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Antiques! => EBay Forum => Topic started by: syl on March 04, 2010, 06:47:38 pm
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I'm new to selling on ebay and just wanted to ask for some advice from those with more experience. First have you seen a drop in bidding and lower prices since this recession started? And what is the best strategy for setting a reserve? Some people say to have no reserve but that sounds risky. Should you set a reserve at the lowest amount you would accept? Thanks for any thoughts. By the way, I've tried to sell some things on Craigslist and you can't believe the scammers that come out of the woodwork. They want to send me a 'certified' check for more than I'm asking and want me to mail them the item as soon as I get the check. Right! Seller beware!
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I would think a starting price to cover your item's cost to you rather than a reserve would be better as long as it is not ridiculously high. Many bidders will not even look at an item if there is a reserve. After all, a reserve is nothing more than a hidden, actual starting price. Another thing to look at is the listing fee to you and the various price points to start at.
Ebay's selling fees are constantly changing and the new ones actually raises their commission by a good %. Check out this link...http://www.auctionbytes.com/cab/abn/y04/m01/i05/s01
I have alot of stuff to sell but have been waiting for an alternative auction site. I have not found one so I am going to have to bite the bullet and feed the eBay monster also, recession or no recession.
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I agree with Wayward First and foremost is cover your cost, assure yourself you are making something on the item first. Next you must be concerned with setting a realistic price to compete with the other sellers. If this means setting your price lower then your profit margin can handle, then the choice is yours with a risk. What you have to offer can of course mean alot in this game. If you have nice rare collectible stuff, you will win.
I have been selling over the past year, between Ebay, My online store, and Flea Market. I have managed to sell about 300 items, but my game is one of knowledge and just trying to make the hobby pay for itself. When it comes to Ebay, things can really get tricky to stay on top. If you need to get $20.00 back to break even, remember the fees, you will need $22.00 to cover the fees. 10% Rule usually will cover that. Then watch out for shipping, this can be what will make or break a good deal. Shipping is expensive, and many times will tip the scale on the worth of the item. i.e. hard to sell a 2 dollar item with $9.00 shipping cost. Then the thing the customer hates and really haves a hard to understanding. Takes a 2 bucks to pack a item safe, and 15 mins if you are set up, thats 12 bucks in labor for you accountant types, of course you never seem to be able to get that. Unless you have something really special to offer.
Each time I have used Ebay, (4 dumps so far) I try something different, and I keep every thing well logged. I could almost write a chapter or two already. I will spare you all of this, cause I have notice that my ramblings has gotten to the bottom of the box, and If you are one of the rare that has made it this far ::) Thanks for reading more of my pshyco babble, actually maybe I will add more later, but I really need to get back to life tonight.
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I, for one, would like to hear the one or two chapters as I think you have a lot of good advice to give from actual experience. What is the best day and time to list as I have heard Sunday evening is the best? Ramble on... We love it.
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As for timing, This last time I spent all week posting a few a day, posted 116, and sold 19 of those items, with only one challage bid that did good, The time before that I posted 100 items ending Sat and Sunday, sold 21 and had three good challage bid. This week I have about 150 ready for posting I will only start them to end Sunday, see what the % will do. As a side note this last time I actually faired a bit better profit wise. Got a great shipping menthod figured out I and actually made enough through shipping profit to cover the fees. Then I have got a few more better item now. Keep in mind I only buy things under $3.00 and usually don't make more then a few bucks in profit. Not ready for the big stuff yet, until I get my ducks in a row. Then maybe I move into spenting 20 bucks and see if I can make $$.00. I figure by the time I retire I will be able to keep my self a float, beside this is fun ;D
I should also add is the reason I do this is to make the hobby pay for my knowledge. I buy a item, log, take pictures, Spend at least 1 hr. trying to figure out what it is and how much it is worth. Then write my Tags and Description, and move on to the next. Of course checking out this forum in between ;). With a log, Files, and thumbnails I have a reference tool to help me learn and understand the value. Yes I'm a bit crazy, want my secret value formula ;).
