Guest Author - Kim O´Shea
To get the best price for your items, timing is very important. There are different factors where the correct timing is critical to success. These factors include, starting your auction, length of auction, ending your auction, time of year, recent events and supply and demand.
Starting your auction. The best time to start your auction depends on the item you want to sell. Think carefully about the item. To whom would it appeal most? Then think about the time these potential bidders may be free to log on to the auction site. Housewives and older people often log on during the day, working men and women usually log on in the evenings after work and young, single, unemployed people often log on at night. These are only rough guidelines but they will give you a starting point.
Length of auction. How long should your auction run? This depends on the item for example, if you are selling something with a specific start date like concert tickets, then the auction must allow time for the tickets to be delivered to the winning bidder. For most items the 10 day auction gives potential bidders time to find your item, ask any relevant questions and make the decision to place a bid. For multiple buy it now items pick the longest time so that your items have the best possible chance of selling.
Ending your auction. Most people use the proxy bid system but some still like to wait until the last minute before placing their bid so that they will not get involved in a bidding war. For this reason it is best to time your auction to end at a time convenient to your potential bidders as mentioned above in starting your auction. This helps to ensure that the people who might be interested in your item are online at the right time and may be persuaded to place an impulse bid.
Time of year. You will probably find it easier to sell those Santa candles in the run up to Christmas rather than trying to shift them in the New Year. Keep things like the seasons and public holidays in mind so that you can capitalize on your items and don’t leave it to the last minute to list your goods. Allow plenty of time for delivery so that the items arrive before the season changes or before the kids go back to school.
Recent events. Keep an eye on the news as you may find that your unwanted item suddenly becomes hot. A sporting victory, an unexpected death or anything else which focuses attention on a particular story can enhance the value of a related item. Even things like posters and key rings can greatly increase in value at the right time.
Supply and demand. If it’s rare or hard to find then your item may be worth more than you expect. Things like manufacturing flaws, short production runs and changes in color are just some of the things to watch out for. Check online auction sites for similar items and if currently listed wait until the item has sold before you list yours. This works particularly well if several bidders have been interested in the previous item as they may decide to bid on yours. This reduces the risk of lowering the bidding if there are two identical items for sale at the same time.
For great results make sure you make the most of your timing.