When you are selling items on eBay, you are presented with two options: auction vs buy it now.
If you are a new seller, you may immediately opt for auction because that is what eBay is known for.
We have been selling on eBay for a little over 6 months and have experimented between auctions and buy it now to learn what achieves the best results for us.
Below are some of the things we have discovered.
Auctions Can Get More Action
Ebay is known for their auctions. It is a fun experience to bid on an item you really want and win it at a great price.
This is why listing your items for auction can generate a lot of action. You can start your auction at 3, 5, 7, or 10 days. There are fees associated with certain durations.
However, I’ve noticed that there is no fee for having your auctions last 5 or 7 days. As your auction draws closer to an end, they rise higher up in eBay’s search results.
The price at which you set your auction also determines how much action you can get. I have read that starting auctions at 0.99 cents is a great way to encourage bidding.
However, depending on your item, you may not want to risk letting it go for 0.99 cents if only one person bids.
I recommend setting your bidding at the minimum price you’re willing to sell it for. Otherwise, you could let go of a somewhat valuable item at much too low of a price.
You Can Set Your Price with Buy It Now
If you are patient and willing to wait a bit longer for your items to sell, then buy it now is a better option to sell your items at the price you want.
You still need to be competitive in your pricing but you’ll have a better chance at selling your items for exactly what you want.
The difference between auctions and buy it now is that you are competing not only with other sellers but also with appearing in eBay’s search results.
Top Rated sellers tend to show higher in the search results than everyone else.
You can improve your presence by using good keywords in your item titles, filling out all relevant information about each item (size, color, material, etc.), and offering free shipping.
Offering free shipping helps your items list higher in eBay’s search results.
Auctions Are Great for Moving Inventory
If you plan on selling on eBay long-term or already are, you may end up with some inventory that seems to take a long time to sell.
It happens and as any business owner knows, it’s important to keep inventory moving. Auctions are great for this purpose.
When you need to move inventory, set your items to auction at a low price. They are likely to sell and at least let you make back what you originally purchased them for.
Utilize Both Auction VS Buy It Now
In the end, there is really no clear winner for us. We utilize both auctions and buy it now on our items.
I think auctions are great for moving stale inventory or for selling rare and unique items at a much higher price.
If your items are common, buy it now may be a better option. Try both and see how each works out for you.
Have you had any experience with auction vs buy it now on eBay? Share in the comments below. Thanks!
Make Money in Addition to eBay
If you are already selling on eBay then it is likely that you enjoy selling online to earn extra income.
In addition to selling on eBay, we also earn extra income using Affiliate Marketing. Affiliate Marketing is simply promoting other company’s products for a share of the sale when a product is sold.
A great example of this is Amazon.com’s affiliate marketing program. Once you are accepted into Amazon’s affiliate program you can promote any of the products on their website.
Those are a lot of products! The best part is you do not have to deal with shipping or customer service. When a shopper clicks on one of your affiliate links and makes a purchase, you earn a commission!
Those commissions can add up quickly when you have a website that is getting a lot of traffic.