|
|
|
All About Online Auctions
All About Online Auctions
How to make Auctioning a Profitable Business It wouldn't be
exaggeration to say that hundreds of thousands of people from
across the world visit buy and sell myriad products on auction
sites. One popular site has a...
Drive Yourself to More eBay Auction Money
Big ticket items are increasingly popular on eBay.
Cars are probably one of the best examples of this.
In fact, eBay is the largest dealer of used cars in the USA. And eBay's car sales in the UK is also growing significantly. Every 16...
eBay Auctions - Listing for Top Dollar
If you're at all familiar with eBay, you know that some seller's listings always seem to end at a higher bid than other seller's listings. Do they have secret knowledge that gets them higher bids? In a way, they do.
There are some tried and true...
Tips on internet auction titles
With the millions of auctions that are on eBay and the thousands
of similar products, you have to find a way to set yours apart
from the others. You can spend extra money on listing features,
but this cuts into your profits. One thing you can do...
Want to Grow Your Business? Try Being an Auction Seller
Every business owner, from the largest conglomerate to the
smallest storefront, has the same goals in mind: finding new
customers and making more money. Most merchandise-oriented
businesses have already turned to the Internet, and now it's
hard...
|
|
| |
|
|
|
|
eBay auction pricing strategies that really work!
If your items aren't selling, then you might have a bad pricing strategy. There as many pricing strategies in the world as there are buyers - if you look at two businesses selling the same thing, often the only difference you'll be able to find between them is pricing.
The 'Few Dollars More' Strategy.
Here's something you might not have thought of. If you set your auction's starting price to what you would usually charge for Buy it Now, while setting the Buy it Now price a few dollars above, you can make a profit by setting off an interesting psychological reaction in the buyer's mind.
Here's what they'll think. They want the item, but why should they bother bidding for it? After all, they could use Buy it Now for just a few dollars more, and be sure of getting it! Doing things this way makes the value of the Buy it Now option extra clear to the buyer, and makes them more willing to pay extra for the privilege.
The 'One Dollar Less' Strategy.
This is simple, but requires you to keep an eagle eye on your competition. As soon as they start a Buy it Now auction for an item you stock, start an auction for one of those items yourself. Match the title closely, but price your item one dollar less than theirs. This will mean that your auctions will sit together in the search results, and who's going to see both and go for the one that's a dollar more expensive?
The 'Free Shipping' Strategy.
Buyers really hate paying for shipping. With Buy it Now, you might find it easier to incorporate the shipping cost into the main
price of the item, and then write "free shipping" in the auction's title. You'd be surprised how many buyers would prefer to pay one price including shipping for the auction, instead of having shipping added on at the checkout. Again, this is psychological: they pay the same at the end, but it doesn't feel like they've paid an unnecessary 'extra' cost for Internet shopping.
The 'Go for It' Strategy.
If you'd like a slightly more risky strategy, try this. List your item for the maximum duration (ten days), starting the listing on a Thursday so it goes across two weekends and finishes on a Sunday. Set the starting price to the minimum (one cent).
What you're trying to do here is give bidders as long as possible to discover your auction, so that they push the price up themselves. Pay for a few upgrades like bold and highlight, to give them a helping hand. If you do this right, you can make a much bigger profit than you would have with any Buy it Now price, especially with a medium or high value item.
About the Author
Paul is Head of Training for a major UK Charitable Organisation with a wealth of experience in personal development, management development, e-learning and operational management. In addition he owns PK eBooks (http://www.pk-ebooks.co.uk) two sites specifically aimed at those who want to successfully sell on eBay http://www.ebay-profits.co.uk and http://www.info-entrepreneurs.co.uk
|
|
|
|
|
|