Wednesday, June 10, 2009

Auction or Fixed Price eBay Listings?

I think 30 Day Fixed Price (30dFP) is the way to go!

FP is such a GREAT DEAL, in so many ways.

For 35 cents, you have the whole month for it to sell... rather than just a week with an auction.

Up until it sells, you can change the title, change the price, whatever.... with an auction, if someone bids, you cannot make any changes... and then it could sell for that opening bid.

With 30 days, you can try out a few stratedgies, all for that same 35 cent listing fee.
You can start out with a fairly high price (maybe someone has a saved search looking for EXACTLY what you are selling)..... Then add the Best Offer option after a week, then lower the price a bit a week later, then lower some more, and take off the best offer option....

With 30 days... you can use ALL of those smart keywords you've thought of. Select some to get started... after 2 weeks or so, switch in some different ones.

When you're down to less than a week left... go to your best price... the lowest price you are HAPPY to take... the lowest price the item is WORTH.

If its still unsold with a day or two left, decide what YOU want to do. Do you want to lower the price to try to ensure the item sells? Or, do you want to take a chance and let the listing run out, to see if there will be a last day buyer? (Yes, even with Fixed Price, people DO buy at the end).

If the listing goes unsold, you've "lost" 35 cents, and likely picked up a few watchers, and more experience with the item. You could now: Relist to 30dFP right away, relist to your eBay store, if you have one, or..... let the item stay unlisted for a month or two... and relist it then for another 30 days.. once again pricing on the high side to start.... working with your title, etc.

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