Ebay recently introduced a new feature called 1 day listing that is extremely useful for ebay sellers. Contrary to the belief of many sellers, a one day listing can generate far more profits than a long 10 day auction listing.
To understand how to take advantage of this, you first need to understand the mentality of the average buying ebayer. Most buyers visiting ebay are looking for a deal. Once they locate it, they will bid for it and will want to know the result of their bid immediately. If they are the winner of an auction, they want to have the product immediately. Most buyers on ebay usually buy on impulse rather than logic
Therefore as a seller, it is much better to place a one day auction so you can impose a sort of time period on your buyers. Your potential buyers will also realize this and will compel them to take action by bidding and maybe even start a frenzy bidding war!
So when should you offer a 1-day auction?
* You are selling a high volume, low profit margin item
* You are selling time sensitive items such as concert tickets, seminars, movie tickets etc.
* You are selling intangible products such as e-books or software. Since your inventory cost is virtually nil, the more e-books or software you sell, the more profit you make
* If you want to attract buyers doing last minute shopping during the holiday season. Schedule your auction as close to the holiday period as possible.
With these suggestions, I hope it gives you some ideas on how to take advantage of this opportunity ebay has presented to all sellers.
Dan Lim is an avid ebay fanatic who has been quietly earning a comfortable living online. For more ebay selling secrets and strategies, visit bestnzb.com
