topic Auction items starting price in Selling

Auction items starting price

clubesquire — Fri, 24 Nov 2017 04:45:31 GMT

I'm sure everyone has their own formula for this. I'd be appreciative of some advice.

We've listed quite a few items well below cost with the idea of encouraging bidding and hoping bids would push us across the line. It has never happened and we've absorbed the losses.

If we play it safer and list just below cost, say $10 - $20 dollars of so, the same thing seems to happen - one bidder and it goes at that price.

If we play it totally safe and list marginally above cost, it certainly seems to discourage bids, but the other issue is the requisite 33% BIN on top of that, which really puts it out of the ballpark.

I guess I answer my own question by acknowledging that we can just list it with a buy price, but generally we've found this unsatisfactory and we've actually removed listings like this.

Is there a rabbit in the hat somewhere? If we could just encourage bidding, that's where we get our best results.

Hard question and perhaps somewhat silly, but if I don't ask, I don't learn. Just trying to get a feel for what others do.

Thanks.

Melina.

Re: Auction items starting price

lyndal1838 — Fri, 24 Nov 2017 05:10:15 GMT

Auctions are not what they used to be Melina.....these days they mostly go with one bid....or maybe 2 or 3 which is unusual now.

Real bidding wars are a thing of the past.

Always start an auction at a price you are happy with if you only get one bid, which is quite common these days.

Re: Auction items starting price

kopenhagen5 — Fri, 24 Nov 2017 05:55:23 GMT

Hi,

As said, list your selling price as often it's one bid these days.

The traffic just isn't here as much as it used to be.

Having said that I think a lot is to do with the glitches in the last 6 months, it's going to take another 6 months to get people back slowly.

Also dropping price doesn't always work, many will attest to more sales when prices were increased. (Cheap price, maybe something is wrong mentality)

BTW, do you know where in Australia I can get Hobbit's Weed (tobacco) ?

Re: Auction items starting price

clubesquire — Fri, 24 Nov 2017 07:00:10 GMT

Sorry Kopes, but not in Australia. Well, not now anyway. There was a supplier in Botany, but they closed about 12 or so months ago. Any sort of tobacco product now is very hard, but I'm sure you know that.

Barry said he can talk you through getting it in from overseas. He doesn't buy any pipe tobacco in Aus.

Let me know if you'd like to do that and I'll message you.

Melina.

Re: Auction items starting price

gutterpunkz05 — Fri, 24 Nov 2017 08:41:03 GMT

I dont include BIN or best offer on auction items, and only start them at a price I am willing to accept. Still get plenty of stupid offers!!

I will often have items listed BIN over 30 days and then run similar items in auctions over short duration. Currently waiting to see if they repeat the Sunday offer before putting some more auctions up. Last week I was able to offset slightly lower auction prices

against low fees, saved over $250 in fees, so was happy enough. Dont sell at a loss just to make a sale, not worth it. and make sure you cover full postage costs not just stamp value.

Re: Auction items starting price

clubesquire — Fri, 24 Nov 2017 08:59:43 GMT

Thanks GP. And help!!! More info please....

How do you list in the auction format and not put a BIN price in? Will it allow you to leave the field blank? It never considered that. Duh!!

I think we'd like to do that, if we can?

Melina.

Re: Auction items starting price

gutterpunkz05 — Fri, 24 Nov 2017 09:20:38 GMT

Yep, just leave BIN blank.

Re: Auction items starting price

clubesquire — Fri, 24 Nov 2017 09:26:19 GMT

Super thanks. Really appreciate that.

Melina.

Re: Auction items starting price

twyngwyn — Fri, 24 Nov 2017 09:58:18 GMT

I list in auction format all the time.....and NEVER have a BIN....horses for courses??