Feedback – The Currency of Online Auctions

Feedback – The Currency of Online Auctions
Feedback is the lifeblood of Online Auctions. Positive feedback can increase your sales considerably; negative feedback can effectively end your business.

Your feedback score will affect both your buying and selling. Many sellers will not deal with new buyers as they consider them a high risk. Some buyers will only sell to you if you have a feedback rating of 10 or over. On the other hand, buyers often prefer to deal with someone with a good, solid feedback record and are reluctant to bid unless they feel secure.

Power sellers rely on their rating to keep their business flowing smoothly. They must keep their score at least 98% positive. This percentage is calculated over a twelve month period. Power seller benefits include discounts on final value fees, access to priority eBay customer service by phone, email, or even a dedicated account manager depending on power seller grade. These benefits are lost if their feedback rating drops below 98% so feedback is closely watched and attention is paid to every detail of their customer care.

Many members new to selling will have a low feedback rating. To counteract this you should try to make your auctions as personal as possible. This means building a relationship with the bidder through the description of your items. Make the items personal to you. Describe how good you felt using / owning the item and how you are now reluctantly selling it.

Make your “about me” page warm and welcoming. This lets potential bidders see the human side of you. People like to buy from people.

As your positive feedback grows so too will the amount of people interested in and checking out your items. Positive feedback builds sales.

Online buying and selling is fast becoming acceptable to most people but there is still doubt and suspicion out there. Feedback helps to reassure both the buyer or seller. The buyer wants to know that he will receive his item as stated after he has paid for it and the seller wants to know that he will be paid on time and that the transaction will go smoothly.

Always check the feedback before you place a bid and if selling, keep an eye on your bidders’ feedback. Read the comments don’t just check the rating. Mistakes do happen and the comment section should give you a good overall picture of the member’s attitude and previous track record.

As feedback is critical to Online Auctions make sure you always leave fair, honest feedback after every transaction.

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