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Ironlord, I have some questions. What is a "challage" bid (or is it challenge bid)? I do not know what that is. Is that on ebay or some other site? If I read right, you are posting over 100 hundred items but 80 or more do not sell? What happens with the ones that do not sell? Are they relisted? Are you tracking what sells and what doesn't so you know what to buy (and for how much) for future purchases? Listing over 100 hundred items seems like a lot to me and selling 20 and shipping them must take some time. How do you manage this and still do your full time job? I have sold a few things on ebay awhile ago (like 2 years) and as I am not a fast typer (2 fingers), I found it took me time to list and especially pack and ship. I could not imagine doing 20 a day with other things going on. What is your secret value formula if you want to divulge it? I must need a course in time management because I do not think I could put up the numbers you are doing. I find it hard to stay on track because I have too many varied interests. AADD I think -self diagnosed.
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Sorry I make up stupid terms now and then, yes and mispell sometimes, now time for spell check :D Challenge bid when you have at least 3 bids. Two bid is just someone willing to pay more. but then the third is a challenge. Actually my sale percent is around 12% to 15%, 80 would be a great "dump". ( Dump being when I go back through my old files and relist, and enter my new processed ones. I will be doing a Cheap dump this weekend, Saturday around 12 pm Western Time, I will begin with relisting items that didn't sale last run, drop the price on some and etc, Post for about 4 hr's as much as I can and then again on Sunday, this time adding any new items that has been Processed.
As for time well let me say I am way behind schedule with at least 50 boxes of stuff to go through, and still can't stop going to thrift shop, sales and etc, adding more. But no rush if all in the world stays together in 20 years at retirement, I should be O.k. Not that I'm not trying to find the early retirement program, shooting for replacing my day job in 2 years. ;D. Actually let me go take a few pics of my area just for kicks and grins. I'll be back ;)
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O.k. Welcome to a piece of my little world. I have enclosed for your entertainment a few pics of what I'm doing. This of course may ruin my reputation on this site, but the risk should be worth it. :P. The first pic is of my photo area. Get a area set up just to take the pics, try and get as much light a possible, I use photo white balanced bulbs, but any light will do. Enough so you can get good hand held shots quick and easy. Marco lens alway a bonus, but most important is a area. The next three are my WIP shelves, these are the items that is getting ready for the next dump. They work their way down and then after a couple relist at most the go into the tub for Market or rummage sale. Have a area just to prep your items. Then I have a big work table, to pack and prep up each item.
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O.k. how far am I behind, well here is three pics of all the boxes of stuff still have to go through. These need to be processed to be ready for poating. I'm betting about 1500 items still to go, This of course not including my hundred and hundred of silverware (silverplate) that is a story in and of itself
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Ironlord, thanks for the clarifications, I now get what a challenge bid is. I just never heard it used before. I think eBay is the reason 'we' buy so much stuff at sales. If eBay was not around, would 'we' accumulate all this stuff anyway? Or has it become the excuse 'we' need to buy and buy and buy? I retired a year ago March and my wife is still wondering WHEN I am going to start selling some of this stuff. I have to start or my room will end up on Hoarders or something. At least I do not have any rotting food in with all the goodies.
I hope syl is getting some answers from all this. I would like to hear from other forum users about eBay or other sites as a selling venue. I was just searching my local craigslist for sleepers tonight but did not find much. One I have to follow up on tomorrow. Everyone says we are in a recession but there is no shortage of money or bids at any auction, estate sale, rummage/garage sales I have been to for the last year. I am not sure about eBay but I think the good stuff still holds up well but the more common stuff has dropped in price. I just hope I have the good stuff when I sell (soon).
Do you type your descriptions in Word or another program and then cut/copy to your eBay listings or do you find it just as easy to describe everything right in eBay's listing pages? I often wonder how some of the sellers can use so much copy describing all their shipping/policies, etc. and spend so little copy describing what they are selling. Some items are a picture only and no returns. It seems they must be copying some of it from a word processing program as I do not think they would re-type it for every item.
