Make Money on eBay Selling Multiple Quantities using Dutch Auctions – Part One
Dutch Auctions allow you to sell to multiple bidders and buyers if you have several quantities of the same item.
Most sellers discount Dutch Auctions because they believe it somehow dampens the value of what they want to sell, or it somehow makes it seem like they have an unlimited quantity and therefore they don’t get many real bids. Neither of these can truly do the kind of imagined damage to an auction than some sellers think they can.
In fact, Dutch auctions can be incredibly useful when you approach them the right way. Here’s a method I use to continually and successfully sell products using Dutch auctions.
If you think about a Dutch auction, you can list a thousand of the same item and sell a thousand of the same item with just one auction. That is a huge benefit for someone who doesn’t want to put up a lot of different auctions.
They can take one type of product and sell that product over and over again through one single auction. That’s a huge time saver.
That’s why a lot of retailers will use Dutch auctions – because they want to make sure they can get out as much volume as they can through one auction site.
So what influences me using Dutch auctions? Well there’s a couple variables; a key variable that I look at when selling products through Dutch auctions is the velocity of the product – how fast is the product moving through the auction?
How many of them do I sell a day? If I can sell ten a day that’s great but if I have a product that’s in a Dutch auction and I can only sell one a week it doesn’t serve a purpose. Its better to just sell one through a regular auction.
There’s many people out there who they have multiple quantities of the same product and they want to sell it through different categories.
That’s OK too. But again one of the major drivers begin using Dutch auctions is to gain the ability to sell a product through multiple quantities through one single listing.
That also gives the buyer a chance to go see if the product is selling.
If you have a buy now auction and people are looking to see that purchases have been made on the product that can serve as a marketing tool or a marketing vehicle to influence the buyer to buy the product. One thing you’ll notice about buy now auctions and open auctions is that if an open auction is in fact a Dutch auction you can see that multiple people have bought that book.
With a regular open auction at this point in time I can’t see how many books have been sold. So there’s a crossover; there’s a meeting that you go through where if you see a product and you see that the product has been sold to other people that adds somewhat to the credibility, to a product’s worthiness because other people have looked at it they’ve looked at the ad and they’ve seen that in fact it looks like a good product and they are more likely to buy it.
Remember, know when to use Dutch Auctions and when to simply use auctions that are for a single item with one time sales.
Michael G Perry, along with Timothy Black are the creators of the 2009 eBay Smart Secret Success Strategies.
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I can’t thank you enough for sharing these insights about using Dutch Auctions. This really helps.