posted on March 12, 2006 10:50:50 AM
I started a 5 day auction last night and I already have 11 watchers.
I started the item at $49.99 hoping for $75 to $100.
As this is getting more attention than I originally thought it would - if you were the seller would you....
A. Lower the price today to get bidding started? If so - how low?
B. Rise the price in view of poor sales on auctions lately and hope for one bid.
C. Extend the auction to 7 or 10 days.
D. Do nothing as everyone is just bored or have the same item (which I seriously doubt) I have and want to see how well I do.
posted on March 12, 2006 01:29:46 PM
Now days on eBay if I want $75.00 I start the item at $75.00 Hoping for bidders will cost you money. In your case I would not change the length of the auction because these watchers might be snipe bidders. If you do not want to chance selling it for $49.99 then raise the opening bid price.
posted on March 12, 2006 02:16:51 PM
I often "watch" an item when I think it is unrealistically priced, hoping I can make an offer after it ends with no bids.
I can't comment on your particular situation until I go look at the auction.
posted on March 12, 2006 02:27:37 PM
I frequently get lots of watchers on the first day of the auction and really don't expect bidders until later on. I'd leave it alone, if you're sure your opening bid is realistic. And maybe extend the auction if no bids the day before it ends.
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posted on March 12, 2006 03:56:02 PM
Well it's up to 16 now. I think I'll let it run until in the morning and if I don't have a bid by then, I may pull it and run it like Cash said - start at $1 and do a full 7 day. I don't know when I've had this many watchers the first 12 to 18 hours in years. I've only had 45 hits so 1/3 of all hits are watching it.
Wouldn't it be great if there was a sniping reporting service - like 5 snipes bids were registered out of my 45 hits. Now that's something I would pay extra for!!!!
posted on March 12, 2006 04:05:08 PM
From what I have read about Watchers here lately it does not appear that this feature is a good guide to judge how an auction will perform. My guess is many Watchers are sellers not buyers.
I used them a couple of years ago and at that time were able to track some "snipes", as long as they weren't using a sniping program on their computer.
They generate a code which you can add to the description for one or all of your auctions.
They used to offer a free trial. Don't know if they still do or not, but it might be worth checking into.
posted on March 12, 2006 06:07:00 PM
glassgrl, I most absolutely did NOT mean it tongue in cheek.
Let me give you an example from a couple of weeks ago. I get a Louis Vuitton bag, very good or better condition, expect to get $250 or more. Consignor insists on starting it no lower than $99. Okay, she's sort of the boss, so I do so. Sits for 7 days like a stone; some watchers, nothing happening. Ends unsold.
I tell the consignor that I'm willing to relist it, but only if I do it the way that I have found works best for LV: $1/NR. I do so for 7 days, sells for $370.
Not to torture a pun, but maybe you meant tongue in CHECK.
The REAL danger here was the $99 listing, as that could have been sniped at the end, and the owner would not have been that happy with $99. The SAFE way to do this is at $1, as long as you make sure that if there are few views by day 4 or so, you figure out what you mis-spelled or screwed up in the listing, and then re-list it (at $1/NR).
Claude
edited to add: Sometimes I'll start at $9.99, which is essentially the same as $1 for high value items, but I sometimes want to place it differently in the sort order of searches.
[ edited by cashinyourcloset on Mar 12, 2006 06:11 PM ]
posted on March 12, 2006 06:16:26 PM
I only have 15 auctions going right now, but they all began at $1 or $9.99. They're up to $560 or so, but most of them have many days to go.
I sometimes wonder why I keep pointing this out, but I guess I regard people on this forum as colleagues more than "the competition."
posted on March 12, 2006 06:16:52 PM
TnErnie - Thought I would check out that "sellathon" service.
