Learning the eBay "Lingo"

Do you have trouble sometimes understanding when people talk about eBay? Don't worry, some of the jargon is really obscure, and you can't be expected to understand it until someone's told you what it means. Here's a little list of some of the most useful lingo to know, but you don't need to memorise it - even the most common jargon is only used relatively rarely.

Words.

Bid: telling eBay's system the maximum price you are prepared to pay for an item.
Dutch: an auction where more than one of an item is available.
Feedback: positive or negative comments left about other users on eBay.
Mint: in perfect condition.
Non-paying bidder: a bidder who wins an auction but does not then go on to buy the item.
PayPal: an electronic payment method accepted by most sellers.
Rare: used and abused on eBay, now entirely meaningless.
Reserve: the minimum price the seller will accept for the item.
Shill bid: a fake bid placed by a seller trying to drive up their auction's price.
Snail Mail: the post, which is obviously very slow compared to email.
Sniping: bidding at the last second to win the item before anyone else can outbid you.

Abbreviations.

AUD: Australian Dollar. Currency.
BIN: Buy it Now. A fixed price auction.
BNWT: Brand New With Tags. An item that has never been used and still has its original tags.
BW: Black and White. Used for films, photos etc.
CONUS: Continental United States. Generally used by sellers who don't want to post things to Alaska or Hawaii.
EUR: Euro. Currency.
FC: First Class. Type of postage.
GBP: Great British Pounds. Currency.
HTF: Hard To Find. Not quite as abused as 'rare', but getting there.
NIB: New in Box. Never opened, still in its original box.
NR: No Reserve. An item where the seller has not set a reserve price.
OB: Original Box. An item that has its original box (but might have been opened).
PM: Priority Mail.
PP: Parcel Post.
SH: Shipping and Handling. The fees the buyer will pay you for postage.
USD: United States Dollars. Currency.
VGC: Very Good Condition. Not mint, but close.

The chances are that you'll find more specific jargon related to whatever you're selling, but it'd be an impossible task to cover it all here. If you can't figure one out from your knowledge of the subject, then type the term into a search engine, followed by the word 'ebay'. The chances are that someone, somewhere will have seen fit to explain it.

While it's good to be able to understand others' jargon, avoid using it unless you really need to (for example, if you run out of space in an item's title). Many people on eBay are not experienced buyers and you will lose them if you write a load of gobbledegook all over your auction.

By now, you're well prepared for eBay life, and you're probably ready to get started with that first auction. In the next email, we'll show you how to dive in and get started.

Staying Out of Trouble with eBay's Listing Policies.

While you can sell most things on eBay, quite a few things are banned. If you try to sell any of these things then eBay will remove your auction and all bids will be void.

Here is eBay's full list of prohibited or questionable items:

Academic Software
Airline and Transit Related Items
Alcohol (also see Wine)
Animals and Wildlife Products
Anti-circumvention Policy
Artifacts
Authenticity Disclaimers
Autographed Items
Batteries
Beta Software
Bootleg Recordings
Brand Name Misuse
Catalog Sales
Catalytic Converters and Test Pipes
Celebrity Material
Charity or Fundraising Listings
Comparison Policy
Compilation and Informational Media
Contracts and Tickets
Counterfeit Currency and Stamps
Counterfeit Items
Credit Cards
Downloadable Media
Drugs & Drug Paraphernalia
Electronics Equipment
Embargoed Goods and Prohibited Countries
Encouraging Infringement Policy
Event Tickets
Faces, Names and Signatures
Firearms, Ammunition, Replicas, and Militaria
Fireworks
Food
Freon and Other Refrigerants
Gift Cards
Government IDs and Licenses
Hazardous, Restricted, and Perishable Items
Human Parts and Remains
Importation of Goods into the United States
International Trading - Buyers
International Trading - Sellers
Lockpicking Devices
Lottery Tickets
Mailing Lists and Personal Information
Manufacturers' Coupons
Mature Audiences
Medical Devices
Misleading Titles
Mod Chips, Game Enhancers, and Boot Discs
Movie Prints
Multi-level Marketing, Pyramid and Matrix Programs
OEM Software
Offensive Material
Pesticides
Plants and Seeds
Police-Related Items
Political Memorabilia
Postage Meters
Pre-Sale Listings
Prescription Drugs and Devices
Promotional Items
Real Estate
Recalled Items
Recordable Media
Replica and Counterfeit Items
Satellite and Cable TV Descramblers
Slot Machines
Stocks and Other Securities
Stolen Property
Surveillance Equipment
Tobacco
Travel
Unauthorized Copies
Used Clothing
Warranties
Weapons & Knives
Wine (also see Alcohol)

