Easy Money on Ebay?

Ebay was only two years old when I discovered it.

A friend I worked with was also starting to sell on Ebay at about the same time, and we exchanged ideas and experiences constantly. Since we were already working together on our Ebay ventures, we decided to combine our resources into one company and grow it while we were still both working our regular job. We found our niche selling technical books and manuals as our little company began to grow and prosper. Our co-workers at the company we worked at during the day came to consider us the "Ebay Experts". We were answering questions about online auctions on a daily basis, but one coworker had the same comment every day.

"Hey, show me how to make easy money on Ebay!" he would ask. It became a standing joke between My partner and I that usually came up around two or three in the morning during a marathon packing or email answering session. One of us would look at the other and mutter in a disgusted tone "Yea, Easy money on Ebay.."

In January of 2002, we had more sales, and more auctions running than ever before. We were looking at 100 to 150 auctions a day closing, and enjoying a sell-through rate of close to 75%. Our shelves were piled high with books and manuals, the shipping area was well stocked with supplies, and we were ready for long hours of fulfilling our orders.

Then, as if fate stepped in to see just what we were made of, a huge ice storm hit our part of Oklahoma taking out large sections the electrical grid. It doesn't take a rocket scientist to figure out that online businesses can do without many things, but electricity is NOT on that list! On the third day of the blackout, we were able to learn from the radio (battery powered) that it wasn't just our area, but over HALF the state of Oklahoma. Worse yet, the damage was so extensive it was going to be at least TWO WEEKS before power was restored! A quick calculation and we almost panicked. We would have over two THOUSAND AUCTIONS END, and no way to contact the bidders! If we didn't keep up with the sales, payments, and shipping on a daily basis, we were in deep trouble... We couldn't imagine what a mess it would be in TWO WEEKS!

The fourth day into the blackout, I made an executive decision. I grabbed the company checkbook, and headed for our closest Lowe's Home Improvement center (about 70 miles away..). The little roadtrip turned into quite the adventure. Strange thing about a massive blackout is gas stations can't pump gas without electricity, and you are burning gas while you are driving around looking for a gas station that was open for business. I was running on luck and fumes before I finally found a station and filled up. With a full tank of gas, I made it to Lowe's and purchased a generator. We assembled the generator in record time, put oil in the engine and then realized... Uh Oh, we need gas for the generator. No local gas stations were open for business, and we didn't want to risk another road trip. Using an old trick I hadn't used since I was growing up on a farm, we were able to get enough gas out of my pickup truck to fuel up the generator.

The little generator fired up on the first pull, and with the help of a few extension cords and power strips, we had a computer network up and running at My partners house. It was then we made another interesting discovery. Cable internet connections do not work without electricity. I had a DSL internet connection at my house, so off we go with a partially charged battery in my laptop to test my internet connection. SUCCESS! DSL works off the phone line power so it was still functional. We made a quick drive back to My partners house to tear down the computer network and load the generator, then back to my house to set it all up again. At 4:30 the next morning We had the network online and a couple of lamps for light. We were self-contained, and open for business. Now we could get to work, and so we did, for the next straight 48 hours. We had a pickup truck load of packages ready for the post office when it hit us, "Is the post office open?". A quick phone call ( by the way, cell phones and cordless phones are useless during a blackout. The simplest plug-it-in-the-wall phones work great.) found us with another problem. Our local post office was closed (no electricity there either.) They did tell us the regional USPS hub had power, and was open 24/7. The bad news is, the regional hub was 75 miles away in Oklahoma City!

Meanwhile, back at the fuel issue... We were relieved to discover that two local gas stations had rented generators and were open for business. We gassed up and headed for Oklahoma City. With the load of packages on the way to customers and most of the other urgent tasks completed, we took a much needed break. We shut down the network and use the generator to power an electric griddle and make a hot meal. The little generator wouldn't power both at the same time without throwing it's breaker.

For the next two weeks, that poor little generator ran constantly keeping the computers running and the shipments going out, the questions answered, and our customers happy. Every other day I would make the 150 mile round trip to the USPS hub in Oklahoma City, stopping on the way back to fill the gas containers for the generator, and fuel up the truck for the next trip.

