10 Tips for buying on eBay

1. Build A Positive Feedback Rating

Give and get good feedback. This is less critical for buyers than for sellers, but having a good feedback rating makes other eBayers comfortable doing business with you. For example, I accept checks for immediate shipment if the buyer has a good feedback rating. If someone has very little feedback (less than 20) or several negative comments, then I hold the checks until they clear before sending an item.

2. How to build feedback quickly?

Here is a quick way to build good feedback: make some purchases for a few lower cost items you use everyday or that you would normally buy at a store. There are plenty of items in the Health & Beauty category that you buy every day such as shampoo and razor blades –often at prices less than you would pay at Wal-Mart.

Pay promptly using PayPal and immediately post feedback for the seller as soon as you get the item. If the seller does not post feedback, send them a short email telling them that you posted feedback for them and you would appreciate them reciprocating.

3. Be generous with your feedback

Post feedback quickly and leave specific comments. Leaving a comment that says: "great seller," is nice –but it is more helpful to say, "Item arrived quickly in perfect condition, just as described." Or: "Quick Professional transaction –good email and just what I ordered." If the seller sells something specific you can mention it such as: "Beautiful Print –I will enjoy for many years."

This type of feedback is very helpful to future buyers and it tends to get you better feedback comments in return.

4. Use PayPal

Sellers want to be paid quickly and everyone is concerned about fraud. There is no faster or safer way to complete an eBay transaction than PayPal (owned by eBay). PayPal is now used by over 100 Million users around the world and now processes more debit and credit card payments than Citibank. Over 80% of registered eBay users accept PayPal and eBay has fully integrated PayPal into their systems. Take the time to become a verified seller and always give your verified shipping address. This gets you the fraud protection. Go to www.paypal.com .

Did you know you can also use PayPal as a savings account? According to Money Magazine, PayPal now pays the highest rate on ordinary savings accounts. When I wrote this PayPal was paying 4.8% while my bank, Wells Fargo, was only paying 3.3% .

5. Avoid Fraud on Large Purchases

Given the millions of transactions that occur each month, fraud is actually rare on eBay but it does exist. The most common type of fraud on eBay is a seller that offers an expensive item for sale at an unbelievably good price. When you win the item the seller asks to be paid in cash, cashiers check or money order. You send the money and then the seller disappears.

Demanding a cashier's check or a money order only is a red flag. Never bid on a large purchase if the seller will not take PayPal or a credit card. Always check the seller's feedback and how long they have been registered on eBay.

Most fraudsters set up an eBay account, run a few quick expensive auctions, get the money and either disappears or are kicked off of eBay as soon as they are discovered. Be especially careful if the seller is located outside the U.S.

6. Pay sellers quickly

Paying quickly will help you build feedback faster and you will get your item sooner.

7. Be honest – admit your mistakes

If you forgot about the auction and are late getting a payment off or you forgot to ship something you sold – be up front and honest. Apologize and admit your mistake. People can be very forgiving if they believe you. They can be unforgiving if they think they are being B.S.'ed.

8. Create an About Me page on eBay

EBay allows you to create a page to describe you and your family or even include your pets. You can put a photo on the page, talk about your hobbies, your family – basically anything you like. The About Me page is where a person can get a sense of who you are and if they would like to do business with you. If you have a web site, this is the one place on eBay where it is allowed to direct buyers to your web site.

9. Master the power of searching

According to eBay, about 65% of bidders find their item by searching. Including the exact name of the product you are selling is key to bidders finding your auction. Some sellers place a tilde (~) or a star * next to their auction title to help get attention. Place a space between a tilde (or *) and a word, or the word will not come up in a search.

For example: *Nikon* would not result in any items found, because eBay's search engine sees the * as part of the word. According to Power Seller News, some of the most searched words on eBay are: DVD, Art, BMW, Gucci, Longaberger, Louis Vuitton, Laptop, Playstation 2 and Paintball.

Use eBay's powerful search engine to find items and to see what items are selling and how much they are selling for.

10. Be sure to thank people

Send an email to your seller when the item arrives. Thank them and let them know you posted feedback and are happy with the transaction.