5 HOT TIPS TO A WINNING EBAY AUCTION

Just finished up with a smoking hot seven day eBay auction for my Motorola Razr. Maybe it’s my age, maybe it’s a sign that I need to get a life or maybe it’s just a sick and twisted need for adrenaline any way I can find. Watching the last day, the last hour, the last minute and the last seconds can be a major rush or a nail through your eye painful experience. How you structure your auction on the front end and what you do on the back end can in a large part determine which type of experience you’re going to have.

Here are five (5) tips I used to have a very successful auction. Now obviously there are dozens upon dozens of other tips that could increase your auction success. These worked and have worked for me over the years.

5 HOT TIPS TO A WINNING EBAY AUCTION

1.  RESEARCH: If others aren’t selling the item you have…guess what? Yup, you’re not going to either. Do your research on closed items…these are a gold mine of information.

2.  GREAT PICS: Sure you can cut and paste stock photos or worse yet those of other auctions (very bad practice and NOT recommended). Take several good clear pics of your item. In the long run this could save you from some major headaches.

3. TIMING: This is a short one, post your auctions on Tuesday or Wednesday preferably no later than 7:00 p.m. This allows for folks to see the item during the weekends. It also will end in the evening when most people will be home to watch and bid .

4. LOW STARTING BID: If I’m selling an item that’s valued at $300.00 or less and its trending well I start my auction at $0.25. The psychological buy in from bidders who start in on an auction set so low is quite amazing. It also is a great marketing tool too.

5. BUNDLE: With the auction of my Razr I included the Otter Box Case and belt clip. I had the original Verizon box, instructions and chargers also. I took a pic of all the pieces that were being included.

6.  MARKETING: I use any means that I can to get the word out that I have this item, that it’s for sale, the low price (see tip #3), ending soon, and the eBay item number. I send emails to my previous buyers, I send emails to those posting in the Wanted Items of Craigslist, announce it on Facebook, Tweet the details, find related Google Groups and put an announcement in the signature of your email. Marketing/marketing/marketing…this is your opportunity to drive interested parties to your auction.

7.  BONUS TIP: WHO'S WATCHING?  Your goal needs to be to have double digit watchers of any auction. Preferably 13 or more…call your friends, family, neighbors and ask them to watch your item (tell them to just watch it, there could be problems if they bid but that’s another article). As your marketing let potential buyers know that there are only a few days left on the auction and that very few people are watching this item. Use these words…verbatim. The number of people watching your item and the number of views your auction gets is a direct indicator of your marketing success. For this…more truly is more!

Well using these tips this is how I ended up with my auction. My item for sale was Motorola Razr cell phone with Otter Box Case and clip. The beginning bid was $0.25. I ended up with 12 people watching this item but I had three that came and went as the bids exceeded their comfort level. The auction was viewed 153 times and had 25 bids. Over the seven days the item went from $0.25 beginning to $191.50 ending price. An hour after the auction the bidder put the money in my PayPal account.

To me that was a successful auction!

Top 5 Government Auction Sites

Government auctions are a great way to pick up property for the purpose of resale.  My personal experience was to buy a Dodge 1500 pick-up truck from a government auction site.  The truck was used with an agriculture grant hosted on the campus of Purdue University.  I was able to purchase the truck for $5,000.00 and flipped it three months later for $8,500.00.  As with any auction be it electronic or on site there are do's and don'ts.  It is not my intent here to cover those.  We will save that for a later date.

Anyone interested in this topic could quickly jump onto Google and search for the topic.  In doing so the search would produce roughly 299 million responses.  What I would like to do with this posting is to cut through the chaff and give you my list of the top five Government Auction sites.

