On eBay you run your auction for a distinct duration. At the moment, the selections are 1, three, five, 7 or 10 days.
But which duration is greatest for your auction?
In this report, I will give you some pointers made to help in answering the query.
You could wonder why you would ever want to have much less than the maximum exposure i.e. 10 days? Certainly operating your auction for the longest time would give bidders far more chance, and thus a greater sale cost would outcome? Surely eBay.com would seem to consider so, as they at present charge a charge of $.20 for the privilege of operating a 10 day auction.
Having said that, if you have a quite well known item or if you have lots of identical products to sell, it might spend you to have a shorter auction duration. Also, it pays to contemplate the finish point of your auction quite very carefully. In addition, if you are operating a Fixed Value auction, there is a tiny trick you can employ to give you further exposure.
So, let's evaluation the components to contemplate in the setting of your auction duration.
a) Commence/finish day of auction
In my encounter, for most categories, the weekend is by far the busiest viewing period on eBay. I would estimate that about 50% of views of my auctions take spot on Saturday and Sunday. In setting auction duration, thus, the weekend peak could be vital to your good results.
If you can arrange to finish an auction on Sunday evening, you get the advantage of these who wait till the finish of the auction to bid, plus the enhanced viewing targeted traffic numbers which seem throughout the weekend.
This implies if you are posting an auction on Tuesday evening, a five day auction could be great.
Possessing stated that the weekend is the busiest for most categories, some could advantage from a midweek closing date. Things in this category would incorporate these in which goods are supplied for organization customers.
If your item is targeted at companies, you want folks to bid for your item whilst they are at perform. In these situations, make confident your auction covers operating days, and concludes throughout perform time. It has also been located that workplace gear and supplies sell properly in the morning.
Be conscious of the time when you post your auction, as this is the precise time it will finish a quantity of days ahead. There is potentially a excellent deal of distinction involving an auction closing at 10 o'clock on Sunday evening, and 10 o'clock on Sunday morning. If you can pitch your auction to be the former, you could advantage considerably from these further weekend viewers. (Note the section on Time Zones later.)
b) Recognized recognition of the item
If you know your item is quite well known, and your previous encounter shows that you will generally sell at or far more than the cost you want, even outdoors of standard peak periods, then a 1 or three day auction could be suitable. The advantage of a 1 or three day sale is that you can sell far more products, far more swiftly.
c) Awareness of eBay sort facilities following browsing
Anytime eBay's search is utilized by an eBayer, the default is that it returns auction titles in the order of how extended auctions have left to run. Auctions which have minutes, or seconds to run, will seem very first in the returned list. Auctions which have 9+ days to run will be at the finish. And the list might run to lots of, lots of pages.
Practical experience has shown that eBayers have a tendency to appear only at one particular or two pages in returned lists. This implies it is vital you get your auction onto these very first two pages at some point in its life – a further purpose why a 1 or three day auction could be much better than a 7 or 10 day duration.
Be conscious as well that a higher proportion of bidding activity requires spot towards the finish of an auction. This is all-natural. Purchasers are on the lookout for bargains. If they can nip in with a bid at the finish of the auction, they could get the item at a great cost and there might not be time for other people to prime their bid. (Purchasers can also use “sniping” software program, made to spot a bid at the most up-to-date feasible time on auctions which are of interest to them.)
Having said that, the searcher can effortlessly re-order the returned titles list. A well known solution is to re-order the list into “newly listed” sequence. The prime of the list will now show auctions which have been newly added to eBay. This is why there is often a blip of bidding activity at the starting of an auction as properly as at the finish.
d) Time Zones
eBay's default is to commence your auction from the time you submit it. As you know, this implies it will terminate at that precise time, the quantity of days ahead that you pick as the duration. Having said that, if you are providing your item internationally you really should give consideration to the time zone you are aiming for in terms of auction finish point.
For instance, in the USA half of all eBay members reside in the Eastern Time Zone. So an auction ending at 10pm Pacific Time is fine for west coast eBay members, but more than on the east coast this is 1am! So you are successfully losing about 50% of prospective bidders at a crucial point in your auction.
eBay does give an solution whereby you can schedule your auction to commence at a distinct time (and on a further day). In reality you can set your auction to start off at any time and day up to 21 days ahead. This implies you can commence your auction according to the timing you think will attract the most viewers. There is a little charge for working with this function.
This is a valuable capability if you want to build your listings in advance, and then have them released onto eBay in a phased sequence.
e) Fixed Value auctions – Single Item
I talked about a tiny trick earlier. Nicely, right here it is. With a Fixed Value auction for a single item you could contemplate managing your auction duration dynamically. You want to be monitoring your auctions closely i.e. all through the day, to undertake this approach.
When bidders do a search on eBay, you know the auctions with the least quantity of time left seem at the prime of the returned list. So it is advantageous to hold the remaining time on your auction as quick as feasible. This is a way in which you get 4 bites of that cherry for a single listing charge.
1. Commence your Fixed Value single item auction off with 1 day duration. Wait for a person to obtain.
2. When the auction has just more than 12 hours left, go in to the auction and revise the auction duration to three days. Yes, you can do this – as extended as there is at least 12 hours left. Wait for a person to obtain.
3. When the auction has just more than 12 hours left, go in to the auction and revise the auction duration to five days. Wait for a person to obtain.
4. When the auction has just more than 12 hours left, go in to the auction and revise the auction duration to 7 days. Wait for a person to obtain.
5. When the auction has just more than 12 hours left, go in to the auction and revise the auction duration to 10 days. (Do not overlook this will expense you a little charge on eBay.com) Wait for a person to obtain.
6. The auction concludes naturally.
This could appear difficult, but it is not definitely as soon as you get the hang of it. Of course, at any point throughout the above procedure a person could obtain your item and your auction closes automatically. If you have a further of the identical or equivalent item to sell, you can re-list it.
f) Fixed Value auctions – A number of Things
With a Fixed Value auction for a number of products, I would advocate you set the auction duration to the maximum – 10 days, or 7 days if you are not ready to absorb the further charge on eBay.com.
When you have a number of products it is not advisable to use the ploy described above for Fixed Value single item auctions. This is since as quickly as you acquire a bid (in this case it would be a Fixed Value sale), you are unable to modify the auction duration even although you might have lots of of the a number of products nevertheless to sell.
If you sell all your products inside your selected 7 or 10 days, then the auction closes automatically anyway.
g) Worth Primarily based Formula
If you are happier working with a worth primarily based formula in setting your auction duration, right here is my rule of thumb for products that I have not attempted to sell ahead of:
Min Bid amounts Set auction duration to £5 - £25 ($10 - $50) five days £25 - £100 ($50 - $200) 7 days More than £100 (More than $200) 7 - 10 days
If you are promoting products which from encounter you know will unquestionably be purchased at acceptable costs, then you can minimize the duration.
I hope this outline of picking the greatest auction duration proves valuable to you.