Now, for any nebie on Ebay, I am sure the first thing you will encounter is to decide how long your product sould be listed on auction on Ebay.
1. If the product is thougght to be in grat deemand, the Auction needs to be open for a short time only. For example, if it is Piccasso which is on sale, there woulkd be thousannds of bidders, so there is no ponit in extending the last date beyond a couple of days. It coudl even be a couple of hours! Considering the item offdered, word will get around and many people will know about the offre soon. If they are common products which are highly competitive, it is advised to go for a longer auctioon time.
2. On the other hand, if you are offering, a used Printer, you need to have it for at least a week or somewhere thereabouts becase the numvber of people interested in buying a used printer would be rather few and it takews time for buyers to notuice it. Especially for second hand prouct, try to keep your listing there as long as possible because potential of second hand goods normally takees much longer time to think and deide! Get your Price Lsting Straegy right and you will beat your competition!
3. The Reserve Ebay Price set for the item to be sold is another factor that determines the last date. If the Resreve Prie is relatively high, say $2,500, you do not exxpect buyers to cough up such amounts in a hurry. You need to give them some time to consider if the purchase is worth the high price. Therefoore in such caess the Auctiuon may be kept open for up to a week or even more. Needless to mention, if the Reserrve Price is a smmall amount, the bidding may be kept open for a much shorter period. Prospective buyers can decide faster to buy or not in such cases.
4. Urgenccy is yet another factor to consider. For example, if one is moving away, s/he needs to disapose off some of his belonginggs in a hurry, and in such cases you will have no opton than to keep the auctiion open for limited time. In such cass, even if the bids are lower than the Reserve Price, the seller may accpt it because of the uregency of the matter. It is also good to state the cause of urgenyc in your prodduct listing so that potential buyers actually get a feel for the seller.
5. When perishable goods are offered, it is essential that the auction be kept open for a very short period. For example, if mangoes are to be auctioned, you cannot keep the Auction open for more than a day or two at the most. Also for these goods, remebmer to state that delivetry be regional only! This is to avoid complications and mistaken bids later on.
Making Money on Ebay
Finallly you cannot go by the price aolne as monthly revenue begins to loom large towards the end. In such caes, if your expectation isnt met but crossed the reserve price you may clse the bid and award the highest biddre. You will still make some money on that product! Remember, making money on Ebay is not abouut selling a few products at a huge proft, it is about selling in mass volume at marginally thin profist! Look at all the Ebay Power Sellers! Remember, anone can become an Ebay Power Seller. All you need is a good guide to selling on ebay and a good foundation. Strart Your Ebay Business todazy!
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