Switch to 99 Cent Auctions

[randazzo1]

Hey all - We wrapped up the 60 .99 cent auctions. Interesting results. The overall take was right where we hoped it to be. What's shocking is that some of the items we expected to sell for $50.00 plus dollars only went for $10.00 whereas items we thought might not sell for $.99 cents ended up bringing $25+. Here's what I learned: 1) Non-scrap precious metals are a crap shoot. We listed a pair of 10K gold and pearl earrings that would have brought $50.00 retail and probably $35.00 as a buy it now on ebay -- they sold for $16.00. We also listed a pearl and 14K gold necklace with 14K gold beads that would have scrapped for $32.00, retailed for over $100.00 and buy it now for about $60.00 -- It sold for a tragic $11.00!! 2) Artistic Hi-res photos sell items 3) Lots of items will sell to a small group of buyers (of our 60 items 29 sold to the same 5 buyers) 4) the global shipping program blows (we had to revise 5 listings so that international bidders could buy them without paying the exhorbitant shipping fees 5) most bidding activity happens on the last day (along with most questions from buyers -- especially in the last few hours. 6) Buyers assumed you won't combine shipping unless its stated in the listing (we did not state it in the listing and got 20 questions asking "do you combine shipping?"

Started another round of .99 cent auctions on sunday night. This time -- no karat gold, no global shipping and much better pictures for every item. We also broke out some of our primo stock.

 

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[Ursus]

Thank you for that update! I look forward to next week's.

 

[Iron Patch]

Hey all - We wrapped up the 60 .99 cent auctions. Interesting results. The overall take was right where we hoped it to be. What's shocking is that some of the items we expected to sell for $50.00 plus dollars only went for $10.00 whereas items we thought might not sell for $.99 cents ended up bringing $25+. Here's what I learned: 1) Non-scrap precious metals are a crap shoot. We listed a pair of 10K gold and pearl earrings that would have brought $50.00 retail and probably $35.00 as a buy it now on ebay -- they sold for $16.00. We also listed a pearl and 14K gold necklace with 14K gold beads that would have scrapped for $32.00, retailed for over $100.00 and buy it now for about $60.00 -- It sold for a tragic $11.00!! 2) Artistic Hi-res photos sell items 3) Lots of items will sell to a small group of buyers (of our 60 items 29 sold to the same 5 buyers) 4) the global shipping program blows (we had to revise 5 listings so that international bidders could buy them without paying the exhorbitant shipping fees 5) most bidding activity happens on the last day (along with most questions from buyers -- especially in the last few hours. 6) Buyers assumed you won't combine shipping unless its stated in the listing (we did not state it in the listing and got 20 questions asking "do you combine shipping?"

Started another round of .99 cent auctions on sunday night. This time -- no karat gold, no global shipping and much better pictures for every item. We also broke out some of our primo stock.

What can be frustrating is that you don't tend to learn anything from that, because it can be so different next time around. I can't even guess how many times I have accessed things the way you just did, created a game plan, and then the next week had me completely scathing my head. I eventually figured out the best strategy is that if I was happy with the sale as a whole, just up the volume and keep doing it. The better and worse than expected prices tend to balance out, so as long as your final numbers work that's all that count. When I run a lot through I use to follow everything fairly closely, but now just look at my final number and see how it compares to what I expected. I don't have to crunch the numbers much because I have enough experience that I basically know by feel how the night went. I often compare it to a bar, most nights are very busy, but the odd one people stop by but not enough stay to make it busy.

If you read an ealier message about glabal shipping you'd see I said exactly what you just found out... it kills International sales!

 

[northwoods]

I have sold thousands of items starting at 99 cents over the years to try to save on eBay's rediculously high listing fees. For items that have been through the process and have a history of ending in a price slot, you can almost always list for 99 and come out fine. You have to watch out for rare items that don't get a large volume of bidders. Those can either end up way lower than you thought, or sometimes even higher - it's a crapshoot.

