Auction Timing on eBay
Let us suppose that you have a product that has only come up for auction a few times in the history of on-line auctions.
Let us further suppose that there is a marketplace filled with no fewer than 1000 active, willing and desirous potential buyers who have waited for the opportunity to participate in the next "mosh pit" of supply and demand frenzy that will result when your fabulous item is listed for sale.
You are certain to be well on your path to on-line fame and fortune.
You are also certain that the final selling price of your perfect item will match, or even succeed, all of the prior eBay auctions.
Not so fast my little auction cherub.
All too often a seller will identify the item he is selling, compare it with items that have sold recently on eBay and are now considered completed sales items, and even go so far as to prepare a beautiful presentation, which includes a well thought out description, perfect pictures and flashy HTML widgets, followed by what the seller supposes to be a slam dunk auction listing, only to wait and watch as a full seven day auction period rushes by leaving the "sure thing" item still on the auction block or selling dismally for just above the reserve price.
Why does this happen? The "other guys" are making huge profits on rare items such as mine.
What is so different? Many eBayers fail to take a careful yet critical step during the research process and discover that many items are seasonal in their marketability.
Their seasonal nature might be extremely subtle, but a slight subtlety is all it takes to influence the outcome of an otherwise routine and successfully sold auction listing.
Unfortunately, in many cases a mistake like this can cause the sale of the item to either fail or fall far short of the seller's expectations.
Pay careful attention to the many types of seasonal influences that exist.
Examples are the schedules of school semesters, vacation and travel peak times, holidays, celebrations, and those times when people prepare for them, sport seasons, and many, many other factors involving and influencing the timing of a prospective sale.
When you consider listing an item ask yourself a question - will the individuals in my target market be sitting in front of the computer when my auction ends? For example, if you sold sporting goods would you want your auctions to end on the day of the Super Bowl? eBay sellers should also pay special attention to the end times of their auctions.
It really doesn't make much sense to end an auction for an average home embroidery machine at 3 a.
m.
on a Tuesday morning.
It stands to reason that the better part of your potential market will be much more likely to actively participate in the final moments of an auction that ends between 3 p.
m.
and 7 p.
m.
on a Sunday.
This can send the final price of your selling item up through the stratosphere as the bidders work themselves into the all too common eBay auction frenzy.
Let us further suppose that there is a marketplace filled with no fewer than 1000 active, willing and desirous potential buyers who have waited for the opportunity to participate in the next "mosh pit" of supply and demand frenzy that will result when your fabulous item is listed for sale.
You are certain to be well on your path to on-line fame and fortune.
You are also certain that the final selling price of your perfect item will match, or even succeed, all of the prior eBay auctions.
Not so fast my little auction cherub.
All too often a seller will identify the item he is selling, compare it with items that have sold recently on eBay and are now considered completed sales items, and even go so far as to prepare a beautiful presentation, which includes a well thought out description, perfect pictures and flashy HTML widgets, followed by what the seller supposes to be a slam dunk auction listing, only to wait and watch as a full seven day auction period rushes by leaving the "sure thing" item still on the auction block or selling dismally for just above the reserve price.
Why does this happen? The "other guys" are making huge profits on rare items such as mine.
What is so different? Many eBayers fail to take a careful yet critical step during the research process and discover that many items are seasonal in their marketability.
Their seasonal nature might be extremely subtle, but a slight subtlety is all it takes to influence the outcome of an otherwise routine and successfully sold auction listing.
Unfortunately, in many cases a mistake like this can cause the sale of the item to either fail or fall far short of the seller's expectations.
Pay careful attention to the many types of seasonal influences that exist.
Examples are the schedules of school semesters, vacation and travel peak times, holidays, celebrations, and those times when people prepare for them, sport seasons, and many, many other factors involving and influencing the timing of a prospective sale.
When you consider listing an item ask yourself a question - will the individuals in my target market be sitting in front of the computer when my auction ends? For example, if you sold sporting goods would you want your auctions to end on the day of the Super Bowl? eBay sellers should also pay special attention to the end times of their auctions.
It really doesn't make much sense to end an auction for an average home embroidery machine at 3 a.
m.
on a Tuesday morning.
It stands to reason that the better part of your potential market will be much more likely to actively participate in the final moments of an auction that ends between 3 p.
m.
and 7 p.
m.
on a Sunday.
This can send the final price of your selling item up through the stratosphere as the bidders work themselves into the all too common eBay auction frenzy.