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eBay: Auction It vs Buy It Now

The eBay Dilemma: Auction It or Buy It Now?

When selling products on eBay, you can choose to set a fixed price with the Buy It Now option or you can start an auction. There is no one clear answer as to which one works best, because it all depends on what you are selling.

3 Reasons for Listing as an Auction

You are selling an in demand product.

If a lot of people are looking for what you are selling or there aren’t a lot of it around, an auction is the way to go. Finding and buying an exclusive piece is more than just shopping, it’s an adventure and customers will be willing to stick around to see how the auction is going. It will add to the thrill and make them want it even more.

You are selling collector’s items such as stamps, vintage furniture, artwork, etc.

These items will likely be sold to be people who know what they are looking for. If you have the right piece, they will be prepared to go the extra mile to get hold of it. An auction is likely to boost your selling price. But make sure you do some research. Is there really a community out there looking for these items? Are other people selling your products or something similar and if so, are they selling well? What are they asking? If you want to sell fast, you could consider setting a fixed, competitive price instead of auctioning.

You are selling products without real value.

Junk, as your mother used to put it, like old video games or a pile of comic books are great for putting on auction. If you feel like you’d be happy to give it away for free, then every bid you get will be a good one. This can help you get rid of your stuff quickly and it gives your page some exposure too.

3 Reasons for Setting a Fixed Price

You are selling multiples of the same item.

You can list all your items in one listing and set a single price. This is easy for you and the customer. They see it, they want it, they buy and done. They know what to expect and you know exactly what your revenue will be.

You are selling something high-priced, but not high in demand.

If you are certain about what your product is worth and you know what you want to get for it, don’t risk auctioning it. Items on eBay are now ‘Good Till Cancelled’ which means they are renewed every 30 days until someone buys them.

You are concerned about time and money.

If you feel nervous about getting enough value for your product, stick to the fixed price format and save yourself the worry. Moreover, customers prefer swift shopping experiences. Time is precious and a lot of costumers are prepared to pay a bit more if that means they can get their item quicker.

Whatever you do, research your product market first. See what others are doing and learn from them.

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