One evening we took a short break, and stepped outside for a breath of fresh air. We noticed something different.... THE STREET LIGHTS WERE ON! I ran inside and tried the lights... ELECTRICITY!

I went next door and asked my neighbor how long the power had been back on. "Oh, about four or five hours..". We had been so wrapped up working in our self-contained office, we hadn't realized the power had come back on! With our ordeal behind us, we couldn't resist the temptation to elebrate with a cold beer and a toast...

"Here's to "easy money" on Ebay!"

KL Bohn is an Industrial Engineer with a passion for technology and especially Ebay.

Ebay was only two years old when I discovered it quite by accident. 7 1/2 years, and over 85,000 transactions later I'm still hooked on Ebay as a seller, buyer, and shareholder.

In The News:


ABC News

EBay to emphasize fixed prices over auctions, report says
CBC.ca, Canada - Aug 20, 2008
Auction site eBay ticked off sellers earlier this year with changes to its fee structure. (Paul Sakuma/Associated Press) Auction site eBay is set to change ...
Auctions and Antiques Examiner Examiner.com
eBay Changes Fees for Fixed-Price Auctions I4U
eBay downplays auctions in favor of fixed-priced listings Ars Technica
HULIQ (press release) - BetaNewsall 497 news articles

Argentina to hold auctions in debt buyback
Reuters - 3 hours ago
BUENOS AIRES, Aug 21 (Reuters) - Argentina announced on Thursday it will hold auctions as part of a debt buyback plan aimed at bolstering sagging bond ...
Latin America Currencies: Colombia Peso Gains on New Debt Sales Bloomberg
all 2 news articles

3 News NZ

Turners Auctions profit up 55%
National Business Review, New Zealand - 5 hours ago
Turners Auctions posted a 55 percent rise in first half net profit to $812000, with pricing reviews and increased sales of add-on finance and insurance ...
Turners Auctions toughs it out Stuff.co.nz
all 22 news articles

The Daily Deal (subscription)

Merrill leads Goldman in busted auctions
The Daily Deal (subscription), NY - 7 hours ago
Besides the usual disclaimers (see below), it should also be noted that the exits in question are only for previously announced or reported auctions, ...
American Capital books $120M in profits on Contec sale The Daily Deal (subscription)
all 2 news articles

Examiner.com

Auctions and Antiques Examiner
Examiner.com - 5 hours ago
These websites were picked by the Auctions and Antiques Examiner as useful resources. I guess because September is on the way, it's the time of year people ...

Bargains possible at home auctions
KTAR.com, AZ - 13 hours ago
by Bob McClay/KTAR Many banks are turning to auctions to sell homes they have ended up with through foreclosures. Many times, a home can be bought at ...

AFP

Massachusetts settles with Merrill on ARS matter
Reuters - 8 hours ago
ARS notes featured interest rates that reset periodically through auctions, which made them similar to short-term investments. But auctions have been ...
RBC, US watchdogs talk securities settlement ReportonBusiness.com
3rd UPDATE: Three Banks Agree To Buy Back Billions Of ARS CNNMoney.com
Merrill Backs Down On ARS Forbes
guardian.co.uk - Bloombergall 649 news articles

Governors in NY, NJ oppose airport slot auctions
The Associated Press - Aug 19, 2008
NEW YORK (AP) — The governors of New York and New Jersey asked federal officials Tuesday to abandon a planned auction of prime takeoff and landing slots at ...
Governors in NY, NJ oppose airport slot auctions Newsday
NY, NJ governors say auctioning airport slots a mistake Poughkeepsie Journal
all 76 news articles

Yahoo! Auctions to close soon
AsiaOne, Singapore - 4 hours ago
Singapore auctions site.' The closure, however, does not affect the remaining Yahoo! Auctions sites in Hong Kong and Taiwan. ...

New policy for PLB land auctions
Daily Times, Pakistan - Aug 20, 2008
LAHORE: The Punjab government has framed a new policy to auction land owned by the Punjab Liquidation Board. Under the new policy, the land would be sold ...
auctions - Google News


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