posted on August 19, 2001 09:45:28 AM
I'm thinking that mid August probably wasn't the best time to be leaping. I find that 40 percent of the bids come in the last few hours of the auction. If ebay is having functionality issues in the last hours of your auction it won't matter how desirable you item is it's going to close for a pittance. And if ebay's down you can't cancel bids and end the auction.
Also why no shipping to Alaska and Hawaii? Lost bidder = lost dollars for you.
You've got to have something really desirable, collectible, valuable or whatever.
I sold a valuable vintage guitar last fall and I knew is was an easy $800 item. I also knew I was safe starting it at .01 cent no reserve because the bidders would be fighting over it. It ended at over $1400.00, which was a pleasant surprise.
But to try this with an item that is worth perhaps $20.00 and is available all of the time is not such a good idea. Huge difference in the excitement level.
[ edited by loosecannon on Aug 19, 2001 09:50 AM ]
posted on August 19, 2001 02:31:15 PM
Well, 60% done now with the auctions that end today, and we are at $538.61. I just watched a cell phone that regularily goes for $50.00-$70.00 sell for $29.99.
At least I recouped my expenses out of this batch. I am hoping for some real gems in the next batch. I am not completely convinced that it works, since I am not showing a profit yet....(and I stress "yet".
As far as the AK and HI question: I do not ship there because I quote a shipping rate in my auctions, and my shipper charges extra to ship to Alaska and Hawaii.
As far as eBay going down while my auctions are ending: I have been toying with the idea of adding a term to my TOS stating:
"All auctions that end during an eBay outage are null and void. By bidding on this item you agree to the terms of this auction."
Actually, it seems to be the higher priced items that are not going as high as they should. The lower priced items are actually going fairly high (ie. A widget that normally ends for $6.00-$9.00 selling for $11.00). I think that I am going to have to consider only starting the lower priced items at $1 NR, and giving the higher priced items a little nudge in the right direction.
posted on August 19, 2001 02:51:01 PM
Well, still going up, and I must say, I am falling in love with this new auction listing software. I haven't had to send one EOA email all day! Where have you been all my life????
posted on August 19, 2001 03:04:16 PM
I don't think your idea of adding that to your TOS (about the possibility of outage) will fly, really. I guess you could say it, but it's hard to tell about ebay's periodic outages. Most often it seems to be just a mini-crash of the seller search page, feedback function, or some other non-essential feature that does not keep them from bidding.
And I have gotten bids before when ebay was *down* so it's hard to say. You might even end up getting a few negs over it if you tried to enforce it.
[ edited by loosecannon on Aug 19, 2001 03:06 PM ]
posted on August 19, 2001 03:18:08 PM
I am happy to say that my theory about higher priced items not selling as well when started at $1 NR just got thrown out the window with an item that ended for $20 more than the average selling price!
I am officially in the black on this set of auctions, and am hoping the others go this well!
edited to add: loosecannon: email me at [email protected]. I am interested to find out some info about this company in Arkansas
[ edited by revvassago on Aug 19, 2001 04:34 PM ]
posted on August 19, 2001 05:00:50 PM
I sell for .50c and $1.00 N/R. But I have an International audience. I win some, I lose some. I win more than I lose, or would stop trading!
Edited to add Good Luck from UK.
[ edited by GreetingsfromUK on Aug 19, 2001 05:02 PM ]
posted on August 19, 2001 05:20:17 PM
I think that ebay has occasionally pulled auctions for such "ending during ebay outage" disclaimers. They do not grant sellers the right to add such terms (and generally do not admit the problems exist).
posted on August 19, 2001 05:29:46 PMfigmente: Can you show me where eBay has this policy? As far as I know, the only TOS that they will end an auction for is adding extra fees for Credit Cards.
posted on August 19, 2001 05:42:07 PM
WEll Frist of all in there term doesn't it say they are only a venue You uses the service as is and will not hold them responable for any loss of income due to problems ????