They offer a 30 day free trial. I tried to sign up for the free trial offer and it said I was already registered. It even said it was registered under my email. Well that's just downright strange. So I did a forgot password login and it sure enough sent me my password to my email. So I go into the account and check and it said I registered on Feb 18 2006. Well unless I was having a absent minded day on the 18th, I sure in the hell didn't register for this. Very, very strange. I set up a account and didn't even know I did it. Really has me wondering what's up with that? Have I been signing up for thing's in my sleep? Maybe my Iguana ran across the keyboard and just by chance got my email address and ebay user ID correct and signed me up and forgot to tell me This really has me doing some serious head scratching here. Makes me wonder, what else have I done lately that I don't remember. Hey!!! Where did that huge pile of money on the floor come from in the bank bags, ohhhh, sigh, now I'm dreaming. Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
: What is the meaning of the phrase "keep tongue in cheek"?
To say something tongue-in-cheek means to say it in a deadpan joking way: you don't intend your words to be taken at face value. Sometimes confused, in print, with "keeping one's tongue in check"--refraining (with some effort) from speaking out.
Tongue-in-cheek
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The term tongue-in-cheek refers to a style of humour in which things are said only half seriously, or in a subtly mocking way. To say something in a tongue-in-cheek way is to speak with irony.
posted on March 12, 2006 06:22:56 PM
Claude: This is an interesting discussion! I would have argued with your approach before I began selling all the guy-stuff, gadgets, electronics, games, knives, binoculars, telescopes, short-wave radios, etc. etc. for the British gent I've mentioned here. He said to start everything at 1 cent and I balked. He said trust me. So I did. The items did fabulously well!
It must depend a lot on how confident you are that your item will be wanted by more than one person. With books, I wouldn't dare start them at 1 cent, and the same with some of the more common collectibles and things like vintage matchbooks. If I ever have to sell guy-stuff again, LOL, gosh forbid, I'll start it at 1 cent.
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I know what you meant and what the term means, and I meant to make it very clear that I was very serious, and not kidding. The tongue in CHECK was a pun to indicate that I know I had a much larger check due to listing it at $1/NR. I wasn't suggesting that you had mis-used the phrase, just that I was going to play with it.
I began elementary school in Argentina, continued in New Jersey, left high school early because I couldn't stand it, and went to undergraduate and graduate school in Washington, DC. Anything missing in my education I blame on New Jersey
As regards phrases, I didn't begin to speak English until my family moved to the US, when I was 7. Having said that, 7 is early enough that usually only well-trained linguists can detect that English isn't my first language.
It's not just guy-stuff. It's all a matter of how liquid (an economist's term) the market is for the item category. I wouldn't dream of listing furniture on eBay for $1 (well, maybe some vintage Kagan, but not generally). Louis Vuitton = $1.
Tonight I started 2 Kentucky Derby glasses at $1. We'll see if I judged that market correctly, as it's my first time there.
Claude
PS for some reason, even though it costs a few cents more, I don't list at $0.99 or $0.01. It's irrational, but I think $1 "sounds" better
posted on March 12, 2006 07:44:06 PMMaybe my Iguana ran across the keyboard and just by chance got my email address and ebay user ID correct and signed me up and forgot to tell me
Hey, you've got to watch those Iguanas!
The people at sellathon are really nice (or at least they used to be). You might try emailing them and explaining the Iguana did it and you never got to try it out. Who knows, they might give you another chance.
I decided to re-sign up tonight to check out the new version. Now I remember one of the big downfalls to this program...I spend too much time looking at it and crunching numbers! LOL
posted on March 13, 2006 12:23:23 AM
This is a question that always fascinates me.
I sell rather high end items( antiques and art work) and have never had the courage to start an item that 'needs' to bring me at least $75 or much more at just $9.99! And while I do use a 'reserve' on some of these items, the fees from eBay are killing me.
Yet, as a seller I have noted that some who have much more expensive items ( but an obvious monied and repeat customer) do this all the time.
And thier sales are great!! They also list for 10 days and on the first day they have 6 or 7 serious bids!!
Now I have gently tried this NR in some of my under $50 offerrings...and actually have done quite well. But I think using BIN on these items works best for me ( with my repeat customers).
It takes a long period of time to build a following in the Antiques area ( pottery & porcelain) because there are sooo many auctions on all the time, and so much to choose from.
