Tips on how to make extra cash on Yahoo Auction. I made 500,000 yen in 4 months.

Tips on how to make extra cash on Yahoo Auction. I made 500,000 yen in 4 months.

Quit your job, you lose income.

You lose income, you run out of cash.

What do I do when I run out of cash?

Sell stuff on Yahoo Auction!

I’ve been selling stuff on Yahoo Auction just about every week to make some extra cash to pay the bill.
It’s been four months since I’ve been doing this so I thought I’d tally up how much I made during this time.

Before announcing the results, I want to introduce to you my approach to Yahoo Auction.

 

My approach to Yahoo Auction

  • I submit once a week
  • Usually 3 to 4 items each time (if you sell too many items all at once, you’ll have a hard time shipping everything!)

I try to:

  1. do it in my spare time
  2. use Yahoo Auction as a method of decluttering
  3. and make cash at the same time

 

Sales from Yahoo Auction in 4 months

yahoo auction sales

  • Items sold: 44
  • Total sales:538,000 yen
  • Average sales per item: 12,000 yen

Assuming that it took an hour to submit an item, the pay isn’t that bad.

 

Tips on how to sell things at a higher price

I have some tips of my own that I acquired through my long years of selling stuff on Yahoo Auction.

Just FYI:

  • I’ve been doing Yahoo Auction for 18 years
  • I have over 700 good reviews (zero bad reviews!)

Applies to all of my auctions

  1. My auctions end on Sunday evenings, during 11 PM and 12 AM
    This is considering behavioral patterns of my main customers who are probably people my age.
    Busy with work on the weekdays and going out on Fridays and Saturdays.
    My assumption is that Sunday evening, right before going to bed, is when my auctions get the most views from my target customers.
  2. Pictures are very important
    I think pictures play a critical role in getting a higher bid.
    You have to have at least one picture, and a dirty pictures don’t count.
    I go through the trouble of using my mirror-less camera for this.
    You can upload three pictures by default and you definitely should.
    When I’m trying to sell something expensive, I would use HTML to upload more than three pictures.
    A tip when taking pictures;
    Don’t just try to show the good side of the product you are trying to sell.
    If there’s a flaw with a product, if its dirty somewhere or is damaged, don’t hide it.
    You should upload pictures to show these flaws.
    For example, if you’re selling used shoes, be sure to show the bottom of the sole and the inside of the shoe.
    This builds trust between you and the customer and prevents trouble after the auction.
  3. Honestly describe the condition of the product
    If the product has a flaw, be honest about it.
    Lying or hiding a fact about the product can lead to trouble between you and the customer.
    It usually ends up costing more when you get into trouble with the customer so be honest about the product you’re selling.
  4. Describe your product in detail
    It takes time to craft a comprehensive description but generally speaking, more detail will lead to higher bids.
    Detailed descriptions lead to trust, and trust leads to higher bids.
  5. Don’t use the free templates
    When I’m buying on Yahoo Auction, I personally prefer to buy from an individual than a merchant.
    I am assuming the same for others so I don’t use the templates because I think it makes it look like you’re a merchant.

Pricing

  1. Products that appeal to everyone: start the auction at the lowest price possible
    Starting at a low price leads to more visits and bids.

    More people bidding means that the final price has a potential of sky rocketing.
  2. Products that only appeal to a certain crowd: start the auction at a higher price
    These auctions can’t expect many visits so there’s a risk that the auction could end at the price it started.
    You should start high with products such as this.
    You should be prepared to wait until someone that really wants the product, at any price, arrives.

Summary

  • Auctions should end on Sundays, between 11 PM and 12 AM
  • Upload three clean pictures of the product
  • Be honest about the product’s condition
  • Be detailed when writing the description
  • Don’t use free templates
  • Start as low as possible (start high for maniac items)

Good luck auctioning!

 

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