SO basically if there is an outage they could just say tough luck but they due extend auction if there is a few hours down time in the last few hours of any auction ..
posted on August 19, 2001 05:51:42 PM
No, there are many pages of polices to peruse, but a specific statement is not needed. There is no applicable equivocation in their basic "obligated to sell" statement. So far as I know there is no explicit statement that auctions containing criticism of ebay are not permitted, but many, many cases of such being nixed. This sort of disclaimer can be considered criticism as it implies performance failures which they do not admit to. I believe there is a catchall policy statement to the effect that they can end any auction they do not consider appropriate.
posted on August 19, 2001 06:06:47 PM"All auctions that end during an eBay outage are null and void. By bidding on this item you agree to the terms of this auction."
Good luck with that one, it won't fly, and I HAVE seen eBay smack some folks around for trying it. First off you are required to complete the transaction with the high bidder, unless of course the reserve [if you have one] is not met. Secondly you are opening yourself up to negative feedback, which if I was the bidder you would most definitely receive.
posted on August 19, 2001 06:12:30 PM
Good luck with your $1 NR auctions, it is definitly the most fun I have ever had on ebay is when I run those. Why don't I always? For what it's worth, (very little I know) here is my experiences;
Selling Gold nuggets and dust....$1 NR is always the best, generates the best prices for me, especially on larger quantities. If I start at a reasonable price...no bid wars, very boring and not as much money.
Old coins (low end commons)...$1 NR, again I got better money when sold off a coin collection in batches.
Rocks, Agates and Jasper and Petrified wood etc., ......OUCH!!! NO WAY!! man I hurt myself when I did those, but it's a much more select audience or something. I let some really good picture jasper go for dirt cheap about a year ago.
I've sold other stuff too....video games, movies, and old books, you know how it is.
So for me, if something has good solid value, and a wide audience it's a good bet to go a buck and let the bids fly.
It can be risky.....a while back I bid on some arrowheads that a guy was selling for $1NR, boy did I get a deal.
And in August? Hmmmmm, I'm even nervous about listing some gold right now....since the July 4th I've suddenly ground to a halt to where i don't even hardly list now.
But good luck and have fun at it. I used to have a retail store selling Liquidation stuff, it was a blast. I really should go back to it instead of this idiot job I have. But no partnerships this time....sole propiertry only.
posted on August 19, 2001 06:20:28 PM
I was actually amazed to find so many people doing the same thing I am - selling liquidation merchandise. And most of them are selling it untested (My favorite is the one who sells everything as DOA, no matter what).
Oh well, let them sell untested. All the more bidders for me!
posted on August 19, 2001 07:09:16 PM
Congratulations. I hope you make as much money as I am!!! Good luck!
"Anything the mind of man can believe and concieve, it CAN ACHIEVE!"
posted on August 19, 2001 07:52:45 PM
If everyone started their auctions at a minimal bid then eBay would become a lot more trafficked site and all sellers would do better.
posted on August 19, 2001 11:20:17 PM
Packer, if I was bidding on your American Fostoria auction and I saw a link that said "Check out my other _American Fostoria_ auctions and save on shipping" I would probably click on it. A link to seller's general auctions is probably a good idea too.
I'd suggest using your seller ID or email addy as one of the keywords, so that other sellers can't "piggy-back" on your search.
posted on August 20, 2001 09:35:50 AM
If everyone started their auctions at a minimal bid it MAY generate more traffic...but it also could cause the variety offered to slip substantially.
If the seller could be guaranteed that there will always be several people interested in an item and willing to bid everytime an item is listed, a rock bottom listing price could work. But, since the "audience" at any one time may not be around when an item is running there is to much of a chance that the item would end up selling far below the seller's cost.
A low minimal bid requires that also not be a reserve, meaning the item can sell for the opening bid. The volume seller may be able to average the lows and highs to make a profit, but the smaller seller who only lists a few items a week would be more severely affected if those several items closed at the minimal price. This would cause him to eventually withdraw his merchandise from ebay and thus lowering the variety.
Some sellers who use the low minimal starting bid build their costs into their shipping charge and also do not combine purchases to lower shipping for the customer. So they cover themselves in that manner and aren't hurt when their items end at the minimal bid. as long as the item is one that has a small purchase investment, those sellers will be able to make money.
