Deciding to sell on eBay is a decision you make after a lot of careful thinking and planning. But once you choose to go that route, the next choice comes down to selling via auction or fixed price. RepricerExpress knows that there are different strokes for different folks, so let’s take a look at what each option entails and how it can fit for you.
Auction: To the Highest Bidder go the Spoils
eBay is probably best known for its auction-y nature, with sellers listing an item that starts at a base price and requiring potential buyers to bid on it in certain increments — along with the option to select ‘Buy It Now’ to avoid a bidding war and purchase it immediately.
When the shoe’s on the other foot, you as the seller pay a single final value fee to list the item. When you list an item, you get to put it up for auction for 10 days (with the sole exception being items in real estate auctions). And if your item sells within that time-frame, then you get an insertion fee credit. Check out this eBay page so you can understand exactly how insertion fee credits work.
But how do you know if auction-style listings are right for you?
Auction Compatibility Checklist
- You’re selling an in-demand item that can garner more than its retail value, as bidding for something that’s either hot or in low supply can create a little battle between buyers that can work to your advantage.
- Or maybe you’re selling an item that doesn’t really have a specific retail value, like an antique, rare or collectible product. The value of these types of items fluctuates, so maximising on the money coming your way really depends on your sense of timing and how much research and preparation you’ve done.
- If you can time things just so, you can target that segment of eBay buyers who adore bidding and avoid fixed-price-buying. And within that population are the eBay bidders who keep an eye out for auctions that are ending soon so they can swoop in and snatch.
- Lastly, you might have products sitting around that, for whatever reason, just aren’t moving as well or quickly as you’d like. Putting them up for auction can be a fantastic way of selling them and building up exposure to your store.
Fixed Price: One Number, One Buyer
The other type of selling possibility that exists on eBay is listing items at a fixed price, which you can use in conjunction with auctioning. Just as with auction listings, there’s also a final value fee associated with fixed price listings that’s set at the same amount. But unlike auction listings, you can bundle multiple items under one listing at a set price. Plus, you also have the option of having buyers select ‘Best Offer’, which allows them to negotiate with you on the price. And for one last very sweet perk with fixed price listings, you get a whopping 30 days to keep your item up to be sold.
Fixed Price Compatibility Checklist
- When you want to sell items for a consistent amount each time, fixed price listings are definitely the better option. There are no surprises because the price you list is the price it gets sold at.
- And when that item gets sold, you tend to get paid for it much sooner because you can mandate the payment option to be PayPal.
- Or maybe time isn’t of the most importance to you and just getting it sold is. You’ve got up to 30 days to list it, along with the option of selling it as ‘Good Till Cancelled’, which means you can keep renewing it every 30 days until someone buys it. This is mostly a good option if you’re selling doubles of a particular item.
- Lastly, you might be the type of buyer who’s looking at the long-game picture of building your business slowly but steadily. Buyers tend to favour quick sales over hanging around and waiting for deals, so use the potentially shorter time-frame to your advantage.
We can’t tell you to choose one method over another because it really comes down to what your business plan and personality consist of. But what we do know is right for everyone is using RepricerExpress to set competitive prices so you can appeal to as many buyers as possible. But like you have to climb onto a rollercoaster to enjoy the thrill of that first downward hurl, you’ve got to sign up first for your free 15-day trial here.
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