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EBay Information For Sellers The Pros And Cons Of Offering Auction And Buy It Now Listings Article
eBay Information for Sellers: The Pros and Cons of Offering Auction and “Buy It Now” Listings
from:Listing items to sell with eBay offers a variety of options: from “Buy It Now” to multiple-day listings. Determining which listing purchase best suits each item has its benefits as well as detriments. Here are some of the pro’s and con’s found with each type of listing.
Buy It Now – Offers prospective buyers the chance to immediately purchase an item and proceed to checkout. Buyers like this feature because they will not get outbid and do not have to keep checking their email to see if a higher bid is required. On the other hand, some buyers tend to shy away from these types of listings because they feel a better deal may be had by watching and waiting on a traditional, bidding-type of listing. “Buy It Now” items tend to work best when the asking price is relatively low, as buyers will see the low price as a good deal.
Traditional, auction-type listings – Are the most popular type of listing found on eBay. Here, specific increments of time for each listing are purchased, with the longer listings costing more than the quicker listings. Shorter listings allow sellers with lots of inventory to move items faster and create new listings in a condensed timeframe. While shorter listings are a good way to make some fast cash, having an item listed, which will be popular among buyers, may be advantageous to list for a longer period of time. The item should receive many bids and generate more income for the seller with the extended listing. On the other hand, buyers may hesitate to place a bid fearing the sale of the item will be a long, drawn-out process. This may eliminate some potential buyers and long-term customers. To prevent this from happening, a combination options should be chosen: listing with both the “Buy It Now” and traditional, timed listings.
To determine a “Buy It Now” price, write down on paper your minimum acceptable offer. Add fifteen percent to the price to cover eBay listing/final value fees and PayPal transaction fees. Now find similar products already offered on eBay. Is the listing comparable or overpriced? When judging note condition (new, used), description (to verify model) and included offerings (any supplies or extras included). After examining these options and the price seems right, list as both a “Buy It Now” and auction listing. Make sure the minimum acceptable bid is at least the minimum amount, minus listing, final value and transaction fees that would be an acceptable, final price.
Whether choosing to list items as “Buy It Now”, as quick or long auction listings, or a combination of both, providing a purchasing process appealing to a wide range of buyers will help move inventory quickly and efficiently. As long as the minimum acceptable price of the item has been met, the seller has achieved his or her main income goal; while gaining another customer and conducting a business transaction that hopefully will increase a seller reputation and provide positive feedback.