posted on June 29, 2001 08:59:42 AM new
Let's take a look at the ad nauseum relisting of auctions at Bidville which will help explain why the sell-through rate is overstated.
I checked one featured auction that was ending soon and another that was newly listed.
3,434,848 Started 6-19
3,496,482 Started 6-29
So we have a 10 day period with a total of 64,634 new auctions.
That's some 45,000 new auctions per week.
It follows that since Bidville boasts 660,000 auctions then
[(660,000 - 45,000) / 660,000] x 100 = 93%
are relisted auctions from last week.
And that, folks, is why the sell-through rate for the free auction sites is largely overstated.
posted on June 29, 2001 09:26:53 AM new
Except that when you post an auction there, you have many choices as to length of auction. From one day to 30 days. There was even a 14 day option added to coincide with the $1-sale.
Therefore, not all of these auctions are relisting each week, and I think that invalidates aseel through rate on the weekly basis. Exact figures may be difficult to track due to the varieties of listing times and durations. I think a better picture is obtained looking at the two week period of the sale.
Also, while I do not in any way belittle the work and interest you have in mathematics, I think the important thing to remember here is the exposure and growth spurt that Bidville has received from this event. Now that the official sale is ending, I am sure that many who came for the sale will leave. Maybe some of these will visit back, and I am sure some that came will stay.
Therefor, it is all part of a positive growth process. During a saeson when most everyone seems to be reporting slower than usual sales at all sites, it is a very good thing to be able to attract a little growth, and it can only help make the site better.
posted on June 29, 2001 09:42:41 AM new
The one day auctions were done away with a few months ago on Bidville. You can clearly see the ad nauseum relistings if you search for a certain item over and over again such as collectors do. Same listings for months on end. Saw a post on here on AW months ago that called the free auctions 'inventory wharehouses' and that is fairly accurate for the vast majority of items on the free sites.
posted on June 29, 2001 09:47:49 AM new
I'm with jimmhow here.
Playing devil's advocate - dimview, let's assume there are 45,000 new listings and 615,000 relists every week. Now we need to know what percentage of new items sell per week compared to the percentage of old items.
It is possible that 90% of sales come from the new item population and 10% from the old. Why? Because the old stuff is old. It's the stuff nobody looks for or wants.
If this turns out to be true, any new member listing items may experience a much better sell thru than can be calculated using your original formulas. Do you really want to get involved with stratifying this data? Probably not. That's why the numbers mean nothing. They can only be used to compare one site to another.
posted on June 29, 2001 09:59:14 AM new
I really don't want to get bogged down in sell-through rates since they are only estimates.
I do want to recognize that eBay's reported 50% sell-through rate is probably quite accurate since the overwhelming majority of stuff is "new", and that the sell-through rates for the alternative auction sites are overstated because seller's are using them as inventory warehouses with ad nauseum relistings.
posted on June 29, 2001 09:59:33 AM new
Well...umm....I don't see how that fits into this thread but I agree with you. 635,000 nickels a week would make make BV wealthy. Oh, wait...I forgot. Everyone would run to the next freebee that comes along.
posted on June 29, 2001 10:04:57 AM new
Sorry, didn't see the second reply. We're way too fast here.
Dim, do you know if eBay uses a weekly estimate when stating 50% sell thru? I'm sure they do not. If 50% is true, they do not concern themselves with durations. They count each item, whether sold or not, at the end of the auction duration....making eBay's numbers invalid for comparison to other sites.
posted on June 29, 2001 10:15:51 AM new
Here is another one to throw at you that maybe you hadn't thought about....
In my catogory (scrapbook supplies) I relist the same things usually about 10 times. Not because they didn't sell the first time through.... usually they do. (I generally list from 7-10 days with a buy it price that is either the same as the opening bid or only slightly more so that we can combine shipping without waiting for all to close)
I end up relisting them becuase I have 10 of the item.. NOT because it didn't sell the first 10 times.
You were calling bidville a warehouse and maybe that is what I am there... The reason I sell scrapping stuff on the internet as well as in my "real life" store is that there are a LOT of people that don't have access to the items locally.
posted on June 29, 2001 10:18:06 AM new
I'm sure eBay and every other auction site has specific data on the number of auctions, their duration, and those that closed with bids. They can therefore determine an accurate sell-through rate.
We can only make estimates.
Perhaps the "bell curve" looks like this:
1,000 three day auctions.
5,000 five day auctions.
100,000 seven day auctions.
30,000 ten day auctions.
10,000 thirty day auctions.
If we knew that was the distribution, then we would get a weighted average of
1,000 x 3 = 3,000
5,000 x 5 = 15,000
100,000 x 7 = 700,000
30,000 x 10 = 300,000
10,000 x 30 = 300,000
for a weighted average
1,318,000 / 146,000 = 9 days
The error in using 7 days instead of 9 days is around 30%.
So if the sell-through rate is estimated at 3%, it really could be 4%.
I think that's acceptable, particularly since we don't know the distribution and don't want to get bogged down in the numbers more than we have to.
posted on June 29, 2001 10:01:12 PM new
OK, Not to argue, but now I am curious. Dimview, what would you consider a GOOD sell through rate for a site that does not charge listing fees, or fvf's?
posted on June 29, 2001 10:08:00 PM new
ScrappinMemories makes a really good point. I do the same thing if I have duplicate merchandise. If one sells I'll wait a little while (like a week or two) and re-list, but this time it's a different item.
