Ebay Sellers: your strategies?

In My Humble Opinion
1

So I pulled a few things out of the attic and sold them on Ebay, and now I’m hooked. A few questions:

  1. I’ve heard it’s best to schedule the auction to end on a weekday evening or weekend afternoon, because traffic is highest at those times. True? Is there any more specific info on exactly when traffic is highest?

  2. So far I’ve used 7-day auctions by default. Are 10-day auctions better (more eyeballs)?

  3. What the conventional wisdom on starting price? Say I have a book I think should sell for ~$10. Start it at .01? 8.99?

Any other nuggets of wisdom to offer a newbie Ebay seller?

2

I’ve been selling for a year or so now. Right now I have 30 items listed and only 1 person bidding…I have a feeling I should have waited till later this month!

I never even thought about the start and end times otherwise. I thought it was more seasonal…People seemed to buy an awful lot between October and December, though summer was fairly busy as well.

I like 7 day auctions just because there’s no additional fee. However, if I have a nice item that I think a lot of people should see, I will cough up the extra dough for the 10 day listing. Also, if I’m asking more than a few dollars for it, I figure it’s worth listing longer.

If the book is worth $10, start at $9.99. Also, check the completed listings just to see if anyone else has sold the same item in the same condition and for what price. You can also sell books at their sister site, half.com, for no listing fees, and at a fixed price.

3

I have not researched this, but I do tend to schedule for weekday afternoons or weekends. There have been a few times when I’ve wanted to bid on something, but I’ve been at work and have been so busy I forgot. And there have been other times when the auction ended while I was commuting. Why not just bid my maximum early? Because there are a lot of snipers out there, and I’m more likely to win if I snipe; and even if no one else wants to pay as much as I do, the winning bid is likely to be higher than if I didn’t bid my maximum early. (IME, YMMV.) So during the week I generally try to have my auctions end around 6pm Pacific time. This gives most people the chance to get home and logged on, and is not too late for East Coast bidders.

I always use the 7-day auction. A friend used 3-day auctions. He thought that three-day auctions would attract serious bidders and would reduce the time ‘watchers’ have to change their minds. In my auctions I often see the number of watchers decline. I think that seven days is a good compromise between getting the most people looking at the item, and not giving them too much time to think about it. One thing when I’m looking for something is that I want to buy it as soon as possible. It can be a little annoying when I have to wait an extra three days.

I used to set the opening bid low and set a reserve. I’ve since heard that there are many people who won’t even consider bidding on reserve auctions. So I decide the minimum amount for which I’m willing to sell (which includes my perceived value of the item, insertion fees, final value fees, and credit card fees) and set the opening bid price around there. An example: I sold a 1962-1964 MGB overdrive transmission. There are a lot of transmissions on eBay, often starting at $50 or $100. I knew that my transmission was more rare than the ones being sold for ‘rubber bumper’ cars (with or without overdrive), and that the early transmissions could also be used in MGAs. And I knew how much I paid for it, and I knew how much I paid for the ‘new’ unit from Moss Motors. So I set the opening bid at $499 (less than I’d paid for it) even though there were a lot of cheaper transmission on offer. I ended up selling it for $35 more than I paid for it.

Other tips? Search for things. See how the search engine works. Compose your item description to make maximum use of the limited space available. Also, make your description applicable for things other than for its intended use. I put ‘MGA’ in my MGB transmission description because it could be used in MGAs as well, and it sold to a guy who wanted to use it in an MGA. It really irks me though when I’m looking for a part or accessory for a certain camera, and the seller puts other brand names in the description. For example, I might be looking for a magazine (the thing that holds the film) for an Eclair NPR, and I’ll see a description like: Arri 2B 400’ magazine Bolex Eclair Aaton. On the other hand, I have an Aaton and an Eclair and an Arri and some Bolexes and a couple of Krasnagorsks. Some people might actually find ‘deceptive’ descriptions useful.

4

You want to let peoples natural greed work in your favor. Many people start out an auction with a high “reserve” price, which is safe, but oftentimes if you start out an auction at $ .99 and hang on, you’ll realize a much better price than the original reserve price you were hoping for. The reason is simple - people want to think they are getting a bargain, so starting the auction out low tends to get people’s juices flowing.

Take good pictures, and plenty of them.

5

This can work for some items, but you’re facing a risk. IME people tend to snipe. I’ve seen this on items I’m buying, and on items I’m selling. I do it myself. And many bidders will not bid the amount they’d really be willing to pay. So an item might sit at 99¢ until the last hour, then be bid up a little bit, and then be won for a song by a bargain-hunting sniper. So if you post something for 99¢, be prepared to sell it for 99¢.

