If you're into flipping products or property, local auctions are a great source to buy low and resell... You can find antiques and other unique items that do very well on eBay, for example.
If you have never sold products on eBay before, I would suggest that you start with your own household items that you are ready to get rid of. You probably have things in storage, items in the back of your closet, things you dont use anymore, etc - and you can generally get a lot more for them on eBay than you can by having a "yard sale".
Once you get your feet wet with the selling process, and exhaust your own personal resources, you can look to Local Auctions for more items to turn a profit with. Most of them specialize in property, personal estates, antiques, nascar and other collectibles - just to name of a few.
The goal is to buy low and turn a profit. What I have done in the past, and would highly recommend, is that you "team up" with your spouse or a friend. One stays at the computer, the other attends the auctions and can reach them by cell phone. You want to keep this "under your hat", by the way - so step outside to make the calls, or be as inconspicuous about it as you can.
The person who stays at the computer can look items up on eBay that you are interested in bidding on. What you need to know is how well that product has sold on eBay in the past, and what types of bids it usually brings. This helps you to bid more accurately at the Auction, instead of guessing and "bidding in the dark".
If your partner is quick on the keyboard and familiar with eBay, they can see how many auctions are currently running for that item - and also search the completed auctions to get an idea of what it usually goes for. After a few trial runs, you can get your 'teamwork' down to an art.
Without this "invisible partner", you may bid too high for an item that brings a lower price on eBay. Or you may end up buying something that eBay is already flooded with. Unless you know your product, and know your market (super well), it pays to have someone checking on things behind the scenes.
Being "the invisible partner" is a great little local business idea, too 😉
You can usually find out about Local Auctions by checking the newspapers. But there is a great site called AuctionZip.com where you can find live auctions as well. All you have to do is put in your zip code, tell it how far you are willing to travel (within 30 miles, for example) and it will give you a calendar of Auctions in your area.
A quick search at AuctionZip.com tells me that there are 9 local Auctions going on in my area this weekend (and I live in a very small town). Some of them are for properties, others are entire personal estates (ie estate auctions), and some of them are your run-of-the-mill antiques & collectibles.
If you need to turn over some cash, this is a quick way to do it!
Best,
Technorati Tags: ebay, auction, online auctions, estate auctions, resell products
About Lynn Terry
I think that eBay is one of the best and easiest places to sell and buy antiques. It gives you the freedom to sell it at a reasonable price. Just be careful that you don't sell things too low.