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I have used a number of the auction sites on the web, such as QXL, Ebay, Freeserve and Aucland but it has to be said that Yahoo! wins hands down. I have been using Yahoo! for approximately 3 months now and I am really glad to have done so.
The website is easy to navigate and even easier to use making the whole auction experience pleasurable.
The Sellers Perspective
I have managed to sell approximately 20 products in that time because of the massive exposure you get from using the Yahoo! brand name. All of my auctions have had large numbers of hits compared to the other auction sites which is definately what is required to sell your products. And the best bit is that there are absolutely no charges for BUYING or SELLING using the Yahoo! service unlike the other competitiors. This means that you can save yourself a listing fee and a success fee which can be as much as 5% of the final price!! This can be a huge saving depending upon the product for sale. Listing fees have now been introduced in the USA so it will be inevitable that in the near future listing fees will also be introduced within the UK. You are also able to customise your auction page to make it more individualistic and appealing to users so that your acution site stands out. It is very easy to track your auctions and contact your buyers - just like having an online e-commerce site but cheaper!!
The Buyers Perspective
If you are looking for a bargain then Yahoo! could be the place to find just what you are looking for!! As it is free to sell using Yahoo! then the sellers are able to reduce their prices to offer better deals. This isn't always the case as some people try to take advantage of you so do be careful!! There are plenty of sales for you to trawl through so no matter what you are looking for it should be listed on an auction.
In conclusion, Yahoo! is worth a look for buyers and sellers.
If you would like to look at my current auctions then please go to http://user.auctions.yahoo.com/uk/user/marcusball1979?
If you like Yahoo auctions, take a look too at Amazon.co.uk auctions. Same as Yahoo uk in as much as it costs you nothing to list items. I've been using both since November (Amazon a little more until lately) and I get good results from both. I am mainly a seller and find plenty of traffic - like you say it's the brand name that pulls people in and yahoo/amazon/ebay are the only 3 really worth bothering with if you want consistent sales.