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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.
Crow River Media
First online auction for unclaimed property
Crow River Media
Fahey Sales, Glencoe, is managing the Minnesota Department of Commerce's first online auction of unclaimed property from abandoned safe deposit boxes. The auction features jewelry, coins and collectible items, including a Joe Montana rookie sports card ...
First moonwalker Neil Armstrong's memorabilia heads for auction
The personal collection of Neil Armstrong, the first man to have set foot on the moon, is to be sold in a series of auctions later this year and in 2019. The artefacts on offer range from those associated with Armstrong's historic 1969 lunar landing to ...
10 Cleveland Indians items from the past up for auction
CLEVELAND, Ohio - Among the hundreds of items up for bidding via Lelands auctions are 10 nostalgic Cleveland Indians pieces all dating more than 60 years. Some go back more than 100 years. We include lot numbers if you want to read more about the ...
One giant sale: Neil Armstrong's collection goes to auction
Defiance Crescent News
The personal collection of Armstrong, who died in his native Ohio in 2012, will be offered for sale in a series of auctions handled by Dallas-based Heritage Auctions, beginning Nov. 1-2 and continuing in May and November 2019. The collection includes a ...
Dubai collector to auction Star Wars action figures worth Dhs1 million
Consider yourself a Star Wars fan? Well, you probably don't have anything on one anonymous Dubai resident who has put up their entire collection of Star Wars action figures for auction next month. The 33-piece collection, which features mint condition ...
Beef producers facing rising feed prices, lower sale prices at local auctions
COLLEGE STATION — A convergence of weather and market conditions have put a number of Texas beef producers in a tough spot, facing rising supplemental feed prices and lower sale prices at local auctions, according to Texas A&M AgriLife Extension ...
Dubai collector to auction world's rarest prototype Star Wars action figures
A Dubai resident will auction the world's rarest Star Wars action figure prototypes next month in a sale that is estimated to raise as much as $360,000. The 33-piece collection belonging to the owner, who wishes to remain anonymous, includes the rarest ...
Livestock auction buyers lend great support to 4-H'ers
The last big 4-H event of the Bartholomew County 4-H Fair each year is the livestock auction. But it's far more than just the sale of animals youths have raised. It's about supporting young people's efforts and dedication. In that regard, it's clear ...
Sydney auction clearance rate rises to almost 60 per cent as buyers bid up scarce blue chip homes
Property buyers bid up the prices of scarce homes in Bondi, Mosman and other prized pockets of the city on the weekend. More confident bidding at auctions in blue chip areas helped to jump-start the Sydney weekend auction clearance rate. The ...
Armstrong's artifacts, momentos go to auction
Morning Journal News
The personal collection of Armstrong, who died in his native Ohio in 2012, will be offered for sale in a series of auctions handled by Dallas-based Heritage Auctions , beginning Nov. 1-2 and continuing in May and November 2019. The collection includes ...
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