posted on September 22, 2000 07:51:16 AM
Some of you may remember my troubles with NPB's that I wrote about recently. This kind of stems from that. This is one of the more strange things that has happened to me since I started selling on ebay.
I had to neg a bidder for not following through on an item recently. It was an unexciting auction that didn't do much as far as bidding and it closed for around 21.00 or so. I wouldn't even have made much money on it if the bidder had paid. I re-listed the item after I negged the original winner.
The item now has 33 bids and is over 130.00. This auction is nearly identical to the last but I changed a couple of words in the title only. At first I thought someone might be just playing and running the price up, but the bidders appear to be legit. One does have zero feedback, but the high bidder has very respectable feedback, and he's kept the high bid throughout this morning's bidding frenzy on the item.
posted on September 22, 2000 07:56:39 AM
Hi Loosecannon, this is wonderful news!! Ah, but a few changed words--must have helped people pick it up in their search. I try to always remember to change the wording and or category when I relist an item. Results have not been as startling as yours, but it does usually work! Yippee for you!!
posted on September 22, 2000 08:19:40 AM
You have to tell us what the magic words were. I now there are magic words. Haven't you ever heard someone say "If he had just said one more word, I would have killed him."? I want to know - what is that word?
posted on September 22, 2000 08:32:48 AM
Hi Jeanyu and yisgood
If I gave you the word then everyone could find the auction! Everyone probably will find it anyway.
I have a lot to learn, but I am learning, even if a little more slowly that I would like.
Search words are everything. I sell a lot of old vacuum tubes and if you just put the tube number in the title not much happens usually, but if you can find out what the tube was used for, a particular piece of equipment it fits, and put that in the title, the bids usually go high. One tube I sold a while back went for 1.00. Later I found out what it fit and ran two more with the proper key words. They are currently over 20.00 for a pair! But it takes a lot of homework. That takes a lot of time.
[ edited by loosecannon on Sep 22, 2000 08:36 AM ]
posted on September 22, 2000 08:38:04 AM
I agree that search words are important, of course, but the words you changed may have nothing to do with the new bidders.
I recently listed an item with a $99 starting price. Closed with no bids. Relisted without changing a word. Closed with no bids. Relisted, again without chaning a word. It got over 20 bids, closed at $340, and I received payment by Paypal about 10 minutes after the auction ended.
posted on September 22, 2000 08:52:41 AM
amalgamated
I agree. I think the auction I am talking about is more chance (blind luck) than anything. Even if I had known that adding a different word or two to the title would make that much of a difference (I didn't know) I would have still been floored by the results.
[ edited by loosecannon on Sep 22, 2000 08:56 AM ]
posted on September 22, 2000 09:11:10 AM
Glad things worked out for you.
This is a good example of the variations in prices that result from auction selling.
While the change in wording many explain the additional bidders in this case, more often than not, it is just a pattern of bidder interest from week to week plus system problems and number of similar items etc.
This pattern of price variation is evident every day and is most clear when checking new, identical items. Five items closing on the same day, two get a premium over starting bid, one sells for asking price and two don't sell.
Checking the feedback, title, TOS, presentation, category and timing sometimes offers clues but other times there are two listings by the same seller that result in opposite results.
If I were to have an opportunity to purchase an identical item to the one you sold, how much could I pay for it and have a reasonable expectation of selling it at a profit? Looking at your two closed auctions for market price results I sure would be confused.
We have a lot of tools available to assist in better overall results but any given item on any given day often seems influenced by factors beyond our control.
Some day someone might be able to compile a study that shows 'What factors contribute to the highest selling price on average." Every variable would enter into the equation and some would not be cost effective.(For example Featured Auctions might result in higher prices but not sufficiently higher to offset the additional cost.)
"Buy low, sell high" always works but just how to do that in an ongoing manner while enjoying the work seems the elusive goal we all chase.
