posted on March 17, 2006 10:57:12 AM new
I started an auction for $1.00 last night on an item that typically sells for $90 to $150. I've gotten 14 hits, 3 watchers and one shipping question but no bids. I'm losing my nerve - how long does it take to get a bid???
posted on March 17, 2006 12:28:44 PM new
The worst is yet to come. After you get that first $1.00 bid and then no other bids follow. I had a few $100.00 items sell for under $50.00 before I Started putting the opening price at or near what I want for my items.
posted on March 17, 2006 12:39:17 PM new
In my experience with $1 starting price is if you do not have bids within the first 4 hours, your item(s) will not even come close to what you feel is a fair price. Best to cancel now and relist at a realistic price.
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Many misleading tricks in 2006. The new Demomoron slogan.
posted on March 17, 2006 01:56:52 PM new
I don't know. Many of the items I sell only have low bids for the 7 day duration but in the last 1 minute I usually have snipers coming out of the woodwork. Had a couple of auctions like that last night. Some with very low bids up until the last 1-2 minutes and then all hell broke loose with bidding war's. God bless the snipers
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
Send me the auction number if you want (my email is public) and I'll try to guess. All auction trajectories are different. I generally don't pull an auction unless the hit count is really low, in which case I must have misjudged the market, or blown the title.
Sometimes it takes nerves of steel, other times it's nice and cozy. I assume this is a 7 day auction?
If I see the item, I'll try to figure out the market for you, and will give an honest response as to whether I would pull that little cord that lets out the parachute.
Stone, I've done around 5,000 $1/NR auctions and have not seen what you describe. Do you have a larger sample size, or is there something about the items you did it at that would lead you to that conclusion? My stuff is all over the map, so it is difficult for me to generalize.
Toolhound, that will happen sometimes, but I've had lots of $100 items sell for $200 this way Blame it on the hormones.
posted on March 18, 2006 03:04:08 AM new
I chickened out and up the price. I gave it something like 14 hours. Cash, I'll email you next week and you can tell me if I did the right thing or not. If it does sell, I can always try the $1/NR again.
posted on March 18, 2006 04:05:54 AM new
I'll be happy to take a look, but I think that right thing or wrong, you probably did it too soon. Right or wrong is relative anyway, and for many of my consignors, I use elevated prices because the experience is supposed to be either innocuous or fun, not nerve-wracking. A little tension, like a scary movie, is fine but it shouldn't be too much.
I get uptight about some auctions, but if it's too intense, I adjust.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein