Learn How To Value Live Auctions Items For Reselling On Ebay

So you're going to a local auction to buy some great stuff to sell on eBay?

Great!

But how do you know how much you can afford to pay for items?
At most auctions, the items you buy aren't guaranteed to work, and since
you're only buying one of whatever it is, there's a lot of work that goes
into selling each individual item. You need to be sure there's enough of a
profit margin for you to be profitable.

So what's a person to do?

Well, I've attended hundreds of auctions where my sole reason for attending
was to buy items I could sell on eBay. My specialty was in surplus equipment
- phones, networking equipment, fax machines, etc. - but I bought plenty of
items that didn't fall into such neat categories as well. I learned a lot
about how much I could actually afford to pay, and did it profitably for
several years. Now I only go to auctions for entertainment and to buy the
occasional item for personal use, so revealing the methods I used to you is
no big deal to me, but it could be a great help to you.

First, check to see if the auction has a preview. If you see an ad and it
doesn't say, call up the auctioneer and ask if there's anytime you can go to
preview the items on sale at the auction.
Most auctions have a bill of sale but I've found it's much better to be able
to actually go see the items in person. You can get a good idea for the
condition of the item and are able to note details about the items.

When you're previewing the items, make sure you have a notebook and a pen
with you. You're going to need to take a lot of notes.
Your job is to identify anything you think you could sell on eBay for more
than $20 - less than $20 and it's probably not worth your time. If you're
not sure, write it down just in case. Take specific notes of model numbers
and the condition the item appears to be in.

Once you've noted everything you think is worth more than $20, you can
return to your home. Now it's time to hop on eBay and do some research.
Start typing in the items and find out how much other sellers are getting
for their items - use the completed items search. Find what a middle of the
road price is for the item and right it down next to the item. Now you know
how much the items are worth.

If an item sells for $90, then you can afford to pay up to $80, right?

Well, if you sell on eBay for entertainment purposes, sure. If you actually
want to make some of that green stuff commonly called money, then no.

My goal was always to buy the item for 50% of what I could sell it for. Does
that seem low? Well, most auctions aren't willing to guarantee that anything
will work, and a lot of times you don't even know for sure if the item was
working last time it was used. I've bought plenty of items that looked like
they'd work and got them home only to find they were junk. So just know that
some items will not work, and you'll have to take a loss on them. Since you
want to make money, you'll find that 50% is a good number to have in mind.
Now the 50% is a guideline, not a rule, so if you find an item and want to
go higher, that's fine, just keep in mind 50% as your goal.

What if preview is immediately before auction or there's no preview
available? Well, this is where you're going to need to take advantage of
technology or a friend if you're new at this.
When you get there, find out what items the auctioneer will start with and
write down the first few items that you think would meet your requirements
and write them down on your pad.
Now either pickup the phone and call your friend who can look these items up
for you or use your phone as a modem for your laptop and look them up
yourself. If you have a web enabled phone, you can use that as well.

Now don't be disappointed if you don't get most of the stuff you want. Some
auctions, that'll happen. Other auctions, you'll get most of the items you
wanted. There are ups and downs like any business, but over time it all
evens out.

Happy Bidding.

About The Author: Gary Ruplinger is a former eBay Powerseller who's
revealing his secrets to getting higher prices than his competitors in his
auctions. Read his free report at http://www.auctionconversionsecrets.com.
If you're an affiliate marketer, you may wish visit his new site
http://www.projectxresults.com