Do you have trouble sometimes understanding when people talk about eBay? Don’t worry, some of the jargon is really obscure, and you can’t be expected to understand it until someone’s told you what it means. Here’s a little list of some of the most useful lingo to know, but you don’t need to memorise it – even the most common jargon is only used relatively rarely.

Words.

Bid: telling eBay’s system the maximum price you are prepared to pay for an item.
Dutch: an auction where more than one of an item is available.
Feedback: positive or negative comments left about other users on eBay.
Mint: in perfect condition.
Non-paying bidder: a bidder who wins an auction but does not then go on to buy the item.
PayPal: an electronic payment method accepted by most sellers.
Rare: used and abused on eBay, now entirely meaningless.
Reserve: the minimum price the seller will accept for the item.
Shill bid: a fake bid placed by a seller trying to drive up their auction’s price.
Snail Mail: the post, which is obviously very slow compared to email.
Sniping: bidding at the last second to win the item before anyone else can outbid you.
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Over the years, eBay has introduced all sorts of different auction types, in an effort to give people more options when they buy and sell their things on eBay.

For every seller who doesn’t like the idea that their item might sell for a far lower price than they intend, there’s another who wants to shift hundreds of the same item quickly. eBay tries to cater to all tastes. This email gives you an overview of the different kinds of auctions and their advantages for you.

Normal Auctions.

These are the bread-and-butter of eBay, the auctions everyone knows: buyers bid, others outbid them, they bid again, and the winner gets the item. Simple.
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So you’ve decided that you want to get started as a seller on eBay. There are a few things that you really need to know before you go and throw yourself in at the deep end.

What to Sell.

First off, you need to know what it is you’re going to sell: what’s your speciality? You’ll do far better on eBay if you become a great source for certain kind of products, as people who are interested in those products will come back to you again and again. You won’t get any loyalty or real reputation if you just sell rubbish at random.

When you think about what to sell, there are a few things to consider. The most important of these is to always sell what you know. If you try to sell something that you just don’t know anything about then you’ll never write a good description and sell it for a good price.
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If you’ve ever read an article about eBay, you will have seen the kinds of incomes people make – it isn’t unusual to hear of people making thousands of dollars per month on eBay.

Next time you’re on eBay, take a look at how many PowerSellers there are: you’ll find quite a few. Now consider that every single one of one of them must be making at least $1,000 per month, as that’s eBay’s requirement for becoming a PowerSeller. Silver PowerSellers make at least $3,000 each month, while Gold PowerSellers make more than $10,000, and the Platinum level is $25,000. The top ranking is Titanium PowerSeller, and to qualify you must make at least $150,000 in sales every month!

The fact that these people exist gives you come idea of the income possibilities here. Most of them never set out to even set up a business on eBay – they simply started selling a few things, and then kept going. There are plenty of people whose full-time job is selling things on eBay, and some of them have been doing it for years now. Can you imagine that? Once they’ve bought the stock, everything else is pretty much pure profit for these people – they don’t need to pay for any business premises, staff, or anything else. There are multi-million pound businesses making less in actual profit than eBay PowerSellers do.
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Yes, you read that correctly: ten years. eBay was created in September 1995, by a man called Pierre Omidyar, who was living in San Jose. He wanted his site – then called ‘AuctionWeb’ – to be an online marketplace, and wrote the first code for it in one weekend. It was one of the first websites of its kind in the world. The name ‘eBay’ comes from the domain Omidyar used for his site. His company’s name was Echo Bay, and the ‘eBay AuctionWeb’ was originally just one part of Echo Bay’s website at ebay.com. The first thing ever sold on the site was Omidyar’s broken laser pointer, which he got $14 for.

The site quickly became massively popular, as sellers came to list all sorts of odd things and buyers actually bought them. Relying on trust seemed to work remarkably well, and meant that the site could almost be left alone to run itself. The site had been designed from the start to collect a small fee on each sale, and it was this money that Omidyar used to pay for AuctionWeb’s expansion. The fees quickly added up to more than his current salary, and so he decided to quit his job and work on the site full-time. It was at this point, in 1996, that he added the feedback facilities, to let buyers and sellers rate each other and make buying and selling safer.
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