AW Daily - Tips & Tactics - After the Auction: Relisting Auctions

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For sellers, there's no greater frustration than listing an auction that fails to elicit a winning bid. But don't despair when one of your items doesn't sell. You still have the option of relisting your auction. The second time--or even the third or fourth time--might be the charm. Our tip offers information and guidelines that will hopefully turn an unsuccessful auction into a successful one.

Know Your Site
Most auction sites make the process of relisting very easy. Some sites charge for relisting, some don't. Make sure understand whether you will in fact be charged before you list again. You might not want to incur more fees if you're relatively certain you have an item that probably won't sell. But if it's free, then hey-- you've got nothing to lose. When doing the initial listing of an auction, some sites offer you the option of indicating whether you want to relist right then and there. Some will even automatically relist for you.

Find out about your auction site's relisting policy. (Information on relisting is generally found on pages that contain information about the site's fees.) eBay, for example, will charge you for relisting if your auction ends unsuccessfully the first time around. However, if the second auction is successful, the site will automatically refund the relisting fee. On Auctions.com, you can relist an auction up to three times without any additional charges. (There is, however, one restriction: it must be the exact same listing that ran previously.) Obviously, on free sites, such as Yahoo Auctions, relisting is free as well.

Strategize
So what went wrong? Well, there are a number of things to consider changing when you relist:

Come up with a new auction title. Is your original title too vague? Too boring? Are you using good keywords? Are you relying on unnecessary adjectives or annoying L@@Ks and MuSt HaVes?

Rewrite the auction description, possibly adding better keywords and making the text more engaging.

List under a different category that might be more appropriate or draw more traffic.

Add a photo (if you already haven't).

Have your auction end on a different day and/or time. People browse auction sites at various times throughout the day and week, and sometimes all it takes is a different audience for your item to find a new home.

Decide whether your opening bid or reserve price is reasonable. You might be asking too much. And if you listed a reserve auction that closes without any winning bids, you might think about relisting without a reserve.

The Waiting Game
But sometimes it's just a matter of timing. So how long should you wait before relisting? Some sellers like to relist right after an auction ends (making the kinds of modifications mentioned above), while others prefer to wait a few weeks. Either way, consider that round two. If the second listing doesn't work, try again after another two to four months. A little patience, fortitude, and luck can go a long way. In general, keep an eye out for market cycles in the type of merchandise you typically auction. What doesn't sell one day can become popular within the next few months.

Take It Like a Pro
If after relisting three or four times and trying different strategies and still your auction fails to garner a winning bid, then it's probably time to face the fact that you won't be selling this particular item--at least for now. Either accept the loss (easier said than done), get rid of the item, decide if perhaps you can use it in some practical manner (doorstop, paperweight, etc.), or wait it out stoically for the long term--who knows, in five years you could be in possession of a hot collectible that turns out to be The Next Big Thing.

Writing Professional Descriptions
Writing Auction Titles
Building an Inventory