For coins and jewelry, I would guess that you will end up getting at least the average Completed Listing bid price, even if you list at 99. As long as you end your auction late afternoon, early evening when most people are on eBay. I also like Sunday 6-9 PM EST, so your auction ends shortly after the weekend. Also, if you have good photos and can write up a good description selling your item, you will consistently make more money than other lazy sellers, regardless of whether you start at 99, or a higher start price.

PS - I do what I can now to stay away from eBay. It's a pain to make listings, and Paypal sucks. I'm even listing vintage stuff on Etsy now, and selling stuff on there that I listed on eBay 3x or more with no bids. Yay Amazon and Etsy. Boo.. eBay.

 

[diggummup]

I really need to give Etsy a try. I signed up years ago and still haven't.

 

[randazzo1]

I really need to give Etsy a try. I signed up years ago and still haven't.

I've only used it a few times to sell myself (to sell antique ivory pieces that are banned on ebay). The experience was very good.

I also buy items on Etsy every week for re-sale on ebay. I don't know if its the keyword search or what, but I'll usually find 2-3 things a week that I can double my money on by re-selling them on ebay (even with the shipping). Etsy sellers are less greedy!

Another thing i noticed is that Etsy sellers, in general, take much, much, much better photos and use much better better packaging than ebay sellers.

 

[cyberdan]

I just decided to check out ETSY and see what it was like. I got there and it asked me to log in. I guessed at what I would have used if I was a member and guess what? I am a member and didn't remember. I saw I had three messages, all from Jan 2011

 

[dejapooh]

I have put something up for $250 or Best offer (lets see what happens). Generally, I start items at a reasonable price... Maybe 3/4th of what I expect it to bring. If it brings no bids, I will relist. If I am selling from my collection (I have a HUGE collection of Olympic pins I've gathered from going to the Olympics 12 times), I list it for $7 the first time, and then $.99 if it gets no bids. A few weeks ago I bought a set of Gone with the Wind, Franklin mint figurines for $40. I put them up individually and sold about $150 the first time through with 4 left overs. I put them up for $.99 and the will be GONE with the WIND soon (I hope).

 

[The_EE]

I had put on ebay a J. Crew women's blouse for $19.97 a few weeks back. No takers. I purchased the blouse for $1.00. I took a chance and listed it for $0.99. It is now at $21.71. 78 views, 11 bids, 4 watchers.

This is the first time I opted for a $0.99 listing. I may give it awhirl again soon.
apush

I have always started bids out between 25 cents and 99 cents. I have been doing so since I started Ebaying in 2005. I dont do a whole lot of Ebay but I do have some inventory from back in 2005 I would like to get moved so I might get back into it again to do so and take those profits and put it into gold. Anything I make from the inventory is all profit anyways as my costs were covered long ago.

 

[randazzo1]

We can formally endorse the use of 99 cent auctions. The second round was fantastic. Repeat customers seem to be the key - as even when they don't win everything they bid on, they drive up the prices of the items. To summarize: Quality items, Best possible photography, at least 50 items, start on Sunday nights at 4-6 PM PST, 7 day auctions, combine shipping and get ready for a ton of questions on Sunday nights as the auctions wind down!

 

[diggummup]

I listed 4 items for .99 start bid , they end tomorrow night. So far they have had 42 bids between the 4. I'll fill you in with the results Thurs. morning.

 

[clorox]

Whenever I bid on an item I always take a look at the seller's other offerings. Other people must do the same, so it makes sense to list several things at once.

 

[diggummup]

I listed 4 items for .99 start bid , they end tomorrow night. So far they have had 42 bids between the 4. I'll fill you in with the results Thurs. morning.

Forgot about this last week. Here's the result-
They sold for $130 and change between the 4. These were perfumes that I pick up at sales for .50- $2 each, so not bad at all.

I only listed one item at .99 this week, a Tiffany Sterling box. It's heavy, weighs 625 grams. I'll see what happens.