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Fix the price: If you're selling an original product, you can fix the price you want, though you need to be realistic. Value for money is the second aspect that online buyers are looking for, convenience being the first. To determine the right selling price for a used item, you should research on auction sites to find the cost of similar products before fixing a minimum price.
Check details: Before you auction/sell the product, determine how you will handle shipping. Who will pay for it—you or the buyer? When will you ship it—after receiving the payment or while it is still in process? You will need to commit a delivery date and stick to it. Do you need to insure the product? Who will pay for this?
Payment procedure: You need to figure out the best method for receiving money. Are you comfortable using an online gateway, such as Paypal, or will you prefer a cheque or online transfer? On the site, you should state a return policy and how you will handle complaints if they arise within a fixed time period.
BUYERS' GUIDE
Online shopping is convenient and you can get good discounts, but you need to be careful that you aren't taken for a ride.
Authenticate seller: Get the name and contact details of the seller and speak to him or mail him before buying the product. Beware if the seller is unwilling to disclose this information, especially if it is an individual as it may be difficult to track a person after a deal goes sour. Read the feedback for the seller. For instance,eBay has ratings for repeat sellers. If it is a shopping Website, start small till you are confident about the service. Don't be taken in by a seller who promises to dispose of a product at a much lower rate through a 'private' site or sale.
Check the merchandise: Be careful while buying collectibles or antiques as it is difficult to determine the correct value for these products without examining them personally. Check that the electronic item you are buying is the correct model, not just a generic name, so it should be Sony NWZ A-845 Walkman, not just Sony MP3 player. The year of manufacturing will help you know whether it is a current or discontinued model. Check the price of the gadget through a price comparison site or physical store. If it is too low, the product may not be genuine.
Determine the shipping and warranty: Get a fixed delivery time through mail (it's best to have things in written rather than a verbal commitment) and make sure that the product is insured during transit. Insist on a warranty and find out the return procedure if the product is faulty. Check whether you will need to pay extra for shipping.
How to pay: It's best if you can opt for a credit card payment. This is because if the seller reneges on the deal or doesn't deliver on time, you can stop the payment, which isn't possible through most other modes of payment. If you're wary of online payment, stick to a one-time cash card/virtual credit card, which is not linked to your account and will be invalid after it has been used.
Complaints section: Enquire who will be responsible if there is a grievance. If you come across a fraud, inform the auction/shopping site, which will take action against the seller.
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