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I like your photo set-up. That looks simple enough to do. I will have to get a similar dedicated photo space. You do have stuff but your method seems to keep it organized. Nice cube shelves to separate items with. Thanks for sharing.
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Yes I copy and paste everything, from files I have made. Let me see If I can describe my method of processing.
1. Take pics - Here I take at least 4 qick pics. Sometimes a few more when necesssary
2. I then start by making notes on my Cue card. This is a index card that I write information on. This is a very important tool later on.
3. Make sure you weigh and measure the item. Measure is for description and weight is important in figuring out shipping cost.
4. Then the item is placed on the shelf for processing, Usually I do about a dozen or so items like this before the comfort of the computer chair.
5. Now at the computer the first thing is make a folder for each item. Title it something for reference of course. I use something like "Plat Lun Gla 002"
This stands for Plate, Luncheon, Glass, 002 being the second one I had made. Make sure you write this file name on the Cue card.
6. Now I open the photo up for Crop and shrink. I will quickly Crop the photo when necessary, and most important is make another set of photo that
will be used for web, don't want to use those high res ones. I save these in the same folder, but these change the title i.e. "Plat Lun Gla 0021 ,2,
and etc. the last number being pic 1 2 and etc.
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Thank you Wayward and Ironlord, I am learning some things. When you list Ironlord, do you put a reserve on your items? I recently listed a collector plate and a Spode platter with no reserve. The platter didn't sell and the collector plate, which was nice but not worth a whole lot, sold for 99 cents. I charged $12 for shipping and used a flat rate box so I pretty much broke even. But if you have something that you know is worth considerably more, say $100-$500, you wouldn't list that with no reserve would you? And good pictures and descriptions are a must. Correct me if I'm wrong but I think you can list up to 5 items in 30 days for free. Sounds like Ironlord blasts through that in about 15 minutes. Anyway, thanks for the help and I'm also looking for alternatives.
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7. Here also you want to make sure you also in another file save a thumbnail. In a folder save the 1st overall good pic with the title being the same as
the item. This is your thumbnail, small pic of the items, so when you need to find the item by visual, needing to see the item, you can find the file
name, cue card, and even in which box it is in.
8. Next in the same file as the product pic, open a text Doc. page. Here is where you write first your Tags (Plate, Luncheon, Johnsons and Sons, Royal impressions, and etc). Tags are very important for customer finding your item. Ebay has a 50 letter limit, but write as many as possible.
9. Research - Now spend a little time looking around for more info - Don't get caught up in over a hour (unless it is worth It). First take your Tags and copy and paste this to the ebay search engine. Note this is a good test of your tag, see what comes up, note the number and values, maybe consider changing tags to get better result. Then poke around the net for a few minutes
10. Write description now in the text file of the item write the description of the item, with what you now know, don't forget to write down the measurement and weight of the item.
11. Now the Log. Create a log just a simple spread sheet with title, tags and location (which box it is in) price paid and what ever else you wish. Mine is a complex thing that woulul take a chapter on it .
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Syl no I don't put a reserve on any items yet. Keep in mind that thus far most of my items would be lucky to get $20.00, if it was worth that I would give myself a year more of experience then maybe on Ebay, Most likely that would be saved for the flea market. As for the 5 items for free, yes but not after the 30th, that deal changes. After the 30th you can list .99 start price auctions for free. Up to 100 a month. Boy will I cash in on this one.
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12. Now that I have my files, pic decription and cue cards ready. Posting your items. I have a online store that I post my item at first. This site has no charge other then a monthly fee, and can still sell somewhere else, just mark it sold. Bascaially your are ready to dump. Use your pics and descriptions from your product folder. Copy and paste is your friend.
13. Keep the cue card at your desk, write down post dates, price and etc. Also note number of hits and watchers on this card, this has clues to how good your tag and how big the collector base is.
14. If it didn't sell not a problem. you do get to relist your item and if it sells you won't be charged for insertion fees. Also remember it stays in your unsold folder on Ebay for 60 days, So make sure you repost or re repost your item before that. That will save you lots of steps.
