Storage Auctions
The Marketplace => Selling Venues => eBay => Topic started by: MovieMan on January 10, 2014, 10:15:23 PM
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If you sell on eBay you know that if you conduct an auction your choices are pretty much 3, 5, 7 10 (if I recall correctly), but if you do a straight buy it now you can list an item for 30 days or even have it run indefinitely.
So which choice...auction or buy it now...and what length for the auction?
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For me it depends on the item, after research if it is a popular item that has had several bidding wars, 7 or 10 day auction to get maximum exposure start bid low and let the bid war begin. If same or similar items have ended with 1 or no bids or there are a lot of other buy it nows, if I have the margin, I price it about $5-$10 lower and let it ride the buy it now train until it sells.
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I stopped doing auctions and basically do only buy it now these days. As a buyer I hate auctions. I see a 7 day auction and want the item on day 1. I have to wait 6 days to maybe win this item. If at the last minute someone outbids me I'm either starting from scratch or just give up and go get a buyitnow which I could have had 7 days sooner. I really only buy auctions if I'm looking for a deal and hoping the price will stay low.
As for how long to run auctions. Btw, htey offer 1 day auctions as well. You offer 1 day or 3 day adn you dont get the maximum number of views and attention but you run 7 days and people lose interest waiting a week for an item to end.
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Yeah the majority of what I sell is "Buy It Now", if I have no clue what the price should be I'll do it as an auction and start it with a high starting bid and hope for the best.
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I got a surplus of old magazines which I cut the ads out of and listed some of them (50 or so) on Ebay as a buy it now option. Always listed 30 days. I do auctions as well for most of my other items, which are mainly collectibles. if I start the auction on a Monday or Tuesday, I list for 5 days so that it ends on Sat./Sun. If I list on Sat./Sun. I run for 7 days..
I always list auction with buy it now option when they give away those 7 bazillion listings free for 3 days.