Secrets to Unlocking Your eBay Money-Making Potential
Buying optimization, selling optimization, category and auction optimization – there’s a lot of tweaking, tracking and testing that goes into making your auctions sell effortlessly for you.
But once you’ve got the foundation laid and customer relationships built, growing a successful business from eBay is easy.
The core of profit optimization lies in the timeframe of your auction. The time you launch your auction, as well as how long the auction lasts can make a critical impact on the number of bids you make and how much money you earn as a result.
Now many people have asked us why we should use three day auctions when pricing and selling and what’s the benefit there?
Well, there actually are a lot of benefits to using three day auctions. Its cost effective for one; it costs actually a little bit less to list a three day auction than it would cost say listing a seven or ten day auction.
If you can time it right, if you time the listing right when you actually launch the auction you can actually get a lot of exposure even over a three day window.
Believe it or not a lot of power sellers use three day auctions to get that exposure and to keep their cost of listing a product online down through the use of three day auctions.
I think for people to really think it through, looking at a seven day calendar week, truly the best day to launch a three day auction is either late Thursday night or early Friday morning.
The vast majority of people who access eBay are people who go online over the weekends. Why is that so?
Well let’s just think back on this for a moment. Many of you who go on eBay go on eBay when you have free time.
The vast majority of our work force, those of us who are working, have access to our free time usually on the weekends. That is a great time to get exposure for your product.
If you look at your product and you have a counter on your product, you can actually calculate on a day-by-day basis how many people have viewed your listing on a specific day.
I’ll tell you firsthand I used to monitor this very closely and after awhile I learned that yes Friday, Saturday and Sunday are really the best times to list three day auctions.
So let’s recap that they’re cost effective. Its during a three day auction window if you list it on Thursday night or Friday morning that you get the most exposure for a specific product.
Also, aside from the buy now technology, if you have a product that you know is going to sell and you have one or two of these items and you know its going to sell at the price that you want, why wouldn’t you want to list it at that time so you can sell it and get your money in hand.
Three day auctions are extremely beneficial for that, and again a lot of people use them, especially power sellers who sell large volumes of products that they know they can get the price on. Those are the benefits of three day auctions.
Mike Perry, along with Tim Black are the authors of “High Ticket Item Cash Systems – new for 2009.”.
Mike and Tim help eBay users and business owners build operating models that give them a better return on their time and investment.
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I totally agree that setting a three day auction has a cost effective benefit and that really is an advantage for us sellers.