posted on February 9, 2001 09:19:01 PM new
Do you use them?
I would like to get a little faster turn around on my sales and payments--short of using Paypal--and I wonder if 5 day auctions would work well consistently. I've used 5 dayers only very occasionally so I don't have much of a gauge to go by. The times I did use the 5 day it turned out OK. Luck? Or normal?
I use 7 day auctions almost exclusively right now. You know how it is--by the time you get paid for the sale it sometimes can be 2 weeks or longer from the end date of the auction. By then your money might have been tied-up in that item for 3 weeks if not longer. Now if the auction ended two days sooner, I'd get paid a little sooner, and so on...
I used to think 10 day auctions were like an eternity, now 7 dayers are feeling the same way. I don't think 3 days is enough exposure time but 5 days might be, on average.
posted on February 9, 2001 09:24:47 PM new
I think it would depend on the items you're selling. If there are lots of them listed, 5 days would probably be enough, but if items like yours aren't seen every day, a longer auction would give you more exposure, and maybe a better price.
I started using 3 day auctions for items I have a lot of, that also seem to be listed regularly, and have done well- I can sell two items a week instead of the one I was selling before, and it hasn't hurt my average sale price at all.
posted on February 9, 2001 09:28:20 PM new
It really depends on the item, especially when you're doing the $1 NR. I found with "extremely good" items the bidding reached its highest potential with just five days, and with "good" items, the bidding came up a little short. I never lost money, though I know it might have done better with the extra 2 days of exposure.
I'm back to 7 and 10 day auctions and will save the 5 day stints for Christmas-time.
posted on February 9, 2001 10:30:27 PM new
I'm thinking about cutting part of my auctions to 3 and 5 Day instead of 7.These are items that seeming everyone waits to the last hour to bid on anyway,so I'm thinking I could move these items faster by reducing the amount of time running them.
posted on February 9, 2001 10:39:05 PM new
5 day auctions are my most frequently used format. As mentioned above, it depends on the item though. High dollar or low, items that appeal to specific niches or collectors are regularly scanned and noted almost immediately and 5 days keeps their attention pretty well. Auctions for these types of goods are not apparently affected by the shorter run. Items that might appeal to a general buying population thrive with longer exposure. I subscribe to the theory that the longer the auction, the more time the bidders have to find another one, change their mind, blow their paycheck on something really stupid like their gas bill, etc. Also, I think since America has been thoroughly and steadily dumbed-down since the 70s, the average person has the attention span of a 12 year old and longer auctions don't fit in with the instant gratification that they've become accustomed to.
last but not least, I get 5 "weeks" of auctions each month instead of 4, and as you've surmised, the turn over time for remittance noticeably improves your cashflow.
I use 3 day auctions only for items that may attract them VeRO kooks, like DJ or Promo records, etc, you know, stuff that is commonly accepted as legal by thinking humans but technically a snafu for the pathetic netizens who are desperate for the approval their daddies never gave them.
All just my opinion of course.
Kurt
PS one trick I found that works well sometimes is: Occaisionally I'll come across a listing when I'm researching an item's popularity, and I'll see that even though it was just put up, interest in it is high (note the counter if they use one) and it may have several bids already. If mine is as good or better (especially), and their auction has 6 or more days to go, I list mine immediately at 5 days, so it ends first. Its amazing to see the bidders jump ship from the other item.
[ edited by long_gone on Feb 9, 2001 10:47 PM ]
posted on February 10, 2001 12:40:11 AM new
Yeah, I got mad because someone beat me to the BIN and now I have to wait 4 more days and this is just on some common fabric that a couple of sellers put up every week.
So I think 5 days would work fine as long as it includes a weekend. I wouldn't want to try it though on higher priced merchandise or something that falls into a very small niche market.
I know on some of my dishes, I want the longest exposure possible because there are only a few buyers who may collect that particular pattern. So it really depends on what you're selling.
posted on February 10, 2001 08:03:01 AM new
I actually prefer a 3 day auction. That's just what works best for what I'm selling. When I list a 5, 7 or 10 day auction, I notice that I can get a couple hundred hits, but no bids for days. People buying toys or video games seem to want it NOW. They don't like to wait a week, so they just go and buy it from someone else who has an auction ending earlier. But, I do sell common items. If yours is less common, I would think that a 5, 7 or 10 day auction would be best.
posted on February 10, 2001 08:17:45 AM new
Thanks to all for the replies. I tend to sell unusual items that are hard to find (maybe that's why I don't list that many auctions--at least it's a good excuse as to why). I'm going to try a handful of 5 dayers just to see how it goes.
posted on February 10, 2001 08:23:04 AM new
Loosecannon .......... Please let us know how they work out. I sell unusual items as well, and I've always felt that more exposure = higher prices.
posted on February 10, 2001 10:00:06 AM new
5 day auctions they drive me nuts make two or three times the work monthly listing items never seem to be enough time to catch the eye of the buyer for your item have tried them many time end up listing twice to three time to get that persons sale.
7 day auctions a little better results but not great 10 day auction most of the time get the time they need to gain interest and even if it dont sell the frist time on the second time around they usually do if you want to shorten the posible up time of the auctions you can add a buy it now price but in any case your 10 day auctions can cover more of the month giveing you time to produce new listings for launch later in the month or week.
With shipping rates being what they are now I am thinking to incress sales and maybe speed of turn over and volume it would be worth the .40 cent for the ten day listing add a buy price higher so that free shipping for useing the buy it now option can be offered.
