Monday, August 13, 2007

Make More Money on eBay With Second Chance Offers

One of the easiest ways to increase your eBay auction cash flow and profits is to use second chance offers. If you have more than one of the same exact item in stock, and your auction ends with a price that you are happy with, then the second chance offer is your best friend!

Using the second chance offer button allows you to email the second highest bidder and gives them the opportunity to bid on your item at their maximum bidding price. If their was a bidding war, and the price was exceptionally high, this is a great time to cash in.

Second Chance offers also allow you to move inventory faster, sell at prices you are comfortable with, and greatly increase your income. For example, when I started working with beaddevotion, we were selling about $11,000 worth of beads a month. But when I recommended that we use second chance offers for auctions that ended profitably, our sales jumped to $1,3750 in a month!

Using second chance offers will make you a lot more money! Also, when using a second chance offer, you do not have to pay the additional listing fees that comes with making a new auction. All you have to do is collect the money, and pay eBay your final value fee.

Here are some tips for maximizing the benefit of the second chance offer:

  1. Make sure to only use the Second Chance Offer if your auction has ended at a price that you are very happy with. Unless you really need some cash, do not settle for less than what would be profitable for you.
  2. Try to send out the offer as soon as possible. Bidders are fickle and will move on quickly if you do not take action.
  3. Put a 1 day time limit on the offer. Creating a sense of urgency will help make sure more of your offers are acted upon.
I hope you make a lot of money! Good luck.

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