EBay Auctions or Fixed Price Sales: Which Strategy is Better?
When it comes to eBay auctions or fixed price sales, many new sellers are unsure which type of listing strategy is best for them. However, they might be surprised to find out that eBay’s business model has evolved in recent years.
Related Article: How to Choose the Right Listing Format for Your eBay Products
Although originally started using an auction format, nowadays retail selling on eBay is the norm, competing heavily with Amazon who offers the same business model.
Still, there are some instances when an auction listing may be the better choice.
When to consider running an eBay auction
When deciding on eBay auctions or fixed price sales, it’s important to understand when an auction may be more strategic.
Truly rare or highly collectible items, for example, will do better in an auction. The reason is that these types of items are difficult to put a price on. In other words, they don’t have a specific value other than what someone is willing to pay.
And so an auction often gives the seller the chance to sell an item for more than they were hoping.
Auctions are also beneficial for items that have been sitting around for awhile. This is a great way to help you move old stock by, for instance, attracting attention from bargain hunters towards the end of its listing.
Why eBay fixed price sales are preferable
For one thing, your odds of selling are greatly increased because fixed price listings have a much longer duration than auctions, which typically only last from 3 to 10 days.
For another, your listings will show up in Google’s algorithms after about thirty days. So this means you’ll have the opportunity to reach many more potential buyers.
And there are additional benefits. You’ll receive payment for your items faster plus you’ll never be disappointed by how much your products sell for.
Related Article: 3 Easy and Effective Tips for Successfully Selling on eBay
Consequently, when weighing the differences between using eBay auctions or fixed price sales, the more popular strategy is usually fixed price selling.
Remember, buyers these days have a sense of urgency. That is to say, instead of waiting around for an auction to end, they’ll instead rush to Amazon to purchase the same item.
All in all, though, and because each seller is different, experimentation and research is necessary to see what works best for you.
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