Are you selling products on eBay as part of your home-based business? What about Yahoo! auctions? Yahoo! has long offered auctions as part of their suite of services and their auctions typically had lower fees than eBay’s. But earlier this year, Yahoo! went one step further and completely eliminated listing and final value fees from their auctions. That announcement (back in June) brought out a healthy Yahoo! from the eBay seller crowd.
We can only assume that the move was made to try and grab a bigger piece of the auction market share from eBay. To that end, I don’t see it as having had much (if any) impact. One issue with their ‘no-fee auctions’ is that Yahoo! has done very little, if anything to attract more buyers to the Yahoo! Auction site. This is evidenced by the fact that the Auction link on the Yahoo! home page is still buried way down at the bottom of the page under “More Yahoo! Services”. Every seller knows that we need buyers (or least potential buyers) in order to be successful.
So are Yahoo! auctions even worth it? There are at least two scenarios where Yahoo! auctions can be a very valuable resource to an auction seller.
One is where you might be stuck with items that aren’t moving well on eBay. Repeatedly re-listing them on eBay will eat you up in listing fees and they might not be something you would want to open an eBay store for. In this case, why not list them on Yahoo? No fee auctions means you can list them as many times as you want without having to worry about auction fees eating into your bank account.
Another is where you’re selling items that are in demand but there’s too much seller competition on eBay. There are fewer sellers on Yahoo! and even though there are also fewer buyers, if the products are in the ‘hot items’ classification, you’ll find buyers for your items on Yahoo!
So if you’re using auctions in your home-based business, you might want to give Yahoo! auctions a try. If anyone has any comments on Yahoo! auctions, please share them.