posted on March 23, 2006 08:18:56 PM
After the discussions last week on $1 NR auctions, I tried an experiment on some returned (but new in bag) merchandise that's been crowding up my office. The results are in and never again will I take the gamble. I don't know if it's my listing format or ending day of the 10 cent fixed price listings or what but ...
A $300 retail comforter set sold for $36 (my cost in the set $150 - OUCH!!)
A $200 retail comforter set sold for $10.50 (my cost in the set $99 - OUCH again!!)
All other items with equally disappointing closes.
Seven out of 10 items had multiple bids early - hoped for some sniping, and there was, but no one wanted to bid the big bucks. Of course, I knew I wouldn't get anywhere near retail, but I had hoped to recover most of my wholesale costs. I think this is the first time I've prayed for NPBs.
posted on March 23, 2006 11:52:23 PM
Ouch Fleecies! I don't think that strategy works across the board - especially on a listing sale day when there is so much on the market.
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posted on March 24, 2006 12:11:47 AM
Your best bet probably would be to sell them in a ebay store with all the additional search coverage store items are getting now. I have had a bunch of store items that have been in my ebay store for quite some time sell within the last month due to the new search results format. Store sales are through the roof.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein
I think that all of the discussions (at least on my part) included the need for a market assessment before doing it. There a reasons why I don't do $1/NR on all of my auctions... and you discovered one of them. How many fungible (i.e., identical or equivalent) comforters are listed on eBay? Thousands, and nobody will bid-em-up past a relatively low level. A new comforter is just not a gently-carried Louis Vuitton.
I generally don't even accept comforters on consignment, much less list them at $1. If I did list them, it would be in a store (as Mike suggests), and I'd pay the 3 cents for however much time it took, finally accepting any semi-reasonable offer.
There are no panaceas on eBay; you have to do the research. I'm sorry for your bad results.
posted on March 24, 2006 07:19:55 AM
Ouch is right. Sorry for your bad results. I lost my nerve on my $1/NR item for several reasons.
I'm going to try $1/NR again on some items but I'll wait until the market is better.
Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein