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Accepting Paypal as a payment method might increase your selling prices and your profits. This depends on what you are selling. I sell collectibles to collectors. My clients are like junkies. They will buy regardless of the payment options, so not offering Paypal won't make much difference in the final selling prices.
If you sell items with high competition, accepting Paypal will make your auctions more attractive. This also holds true for impulse buys. Plus, you can get paid instantly through Paypal.
Here's a few suggestions for increasing your profits by accepting Paypal:
1. Select accept Paypal in the auction listing process to get the Paypal logo into your auction. You can put in the auction description that you accept Paypal, but unless you use the Paypal logo some buyers will miss this Payment choice. Many buyers look specifically for the logo and expect to find it in certain areas of the auction listing.
2. If you only accept bank account transfers, and do not accept credit card payments through paypal be sure to mention this in your auction description and the payment types area. Even after you mention this, you will get credit card payments from some Paypal users. This causes confusion with buyers.
3. One problem that may come up is your shipping schedule. I ship once a week. Some eBay buyers feel that I should drop everything and go to the post office as soon as they send me money through Paypal. This used to cause problems.
Now when a buyer sends me money, I quickly email him and tell him when to expect his item. Because I ship on Thursday or Friday, I can tell them their item will be delivered by the next Tuesday, if not earlier. Instead of telling the buyer I will ship the item on Friday, I tell them to expect it on Monday. This changes the buyer's focus from when I will ship to when they will get the item.
One last thing before I finish up. I recommend eBay sellers use guarantees. If you take a credit card through Paypal, and later refund the buyer's money, you will be out the Paypal fees if the refund is done more than 30 days after the initial transaction. You need to require your buyer to return the item quickly.
Terry Gibbs is a collector/dealer of old toys and trains, and teaches others how to buy and sell antiques and collectibles. Gibbs is the author of two best selling eBay books "The Auction Revolution," and "The Complete Guide To eBay Consignment Sales." He has also written numerous other books about buying and selling antiques and collectibles. Learn more at his website: http://www.news.iwantcollectibles.com
Copyright 2005 IWantCollectibles LLC used with permission.
Big conspiracy behind AgriGold auctions: BJP
VIJAYAWADA: Stating that there will be a change in the regime after the 2019 polls and the BJP will play a crucial role in it, party national general secretary, Ram Madhav said that the new government will help the victims of the AgriGold financial scam.
Antiques and the Arts Online
Yale Halfback's 1937 Heisman Trophy Drives To $312000 At Heritage Auctions
Antiques and the Arts Online
DALLAS — Numerous bidders made a run at the 1937 Heisman Memorial Trophy presented to Yale University halfback Clint Frank to drive its final price to $312,000, with buyer's premium, claiming top-lot honors in Heritage Auctions' Fall Sports ...
Business Wire (press release)
Over a Half a Million Dollars Raised to Benefit Tilly's Life Center
Business Wire (press release)
Sponsors, supporters and friends of TLC gathered for an evening of dancing, drinks, family style gourmet food, music, live and silent auctions accompanied by a TLC graduate's captivating story of forgiveness. Their overwhelming support resulted in ...
Yield curve flattens before auctions
NEW YORK: The US Treasury yield curve flattened to its lowest level in more than two weeks on Monday before the Treasury Department is due to sell $108 billion in new short- and intermediate-dated debt this week. The debt sales will include $38 billion ...
November Basrah Light Cargo Sold At OSP +$0.20: Dubai Mercantile Exchange Auctions
Exchange News Direct
Iraq's National Oil Company SOMO Monday sold a 2-million barrel cargo of Basrah Light via DME Auctions, achieving a premium of $0.20 per barrel over the November Basrah Light Official Selling Price (OSP). SOMO increased its Basrah Light OSPs for ...
Manchester Evening News
This is how you can buy cheap stolen goods - legally
Manchester Evening News
Bumblebee Auctions - This is a dedicated site where police forces across the country list stolen goods for sale. Auction Houses - Some forces sell their items through auction events, which you have to attend in person. GMP uses a number of auction ...
Sydney records weakest auction weekend in a decade
The housing market of Sydney has just witnessed its worst auction results in a decade, according to the latest industry figures. Citing data from Domain, The Guardian said Sydney recorded a 44% clearance rate over the past weekend, the lowest recorded ...
The Star, Kenya
King Kaka auctions Eastlando Royalty album cover art for Sh32,000
The Star, Kenya
The proceeds of the auction will go towards the King Kaka Sanitary Bank Campaign that aims to keep 100,000 girls in school. In an interview, King Kaka said he has 18 songs on the album which also features artistes Talib Kweli,Tracy Morgan, Atemi and ...
TREASURIES-Yield curve flattens before auctions
Two-year yields rose to their highest levels in a decade on Monday as investors prepared for the auctions, and on expectations that the Federal Reserve will continue raising rates. At higher yields, the debt should be attractive, said Ian Lyngen, head ...
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