15. However most important is the information gathered, from this. I know can walk into a thrift shop and spot a quality Anchor Hocking jar, sellling for .99 cents that someone will pay 5.00 + shipping to have, and after all the effort, it seems to pay for itself, but this is just my sophmore year of this I will be able to tell you maybe in a couple of years about that reserve question on those items that are worth $$$.00
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Good tips ironlord. I am going to try them and modify it to what works for me. Thanks for sharing.
I think selling by auction (any auction, not just eBay) is a crapshoot. Some sells as expected, some doesn't sell, some goes lower, and some sells higher. One has to look at the whole end result and not dwell on one item that did not sell for what one expected. An auction is a snapshot in time for what buyers are willing to pay at that time only. An auction with the same item at a later or earlier date may have different bidders willing to pay more (or less).
I am just looking to break even and possibly earn enough to cover the items I want to keep for my own collection or use. The problem is I am interested in a wide variety of collectibles/antiques and find it hard to specialize in one or two areas.
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Yea Win some and Lose some, just try and win more then lose. I have carefully log my stuff and have only made just over $400.00 in profit, not much but have learned alot. In my last run I made 25% of that, so what I have come up with seems to be working, just have to raise the quality of the items and then the $$.00 should go up. As for Specializing, That will come for me, but with this and the help of this site, I will hopefully develope a good rounded knowledge base, then something will really stick. Thus far I have gone through the Silverplate, Glassware, Depression Ware areas, Seem that I really have gotten to love Glassware, esp. Depression pink, who knows next year. ;D
The important thing is find a system that works, improve it, and share it. Then maybe someone will improve it better and share it back. In other words please share your own system, maybe it will work even better. ;D
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Very organized and well done Ironlord.
I agree with no reserves and dislike them because I feel they waste a buyer's time with senseless guessing.
You bid and bid trying to break through that barrier and lose some focus on what you feel the item is actually worth.
I say put it on for the minimum price that your willing to take, especially since you get 5 listings a month for free (I save these for the priciest items listed).
As far as days to end a auction I thought Sunday nights would be ideal but am learning that Monday or Tuesday nights get the best results for me (surprisingly).
Ive also found that if my auction ends on a nice day weather wise many people go out and they won't be home to bid. On the other hand if it's a rainy day it seems there is way more activity.JMO
Someone even made a suggestion toward gearing high end auctions around the time people are getting income tax refunds.Made some sense to me.
Interesting and useful thread. Great to hear everyone's experiences with this topic.
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Good for you , Dean !
Tracking weather & day-of-the-week is a time-honored business practice & very worthwhile IMO .
Turning a profit & learning is great stuff too , ironlord1963 !
Always enjoy you fellers' posts .
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OMG has this discussion been helpful for me.
Thanks to you all especially you, Ironlord.
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This discussion has been very helpful and interesting. I'm going to try a new strategy. I'm going to set a starting price that includes shipping, insurance and profit and see what happens. If it sells, great. If not, haven't lost anything. Thanks for the help. Keep up the good work Ironlord.
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Hi, I never use a reserve, I just set the starting price for the least I will take (consider the shipping cost), if it doesn't sell I relist it abit lower, most of the time it ends up selling for more than I had orginally post it ;D I never bid on reserve auctions either, takes the fun out it :'(. Alot of sellers use a reserve so their HIGH price doesn't scare buyer off and they can see what people were willing to pay for it. Thats just an extra unneeded expense to me :-\
I never do Buy It Now either, I research on Ebay what the Item I'm selling is selling for NOT the BUY IT NOWS only actual bids. Example: I sold my Moms Madam Alexander Sonja H doll from 1930s for her. I checked Ebay and there were a few similiar to it priced high $495-$700 they never sold. But Moms had several extra clothes and looked better. Other M Alexander dolls sold for $50 - $200 so I started the price at $69.99 and even apologized for the high starting price :P. There was a BIG bidding war on the last day and the doll sold for $866.00 :o when I asked the buyer if it was the other clothes she replyed "No I don't care about the clothes, I love/collect things from the 1930s and your doll is in such great condition with beautiful eyes, the best I've seen" ;D
An item is only worth what someone is willing to pay for it IMO, if you have a sentimental attachment to an item of course it s worth more to you but to someone else it's only an object they 're willing to pay $?? for! If I had set a Buy It Now for $300.00 (what we were told it was worth) I wouldn't have the other $566.00 would I?! :-\ Buyers have thanked me for staying Auction style, they/myself like the fun of winning an auction and getting it for less than i could have somewhere else :D. I myself skip over Buy it nows unless it's for shipping supplies or it's a.."OMG WHAT A DEAL!"
