Now That You Have Won an Auction, What To Do With All That Stuff?

an auction

HoweeeeeeNow that you have successfully selected a good auction, how then do you value the worth of the items purchased?

Here are three ways to value an item from an auction.

1. Assess The Condition Of The Item;

You should be on the lookout for the mark of the manufacturer, size, and condition of the item. You need to assess the item because cracks reduce the price an item should be sold for. Next, you can decide to take pictures of the item; however, when taking those pictures, the manufacturer’s mark, and the name or brand of the item should be captured.

2. Research About The Item

Next, to find out the value of an item after an auction, you’ll need to conduct careful and thorough research. Visit local bookstores or even libraries to get a complete idea of the item and how it can be used. Your goal should be to find out why another individual will be willing to buy the item from you at a fixed price.

Once you have gotten a clearer idea of what the item does and how it can benefit the buyer, the next thing to do would be to compare the price of the item on some of the online retail stores you are familiar with. Your objective for this comparison is to find out the average price of the item as well as know if the market is saturated. While carrying out this online market research if you find out that the item may be difficult to ship, then you could decide to sell them on local stores.

In addition, you could decide to ask people around you if they will be willing to buy this item for a particular price. You could write down the answers you get from your respondents.

3. Value The Item

Once you have gotten an idea of the average price of the item and how saturated the market is, from the reports, you can then value the item. If there are cracks or repairs that need to be done, it should also be taken into consideration.

Where To Sell The Item from Auction

You have successfully valued your item based on the conditions and results of your research; what’s next? Sell them off!
There are quite a number of places to sell off your items, and these places include;

1. Facebook Marketplace

Facebook wants to get into the local buying-and-selling game with its new mobile classifieds section, Facebook Marketplace. The new Facebook Marketplace — not to be confused with the old Facebook Marketplace — lets you put up Craigslist-like ads for everything from furniture and clothing to cars and housing. The new Facebook Marketplace lets you sell to anyone (well, anyone within 100 miles of you), rather than limiting you to friends or group members.

Facebook Marketplace is similar to Craigslist. The details of any sales (including price, shipping, and other logistics) are between the buyer and the seller. Facebook doesn’t take a cut of the profits, nor does it offer protection for either party — like eBay does — but it is slightly more credible than Craigslist because it’s linked to your Facebook account.

2. eBay

With a simpler fee structure, this online store offers you the opportunity to auction and sell a wide range of items. Simply, you will be required to pay about 10% of the final price for each item that is sold on eBay. This fee includes the shipping fee as well.

3. Offer Up

OfferUp is making waves as a mobile-only hybrid between Craigslist and eBay — and so far, users are loving it. The company has surpassed the early days of eBay in terms of sales volume. The users are spending the same amount of time on OfferUp as they do on Snapchat or Instagram. Offer up is free to post on with paid boosting capabilities. The app handles communication from buyers and sellers with email notifications.

Above all, take a few pictures, write a description and get selling.


Recommended Posts