HomeAlthough the world of online auction sites is filled with opportunities for sellers to make decent money, there are a lot of new auctioneers that simply fail to reel in the bids. For those that do manage to get some bids and conclude a transaction or two, they are surprised when they receive negative feedback and then cannot seem to find anyone to bid on their products again. Here are some useful tips to help you make money using online auction sites.
Promote Your Auction
Just because you list an item on an auction site that does not mean that you cannot promote your auction in other venues. If you have your own website, do not hesitate to use it as a marketing tool. Create a link to the auction on your website-you just might be surprised by the result.
If you are a person that sends and receives a lot of e-mail, why not create a link at the bottom of your e-mail so that each and every time you click the "send" button, you are also doing a little advertising in the process. Again, you just might be surprised by the result.
Timing is Everything
Deciding on when to end bidding is actually a lot more critical than people tend to think. The day of the week and the time of day when bidding ends on auction sites are both important factors.
The optimal duration for bidding is ten days and you want to be sure to spread those days over two complete weekends. This way, you have the best chances for exposure because people tend to use the Internet for personal shopping primarily on weekends.
Now, for deciding on precisely when to end the bidding, you must consider who is most likely to buy the item being sold. For instance, if the product is most likely to be purchased by a retiree or stay at home mom, then try ending bidding in the early morning.
If you are selling cd's or things most likely to be purchased by youths or even young adults, then do not end your bidding on a Friday or Saturday night. You are trying to end the bidding on auction sites when the people who are most likely to buy your product will be online.
If you are not sure who is most likely to buy your product, the best time to end bidding is early Sunday evening.
Not only do you have to think about the time of week and the part of the day to end your bidding, you also must consider the time of year as well when auction selling via the Internet. High priced items are best saved for the hot season which comes in winter. Move all of your lower priced goods during the summer months when things are usually pretty slow anyway.
Promoting your auction in places other than the auction sites themselves and making sure to take timing into account will improve your chances for landing bids and ultimately making the most money. Online auctions require a lot of hard work, dedication, and research on the part of sellers if they really want to make any money.
About the author: Jason James is an eBay PowerSeller and his website "Auction Resource Network" reveals his inside secrets, tips, and sources that help him earn $10,000+ a month on eBay. Claim your FREE e-Course Here: http://www.auctionre sourcenetwork.com
