How to do auctions. Search for a auction exactly like yours with 4 or 5 bidders. Wait till it is down to a hour. List your buy it now item 15-20% below that auction price. Pack it up the next day.
The better way to do it. Is wait until the auction is over and that way you can see the second place bid that got outbid and list your item as a But it Now just under his highest bid. Listing yours an hour before may cut you out of a lot of money before the auction is over.
@2Muffins_in-an_Oven An hour before is when the top people start looking. Knowing that they are willing to spend say $380 a hour before. If they loose at $403 then they already have your listing saved and ready to buy it. You placing it at $360 did potentially loose out on $43. But you also sell the thing within 2 hours of listing it not the 7+ days the auction took .
Auctions make sense if you want a quick flip on stale listings. If something has been sitting one year +, it's time to do auctions and start at your lowest accept price.
Wait… eBay in the US charge a selling fee?? Here in the UK as a private seller, you can list and sell items for free! The only exceptions are vehicles and overseas sales.
I would only do an auction of say a super rare that is at least worth $500, and start at like $450. Never any crazy risks. If I started that item that I know is worth at least $500 at $0.99, it could end up at like $20 if im unlucky... Its all up to the people visiting the site at that time. I rather wait for that perfect buyer to pass by. The era of auctions are over imo. Not worth it.
I only use ebay auctions to source from, started doing that during the lock down to get inventory and I never stopped, so many lots of items selling cheap all day and night, i especially like the ones ending at 3-5am, low competition for those always.
If you use auction just start it at what would be your lowest BIY. If it sells great but you might make a little more, Plus it's fun to watch the final auction moments
Auctions are dead because too many Ai robots bidding on the items and you have to remember that there is an auction going on I’ve already missed so many auctions watching this video 😅
How to do auctions. Search for a auction exactly like yours with 4 or 5 bidders. Wait till it is down to a hour. List your buy it now item 15-20% below that auction price. Pack it up the next day.
The better way to do it. Is wait until the auction is over and that way you can see the second place bid that got outbid and list your item as a But it Now just under his highest bid. Listing yours an hour before may cut you out of a lot of money before the auction is over.
@2Muffins_in-an_Oven An hour before is when the top people start looking. Knowing that they are willing to spend say $380 a hour before. If they loose at $403 then they already have your listing saved and ready to buy it. You placing it at $360 did potentially loose out on $43. But you also sell the thing within 2 hours of listing it not the 7+ days the auction took .
Very smart....
I only do 2 or 3 auctions a year. I always start at the lowest price I would be happy to accept., factoring in expenses.
Auctions make sense if you want a quick flip on stale listings. If something has been sitting one year +, it's time to do auctions and start at your lowest accept price.
Wait… eBay in the US charge a selling fee?? Here in the UK as a private seller, you can list and sell items for free! The only exceptions are vehicles and overseas sales.
I would only do an auction of say a super rare that is at least worth $500, and start at like $450. Never any crazy risks. If I started that item that I know is worth at least $500 at $0.99, it could end up at like $20 if im unlucky... Its all up to the people visiting the site at that time. I rather wait for that perfect buyer to pass by. The era of auctions are over imo. Not worth it.
I gave up on auctions 20 years ago. If I start to think that a .99 cent auction is the way to go, I will just get rid of the item by donation.
Ebay is Crazy. I Remember When They Tried to Get Me To Do Penny Auctions On Everything I Had Listed.
Penny auctions used to work well.
I only use ebay auctions to source from, started doing that during the lock down to get inventory and I never stopped, so many lots of items selling cheap all day and night, i especially like the ones ending at 3-5am, low competition for those always.
I agree. I buy off Ebay auctions to sell on Ebay with BIN.
You’re forgetting the original investment cost
If you use auction just start it at what would be your lowest BIY. If it sells great but you might make a little more, Plus it's fun to watch the final auction moments
People starting at 99 cents will lose $ unless they have large following for a niche & can find better items in niche repetitively.
Wow, flashback to when I originally started EBAY. Yes, I did get burned with the .99 start.
I have done 5 auctions since May. Only high $. Start at min I would accept. 4 sold much higher & 1 at starting.
I almost never do auctions. Just too much of a risk.
I just never bothered with auctions. Not fond of them.
I would never consider an auction.
I only do auction when I get a lot of views and no sales when that item was listed as Buy it Now. I start it at $5 less than was listed as Buy it Now.
good strategy
Plus Fees On Tax.
I do no auctions now.
Auctions are dead because too many Ai robots bidding on the items and you have to remember that there is an auction going on I’ve already missed so many auctions watching this video 😅
First