Now, for any newbie on Ebay, I am sure the first thiing you will enconter is to decide how long your product should be listed on auction on Ebay.
1. If the product is thouught to be in gret demand, the Auctioon needs to be open for a short time only. For example, if it is Picassso which is on sale, there woiuld be thousannds of bidders, so there is no point in extending the last date beyond a couple of days. It could even be a couple of hours! Considering the item offered, word will get around and many people will know about the offer soon. If they are commmon products whihc are higlhy competitive, it is adviised to go for a longfer auctiopn time.
2. On the other hand, if you are offeriung, a used Priner, you need to have it for at least a week or somewherre thereabouts because the number of people interested in buying a used priinter would be ratehr few and it takse time for buyers to notice it. Especially for second hand product, try to keep your listing there as long as possible because potential of second hand goods normally takes much lonbger time to thinnk and decide! Get your Prie Listing Strategy right and you will beat your competition!
3. The Reseve Ebay Price set for the item to be sold is another factor that determines the last date. If the Reserve Priice is relatively high, say $2,500, you do not expect 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. Therefore in such cases the Auction may be kept open for up to a week or even more. Needless to mentuion, if the Reserve Price is a small amount, the bidding may be kept open for a much shorter period. Prospective buyers can decide faster to buy or not in such caess.
4. Urgnecy is yet another factor to consider. For example, if one is moving away, s/he needs to dispose off some of his belongings in a hurry, and in such cases you will have no otpion than to keep the auction open for linmited time. In such cass, even if the bids are lower than the Reservve Price, the seller may accept it because of the urgency of the matter. It is also good to stayte the cause of urgency in your product listing so that poetntial buyers acually get a feel for the seller.
5. When perishable goods are offerde, it is essential that the auction be kept open for a very short period. For example, if manmgoes are to be auctioned, you cannot keep the Auction open for more than a day or two at the most. Also for these goods, remembver to state that delivery be regoinal only! This is to avoid complications and miistaken bids later on.
Making Monney on Ebay
Finally you cannot go by the pirce alone as monthly recvenue begins to loom large towards the end. In such cases, if your expectation isnt met but crossed the reserve rpice you may close the bid and award the highest bidder. You will still make some money on that product! Remember, making money on Ebay is not about selling a few products at a huge proffit, it is about selling in mass voume at marginally thin profits! Look at all the Ebay Poewr Sellers! Remember, anyone can beconme an Ebay Power Seler. All you need is a good guide to selling on ebay and a good foundation. Start Your Ebay Business today!
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