overstockjock
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posted on January 22, 2003 03:00:20 PM new
I have been doing seven day auctions. But I read in the book "The Perfect Store - Inside Ebay" it states that you don't improve your final price on a 7 day auction over a 3 day auction.
is this correct?
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fluffythewondercat
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posted on January 22, 2003 03:08:50 PM new
No.
What world-renowned eBay seller wrote that book?
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sanmar
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posted on January 22, 2003 03:13:48 PM new
Depending the value of an item, I either run 7 day or 10 day auctions. I do not believe you get enough exposure on a 3 or 5 day auction. When I am selling a rare &or expensive piece I run a 10 day starting on Thursday night, this runs it through 2 weekends. Has worked very well for me. I have a train on right now & it has 180 hits & 1 bid. Goes off on Sunday night. I can't believe the gripes about paying 10 cents for a 10 day auction. If you have an auction with a reserve of $350.00, what is a dime?
[ edited by sanmar on Jan 22, 2003 03:14 PM ]
[ edited by sanmar on Jan 22, 2003 11:52 PM ]
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sun818
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posted on January 22, 2003 03:43:28 PM new
His name would be Adam Cohen. Its somewhat irresponsible to make statements like that as your strategies vary based on your product, audience, and category. If there is heavy competition for a mass merchandise item, 7 days will be better as you need the exposure for the higher sell through rate. If you have a unique item in high demand, a fixed price listing set for 3 days may work well for you.
[ edited by sun818 on Jan 22, 2003 03:43 PM ]
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replaymedia
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posted on January 22, 2003 03:45:13 PM new
It depends on the item.
Almost always, for rare collectibles, the longer the time, the more likely you are to get bids.
For commodity items or items in very high demand, it doesn't matter so much. Short auctions are fine with this kind of item.
Take a look at your hit counters. The ones with very high page hits would be good candidates for short auctions. The ones with smaller numbers or fewer bidders probably wouldn't.
Another thing to look at is how many bids your gets. If you are only getting one or two bids in a week, you probably don't want these to go to a shorter term. If you start low and see dozens of bids, then that also might be a good candidate for a short term auction.
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sun818
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posted on January 22, 2003 04:02:52 PM new
Take a look at your hit counters. The ones with very high page hits would be good candidates for short auctions.
replaymedia, have you had success using this method? I've had plenty of listings end with many page hits, but no success. Changing these to 3-day only made me lose more money on listing fees.
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ewora
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posted on January 22, 2003 05:26:04 PM new
You don't have to let a 3 day auction end without bids. You can go into the auction 12 hours before it's scheduled to close and change it to a 5 or 7 day auction without charge. If you change it to a 10 day auction you will be charged an additional ten cents.
This has actually worked well for me and increased my sell through rate by about 25-50%.
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fluffythewondercat
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posted on January 22, 2003 05:50:49 PM new
Okay ewora, I'm puzzled.
If you're willing to change the duration of the auction from 3 day to 7 day anyway, why have a 3 day auction?
You can't depend on getting payment 4 days sooner than you would with a 7 day auction.
What am I missing here?
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tooltimes
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posted on January 22, 2003 05:52:57 PM new
If you're selling something that might get pulled by ebay you might want to try the 3 day duration. 
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fluffythewondercat
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posted on January 22, 2003 05:53:58 PM new
His name would be Adam Cohen.
A senior writer for Time magazine. And, apparently, a self-anointed expert on online auctioning.
I got a giggle out of the chapter you posted the link to. It's obvious Cohen wasn't within 3000 miles of Silicon Valley when the events happened that he described.
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Libra63
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posted on January 22, 2003 06:19:31 PM new
If you do 3 day auctions that isn't enough time for it to get into the data base. Remember when you launch it takes awhile for buyers to find it and I don't think 3 days enough. You at least want a full weekend exposure.
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ewora
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posted on January 22, 2003 06:36:58 PM new
I usually change my 7 day auction to 10 days.
I was just mentioning the 3 and 5 day because that was the original topic
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neatstuffusa
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posted on January 22, 2003 07:30:24 PM new
If I have a fairly unique item I use 5 days, sometimes 7.
If I'm trying to get rid of something where there are several identical items on auction (i.e. collectibles), I'll usually do a 3 day starting on Thursday and ending Sunday night.
If you search the completed auctions and see several of the items you're going to list that sold in a range of $5.00 or so ($25-30) chances are you're not gonna get over that for yours no matter how long you list it.
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