Still "feeling" like a new seller after 6 mos ( ok - I'm a serious "youngin" ~ but only in this business~! ) I thought I'd ask how many of you take the incredible amount of time ( hrs per day? ) to "look in" on your competition at eBay and change based on what you see? Or do you have any other particularly pinpointed methods to build business there? Anyone attend the eBay conference just held and was it worth it?
If you aren't doing it yet, use eBay's advanced search to see the same/similar items like yours actually SOLD by your competitors. Use eBay Advanced Search for Completed Item only. Ignore anything with no bids.
Using your competitor's active listings is not necessarily a good guide. Search in the completed items for the type or specific stuff you want to offer. Look at what was successfully sold, what was the best ending price - ending on what day of the week at what time, did the seller offer "Buy it Now", were the listings started with reserves, what did the high bidders bid on around the same time (may tell you who your target audience is).
Observe the difference between sold listings that ended high or low. Try to determine by observation - was it the day and time it closed, was the highest dollar one a more detailed, friendly listing, what? You can't always tell, but worth a look. The listings only go back so many days (30?), and the market changes during the seasons.
This is a method of surveying what the actual market is for your items, whether it is worth TRYING to sell a particular type of item, and who the buyers are.
There is other research, but this is the most basic. No, don't spend hours every day once you have your groove. But there is a proportionately greater amount of time needed doing this until one learns the ropes.
Reading these boards is a very valuable activity.
P.S. I have found the buying frenzy for Christmas starts in November. At least by Thanksgiving, maybe earlier. People get in a spending mood and not only buy gifts, but treat themselves to things they have been wanting.
posted on July 14, 2004 08:10:39 AM
Hey Patty! I have a few Christmas things I am tired of moving around...lol. So on a lark, I thought to self hey let me go look at Christmas items and see what they are doing in the summer. (Why is it the networks always seem to run the christmas movies in summer? - Cheaper?)
Anyways, I noticed some bidding going on that I did not really expect to see. Do you think people think there are sales on Christmas stuff in summer just like in retail markets?? Or is it just such a specific collectors market those people are always looking out for such things?
posted on July 14, 2004 08:18:17 AMI thought I'd ask how many of you take the incredible amount of time ( hrs per day? ) to "look in" on your competition at eBay and change based on what you see?
It shouldn't take hours. I do it late at night when I'm too tired to do anything else.
But you seem to be assuming that the competition is necessarily more knowledgeable or more successful, which may not be the case at all. It is useful to see what they're doing so that you can learn from their mistakes.
It can be far more useful to get away from eBay and open up to new ideas that at first glance might not seem to have much to do with eBay selling. Take a walk through your local mall and challenge yourself to come up with three new ideas about eBay selling based on what you see.
It can be a lot to take in. Pick one thing, one area or concern at a time and just get a better understanding of that thing, then move on to something else. Cycle back through the various areas you are learning as time goes on. Don't try to earn a "masters degree" in one area at a time. Just work on one thing for a few hours, days or weeks, get to a point of some accomplishment, then move on to the next area.
While you do that, continue to list items. Balance your learning time and your listing time. Keep your eyes and ears open for anything related you can learn, but don't try to learn selling everything that is offered on eBay.
Research closed sales and match your knowledge and expertise from life with what you will learn to sell. I love to shop and started my eBay selling by going to most every Office Depot in town on the days they added items to their closeout tables at deep discounts. The items fell in price (like half off, again and again) every week they are on the tables, but they don't change the marked price.
My best buy at OD was an impulse sealer I bought for $.06, yes, six cents. Six months later, I had stiff competition at the tables and changed my business to something else. Many people find a niche and stay there.
~ but only in this business~! ) I thought I'd ask how many of you take the incredible amount of time ( hrs per day? ) to "look in" on your competition at eBay and change based on what you see? Or do you have any other particularly pinpointed methods to build business there? Anyone attend the eBay conference just held and was it worth it?