Insider Auctions has developed a list of some of the best tips for auction success to hopefully help you entice more potential buyers to your auctions. After going through the list, visit http://www.insiderauctrions.com/ to try out these tips. Insider Auctions offers Free basic listings, low optional feature fees and a low flat 2% selling fee. We hope you find this information helpful and look forward to serving you.
Item Title
One of the most important ways to attract people to you auction is to set a great Title. When choosing a Title:
- Include words people will search for.
- Make your Title enticing so potential bidders will choose your item instead of others being offered.
Example:
- If you want to sell an antique oak dining table, a Title like: old oak dining table would probably not bring in a lot of bidders. However, if you use a Title like: "Vintage Oak Dining Table - Excellent Condition - Collector's Item" not only would you get more potential bidders to view your auction, you would be using words people would be more likely to search for. Your auction Title will appear in searches for Vintage, Oak, Dining Table and Collectors Items which will allow even more potential bidders to see your Title.
Item Description
Another key element is the way you compose the Item Description:
- Start with a very powerful paragraph to get the potential buyer interested enough to read the rest of the item description.
- Use wording to excite helping the bidder to visualize kicking the tires, taking a test drive and increasing the desire to own the product. This will almost certainly guarantee more determined bidders.
- Keep in mind Item Descriptions need to give enough information for bidders to determine if they want to bid, but too much rambling of information will discourage bids.
- Be careful of misspelled words and typing errors
- Describe your item in clean and accurate terms
- Use lists to make your item's attributes easier to see. Don't make a list of boring features but rather a list of the benefits. A benefit is what a feature does for some one. Finding the right Benefits for an item can Really Sell.
- Try to make your item well worth the price you're offering.
- To get more people to bid, write a motivating short paragraph at the end telling the bidder why they should buy. Don’t just describe the item and end; motivate to buy
Example of a Watch up for auction:
- Be the talk of the town with this prestigious 24ct gold watch.
- Don't worry if it accidently gets wet because it is water resistant
- Be confident you will always be on time because Rolex is extremely accurate
Item Condition
Tell the bidder the condition of the item.
- Is it new and in original packaging?
- Is it slightly used but in "like new" condition?
- Does it have imperfections the bidder needs to know about before bidding?
This is all information the potential bidder will want to know prior to placing a bid.
Terms
Don’t take for granted a bidder will automatically accept your Terms.
- Be very clear and concise in spelling out the Terms of your sell.
- To increase sells it is always a good idea to either include insurance in the cost of shipping or to offer the buyer the opportunity to purchase insurance.
- It has a negative affect on buyers when sellers use such statements as "Not Responsible for Item Once Shipped" or "Item Sold As Is".
- It is a good idea to have some sort of guarantee on the merchandise you sell; this gives the bidder a sense of security when placing a bid.
Shipping
Shipping falls in the same category as Terms. Don’t take anything for granted.
- Be specific and spell out what shipping charges will be.
- Don’t try to rip off buyers by inflating the shipping price to increase your profit. People have a fair idea of what shipping costs should be and if they feel you are trying to cheat them on shipping they may not bid on any of the items you have listed.
Testimonials
Some people like to use testimonials from people who have previously owned the item they have up for auction. This could be a past customer or someone who has owned a similar product. Testimonials are technically other people selling your item for you. They can be very powerful and create belief in the quality of what you are offering.
Images
People want to see what they are bidding on:
- It is very important that you use at least one image on your auction page.
- More than one image is really better since it gives bidders a clearer understanding of what they are bidding on. All you need is an inexpensive digital camera and you are ready to go.
- Show the item's details or any imperfections it may have with clear pictures that are well lit.
- One other consideration is the size of the picture; be sure to keep the image at a reasonable pixel size so the page doesn't take too long to load. Potential bidders will leave after a few seconds if the page has not loaded.
Customer Support
Quickly respond to all emails regarding your auctions. Let potential bidders know their questions are important to you and you want them to understand exactly what they are bidding on. If you don’t, bidders may look to someone else for the product.
Reserve Price
While some people believe there is a time and place for putting a Reserve Price on an auction
- You may actually get more bids using no reserve at all.
- Do research on the price of the item to help you make your decision.
- If you do decide to use a Reserve Price, keep it real.
Auction Start and End Times
Always plan your auction start and ending times around the bidders you want to attract to your auctions. It is usually toward the end of an auction when the bidding gets hot and heavy; therefore, if you want your item to sell for a good price, it makes sense to end the auction at a time when someone is going to be around to bid on it. Create a profile on your product and what group of the population you are selling to.
Selling to Business Consumers
If you are selling business equipment and have mostly business customers:
- Schedule your ending auction time between 9am and 5pm on weekdays.
- It is a good idea to try and avoid mornings, especially Mondays.
Selling to Home Consumers
If you believe most of your sales are going to private customers having it shipped to their own homes:
- You want your auctions to end when these kinds of buyers will be around.
- Unfortunately, you will find these times are the opposite of what they are for the business customers.
- The ideal time to catch a home customer is between 8pm and 11pm after the children are in bed, and Sunday evenings.
Scheduled Start Time
Of course you can't always be around when you need to start an auction so it will end at a specific time. Not to worry, there is a place to specify the time you want the auction to start.
- Many tools are available through the Insider Auctions site and it is a good idea to make use of them.
- Scheduling a starting time has a nominal fee, but well worth the little extra expense to get your item in front of your targeted bidders at the targeted time.
Listing Duration
At the time you list an item for auction, you can select the duration to run the auction.
- To end on a specific day, you can simply change the duration depending on the day listed.
Example:
- If you mostly sell to home consumers and the day the auction is listed is Thursday, your auction needs to run either 3 or 10 days to hit a Sunday.
- If you sell more to businesses and the day listed is Friday, any listing duration would be good except for a 1 day auction since most people are off on Saturday resulting in a smaller bidder pool.
- Draw up a timetable of when you should and shouldn't be listing depending on the days of the week.
- Highlight days of the week using red, amber and green, traffic light style and
- Hang the list close to the computer for easy at-a-glance access.
- Experiment to find what day is the best day to end an auction
- Use a variety of web-based research tools to determine what day and what auction durations are best for your products.
- Listing durations can also be used to generate a sense of urgency, especially for much sought after items. This can appeal to impulse buyers and prompt them to bid now rather than wait. The 1 or 3 day auctions work best for this scenario.
Feedback
After the buy and sell has been finalized, it is imperative that you leave feedback about your experiences with each other.
- This information can then be used by others to determine what kind of transactions other buyers and sellers have had with a specific buyer or seller.
- It is very important to keep your feedback rating positive so others will want to deal with you.
Now, hopefully you are equipped with everything you need to have successful auctions. Try out your new found skills at http://www.insiderauctions.com/ for Free. All basic listings are Free, the optional feature fees are minimal and the selling fee is a flat rate 2%. Give us a try!
No comments:
Post a Comment