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How Long Should Your Ebay Auction Be Open?
By Erins G.Hans
Now, for any newbie on Ebay, I am sure the first thing you will encounter is to decide how long your product should be listed on auction on Ebay.
1. If the product is thought to be in great demand, the Auction needs to be open for a short time only. For example, if it is Picasso which is on sale, there would be thousands of bidders, so there is no point in extending the last date beyond a couple of days. It could even be a couple of hours! Considering the item offered, word will get around and many people will know about the offer soon. If they are common products which are highly competitive, it is advised to go for a longer auction time.
2. On the other hand, if you are offering, a used Printer, you need to have it for at least a week or somewhere thereabouts because the number of people interested in buying a used printer would be rather few and it takes time for buyers to notice it. Especially for second hand product, try to keep your listing there as long as possible because potential of second hand goods normally takes much longer time to think and decide!
Get your Price Listing Strategy right and you will beat your competition!
3. The Reserve Ebay Price set for the item to be sold is another factor that determines the last date. If the Reserve Price is relatively high, say $2,500, you do not expect buyers to cough up such amounts in a hurry. You need to give them some time to consider if the purchase is worth the high price. Therefore in such cases the Auction may be kept open for up to a week or even more. Needless to mention, if the Reserve Price is a small amount, the bidding may be kept open for a much shorter period. Prospective buyers can decide faster to buy or not in such cases.
4. Urgency is yet another factor to consider. For example, if one is moving away, s/he needs to dispose off some of his belongings in a hurry, and in such cases you will have no option than to keep the auction open for limited time. In such cases, even if the bids are lower than the Reserve Price, the seller may accept it because of the urgency of the matter. It is also good to state the cause of urgency in your product listing so that potential buyers actually get a feel for the seller.
5. When perishable goods are offered, it is essential that the auction be kept open for a very short period. For example, if mangoes are to be auctioned, you cannot keep the Auction open for more than a day or two at the most. Also for these goods, remember to state that delivery be regional only! This is to avoid complications and mistaken bids later on.
Making Money on Ebay
Finally you cannot go by the price alone as monthly revenue begins to loom large towards the end. In such cases, if your expectation isn't met but crossed the reserve price you may close the bid and award the highest bidder. You will still make some money on that product! Remember, making money on Ebay is not about selling a few products at a huge profit, it is about selling in mass volume at marginally thin profits! Look at all the Ebay Power Sellers! Remember, anyone can become an Ebay Power Seller. All you need is a good guide to selling on ebay and a good foundation.
Start Your Ebay Business today!
About the Author
One great way of making money on Ebay is by selling info products with complex, not simple, marketing methods and sales/business models. Ebay Information Product Strategies!
Article Source: http://www.simplysearch4it.com/article/37991.html
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