Auctions and Buy it Now listings offer two different benefits of selling eBay. Neither one is better than the other, how you use them is what makes the difference. I use buy it now's a lot more than I use auctions but when I do use an auction I make them work for me. I'll show you how to use your buy it now's and auctions and when not to use them.
Everyone gets caught up in the thrill of seeing the bids go up on their auctions. I love hearing that little beep on my phone, letting me know someone has just made another bid. I prefer though, however hearing the cash register sound when my item has sold! The problem with auction as a seller is that they're a little addictive, we're all hoping at least two people battle it out at the end. Don't do this to yourself, unless you have something super rare, something that rarely comes up on eBay. This is where auctions are most valuable. All the feelings you get as a seller, so do the buyers. You want to create something they must have in order for the auctions to really work. No one likes being out bid either!
So using auctions should only be used when you are selling something unique or you really have no idea what the item is worth. You should also list these items at a penny. Read my other blogs to understand why you should do this. Don't start your auctions with a starting bid, you are killing the buyers instantly and even if you get that starting bid, you've jumped the price of your item up, dramatically reducing your buyers interest. You need two people to start a bidding war. Remember when you use auctions, you're going to have to accept the end price.
So, don't be afraid of using buy it nows. If you have an item and you know what you want for it, then list as a buy it now for that price!! By using by it now's you dictate what you want for it. You'll also be happy for when it sells at that price. Do not use the auction and buy it now option, you're undermining your buy it now price by doing that. If you saw an item listed for $100 buy it now or you can also make a starting bid of 99c, which are you gonna choose? Does the item look like it's worth $100 now either?
Buy it now's are great if you want to make money fast. You'll have to wait for the auction to finish before you get paid, that if the winning bidder still want's it still too. Yep, people do have a change of heart if they win an auction that they placed a bid on over a week ago.
If you want to make money fast, list your item fast use buy it now. If you do not know what your item is worth then auctions are great for finding out. You're going to have to list your item properly for an auction listing to get the maximum amount of bids for you.
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I'm thinking of writing an eBook on how to start your first eBay business, giving you all the tips and tricks that you'll need to start getting those sales fast. If you'd liked to see this happen please leave a comment below.