As I said though, it depends on the item. If the item is high-demand, then the greed factor will work. If it’s a specialty item, then it will have to be ‘looked for’. Suppose I wanted to sell my numbered toby mug from 12 O’Clock High. How many people look every day for that particular item? There may be collectors who look specifically for Royal Doulton mugs who come across it, but may reject it because it’s not R-D. To get the highest price, you’d need more than one bidder who knows the ‘history’ of the mug and who happens to be looking for one when your auction is active.

On the other hand I’ve seen vintage Rolex Submariners start at 99¢ and then go on to sell for fair market value.

So in my opinion it’s better to set the opening bid at the minimum you will (realistically) accept. If it sells, you’ll at least get what you want. And you may get more than you expected. For myself, I’d rather not worry about wheather my ‘undeclared reserve’ is met.

6

Oh, that too.

Now, eBay will charge you for extra pictures. But there’s a way around it. Upload the ‘one free photo’. Then have your other (appropriately sized) photos on your website, photobucket (or whatever) site, or somewhere else on the web. Use HTML to create the description, and load the additional photos from whereever they are. More photos, no extra charge.

And use the ‘gallery photo’. It costs a quarter, but it makes it much easier for people who are browsing to see what you’re offering without having to open the link.

7

Good pictures are important. A good description is, too - and this is a weakness of many listings. Try to anticipate and answer all questions a bidder might have about your item. Supply exact measurements, model number, etc., etc.

I think it pays to be excruciatingly honest, disclosing every possible defect - in the long run, this definitely works in your favor.

8

I agree wholeheartedly.

I used to buy Coach purses off eBay, use them until I was tired of them, and then sell them. More than once, I bought a bag cheaply, used it six months or more, and then sold it for quite a bit more than I paid, without polishing, repairing, or anything. I just described it beautifully. Good descriptions and good pictures are key.

9

I agree - describe the item in full detail - if it consists of multiple parts, list them all and mention any that are missing if they might be considered standard. If the item has any specifications (country compatibility of electrical supply/plug, maximum weight rating, whatever), list them in full.

10

I’m not a seller, but I will share some opinions as a buyer.

  1. I never buy from a seller who has a low price and a high shipping price.
  2. I never bid on an object with a reserve. I feel that if you have a reserve in mind, start the bidding at that level.
  3. I will usually buy a BUY-IT-NOW product over one I have to bid on - but that is just me. Still, if are selling more than one, you might try listing one each way and see which goes more quickly.

The first two rules are non-negotiable for me. I refuse to buy if the seller breaks either of those rules.

11

I’m a buyer, not a seller. Here’s what I like and don’t like:

I love good pics and detailed descriptions. I can’t handle the object before I buy it, but I do like to know what I’m bidding on. A picture and/or description of a flaw will make a good impression on me, I’m going to think that the seller is honest. I like fountain pens, and will bid on some of the cheaper ones. However, if the seller leaves out what I consider basic information, such as the width of the nib, I’m likely to simply pass on that auction rather than ask a question about it. Descriptions should tell me why this particular item is worth buying. If the seller says that the nib isn’t marked with a width, that’s all right with me, at least the seller is giving me whatever information is available. Tell me the truth, and I might select you as a favorite seller.

I don’t particularly like boilerplate disclaimers (such as “All of our items are used and sold as is”) but I understand the necessity of them. I do read them, and if they seem reasonable, it’s a point in the seller’s favor.

I don’t use PayPal. I just don’t trust it. I can send money orders or checks with no problem.

An outrageous shipping price will guarantee that I don’t buy from that seller. I don’t mind a little extra for handling charges, but if I feel that the seller has put a high shipping charge to avoid paying eBay fees, I will think that the seller is basically dishonest, and won’t buy from that person. And while pictures, as I said, are good, if a listing has ONLY a picture and no description, I’m unlikely to buy. I hate L(O)(O)K!, LQQK!, and similar gimmicks. I usually won’t even click on any listing that uses such gimmicks.

Sounds on an auction page are evil, unless the item is a CD or something. Blinking images are also evil. And if I can’t read the page without straining my eyes, I’m not going to bother. Just put black text on a white page. Don’t use every HTML/XTML trick you know. It’s not going to impress me, it’s going to aggravate me and I’ll hit the BACK button as soon as it loads. I surf with FireFox. This will handle most pages, but it won’t handle everything. Again, black text on a white background is safe, even if you think it’s boring.

Remember, someone else is probably selling the same item. Don’t irritate me, or you’ve lost the sale.

12

Oh, of course it’s a risk - that’s the point. You’re right though, I should have specified this technique is generally only effective on high demand, higher dollar items. People will auction used dish towels and store-demo nose-hair clippers on eBay, but I should have clarified the “Set the price at 99 cents and hang on” bit" doesn’t apply to the chaff items. High demand, high-turnover but desirable items are the key here…