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Secrets of Successful Auction Selling on eBay – How to maximise your profits!

27 Feb

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So, you want to sell something on ebay?

This is the first of several articles aimed for anyone who wishes to sell an item by Auction and does not apply to ‘Buy it Now’ sales.

If you are new to selling on ebay, or an old hand, there are some basic tricks to ensure that your product sells for the highest amount possible and reaches the widest audience. If you follow the advice given you are guaranteed to maximise your profits!

 

Before you start selling

You gain a ‘Feedback Score’ on everything you buy and sell on ebay. This feedback is what buyers use to calculate how trustworthy you are before bidding or buying an item from you.

Firstly build up a good Feedback score by buying from other sellers first. Don’t start selling immediately on ebay without good feedback otherwise you will be giving the items away. Without an established feedback you will not gain the buyers trust, which means the majority of people will not bid on your items, which in turn means fewer bids = lower selling price.

Have at least a rating of 25+ before selling your first item. The higher your starting feedback score the easier you will see the rewards when starting to sell.

 

Invest in a Good Camera!

The better the camera, the better the photo. The better the photo, the more people will bid.

If you have poor quality photo’s which do not show the details of the item you are selling, then less people will know bid. A good photo speaks volumes and will encourage potential buyers to place a bid on your items.

No ‘fuzzy’ or out of focus photos and the more detailed photos the better. If you want to get in close to photograph labels or Makers Marks then you need to ensure that your camera has a ‘Macro’ setting otherwise they will be blurred. I use a mid range Nikon Camera, which gets in closer than any other makes I have tried but do your own research and choose wisely as this can be a major outlay before you start.

 

Reaching the widest audience

This is simple. When you list an auction item on ebay you need to put it on for the Longest period possible, so that the Maximum number of people have the opportunity of bidding for it. The more bids the higher the final price!

Never ever sell with the 1, 3 or 5 day option. By doing so. you are not maximising your profits. If your auction has closed after three days you have missed out on seven days extra bids, so Always, always list your item for 10 Days duration, which is the maximum length possible.

If you are really pushed, then use the 7 day listing but realise that you are losing 3 days of potential bids from buyers.

 

The simple maths and why Weekends are best!

Most people are on their computers in the evenings and at weekends. This is when your item is most likely to be viewed, so it is no good having an item finish at 3am in the morning (unless you are after international sales) as no one will be awake to see it close.

Statistically Sunday evening is the busiest period on ebay, so you want to make sure that your item closes between the hours of 8pm and 11pm.

Most bids are placed at two peak times – When an item is first listed and when an item is finishing, The period in between is when people will add your item to their ‘watch list’ so they can keep an eye on it. These are your potential bidders for when it finishes.

If you use the 10 day listing and follow the advice below, then you will ensure that your item is visible over two full weekends, which again maximises the potential.

 

When to start your auction.

No option here – Thursday evening, on a 10 day listing. – This ensures that it is on for the longest period of 10 days and will close at peak time on a Sunday evening. It will also be viewable over 2 weekends.

If you can’t list, or miss the deadline for listing on a Thursday evening, then your second best option is to list your item on Sunday evening using the 7 days option but by doing so, you will miss the first weekends exposure.

 

In Short –

1) Build up your feedback beforehand.

2) Use excellent photos in your auction.

3) List for 10 days, starting Thursday evening between 8pm and 11pm.

 

And the Best of Luck!

 

 

The next article will cover – How to manage your sales and how to deal successfully on ebay.

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