NUMBER 5 - USA.GOV - GOVERNMENT MADE EASY 

This is a great site to direct you to auctions posted through state and local governments and or their agencies.  You will find that the main thrust of this page is towards surplus auctions.  The 5 rating is mainly due to the fact that this page is primarily a resource to the parent page USA.gov.  This page is very useful as well in that it provides information and links to a wide array of government services and departments.  If you were interested in buying land in Arizona this site would lead you to Arizona State Land Department or maybe you are in Oklahoma and looking for a piece of heavy equipment this site would get you to Ok.gov.

NUMBER 4 - US TREASURY 


This is another site that for the most part is a landing page which will take you to the sites of other agencies.  It has five links that will take you to property and vehicles that have been confiscated by the IRS to an auto auction site hosted in conjunction with Homeland Security.  One word of caution here is that no one should expect to get property for a steal.  The urban legends of getting Jeeps for $1.00 just aren't happening these days.  Though a bit limited in its offerings it is a good solid site for finding online government auctions.

NUMBER 3 - SBA - BUYING GOVERNMENT SURPLUS

In all honesty I had initially considered this site for first place.  This site is a tremendous resource for those looking to purchase government surplus.  However, the decision to give a third place ranking was due to the fact that it was merely a landing page that took you to other agencies sites.  However, the one thing I think is quite notable is the link to Consumer Action Handbook as well as to government sales and auctions by agency.

NUMBER 2 - GOVERNMENT LIQUIDATION - A LIQUIDITY SERVICES MARKETPLACE

Now we begin to get to the meat of government auctions.  It is here you can enter in to bidding for everything from Aircraft Parts to Uniforms and Field Gear.  To participate as a bidder you must first Register to become a site member.  This is a great site that offers you a wide range of property.  However, due to its greatness the competition can be rather vigorous.

NUMBER 1 - GSA AUCTIONS - ...A GOVSALES.GOV PARTNER

Folks here we are at my number one government auction site the Mack Daddy of sites is the GSA site.  I'm sure you will find this hard to believe but I am old enough to remember when there was no internet.  Yes and I walked to school and it was uphill both ways.  Any way in those days one could bid on surplus government items but the registration was arduous and auctions were held at various regional sites.  This site has given us full convenient access and opportunity to participate in these auctions.  To participate in the bidding you will first need to register.  Register soon and let the bidding begin.

Auction Associations

While searching the web this morning for useful auction related sites I found The Auctioneer Channel.  This is a multi-page site that is jam packed with great information.  One page in particular really struck my fancy was the Auction Associations page.  Here they have sites such as Livestock Marketing Association, the National Auto Auction Association and the Industrial Auctioneers Association.  This page also lists pages for individual states such as my home states page the Tennessee Auctioneer Association.

I would recommend you check this site out.  There's a great deal of information here and if you're anything like the auction junkie I am you could spend a lot of time browsing this site.

Auctioneer: Margaret Thatcher's suits sell for $116,000 at auction#links

Auctioneer: Margaret Thatcher's suits sell for $116,000 at auction#links

The first shall be last and the last shall be first

How do you lose hundreds of dollars during an auction? Well let me tell you...

 

Several months ago I was sifting through the business section of my local newspaper and found a fitness gym that was going out of business. The advertisement was for an auction company that was holding an absolute auction on the gym's equipment and materials. It looked like a great opportunity to pick up some good bargains so I decided to go.
 
This was an extremely well attended auction. The auction company had done a great job of getting the word out. They had all the equipment sorted and separated and ready for the auction block. There were all sorts in attendance from young to old, professional gym rats to professional professionals. As I often times do when attending an auction of this nature (read - about something I know nothing of) I will watch others. I watch their actions. I watch how they bid, when they bid, how much they bid and as many nuances as I can. After watching several items come and go I try to locate the high middle of the road winner of some of the items. Once located I position myself close by for the next several bid items. This gives me an up close and personal view from their perspective.
 
