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Like
most old sayings, the adage that timing is everything is indeed
true. As an online auction seller, timing your auctions is
crucial--it can literally make or break a sale. But what's the
best day of the week to list or end an auction? How long should
an auction run? And what about the best time of day to end it?
These are the types of questions you'll be thinking about more
often, as you become a more experienced and more ambitious
seller. Read on for information on how to better time your
auctions.
Auction
Length
Before listing, you'll need to calculate which day you want your
auction to end (this in turn will dictate your auction's
beginning day). Auction sites typically offer several choices
for auction length; most range from three to ten days. Remember:
If an auction is too long, it might get lost in the shuffle,
whereas if it's too short (three or five days, for example), it
might not generate any steam and disappear too quickly.
In general, it's best to let auctions
run for at least a week. Granted, this can be a long wait for
sellers who want to close a deal; however, by having an auction
encompass a full seven days you'll potentially reach people who
browse the Internet and auction sites only on certain days of
the week. More importantly, the listing will run during a
weekend, when Internet traffic is generally higher. Running a
short auction that doesn't encompass a weekend can hurt your
chances of finding bidders. Some sellers prefer the ten-day
option; that way, if they list on a Thursday evening, their
auction will be listed during two weekends.
Eight
Days a Week
Although opinions vary, Sunday is generally considered to be the
best day to end an auction. If you start and end an auction on a
Sunday, you'll get a full week and a full weekend's worth of
exposure. Again, Saturdays and Sundays tend to bring out more
users (not everyone has the luxury of surfing the Web while at
work during the week).
What's the worst day to end an
auction? Fridays can be particularly bad because you don't get
that weekend surge. Also, people who take three-day weekends are
away from their computers on Fridays and Saturdays. By ending an
auction on a Sunday, though, you can still appeal to folks who
have been away for most of the weekend but go online when they
get home on Sunday afternoon or evening. Ending auctions on a
holiday weekend can be a different story; some sellers avoid
closing on holiday weekends because people are out of town en
masse for longer periods of time.
Keep in mind, though, that the best
day might depend on the kind of client base you're targeting.
For example, an auctioneer who sells software (primarily
to college students) found that ending auctions on Thursday
evenings worked best for him. Why? Perhaps it's because college
students are online more often during the week than the weekend.
Morning,
Noon, or Night?
Some sellers will tell you that launching and ending an auction
in the morning is preferable because people can see it when they
arrive at work (also, the listing process might go more quickly
because site traffic will be lower and servers less taxed).
However, evenings, or prime time, typically work best. Buyers
might secretly check out auction sites at work, but they're more
likely to browse seriously and place bids while at home during
the evening or on the weekends.
By ending an auction in the evening,
you have the whole day to build up interest. Be sure to consider
time zone differences as well. Try to close your auction at a
time when people on the East Coast are still up and West Coast
folks are just getting home from work (6 p.m. to 8 p.m. PT).
It's important to have your auctions appear as new or
closing--the times when auctions are most visible--during peak
traffic periods.
Research
Remember, the preceding tips are just general guidelines. The
best way to find out how to time your auctions is to do a little
research. By using counters you can track when your auctions
receive the most hits. Our counter service also provides you
with a daily breakdown of page views--invaluable information for
sellers trying to determine which selling strategies are the
most effective. Furthermore, consider experimenting: list items
on different days and times, as well as run auctions for varying
durations. Compare your success-failure ratio and see which
times and days work best.
Back to Auction tips &
tactics
by Vendio Services
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