Most of this is very obvious - of course you can't sell illegal things like drugs, pyramid schemes or stolen goods. Almost everything that is on the list is there because there is law against selling it. Some of the reasons, though, are a little strange.

The 'autographed items' entry, for example, doesn't mean that you can't sell anything that's been autographed - it just means that you can only sell it if it comes with a certificate of authenticity. The 'artifacts' entry prohibits you from selling Native American graves; 'celebrity material' means you can't sell unauthorised pictures of celebrities; 'embargoed goods' means that you can't sell anything that comes from Cuba… on and on it goes, and most of it you never need to know.

If your chosen kind of item seems to be on the list, though, and you're concerned that you might not be able to sell it, then check the full list at http://pages.ebay.com/help/policies/items-ov.html to see whether the item is banned entirely or there are just a few restrictions.

eBay says it will remove any items that it believes violate copyright law, but in reality they don't have that many people to monitor the site. You will generally only find that your auction gets removed if someone decides to report you - and even then, they might not get around to it.

Really, buying and selling on eBay can sometimes feel more complicated than it really is, thanks to all the rules surrounding it - not to mention the jargon. Our next email is a 'jargon buster', to help you learn the language of eBay.

The First 10 Years

Yes, you read that correctly: ten years. eBay was created in September 1995, by a man called Pierre Omidyar, who was living in San Jose. He wanted his site - then called 'AuctionWeb' - to be an online marketplace, and wrote the first code for it in one weekend. It was one of the first websites of its kind in the world. The name 'eBay' comes from the domain Omidyar used for his site. His company's name was Echo Bay, and the 'eBay AuctionWeb' was originally just one part of Echo Bay's website at ebay.com. The first thing ever sold on the site was Omidyar's broken laser pointer, which he got $14 for.

The site quickly became massively popular, as sellers came to list all sorts of odd things and buyers actually bought them. Relying on trust seemed to work remarkably well, and meant that the site could almost be left alone to run itself. The site had been designed from the start to collect a small fee on each sale, and it was this money that Omidyar used to pay for AuctionWeb's expansion. The fees quickly added up to more than his current salary, and so he decided to quit his job and work on the site full-time. It was at this point, in 1996, that he added the feedback facilities, to let buyers and sellers rate each other and make buying and selling safer.

In 1997, Omidyar changed AuctionWeb's - and his company's - name to 'eBay', which is what people had been calling the site for a long time. He began to spend a lot of money on advertising, and had the eBay logo designed. It was in this year that the one-millionth item was sold (it was a toy version of Big Bird from Sesame Street).

Then, in 1998 - the peak of the dotcom boom - eBay became big business, and the investment in Internet businesses at the time allowed it to bring in senior managers and business strategists, who took in public on the stock market. It started to encourage people to sell more than just collectibles, and quickly became a massive site where you could sell anything, large or small. Unlike other sites, though, eBay survived the end of the boom, and is still going strong today.

1999 saw eBay go worldwide, launching sites in the UK, Australia and Germany. eBay bought half.com, an Amazon-like online retailer, in the year 2000 - the same year it introduced Buy it Now - and bought PayPal, an online payment service, in 2002.

Pierre Omidyar has now earned an estimated $3 billion from eBay, and still serves as Chairman of the Board. Oddly enough, he keeps a personal weblog at http://pierre.typepad.com. There are now literally millions of items bought and sold every day on eBay, all over the world. For every $100 spent online worldwide, it is estimated that $14 is spent on eBay - that's a lot of laser pointers.

Now that you know the history of eBay, perhaps you'd like to know how it could work for you? Our next email will give you an idea of the possibilities.