I had done such with this auction as well. There were one or two whales in attendance and I knew it would do no good to try to pick their brains. I did however try but to no avail. They weren't about handing out secrets to a newbie on this day. But I was able to find an older man who had won several items and seemed knowledgeable on the sport of auctions. I moseyed up to him and in between bid items I would strike up small little conversations. The longer this went on it became he that was sharing tips and tid bits with me. Suddenly I found somewhat, though short lived, of a mentor in the gentleman. During the bidding of one of the four bench press benches he drew near to me and with a glint in his eye he told me, "Never, bid on the first item when there are several items of the same kind! Never!" I felt as though I had been handed the keys to the Holy Grail of Auctions. But then again as more items came and went the tip quickly faded.
 
Having been armed with some insights and some courage I began bidding on items. Like everyone else I won some and lost some. Then the moment for lessons presented itself. As the auction was winding down the big items were now on the block. The one item of particular interest to me were the racks of free weights that were about to be sold. There were seven very similar racks ranging anywhere from 1,000 to 1,200 pounds of weight. I wanted one and I wanted it badly...the thoughts of piecing that baby out and doubling maybe tripling my money was all I could see. As the bidding for the racks began my for the moment mentor had gone to examine other pieces that he had purchased. The bidding began and it began with a fury. The excitement and energy was high. I jumped in and hung on for dear life. Then it happened...a bidding war began. A war between myself and another soon to be fool. We dug in and kept running the bidding up. Finally after all the dust settled I found myself the proud owner of a 1,200 pound $275.00 rack of weights. I was on cloud nine...until I realize that in my eagerness to get one of the racks I had bought the very first set.
 
The next four sets went for $150.00. The sixth set went for $85.00 and the last set went for $50.00. Wow! What a lesson to have to learn the hard way. From my final bid to the last final bid there was a $225.00 spread. That was $225.00 I not only lost but was not going to recoup.
 

What's the lesson? Never, bid on the first item when there are several items of the same kind! Never!

A home coming

After a much longer than anticipated hiatus I am raring and ready to get back to this journey into the world of auctions.  The auctioning world has seen significant changes during my time away.  As if there wasn't enough to write about and explore before we now have a much larger world of electronic auctions to dig into.  I look forward to being back (is that an oxymoron?)!  I look forward to digging in and learning about the new options that are available to us all.

Online Auctions: 10 Secrets You Should Know Before Bidding by: Pradeep Aggarwal

Yes! You know many online auction sites.

'Course you may have participated in some of the biddings.

The next time you decide to bid for a product or a service, do remember these vital online auctions secrets and tips.

1. Important to know the value of the product you plan to bid. Product is new? Check the price retailers are charging for it. It helps in two ways, you'll know the original cost and helps you to pay way less than the retail value, if it is old or re-conditioned.

2. To ensure that you get a good product, get the complete information and picture of the product from merchant, if the details are incomplete on the site.

3. Decide your maximum paying limit and stick to it lest you may end up caught in the 'bid war' and end up paying more than the actual cost.

4. It is always good to check a few auction sites for you may find the same product at a much lesser price in some unpopular sites simple because of the fewer number of buyers in those sites.

5. Make a note of the auction begin and end time. And the shipping time as well. This helps you to calculate the time when you want the product at a certain date.

6. Payments: Check the various payment modes the merchant offers. If checks and money orders are accepted, the delay in delivery will invariably be delayed for the payment has to clear. If the credit cards are accepted, ensure they have secure server.

7. Find out if the merchant offers a warranty or money back guarantee before the bid. Surely you don't want to be bogged down with a non-working or unsatisfactory product.

8. Always good the check the track record of the merchant, if offered one. See if you can bump into any complaints from the past customers.

9. Start your auction early to convey a message to other that you're interested in the product. If someone outbid you, you do the same. Always remember your maximum bid limit.

10. The reason to know the bid time - it helps you place a last minute bid, assuming that other bidders may not have kept track of the bid time

About The Author

Pradeep Aggarwal makes it easy to make online auction profitable and money making business venture. Take the tips and tricks provided by him in the websits - www.auctionspectrum.com.