E-bay Part Two ~ The Seller
Before selling on E-bay the dealer needs to do their research very carefully, by looking at previous prices attained by the object and how many of the item is on the auction site at any one time, s/he gets a feel for the market place.
This is important because without carful reference to certain facts one can easily become disappointed with the price achieved, when we form a realistic pre knowledge of what final price can be expected, our choice to sell or not is decided by intelligence not through the emotions.
You can look at pages of information as to bidding history and timings on the site itself, and this reenforces the openness of E-bay, the auction wants you to get the best prices, so it can earn the greatest commission, it is two way traffic though do not forget this.
Timing is essential, the end of the auction is best on a Sunday evening when most people are at home, the early evening is best.
There are exceptions. There is no point trying to sell an item which may appeal to the 18-24 year olds on a Friday or Saturday night, as the potential buyers will more than likely be out enjoying themselves, and a Sunday is of no use because they will have spent their money, so a Thursday is the best time for this type of auction aimed at 18-24, and as a second choice for the end of any auction.
I use the example of the iPhone as it is a fairly high value, popular commodity, and with two or three years use, it is very desirable item which is often bought by the astute young buyer and the sensible mature buyer alike. Thursday is the day of boredom and the weekend money is not yet spent! Thursday often achieves some of the highest prices due to a larger amount of people bidding. The young and the old!
Once you have thought about these points, there needs to be a decision made as to the type of auction.
1.Straight auction.
2.Straight auction with reserve.
3.Fixed price.
Hey! Its an auction..for me its auction every time, sometimes I do not get much mostly I am very pleased with what I receive. Very rarely I will put in a reserve price and usually it when I am not too worried if it sells or not.
Fixed price is best for the buyer, I have found the most incredible deals on fixed price. Normally because the vendor is either in need of the money very quickly or they cannot mentally take the risk as a private seller. I often do buy buy it now from E-bay shops and never have had any problems from them. You may find the odd rogue, however it is very rare these days.
Listings must be accurate and truthful, you will still sell the item and you will get some real problems later if you are not listing clearly. And be very accurate with your postage and delivery times. Personally I will never send an item unless it is recorded delivery signed for, and I always give at least five days as my dispatch time. I never vary and I never get any problems.
I never list anything under ten pounds, anything lower could go to charity, garage sale or gumtree, for items of less than ten there aways seems to me to be too much effort for little reward.
What have we learnt from the second look at the life tool called E-bay?
Learning is the first stage of any success.
Timing is an essential part of the process.
Patience is the precursor to success.
We are not all the same.
Sometimes we benefit from taking chances.
Being stubborn often reveals weakness.
Being truthful even though we may feel we are disadvantaging ourselves is the best policy in the long term
Make certain all those around you understand the full cost of real commitment
Never work for no realistic reward.
The Heart of the Mind 