Whether it is making a quick buck off an unwanted lucky draw prize
or hoping to free up some wardrobe space by selling off last
season’s haute couture, the Internet can provide a cheap and
convenient way for the average consumer to make the world her
marketplace.
There is a myriad of options to choose from for selling online.
Consumers who are thinking of using the Internet as the centrepiece
of a serious business venture tend to build their own Web sites or
online stores, complete with bells and whistles like shopping carts
and credit card payment options.
However, the majority of us will fall into the category of
casual sellers, or people who are merely looking for a cheap and
hassle-free way to sell off items we don’t really need.
Online Auctions
Auction sites such as eBay (http://www.eBay.com.sg) and Yahoo! Auctions (http://sg.auctions.yahoo.com/sg/) are good
platforms to consider for the first-time seller. After completing a
simple registration process, you will be able to post your first
online advertisement.
With these sites, you can set a baseline selling price for the
item, the duration of auction, along with the value of each
incremental bid. For example, one can specify that the starting
cost is S$200 for a second-hand MP3 player, and that each bid would
raise the price by S$5. If there are three bidders eventually, the
third buyer one gets the item for S$215.
Web sites such as eBay are visited by millions around the world
so you are assured of a huge audience base for your advertisement.
Payment options like PayPal have also been incorporated so the
bidder can pay for the item upon winning the auction. This option
also safeguards the seller against fraudsters and bogus buyers with
no real interest in buying the product. However, the downside is
that a small fee is incurred for every successful transaction.
Online Classifieds
If auctions are not for you, there are other Web sites
that will allow you to hawk your products for free. These are
commonly referred to as online classifieds. In Singapore, Mocca (http://www.mocca.com) and ST701 (http://www.st701.com) are examples of
comprehensive listings that will allow you to sell everything from
cars to condos to hand-me-down CDs. Registration is usually
required before you are allowed to post an advertisement.
In addition, you can try selling off your item at special
interest sites. For example, car enthusiasts often have their own
online forums. Besides discussing engine performance and
fuel-saving tips, these car forums also feature a classifieds
section for members to sell off their spare parts or to hunt down a
new set of sports rims at bargain basement prices. Another example
is Hardwarezone (http://www.hardwarezone.com), a Web site that
is popular with buyers and sellers of tech gadgets.
However, the disadvantage of using online classifieds is that
payment options are not included so you will have to leave a
contact mode (either phone number or e-mail) for interested buyers
to get in touch with you directly. Inevitably, you might have to
entertain a number of calls and e-mail queries before the sale can
be successfully completed.
Whether it is making a quick buck off an unwanted lucky draw prize or hoping to free up some wardrobe space by selling off last season’s haute couture, the Internet can provide a cheap and convenient way for the average consumer to make the world her marketplace.
