posted on September 19, 2001 07:02:00 AM
So, with this new climate - including disasters, economic collapse, forced charity auctions, and etc... I feel that it's necessary to develop a new strategy for online auctions. Here are a few thoughts.
I haven't sold on Yahoo auctions for months. A few auctions in May-June, and that's about it this year. Last night, I was browsing the closed auctions on Yahoo for one of my hottest selling items. Several sellers had been actively selling this item, and the auctions were closing in the same range that my ebay auctions have been.
Solution #1: Begin selling on Yahoo auctions again immediately. I listed one item last night, and it's already got more hits than several of the ebay auctions that have been going for several days. Has a few bids too. Looks good so far.
The Auctions for America seems like a real no-win situation for the sellers. Consider; If I participate I am donating my time, my items, and my money for postage to further ebay's glory. If I do not participate, I risk being ostracized by the bidders. IOW, the ebay seller can choose from donating in ebay's name or appearing to be a heartless ogre.
Furthermore, as many have mentioned, running regular auctions on ebay right now will place you in the position of competing with the charity auctions. Let's face it, bidders are going to bid on the charity auction before they bid on your normal auctions, which can only mean that profits are down.
Solution #2: Reduce ebay activity significantly. The slack can be filled by the answer in solution one, hopefully. In the short term, I plan to run an equal number of auctions on Yahoo and ebay. If it works out, I can move more to Yahoo and less to ebay.
Solution #3: To not appear to be a heartless ogre to my ebay customers I will run some charity auctions. I have already donated directly to the Red Cross, and urge everyone to do so, http://www.redcross.org BUT, I don't want to face the ostracization of not participating in the Auctions for America. So, I am putting up some auctions. These will be items that are slow sellers, some which I haven't sold for months. I can clear out some stale inventory, look good in the eyes of the ebay bidders, and contribute to the fund.
I can't personally do much about the economy. My personal feeling was that the economy was teetering on the edge before last week. Now, there is even more uncertainty. Many of the auctions I had running that ended in the several days after the disaster were real duds. If I had an auction for a hundred dollar bill, I would have only got seventy-five for it!
Solution #4: Keep my day job.
Any comments? How does everyone else plan to cope?
posted on September 19, 2001 07:19:40 AM
I already started a new strategy before all this. I sell books, videos, paper, and unusual or collectible items.
While I still list books on eBay, I'm not giving the stupid things away, so rather than relist, most of the time they end up at another site. Also, I put tons of books there without ever putting them on eBay.
I also switched from a consignment shop to paying rent at a b&m, and during this first month (19 days actually) I'm very happy with the results. I did this in response to ever increasing shipping fees by all carriers.
I'm pondering an eBay store, but it won't be for at least another month.
Based on another thread this morning, it looks like most AFA items are things sellers couldn't sell before. I don't think this will affect my sales, and I'm not going to participate in AFA, primarily because I don't want to sign up for Billpoint.
I don't have a day job, but my partner has been working more outside the home than before.
Your idea for diversification is good on many levels. All eggs in one basket isn't good. Also, if one does this to avoid the 9-5 thing complete with 'boss,' and then lets eBay dictate everything to them, one effectively has a boss again.
I'm not anti-eBay, but, my other two venues are growing quickly and with much less work.
