Tips for auction.

[scholrep-0]

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

[coastaltechsolution]

Make sure it is an item people want?

Best time for an auction is if you cannot truly figure out the value but know a price range you want, then start auction at that price. 

[plymouthsales4165]

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@scholrep-0 wrote:

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

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If it is a consumer item have it start (end) at night and if it is a business item have it end during the day

[coastaltechsolution]

Good tips 👍

[inhawaii]

Sell something in high demand. 

[luckythewinner]

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@scholrep-0 wrote:

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

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My tip ... only use the auction format for items that are well-suited to the auction format. 

Auctions are a good choice for items that are unique; or the value is not easily determined; or the demand for the item far outstrips the available supply. 

If not, buyers are not going to wait a week to see if they get your item at a bargain. They will just sort the available fixed-price items by lowest price, and pick the first one that appeals to them. 

[mozartbach1971]

I do nothing except auctions.  Probably the most important part is the title. If you don't put the right key search words in the title, many people who are interested in that item will not find it.  The majority of people search for items using the search engine  title search.  If you're not completely sure you have the right key words in the title, and don't think you created a good item description I think it will likely sell for a low amount, so it might not be smart to start with a very low minimum bid.

[fashunu4eeuh]

Starting an auction off at 99 cents can backfire on a seller. It is safest to start bidding at an amount low enough to attract bidders, but not so low that it cannot cover your fees if you only get one bid.

Using a reserve can kill an auction before it gets off the ground. This didn't use to be the case, but my experience with it is that it kills it now. Start the bidding at the lowest price you would be happy with if you got only one bid, and forego the reserve price. (In other words, start the auction at the price you would have set the reserve at.) 

I don't run many auctions much anymore, but when I do, I normally choose 7 day duration and like to end them on Sunday evening. With high demand designer goods, I would sometimes use 3 day auctions with good effect, but the item must be special so that it draws an immediate bidding response.

Let the auction run to its conclusion. If you have a popular item, you may get offers from buyers who want you to end the auction and sell it outright to them, especially if you are a new seller. Offers often mean you have a hot item, and they are hoping to snag a deal before it gets bid too high. I always invite them to bid after telling them I want to be fair to the current bidders so I won't end it early.

Set your Buyer Requirements at the strictest level to block serial non-payers. This will help minimize the possibility of your getting one after the auction concludes. Below is a link on how to set this up.

On that line of thought, let me add that zero or low-feedback buyers are as valid a buyer as any other, and a lack of sales history is not necessarily an indication of an eventual non-payer. A scammer cannot be defined by a feedback score alone. New buyers are coming to online sales due to the pandemic. They should be welcomed and not held up to suspicion, as some sellers do.

Don't be discouraged if you don't see any bidding right away. Often the most robust bidding happens in the last few minutes (and even seconds) of the auction. 

Good luck with your auctions, and wish you much success on eBay! Below is the link to Buyer Requirements and the Help page for Auctions. Come back anytime you need some help. There is always someone here to do so.

https://www.ebay.com/help/selling/listings/creating-managing-listings/setting-buyer-requirements?id=...

https://www.ebay.com/help/selling/listings/selling-auctions?id=4110

[reallynicestamps]

Put a Buy It Now on the Auction, but not a Best Offer.

If someone messages you with an offer, politely encourage them to bid.

Have Unpaid Item Dispute set up to open automatically, because most UIDs seem to be on Auctions. Try to take that in your stride.

[chapeau-noir]

Don't auction clothing.

[scholrep-0]

fashunu4eeuh No seriously THANK YOU for responding to the buyer's requirement thing really did help!!!

[releasethekraken_1]

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@scholrep-0 wrote:

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

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Always set the starting bid at an amount you'll be satisfied with if you only get one bid, because a lot of the time, you'll get either one or none.

[thedishwitch]

From a buyer's perspective, if you have more than one auction running, don't have them end at the same time, at least space them 3 minutes or so apart in case a buyer wants to bid on all of them.  I like to bid in the last 10 seconds or so and cannot do so when the auctions all end at the same time.

[ra_201044]

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@releasethekraken_1 wrote:

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@scholrep-0 wrote:

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

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Always set the starting bid at an amount you'll be satisfied with if you only get one bid, because a lot of the time, you'll get either one or none.

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This is usually WHY you either get one or no bids. People usually start their items at a high price, and most pass them by(usually because it's higher than they will ever sell for). Then they keep relisting at a lower and lower price. If you start it at what it's worth, don't bother with an auction - may as well use a BIN. 

When you start low on a higher demand antique/collectible item, you usually get bids right away. Other bids then follow for a bit before it slows down/stops until the last day, usually in the last few hours and minutes. Even live auction houses start the online bidding at 1/4 or 1/2 the low end of the estimate.

[lja440]

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@ra_201044 wrote:

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@releasethekraken_1 wrote:

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@scholrep-0 wrote:

Hello everyone, I know auctions on ebay are not as popular as they used to be but what are some tips to run a successful auction (If any)?

---

Always set the starting bid at an amount you'll be satisfied with if you only get one bid, because a lot of the time, you'll get either one or none.

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This is usually WHY you either get one or no bids. People usually start their items at a high price, and most pass them by(usually because it's higher than they will ever sell for). Then they keep relisting at a lower and lower price. If you start it at what it's worth, don't bother with an auction - may as well use a BIN. 

When you start low on a higher demand antique/collectible item, you usually get bids right away. Other bids then follow for a bit before it slows down/stops until the last day, usually in the last few hours and minutes. Even live auction houses start the online bidding at 1/4 or 1/2 the low end of the estimate.

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I absolutely positively do not agree with you on this. When I list I almost alwaysuse an auction format. I will NEVER EVER start an auction at less than what the least I can take for the item AND MAKE A PROFIT. 

This is how I figure my starting price. 

First off I do check the trending prices before buying my inventory. But sometimes I end up with box lots and table runs. 

First is what I have in the item. Plus all listing fees and an estimated FVF based on trending info. I also add 3-5% for my risk fund (self insurance) and to this subtotal a minimum profit (usually 30%). This equals my auction starting price with an additional 30% for a BIN.  Of course if you are listing with free shipping this needs to be included. 

Yes sometimes this starting price is close to the trending price or even over that. These items will need worked into a lot situation, and this happens fequently with box lots and table runs. But it doesn't mean that there is no profit to be had. I once wanted  a handfull of coffee table books and ended up with the whole back seat and bed full of boxes and boxes of books (2-8ft long tables full),( the couple were readers with a capital R). I kept my books and some others I found interest in and listed lots by author and genre and made over a 300% profit. 

I due to the extreem hours during covid at work (USPS) I have not listed anything in the past year. It's all I can do to slap pricetags on items and drop them off at my B&M. But my sell through was consistently around 80% in the categories: books, records, costume jewelry, clothing, china and glass. I do not sell in any tech, electronic or gaming categories.