The problem occurs when the seller is selling items that take a higher investment cost...these can't have the cost covered by the shipping. When you have an item that required an investment of $25, $50, $200 there is no way to increase the shipping to cover that cost. The bids have to rise above the investment the majority of the time or the seller stops selling.
Right now I think that the reason some are able to make a profit at $1 NR is because of the novelty...it is not common to see such auctions. If everyone did it it wouldn't generate as much activity. right now its a marketing gimmick.
posted on August 20, 2001 09:57:34 AM
I tried it myself for a while, but in my case, it didn't work too well. I started items which I would typically list for $4.95 (and sell on the first listing 9 times out of 10) at $1.00. They were ending with 8 bids at around $3.00 or so- for some reason, bidders refused to bid more than the next bid increment. So no more of that for me, thanks.
But if you can list an item for $1 with no reserve and make money, go for it.
posted on August 20, 2001 10:09:25 AM
It's a tactic (or gimmick as amy put it) that works like a charm with high dollar items. I mean items worth perhaps hundreds. I probably will never try it with a $10 or less item again.
I've got an item on now, a re-list that a deadbeat never paid his lousy 8.99 bid price on. So I said to heck with it, re-list it at $1 no reserve. It closes tomorrow and it's at $4.76 and has had 8 bids, so there is something to what mrpotatoheadd is saying.
But, I've still got a chance to get a good price for it and it may go for more than the original $8,99 price.
posted on August 20, 2001 10:18:54 AM
For me, eBay is a bit slow right now. If I would consider using the $1.00, no reserve tactic, it would be in October or January--when the "lookie lou's" are perusing eBay.
At this time, have to stick to a reasonable starting bid, with no reserve. Has worked for 2 1/2 years and I "ain't" changing my strategy.
Only once tried the $1.00 no reserve and that was on Yahoo last summer. It was not pleasant when the post office made more than I did on a transaction. 'nuff said.
posted on August 20, 2001 11:11:46 AM
For the longest time, I thought people just won't bid if a price starts higher.
WRONG!
$1 openings draws bidders like flies to garbage cans. But a low price smells like garbage to a bidder who can and will spend. The lowball bidder doesn't care and makes little buzz bids for entertainment. People who are cheap on their bids are legion and live off sellers who trash their stuff to get bids. The deadbeat ratio soars on these too!
A colleague told me he starts all his stuff at about twice what I did and had 80% sellthrough. He's right. If I can sell most of my stuff for more, the items that don't fly right away have bought more time. And I don't have sucker branded on my forehead while I wait.
posted on August 20, 2001 11:17:31 AMthat works like a charm with high dollar items.
Sorry, I disagree. As Amy stated:
"But, since the "audience" at any one time may not be around when an item is running there is to much of a chance that the item would end up selling far below the seller's cost."
and of course she's correct.
I have 2 items up right now that each have bids in the $500-$700 range.
The ONLY reason I listed these 2 items in mid August is because I KNEW [I checked before listing them] that were several very active bidders in this category.
I still wasn't willing to let then fly at $1 NR, and placed reserves on both of them, and both reserves were met within the first 24 hours.
If everyone started their auctions at a minimal bid then eBay would become a lot more trafficked site and all sellers would do better.
Sorry, I don't agree with that comment either.
IMO if "everyone" started their auctions ata minimal bid what you would see is a whole lot more WHINING over here on AW about how cheap their items are selling for.
I used to ship art work to one of the major auction houses down East, and the person who handled my merchandise would NEVER start these items below what he felt the market would/should bare at a good sale. His reason was simple, it would hurt me [the consigner], it would hurt the auction house, and it would hurt the overall sales of the art itself. These wre very collectible & expensive items and he refused to ruin the market by giving buyers the impression that these items could be bought for a song. If once in awhile one fizzled, he simply held it over until his next specialty sale & then ran it again.
I was never disappointed in the sales.
I sell a fair bit in one particular category on eBay, I know my merchandise, I know what it should bring on an average week, and I refuse to give things away due to an "off" week on eBay.
