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You
listed that Darth Maul action figure three days ago and your
auction is still deader than the deep reaches of space. You were
sure this item was going to draw a crowd. What happened? Well,
we're here to help. Read on for several tips on how to increase
bidding and make your auction look more enticing.
Listing
Procedure
If you fancy yourself a serious seller, it's wise to list a set
number of items continually or every other day instead of bulk
listing a huge amount of items in one marathon session. The
upside is that you will have more items in the auction site's
"New Items" and "Ending Auctions" areas,
which, as a rule, get the most exposure and bidding. In
addition, all your items won't be confined exclusively to
the no-man's land between a new and ending auction all at once.
Crowded
Market
No matter how hot you think an item is, it's always wise to see
what the market is like before listing. If you find that several
other items like yours are available, you may want to wait for
the other auctions to close before listing, or consider listing
on a different auction site, where there might be fewer listings
for that particular item. If you are competing with only one or
two other items, you might want to compete on price. Set the
minimum bid lower than your competitors, or opt against a
reserve price to attract bidders to your auction.
Too
Rich
Opinions vary on where to set your opening bid, but if you want
to attract bidders, keep your minimum bid price low. Bidders,
not surprisingly, enjoy the bidding process. They are looking
for auctions that do not start at or above the item's market
value. A low opening bid on an obviously valuable item will
excite bidders and definitely draw a following. Don't worry--if
your item is truly unique and popular, it will reach or surpass
its market value.
The
Curse of the Reserve
Not unlike high minimum bids, reserve prices discourage some
people from bidding. Again, bidders want to take part in a
competitive auction in which they beat out rival bidders or
obtain the item below its market value. In essence, bidders are
attracted to auctions in which the seller takes a gamble.
Reserve prices, while undoubtedly safer, do not imply risk on
the seller's part to bidders. In addition, reserves tend to
discourage bids because bidders cannot judge if the reserve
price is within reason.
In general, bidders do not like
guessing games. They also hate bidding only to find out that the
reserve was totally out of their ballpark. For this reason,
bidders tend to prefer a high opening bid to a reserve price. If
you are intent on using a reserve, do not set it at market
value; set it at your cost or the lowest amount you're willing
to sell your item for. This way, the reserve will be hit a few
days into the auction, and not at the end, letting prospective
bidders know that the reserve price is not outlandish. (See our Understanding
Reserve Auctions tip.)
Worth
a Thousand Words
A photo of your auction item says a lot--and for potential
bidders it can mean the difference between being merely
interested and actually bidding. Furthermore, including a photo
is essential for verifying an item's legitimacy. No matter how
convincing you might sound in your description, bidders won't
want to take the plunge if the item can't be verified with a
photo. With that in mind, do not use stock marketing shots and
indicate that the item looks like the one in the picture. You'll
probably want to invest in a good digital camera (the price
range should be commensurate with your selling level). A digital
scanner is necessary if you prefer to take pictures with a
film-based camera.
Key
Points
Writing an item description haphazardly is the kiss of death for
your auction. If bidders read your description and are unable to
determine if the item is legitimate, they won't bid. Take the
time and care to write a good description. If you have a Web
site (promoting your business, providing information about
yourself, etc.), include the URL. In addition, if you are
selling a brand-name item, tout the brand name in the item title
and description.
Also, be sure to describe the item's
condition honestly and use the appropriate grading terms.
Different collectibles use slightly different terms--know them.
This way, bidders will see you are not overbilling the item with
cliché terms. Along the same lines, describe specific defects,
such as cracks and discoloring, to justify the grade. And, when
necessary, include the size and weight, which will validate the
item's shipping cost. Last but not least, if information is
missing from your auction, add it! Bidders will be impressed
when you take the care to update or correct your auction.
Your
Store
Launch your own auction Web page. Here you can promote your
auction business and provide links to your current auctions on
different sites. Also, describe your collectible interests and
business philosophy, and list your email address. People will
feel more at ease bidding on your auctions if they can get to
know you. Best of all, this is an inexpensive proposition.
Clear
Policies
Even if the auction site's listing system lets you enter who is
responsible for shipping (the buyer or seller) and what payment
methods you accept, explain your policies within your item
description. This boasts your credibility and encourages bids.
For instance, specify how you ship (standard or priority) and
include a realistic rate. Also, indicate if you let the buyer
determine the shipping method. This will encourage bidding.
Moreover, specify if you require
shipping insurance or charge handling fees. Buyers don't want
surprises; they'll appreciate the fact that you are up front. If
you accept personal checks, indicate if you wait for checks to
clear before shipping. If you waive this policy on inexpensive
items, say so. Finally, include your email so people can ask
questions and clarify the terms in your policy. The more
information you include, the more trustworthy and professional
you appear.
A
Little Something
To encourage repeat bidding, slip in a little freebie with a
buyer's shipment, preferably something that relates to the item
purchased. For instance, if the buyer bought a particularly
expensive baseball card, throw in a few extra cards. You might
even want to give frequent customers free shipping or insurance
now and then. Remember that bidders are looking for honest,
customer-oriented sellers. The more pleasant and fun you make
the experience, the more they'll look for your merchandise
Back to Auction tips &
tactics
by Vendio Services
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