Empty your closets, fill your pockets

Online auctions

Use auctions for collectibles, one-of-a-kind items, designer goods and stuff you think can fetch a good price. "If there's a name like Burberry on it, it will sell," Hammond says. Cars, especially antique autos, sell well at online auctions.

Signe Knudsen, a frequent seller on auction sites, netted $15 for the top of a band uniform. "Someone told me it's the latest craze to wear at raves," says the Madison, Wis., woman. She scored $100 for a book on ice-boat building by including the table of contents in the description. Collectors search key words so it pays to include lots of searchable text, including -- with books -- the publication year and even the jacket blurb.

Decide if it's worth doing by first taking the packaged item to a post office or a mail stop to calculate postage. (Knudsen finds free recycled bubble wrap on Freecycle and inexpensive padded mailers on eBay.) Since you can't anticipate how where you'll need to mail it, set shipping rates accordingly. If shipping's too costly, use a classified ad instead (more on that later).

Amazon.com Auctions, eBid, Bidville, Delcampe, Overstock Auctions, uBid and Tazbar are big names in online auctions. Ebay is the mother of them all, with 93% of online listings, according to a survey of 651 reader/sellers by AuctionBytes, a newsletter tracking the industry.

Ina Steiner, the editor of AuctionBytes, sends newbies to eBay because it attracts the most traffic and has vast learning resources. Begin with the help, learning center (tutorials, videos and sellers' classes), getting-started section and community discussion boards, including workshops and interactive discussions. When you're ready to sell, let eBay walk you through the process.

Next, research specific issues. Learn about shipping, for example, by:

• Visiting eBay's shipping center.

• Reading the eBay help section. Find 15 articles about shipping, for example -- from calculating rates to printing labels -- here.

The upside: The huge number of shoppers trolling online auctions can increase your profits. The thrill, Hammond says, is that "you might find someone who wants that carnival glass plate you found for a dollar at a garage sale. All you need is one person to bid up the price."

The downside: It's time-consuming. Not difficult, just time-consuming. Buyers can be mean. One disgruntled person who misread a product description reduced Hammond to tears. Also, you can spend a lot of money and not sell anything.

The bottom line: Costs vary, depending on the site you use and the services you buy. Compare prices at AuctionBytes' chart of seller fees and check eBay fees.

Tips:

• "Start small," advises Steiner. Make a little purchase to get a buyer's perspective. Learn by selling something you don't care about.

• Post frank, detailed descriptions and many well-lighted photos, shooting details like labels, signatures, special features and especially any dings, dents or imperfections. Include measurements, the condition it's in, any problems, shipping cost, price and whatever you can about the history, maker and worth as a collectible. People must see exactly what they're getting or you'll have angry buyers demanding their money back and bad-mouthing you on the site.

• Be alert to fraud and scams. Read eBay's help index (see F, for fraud), particularly "Fraud: Information for sellers," "Fraud: Tips for buyers" and "Fraud: Tips for sellers." Read more at AuctionBytes' fraud resources. Avoid wire transfers, a common vehicle for scammers. Take a short course in spotting fraud by reading links at the eBay Security & Resolution Center.

• To figure out how much to charge, Knudsen uses eBay "search" for similar things. Type in "Franciscan Starburst," for example, for the range of prices and conditions of like pieces.

• If running online auctions seem daunting, hire a "trading assistant" -- a store or individual that does the work for a cut (35% or more) of your profit. That's not steep, Steiner says, considering that professionals may get more money than you can for your goods. Find assistants with eBay's trading assistant directory or local Yellow Pages.

• Read books. Steiner recommends "eBay For Dummies," "1000 Best eBay PowerSeller Secrets," "The Official eBay Bible," "The Complete Idiot's Guide to eBay" and "The 7 Essential Steps to Successful eBay Marketing."

Continued: Classified ads

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