AND, it does indeed happen. I see sellers who are willing to start $150 items for $24.99 [or less] and gamble that their item will do well. I imagine most of these sellers have very little invested in the items so perhaps a sale at $25-$50 seems great.
The problem is that in the long run they are screwing the market up, for both themselves and others, by allowing these items to go at these bargain basement prices due to an "off" week on eBay.
I do at times use $1 NR auctions, and will be the first to admit that it really IS a gimmick. I'm hoping that the numerous bids will cause newbies to take a closer look & hopefully once they're in they will bid.
Let's face it, this gimmick won't work with seasoned buyers, and most savvy buyers will see it for exactly what it is, a gimmick.
Does it work, yes, can you lose your shorts on items, yes.
Like everything else on eBay it depends on your merchandise AND your customers on whether this is, or is not, an auction style that will work well for you.
posted on August 20, 2001 11:37:28 AM
I've always listed $1.00 NR auctions. I watch my bid number rise and in turn I watch the $$$$ rise. I've been disappointed a couple times, but that was offset by the happy dances I did on many others.
The only thing I worry about is other sellers in my catagory employing the same tactics. I watch them list the same item for $75 or low with a reserve that I list for $1 NR. I beat them every time, every time.
There is book value and their is the price you'll get on eBay. The price you get on eBay is the accurate worth. Books don't make purchases.
posted on August 20, 2001 11:41:51 AM
OK, let me rephrase that.
It works like a charm on high dollar items for which there is much demand.
It boils down to knowing your merchandise and the market.
If you have a high dollar whatever but there are only 10 people on the whole planet that want it, 2 of which might see it on ebay, then forget the $1 no reserve.
[ edited by loosecannon on Aug 20, 2001 11:42 AM ]
posted on August 20, 2001 11:59:45 AM
"There is book value and their is the price you'll get on eBay."
Eureka! Truer words were never spoken!!
Sometimes book value is way off the mark on what eBay prices are and then there are those very special times, when book prices are incredibly lower than what eBay prices are garnering.
Book prices are just that, book prices.
eBay is a pretty good indicator of what the market is willing to spend.
It has been a real eye opener for me when resin Cherished Teddies get a higher bid than vintage Westmoreland Milk Glass. But, hey--I am willing to go with the flow!
I don't believe you sell the same items as I do, or your stats wouldn't be the same.
I'm also not sure where the "book" value comment came from? eBay is most certainly not THE price guide of the planet, and if you believe it is, whoa! One of the high bidders on my item that's near the $700 mark is a DEALER.
The "book" value, and one that he WILL get for this item locally, is in the $1,500-$2,000 range.
eBay sure as hell isn't a realistic benchmark for antique & collectible prices, and it never will be. I have SCORES of B&M Antique dealers who buy from me. One in northeren CA has told me that as fast as she gets my items in, they're sold. In her area these items are VERY hard to find, and in my area they are rather plentiful.
Believe it or not, not EVERYONE is online & buying their collections on eBay.
Now, for the VERY rarest of rare, eBay can still fetch a seller top $. I had an item close this weekend for close to $250, that I paid $4 for at an auction, that looked like it had been dragged behind a truck for a couple hundred miles. I knew it was a very rare piece, and assumed it would fetch $25-$50. Had I sold this piece locally I would have been lucky to get $10, so it works both ways.
posted on August 22, 2001 06:33:56 PM
Well, I have an example of high dollar items selling high when started at $1 NR:
A widget that averages $120-$150 on eBay that I started for $1 NR sold last weekend for $182.50. Bidding was fast and furious at the last minute. Currently, the highest price on one is $51.00, ending in 4 days. All of the same exact ones that have a starting price at or around what mine sold for have no bids.
I also started another auction this weekend for a different widget with a starting price at the low end of what they sell for. I haven't had any bids yet, and don't expect any. I am really beginning to like the $1 NR!
BTW, I have heard from 88% of my bidders on auctions that ended this weekend, and expect that some of the other 22% just sent payment without replying to the EOA.
And I only had 1 person complain that I didn't take PayPal.....but that is another thread.
[ edited by revvassago on Aug 22, 2001 06:35 PM ]
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