How to sell on MyBidMonster?
We encourage you to visit the help page, search for whatever information you may need and ask questions if need be.
MyBidmonster offers you the opportunity to earn online by posting your products to be bought outright (buynow) at a fixed price or listing them as auctions where interested members can bid on your listings.
You can also list your products on our online store for free.
This way you can earn by listing used items, new items and lots more. The advantage of selling online include that of not keeping unnecessary inventory, no need for warehousing, profit can be maximized because overhead and other expenses are low compared to a brick and mortar shop.To sell or post your listing for sale, you must first be registered as a member of MybidMonster. Register now to join “Your ideal global market village”.
To sell your product, simply click on the sell link and follow the directions, choose the product category and sub category that best fits your product. You can post a single item or multiple items at once using csv format to upload your files. You can choose from over 4000 categories. Continue to the product description page.
The product description page
Choose your currency, the type of listing
The reserve price of an auction listing is the minimum price that you has the seller of the item is willing to sell the item for. This price should be above the minimum bid price. The auction will begin at the minimum bid price and once the bidding reaches the reserve price then the seller Must sell the item to the highest bidder who wins the auction for the item placed for sale. Reserve prices are only available on single-item auctions. The seller cannot place reserve prices on Multi-item auctions. Auctions with multiple items should have their starting bid set to the minimum amount you are willing to accept.
For example, Mr. Yoruba Zulu Swahili our seller sets the starting bid amount for $ 10 and the reserve price at $ 50 (note that the reserve price is higher than the start bid amount of $ 10). Bidder Ashanti puts a bid of $ 40. He will see a popup window that says reserve price not met. If the reserve price of $ 50 is not met, that is all the bids are less than US$ 50, the product will not be sold. The threshold of the reserve price must be met.
But if a bidder puts in say $ 51, a pop will come up saying reserve price met. If the auction ends with this bid, then the seller is bound to sell at $ 51 or more depending on the highest bid for the item. Else the item is not sold if the reserve price is not met.
NOTE THAT THE RESERVE PRICE IS NOT KNOWN OR VISIBLEL TO THE BIDDERS OR POTENTIAL BUYERS.
Buy now price is a fixed price for a product, usually higher than the auction and reserve amount. MyBidMonster offers you two types of buynow options:
You had chosen your category, here you can edit or change the category, choose from the dropdown menu to provide more information to your buyers.
Decide how long your listing will last, the maximum is 30 days. You can relist the item after it expires
Choose your desired payment method that you want to be paid with. We strongly advise you to use escrow as this helps to protect you from fraud.
Here you will be able to give the title of your product and give proper description of what you are selling. No information is too little, in fact the more info provided the better as this improves the changes of selling.
Place key words that will enable buyers searching for your item to easily locate your items.
Enhance your listing: Promotional tools to help buyers find your listings quicker.
Upload Pictures & Attachments, create a slide show and upload Youtube videos.
Provide shipping information, item location and other relevant shipping information. This will help the buyer ascertain the delivery of the product. It is always good to use registered mailing system
NOTE: You can also advertise your products using the Advert system on MyBidMonster. To advertise, you will need to go through the advertise link.
Describe your return policy for bidders and buyers to review before they purchase.
If you would like people to ask public questions about this listing please enable public message board
Public message board enabled: Select this option if a message board in your listing will be enabled. You should enable public message board to enable you communicate with potential buys who may have questions.
Public message board disabled: Select this option if a message board in your listing will be disabled
Place restrictions on the kind of person and location of those you want to bid on your product.
Your item can be saved as draft to enable you come back to the listing to edit the auction or you can SAVE to have it posted to the market for auction and buying.
SAVED ITEMS ARE ALWAYS AVAILABLE IMMEDIATELY FOR AUCTION. Members and potential members can start to view and bid on the item.
The most you can pay is 5% of the final cost of the sale. The final value fees depends on the cost value of the product. Fees can be as low as 1.5%.
They are fees charged for a completed sale. The most that can be paid is 5%. The more the value of the product, the lower the fees.
No, listings that are not bid for or where reserve price is not met will not be charged any fee, the seller can choose to relist the item.
The seller of the product.
Registered members can manage their, bidding, buying and selling activity using the “my account”. From your “my account” tab, > Selling activity; from here you can manage all your selling activity.
Buyer receives the product (s), approves it, releases escrow and you as the seller gets notified that escrow has been released to you.
For Local transactions between parities in the same country, your payment will be released and transferred into your local bank account within 48 hours.
For international transactions, payment will be made using one of our payment gateways, international bank transfer where feasible and available or using our prepaid MasterCard.
As the seller, rate your experience with the buyer, you will also be rated by the buyer.
Where do you rate your buyer?
From your “my account”, selling activity.
Bid snipping or auction snipping is a term used to refer to a situation where members place bids on an item only some few seconds before the bid ends with the aim of winning the bid. MyBidMonster has an anti-bid snip system in place. Bids will usually end some few seconds or minutes after the stipulated time to prevent bid snipers.
You can sell virtually anything. MyBidMonster market has over 4000 categories under which you can list your product for auction or sale.
Some items are prohibited for sale on MybidMonster, such items if posted will be immediately taken off by site admin. They include:
Below is a list of prohibited items that cannot be listed on MyBidMonster
Animals and wildlife products – examples include live animals, mounted specimens, and ivory
Artifacts, grave-related items, and Native American arts and crafts
Catalytic converters and test pipes
Charity or fundraising listings
Counterfeit currency and stamps
Drugs and drug paraphernalia
Drugs, describing drugs or drug-like substances
Firearms, weapons, and knives – examples include pepper spray, replicas, and stun guns (see also military items)
Food and healthcare items
Government documents, IDs, and licenses
Hazardous materials – examples include batteries, fireworks, and Freon
Human parts and remains
Items encouraging illegal activity – examples include an eBook describing how to create methamphetamine
Mailing lists and personal information
Medical devices – examples include contact lenses, pacemakers, and surgical instruments
Military related items including firearms, weapons, and knives
Multi-level marketing, pyramid, and matrix programs
Offensive material – examples include ethnically or racially offensive material and Nazi memorabilia
Pirated materials like CDs and DVDs
Plants and seeds
Political memorabilia (reproduction)
Stolen property and property with removed serial numbers
Weeds (see plants and seeds)
We reserve the right to add to this list at anytime.
For more Questions, clarity and how to go about selling, please Visit the help page, search for information and ask questions. Members can also discuss on your topic of interest.
The MyBidMonster Team
Regus Building, Perfect Transcriber Offices, 23 Wellington Road, Parktown, Johannesburg.