Let's take a look at the possibility of earning extra income with online auctions. You probably know someone who’s done this successfully. And, although it doesn’t generally have huge financial potential, it can be a good way to bring in extra cash for someone who's retired or for a stay at home Mom.

An online auction business offers great flexibility. For example, during the day, you might take the children with you while you shop at yard sales and for other bargains. This could even be a fun learning experience for the kids. Then, after bedtime, you can input all of your auction items.

A good way to get started is by visiting www.ebay.com, www.yahoo.com and www.amazon.com. Once you’ve done some research and know your way around the sites, you’ll want to start scooping up bargains at garage and yard sales, flea markets, close outs, thrift shops, etc.

Look for new, used and handmade items that you can auction off for more than you pay for them. You’ll need to write a description, give an opening price and post a photo. Most sites charge a nominal listing fee of about 50 cents plus a small percentage of around 5% of your final selling price.

Checking out reference books like "Flea Market Trader" and "Garage Sale and Flea Market Annual" can help you to learn the current market value of things and to recognize “hot stuff” when you see it. The more experience you get and the more research you do on the collectibles market, the better your buying power and sales profits will become.

Katie Byrd will take you by the hand and teach you the skills she's used to journey from a financially strapped, bad credit nightmare to debt free abundant living. To find out more visit: http://abundanceandwealth.bellaonline.com

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