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For
sellers, there's no greater frustration than listing an auction
that fails to elicit a winning bid. But don't despair when one
of your items doesn't sell. You still have the option of
relisting your auction. The second time--or even the third or
fourth time--might be the charm. Our tip offers information and
guidelines that will hopefully turn an unsuccessful auction into
a successful one.
Know
Your Site
Most auction sites make the process of relisting very easy. Some
sites charge for relisting, some don't. Make sure understand
whether you will in fact be charged before you list again. You
might not want to incur more fees if you're relatively certain
you have an item that probably won't sell. But if it's free,
then hey-- you've got nothing to lose. When doing the initial
listing of an auction, some sites offer you the option of
indicating whether you want to relist right then and there. Some
will even automatically relist for you.
Find out about your auction site's
relisting policy. (Information on relisting is generally found
on pages that contain information about the site's fees.) eBay,
for example, will charge you for relisting if your auction ends
unsuccessfully the first time around. However, if the second
auction is successful, the site will automatically refund the
relisting fee. On Auctions.com, you can relist an auction up to
three times without any additional charges. (There is, however,
one restriction: it must be the exact same listing that ran
previously.) Obviously, on free sites, such as Yahoo Auctions,
relisting is free as well.
Strategize
So what went wrong? Well, there are a number of things to
consider changing when you relist:
Come up with a new auction title. Is
your original title too vague? Too boring? Are you using good
keywords? Are you relying on unnecessary adjectives or annoying
L@@Ks and MuSt HaVes?
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Rewrite the auction description,
possibly adding better keywords and making the text more
engaging.
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List under a different category
that might be more appropriate or draw more traffic.
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Add a photo (if you already
haven't).
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Have your auction end on a
different day and/or time. People browse auction sites at
various times throughout the day and week, and sometimes all
it takes is a different audience for your item to find a new
home.
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Decide whether your opening bid or
reserve price is reasonable. You might be asking too much.
And if you listed a reserve auction that closes without any
winning bids, you might think about relisting without a
reserve.
The
Waiting Game
But sometimes it's just a matter of timing. So how long should
you wait before relisting? Some sellers like to relist right
after an auction ends (making the kinds of modifications
mentioned above), while others prefer to wait a few weeks.
Either way, consider that round two. If the second listing
doesn't work, try again after another two to four months. A
little patience, fortitude, and luck can go a long way. In
general, keep an eye out for market cycles in the type of
merchandise you typically auction. What doesn't sell one day can
become popular within the next few months.
Take
It Like a Pro
If after relisting three or four times and trying different
strategies and still your auction fails to garner a winning bid,
then it's probably time to face the fact that you won't be
selling this particular item--at least for now. Either accept
the loss (easier said than done), get rid of the item, decide if
perhaps you can use it in some practical manner (doorstop,
paperweight, etc.), or wait it out stoically for the long
term--who knows, in five years you could be in possession of a
hot collectible that turns out to be The Next Big Thing.
Back to Auction tips &
tactics
by Vendio Services
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