subject: How to maximise profit on Ebay by starting price of £1 [print this page] Do you remember house4apound.com? Do you remember house4apound.com?
Basically, this lady couldn't sell her house for toffee and decided to auction it on the internet.
She created a website called house4apound.com' and promoted her site in any place she could. She appeared on the news. She was interviewed all over the place. She inserted press releases in every popular publication.
Her offer was that for just one pound, people could enter a competition to name her house. And if they won, they won her house!
I think she took triple the house price in entries!
"1 for a house! I'll have a waz at that!" everyone said.
I mean, imagine what you could say to the neighbours!!
"You paid how MUCH??!!! Gosh. This place was only a quid!"
So for auctions, 1 gets people bidding. If people see that other people are bidding then they are more likely to bid. Which creates more bidders. More bidders who are fighting to win the item.
Obviously, the house4apound lady took a bit of a risk which paid off
she did actually have a set minimum (Reserve price in eBay talk) but it didn't matter because who can resist chucking 1 away for the chance of owning a house? You can find more than that down the back of the sofa!
That's why you set your starting price at 1. The other reason is that eBay charge you a percentage of the starting price so it's cheaper.
More on charges later
Choose a 10 day Duration'
You sort of know already why this is so. It's so you get two full Sunday viewings BUT you ALSO get a few bidders BEFORE the FIRST Sunday viewing.
So for the second Sunday viewing you have a huge bidding war going on.
This also holds true for buy it now' items. However
For buy it now items, UNLESS you normally sell loads, you should ONLY get one Sunday viewing.) You can also slip' one in to begin on a Sunday morning.
Here are the days from most sales,to least, for buy it now' items
1. Thursday 23:45 (The most profitable because it finishes exactly at the right time with the listing high up in the search results.)
2. Friday 23:45 (Your buy it now item will be seen by quite a few people on two Sundays but they have to go a bit further to find it.)
3. Saturday 23:45 (Not as good as Friday because you're missing the Saturday night crowd.)
4. Sunday 07:00 (Not real good but much better that starting on a Monday, Tuesday or Wednesday)
Obviously, you would list on every single day of the week if it's profitable. start the listing on a Thursday, Friday or Saturday at 23:45 so you get two Sunday viewings. (Monday, Tuesday and Wednesday listings only get one Sunday viewing.) You can also slip' one in to begin Starting
How to maximise profit on Ebay by starting price of 1
