Part 1: Selling the eBay Way

Your trash could be someone's treasure, or so the adage goes. These days, eBay (www.ebay.com) ranks among the best places to make a little cash from that "trash." On any given day, the Internet's largest auction house has more than 3.6 million items for sale in some 3,000 categories. In fact, the site gets well over 1.5 billion page views per month. Imagine getting your goods in front of those kinds of numbers. But before you start getting those deposit slips ready, do a little research.

Know Thy Stuff
First, run a search on completed auctions of items similar to yours that have already sold. This will give you the best indication of how much you can expect to get for your offerings. While nearly everything has some value to someone somewhere, not everything is going to sell. When you list your item, be sure to put it in the appropriate category. Include a photo (.gif or .jpg format), along with a very detailed description of the item. The more information, the better. Don't forget to indicate the shipping and payment terms. Above all, set a price that is realistic, but not so low that you would actually be taking a loss, considering your time and effort, as well as eBay's listing and closing fees. You'll also get the most action in the last hours of trading, so set your auction up to close during prime online time.

Going Once, Going Twice...
After the auction is over, stay in close contact with the winning bidder. Once you receive payment-bank and postal money orders are preferable-ship the item out as soon as possible. This will earn you raves. Positive feedback is necessary if you want to gain the confidence of potential bidders. Conversely, negative feedback could make your eBay hobby short-lived, at best.

If At First You Don't Succeed, List, List Again
Didn't sell your item the first time on eBay? Don't despair. Head over to www.yahoo.com, where you can list for free. Amazon.com is another option, but by all accounts, auction sales are unfortunately down across the board. Amazon's fixed price area, zShops, could work for you, however. And if you're in the dark about the true value of your item, point your browser to www.auctionwatch.com, which offers appraisals for $19.95 per item, in addition to an array of resources for both buyers and sellers.

Part II: Buying the eBay Way

Love shopping on eBay (www.ebay.com)? According to a recent article in Black Enterprise, online auction complaints represented nearly 90 percent of all calls to The National Consumer League (NCL) in 1999. The primary problem is simply that consumers are not getting the items they bid on, or are receiving misrepresented goods. Here are a number of tips that can give you added peace of mind when you place that bid.

Go for What You Know
Shop only on reputable sites. Check how much the item should cost before you place a single bid. Is the item in brand new condition or is it used and sold only as is? Don't buy on impulse. Rather, do your research so you can avoid wasting both your time and money.

When in Doubt, Check it Out
Check the feedback on the seller. Does he or she ship promptly? Are items exactly as described? While it would be ideal if the seller showed no negative comments, be aware that some bidders post false information to try to discredit sellers, when they are the ones who did not follow through with the transaction. This is particularly common on Yahoo Auctions (www.yahoo.com). If the seller has only a few small successful transactions to his or her credit and is offering a particularly expensive item, proceed with caution. Some sellers do this to establish credibility, then take the money and run. Ensure that the venue offers buyer's insurance just in case.

Making the Payment
Paying by credit card is a wise choice, because it provides certain safeguards. However, on person-to-person (P2P) sites, the only way for many low-volume sellers to accept credit cards is through a third-party, such as PayPal (www.paypal.com). Money orders still rank among the most popular ways to pay, though. Using an escrow service is another option. For around 5% of the total purchase price, you can send your money to i-Escrow (www.iescrow) and your funds will only be released to the seller if the item meets your satisfaction. Although, some sellers will not use this method because there have been reports of unscrupulous buyers accepting goods, swapping out parts, then returning the items for refunds.

If You're (Un)Happy and You Know It...
If you're pleased with the transaction, post positive feedback so other buyers will know that this is, indeed, an aboveboard seller. If you feel you've been the victim of fraud, contact the FTC Consumer Response Center at (877) FTC-HELP, the National Fraud Information Center at (800) 639-8140 or the Better Business Bureau (www.bbb.org). Keep in mind that if a seller has accepted payment and not shipped your item out as promised, that constitutes mail fraud. Get in touch with the United States Postal Service ASAP.

Part III: Beyond eBay

eBay (www.ebay.com) is synonymous with successful person-to-person (P2P) auction sales. Its growth outpaces that of its nearest competitors by leaps and bounds. Only Amazon Auctions (auctions.amazon.com) and Yahoo Auctions (auctions.yahoo.com), as well as the FairMarket Network, which is comprised of an array of auction sites at popular Internet portals (auctions.lycos.com, auctions.excite.com, auctions.MSN.com, and auctions.xoom.com), even come close. Yet, as eBay has continued to grow, so, too, have smaller, niche-related auction sites.

Then again, some buyers and sellers had no choice but to seek alternatives. In 1999, eBay banned the sale of firearms (which currently includes virtually all replicas), then later the sale of alcohol and tobacco. Gun collectors now go to www.auctionarms.com and www.gunbroker.com when it's time to buy, sell or just browse. Connoisseurs of fine wines can head over to www.savethegrapes.com to do the same. Numerous other specialty sites catering to the oenephile can be found, such as www.auctionvine.com and winebid.com. Although, most only allow sales on a consignment basis.
Consigning is particularly popular at a number of venues aimed at the high-end market. AuctionWatch (www.auctionwatch.com) recommends www.gregmanning.com for antiques, www.teletrade.com and www.collectors.com for stamps and coins, as well as www.theriaults.com for dolls and www.sportsauction.com for sports memorabilia.

However, many really enjoy the opportunity to trade directly with other collectors who share their interests. For those who appreciate pottery, porcelain and glassware, consider www.potteryauction.com and www.justglass.com. Model train and airplane enthusiasts may want to check out www.ehobbies.com. Military history buffs will likely appreciate www.militaria-collectibles.com. Beckett.com is nirvana for both the sports fan (yes, you can also consign if you like), and those who've discovered a love of all things Pokémon. Just can't get enough of Beanies and plush toys? Heaven is just a few clicks away at www.collectingnation.com.

And, by now, you've probably heard rumblings from numerous auction sites trying to give eBay a run for the money. Among those with aspirations for greatness are www.boxlot.com, www.auctions.com, www.bidbay.com, www.onlineauction.com, www.goldsauction.com, www.ehammer.com, www.edeal.com and www.nicebid.com. But without enough buyers and sellers to make "bidness" interesting, don't get your hopes up too high. In such cases, there really is strength in numbers.

Good luck!