Ebay auctions are really appealing to resellers because they have potential to bring in more money than a set price has, BUT auctions can also fail miserably if they aren’t set up correctly. Setting up an Ebay auction for success is they key to gaining exposure to your auction, which will bring in bidders. How exciting!
When I first started selling on Ebay earlier this year, I sent everything to auction, but I quickly realized that auctions don’t always do well and bring in bidders. Some of the items I sent to auction sat around for what seemed like forever, even when I started the auction at a super low price! Recently I’ve had a lot more success with using Ebay auctions to bring in more income, so here’s a few tips and tricks that I consider when sending an item to auction:
1. Don’t start an auction at 0.99 cents.
A lot of resellers swear by starting every auction at 0.99 cents, but through experience, I’ve found that setting up 0.99 cent auctions is a great way to LOSE money. #realtalk
A way around losing money at 0.99 cent auctions is to set up a reserve amount, if you don’t mind the extra fee Ebay charges to set that up. Otherwise, starting an Ebay auctions at the least amount of money you’re willing to take for it is a great way to test out using the auction feature without fear of losing money.
I’ve found that 0.99 cent auctions generally aren’t successful because people are cheap and they don’t want to bid more than they have to.
2. Send items with lots of watchers to auction.
I’ve also started sending any BIN listings to auction if they get a handful or more watchers within a short amount of time after being listed; say, a day or two. Having a lot of watchers isn’t the end all be all of having a successful auction, but it certainly tells me that the item I have listed is actively being searched for.
3. Send trendy or “hot” items to auction.
If I know an item is hot, then I’ll send it to auction as well.
For example: if you guys follow my instagram, then you’ll know I bought a LuLaRoe dress & leggings set thinking that it was adult sized, but it turned out to be toddler sized. Oops! I wasn’t too sure what to price it at for BIN because comps were all over the place, so I sent it to auction with the starting bid being $19.99, which is the highest I’ve ever started an auction. Well, the final bid was $41.00, which was awesomeeee!
Some brands that are trending now that would be great to send to auction include: LuLaRoe, Lilly Pulitzer, Athleta, LuLuLemon, and more. Be sure to research comps before sending an item to auction so that you can make an educated guess for the start price!
4. Know when your customers are shopping
Another way I set my auctions up for success is by having all of them end on a Sunday, and sometimes Monday. People shop online more frequently and impulsively during those days, and are more likely to bid if your auction is ending soon while they’re online. Research when your target audience is shopping and set your Ebay auctions to end accordingly for best results.
Let me know in the comment section below if you’ve had any success with Ebay auctions!
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Disclaimer: I sell on Ebay part time. Any reselling advice given on my behalf is through my own personal experience. Results may vary.