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posted on June 30, 2001 06:10:01 AM newOK, Not to argue, but now I am curious. Dimview, what would you consider a GOOD sell through rate for a site that does not charge listing fees, or fvf's?
I would love to hear that answer!
Also, if BidVille did decide to implement a fee, in the form of a FVF, I am sure most would stay. I would. It is the listing fee that everyone has a hard time with. DUH, that is why Ebay gained 2 million listings on free day!
posted on June 30, 2001 06:23:24 AM new
I'm not supporting Bidville. As a seller I'm disappointed in my results with this site but I do appreciate what they've built and are trying to do.
My point is about warehousing.
Some items are not commonly wanted or needed. I sell videos. I know the value of most. And while 98/100 folks would not pay $5.00 for certain ones I know that 2 would pay say $25.00
I and other sellers need a place to keep items like this as opposed to dumping them.
I think a good site should have a place for warehousing and for high turnover. Perhaps category orginazation would help??
Of course people need to know where to find these items and Bidville is sorely in need of a marketing person and an understanding that they really need to reach the buying public if they want their site to work.
posted on June 30, 2001 06:25:39 AM new
jimhhow and deichen,
OK, Not to argue, but now I am curious. Dimview, what would you consider a GOOD sell through rate for a site that does not charge listing fees, or fvf's?
I would love to hear that answer!
These alternative auction sites should be showing an consistent increase in their sell-through rates, not a static number that indicates zero growth.
Also, if BidVille did decide to implement a fee, in the form of a FVF, I am sure most would stay. I would. It is the listing fee that everyone has a hard time with. DUH, that is why Ebay gained 2 million listings on free day!
I think eBay's listing fees are too steep, and that points to the need for a viable competing auction site.
The idea of only a final value fee comes from the perception that the alternative auction sites are really inventory warehouses, so sellers can store their items there, ad nauseum relist for two years, and then if someone stumbles along and bids, they'll pay the X% commission on the sale.
I don't see how an "inventory warehouse" can evolve into a "viable competing auction site".
posted on June 30, 2001 09:27:54 AM new
Don't ya think we oughta sing the song again in a few days after the $1-SALE ends and we see the final results?
posted on June 30, 2001 09:32:38 AM new
No, Dimview! I really do not. What does it matter? If you like Ebay better, then go sell there. If some like BidVille better, leave it alone. Why are you so negative and upset with these free sites? What do you expect them to do for you for free?
posted on June 30, 2001 09:47:37 AM new
Those "sellers" that view the other auction sites as "inventory warehouses" are certainly not concerned that their items sit week after week, for two years.
These types of "sellers" don't care about any sell-through rate, nor the fact that the little traffic resulting in a piddly sell-through rate precludes that auction site from generating any competition to eBay.
But there are "sellers" that view the sell-through rates, and an increase in those rates, as a measure of an auctionsite's ability to generate traffic.
These types of "sellers" care about the sell-through rate, and the fact that there's little traffic resulting in a piddly sell-through rate because nine out of ten listings are going to be sitting there week after week, for two years.
That leads me to conclude that "inventory warehousers" should simply ignore the threads that discuss sell-through rates; "auction sellers" should follow them.
posted on June 30, 2001 11:01:03 AM new
Right on Dimview! Is somebody forcing them to read the threads they detest?
I do wish at least one of the free auction sites would try something at least somewhat innovative.
posted on June 30, 2001 11:16:18 AM newI do wish at least one of the free auction sites would try something at least somewhat innovative.
Whichever one that is will have to prevent the "inventory warehousers" from flooding their auctionsite with thousands of listings that relist incessantly.
posted on June 30, 2001 11:51:51 AM new
The end of the world must be close at hand. I did not think I would ever agree with bidsbids put today it happened lol. If you dont like a thread dont read it I agree 100%. I use to enjoy the figures before they seemed fair and unbiase. But latley they seem very negative towards the free listing sites (Personal agenda I think JMO) when Epier was the golden boy it was look at this site and the numbers they are great. Then Epier made some changes and they were not the goldenboy anymore "I see their listings are dropping." I just stoped in today for a laugh normal if the thread is by Dimview I go on by and let it die a natural death. To bad at one time they were very interesting.
posted on June 30, 2001 11:58:53 AM newtelwil,
I guess you and bidsbids are correct. I should ignore them as well. I do believe they are biased and serve some personal agenda. Not to mention, BORING now also.
posted on June 30, 2001 11:59:53 AM new
See, what happened the past few days is dimview was going to browse through the postcard categories at these auction sites. One interesting subcategory had 225 listings, started clicking through them and realized I'd already seen 200 of them last week, and the week before that, and even the week before that. Heck, they've been there since I signed up at the auctionsite.
Finally, not wanting to waste time wading through hundreds of listings to find a handful of new listings, dimview said to heck with that, went over to eBay and after about 20 minutes browsing through the same category that was comprised of new listings with perhaps a few relistings, found five postcards to add to my watchlist.
So my question is, what are postcard sellers going to do to get dimview to come back and browse again?