As for the handbag story... of course you can start it at 0 and the ladies will fight for it all the way up!! That is known as having an item that is IN DEMAND!!
posted on March 13, 2006 03:55:31 AMAs for the handbag story... of course you can start it at 0 and the ladies will fight for it all the way up!! That is known as having an item that is IN DEMAND!!
Fair enough, but why did none of the people willing to bid it up to $370 the followig week (identical listing) make a bid during the week it was listed at $99?
[edited to add] And the market for your items might not be sufficiently liquid, in which case you would be giving them away. It is not a one-size-fits-all approach.
[ edited by cashinyourcloset on Mar 13, 2006 03:57 AM ]
posted on March 13, 2006 05:08:09 AM
Lady, Definitely leave the auction alone. If you have that many watchers off the bat then you know you have something the buyers are looking for. Usually items with high demand will also have snipers. Changing the auction at this point will PO your snipers and they may not come back to bid. Let it Ride!
Mike, did you recently open an account with a certain FREE (to remain un-named in respect to Vendio) auction tools site? If so they auctomatically set you up with SellaThon counters and your 30 day "free" trial begins.
posted on March 13, 2006 08:04:42 AM
I guess I will just leave it alone.
Watchers keep going up so I will wait and see.
I do know Cash is correct about his listing $1/nr theory (glad you added except furniture - that would give me nightmares).
I'm not brave enough to do it most of the time - I guess I remember the old days when ebay would crash a few times a week.
Once I did have the nerve - I had a wonderful crystal lamp that I listed with a reserve of $600 - bidding got to $450 but no one would take my second chance. So I relisted it for $500/NR - no bids. I relisted it at $24.95 and it ended up at $611.00
posted on March 13, 2006 08:37:23 AM
Lady, the extra $161 from the lamp is where the courage comes from
If you do that all the time, it will more than pay for the times when you get stuffed (and it doesn't happen that often).
It should be easier for you than for me. I have to explain it to consignors, and get them to buy into it. Many do, some don't, but all of them take time to convince.
Claude
PS Good luck with the auction; let us know how it turns out.
posted on March 13, 2006 01:33:07 PM
Well I got a bid so what's done is done. I think I'll be happy either way but thanks for the advice.
Cash - I think I will try the dollar thing with some upscale items and I'll let you know how it goes.
posted on March 13, 2006 03:54:48 PM
Ladyjewels let us know if you get what you were hoping to get. Would be interesting to know outcome.
**************
Without my ignorance, your Knowledge would be meaningless.
posted on March 13, 2006 09:30:25 PM
I am fascinated by the auctions starting at $.01 and $.99 and the success some people have had with them. It appears it works very well in some categories and lousy in others. Many postcards appeal to only one or two buyers who are willing to pay $10 (or more) for them. Novice postcard sellers list them at $.99, often with Gallery and combined shipping, and hope for the best. Great cards may sell for $100+ using this technique (or any other technique) but most of their cards sell for $.99. God bless them, I often buy $10 cards this way, but compulsion to shake them and say 'WHAT WERE YOU THINKING!' is overwhelming!
posted on March 13, 2006 09:38:33 PM
Pixi: Tonight I sold a Rubik's Cube for $112.00, started at 1 cent. I still say, though, that it depends hugely on what you're selling.
How are you and Neglus doing, now that the weekend is over? Thinking about you both. ~Adele
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My latest favorite feedback: This Lady is an asset to eBay. A REAL Gem. I think I'm in Love... [Sorry, fella; I’m taken!]
posted on March 13, 2006 09:47:20 PM
LtRay - Mike, did you recently open an account with a certain FREE (to remain un-named in respect to Vendio) auction tools site? If so they auctomatically set you up with SellaThon counters and your 30 day "free" trial begins. Yup, that must have been what happened. I did sign up for "un-named" service to check it out, didn't like it and am sticking with Vendio. They must have signed me up and I didn't even know it. Well, I feel better now that I know I'm not signing up for thing's in my sleep
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
This really has me doing some serious head scratching here. Makes me wonder, what else have I done lately that I don't remember. Hey!!! Where did that huge pile of money on the floor come from in the bank bags, ohhhh, sigh, now I'm dreaming.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
