7 Best Auction selling tips for eBay when selling from Shopify
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One of the biggest questions that often haunts the mind of sellers when they list their products on eBay is, “Should I move ahead with Auction style listing or Buy it Now option on eBay?” It might look like one of the simplest questions, but unfortunately, the answer is not so easy.
Indeed, some items will always sell better through auctions. Others will do better with Buy It Now or fixed price listings, as eBay refers. In addition to the pricing, demand and scarcity are other factors to consider when deciding the listing type on eBay. It is highly recommended to prepare an eCommerce business plan to analyze how to do business on eBay successfully with a proper auction strategy.
Listing types on eBay
eBay offers all its sellers two types of listing options at different insertion fees. The two basic kinds of listings are auction format listings and fixed-price listings. Fixed price listings or the buy it now listing are similar to online shopping in any other marketplace; you click a button to make a purchase, then pay for it, and await the item’s delivery.
Auction-style selling is eBay’s backbone and its claim to fame. The item you want to sell can be auctioned for up to ten days – through one, three, five, seven, or ten days listing duration.
How does eBay Auction Style Listing work?
Buyers can bid for the price based on your list’s opening price. The highest bid determines the winners. You can reserve a price for item auction listings, indicating the lowest price you are willing to accept. Thus, letting you control the final sale price.
Sellers can set fixed prices for their products with the fixed-price method, also known as the Buy It Now format.
How does eBay Fixed Price Listing work?
Buyers can purchase an item immediately, without bidding on it, if they know the exact price of it. Since there are no bids or auctions to wait for, this method is fast and efficient.
Tips for Auction Style Listings
#1. Watch n learn
Work your way into the auction listing by following and learning the basics of selling through eBay. The best way to do this is by going through all the listing types available on eBay for the niche you want to target. It’ll give you an idea of what kind of Auction style is best for you (starting price, duration, and other details).
Once the due diligence is done, you can start listing your products under the auction style following a competitive pricing and listing format.
#2. Do not inflate the prices
One of the biggest mistakes merchants often make is inflating their product prices by including the handling and shipping costs in the product prices. Smart buyers have a keen eye for inflated prices of products.
Avoid going beyond the actual price of a product after including shipping costs. Seasoned buyers notice these minute details and can change their minds not to buy the item you’re selling at the last minute.
Technology today makes it impossible to use anything less than the highest quality product photos. The quality, number, and kind of pictures in an eBay listing will directly influence its effect on a seller.
In addition to getting customers interested in purchasing, good pictures can also help resolve customer service problems. A good photo helps customers understand the details of your product, so they don’t have to email you to ask about it, and they’re less likely to get disappointed later when they receive a product that isn’t what they expected.
#4. Pricing style
It is always beneficial to start with a low starting price as it may help you attract initial bids on your product. Include a Buy it Now prices to the auction listing as well. The Buy it now price will be applicable for buyers until the first bid is made and can help you get a confirmed sale instantly at the price you set. Remember, your Buy it now price needs to be at least 40% higher than your starting price for the auction. eBay also lets you set a reserve price for your commodities, under which you set a minimum value for which you want to sell the product.
Suppose you have a pokemon collector card that you want to auction off for a starting bid of $50. Set a Buy it now price at $90. eBay also lets you set a reserve price for the product. eBay recommends using the reserve pricing system for high-value commodities. The cumulative fees will leave a low-profit margin for selling low-priced products.
#5. Free Shipping and Return Policy
Even though free shipping can reduce profit margins, it is still necessary. The Amazon Prime program has set the standard for customer expectations regarding shipping.
They ship fast and free. If you don’t follow suit, your customers might be put off, and you may lose them to a competitor who offers free shipping for the same product.
Your listings will become more appealing and more likely to appear in eBay’s search results when there is an option to return items for free for up to 30 days. Additionally, if you offer free 30-day returns, you will be eligible for eBay’s Top Rated program, resulting in your listing and search results displaying the Top Rated seal.
#6. Automatic relisting for Auction-style listings
eBay lets its occasional and new sellers relist their auction-style listing automatically. Remember that the automatic relist option is unavailable to other sellers who have been selling around for longer.
If you select the auto-relist option (if available) when you create your listing:
- You get eight automatic re-lists in an auction for 5 days or longer.
- The auction will be automatically relisted up to eight times as a 7-day listing for auctions lasting 1 or 3 days.
- Almost all categories are eligible for automatic relisting, but a few exceptions exist. Listings in vehicle categories are not eligible for auto-relisting.
- Your item will appear in your unsold items if it has not sold after 8 re-listings.
#7. Timing the eBay auction listing
Listing items on the Internet when most people are on the Internet is generally the best strategy. Typically, this will occur in the evening, when most potential bidders are home after work.
A one-day listing starts on Monday at 7 p.m. and ends on Tuesday at 7 p.m. Therefore, start and end times should be considered together. You should aim for the evening and Sunday evenings to generate the highest bids.
If you want to sell items, you should avoid the time of day when you can find the best bargains. Most potential bidders sleep when this happens in the early morning or very late at night. It can also be hard to make a sale on Friday and Saturday nights because people are out having fun.
With its traditional auction-style listing, eBay still has the power to make anyone a thriving online seller without spending much.
Unlike “traditional” live auctions, clocks control the “eBay auctions”. The seller lists a fee and lists the item on eBay for a definite period. The highest bidder takes the glory when the listing duration is complete. All it requires of you is to learn about the do’s and don’ts and take the eBay auction selling tips to heart.