Alot of the buy it nows i see are extremely over priced and I don't why?! :-[ I'm always wondering "Do they even research what its worth/selling for? or don't they realize other people are selling the same exact thing for 80% less of what they are asking? ???
Oh cr@p rambled again sorry :-X
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Blonde1, you seem to be doing everything right because you are making money. I agree with your starting points on items and letting everything ride to the end on an auction. I see 'Buy it Now' only for selling items fast at an established price point. In other words, if 20 items identical to yours have sold for $20-35, you could list yours at $15 or so and expect a quick sale without waiting for an auction to run its course. That is the only reason I see to list as a 'Buy it Now'. I also see way too many items listed at a too high starting point and gathering no interest. Just like an 'in person' auction, there must be interest to get bidders involved and the only way to start is with a low enough price to get at least 2 bidders interested in competing against one another.
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This may be a dumb question but what is the difference in a reserve and setting the lowest price you will accept?
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Reserve Hides the price, so you do know what the lowest they will accept is, it also makes it so you can set the price real low attracting buyers. Then you find yourself bidding in vain unless you cross the reserve price. At least if you set your price with no reserve the buyer can evaluate if it is worth the price you have set. All in All it is no difference then a reserve at a Auction house. I personnally would not bid on something with a reserve, based on I like to know what the seller is expecting.
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This may be a dumb question but what is the difference in a reserve and setting the lowest price you will accept?
I think Dean Perdue said it best :-*"I agree with no reserves and dislike them because I feel they waste a buyer's time with senseless guessing.
You bid and bid trying to break through that barrier and lose some focus on what you feel the item is actually worth." or Ironlords "Reserve Hides the price, so you do not know what the lowest they will accept is, it also makes it so you can set the price real low attracting buyers. Then you find yourself bidding in vain unless you cross the reserve price."
It IS a waste of time, however, Waywardangler made a good point on the speed of Buy it now "I see 'Buy it Now' only for selling items fast at an established price point. In other words, if 20 items identical to yours have sold for $20-35, you could list yours at $15 or so and expect a quick sale without waiting for an auction to run its course." 8) If an item didn't sell and a buyer emails that he miss it could he buy it, I relist it for 1 day with buy it now, the buyer usually pays right away. ;)
I start most of my auctions at .99 (like a mass produced item), it's free and usually it sells for alot more. If it's an item I don't want to take the chance of selling for .99, I price it higher ;)
Oh, and most people are not stupid, so don't try to get more money by charging more for postage :-[. I use calculated shipping only, I add .25 cents for the .19 delivery confirmation and the .07 is put for supplies. It auto matically calculates from zip to zip 8).
I'm a top rated & power seller, I price to sell, if something it worth more to ME I try it at higher start price, if no bids oh well, but I will NOT waste someones time guessing my price!!!! ;D I make more on Ebay than my full time job but there is no medical insurance with Ebay :( YET! ;)
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I agree Blonde1 on the outrageous postage some sellers charge. I do not bid on items if it is a very light item and they want $8-10 for shipping. eBay was supposed to correct the high postage fees but I do not think they are there yet. Also some sellers bury their handling fees in the postage and $1-2 isn't bad but above that is questionable. I have run into the same problems with retail online stores. I wanted to order 3 cabinet knobs to match the ones we already have. The shipping/hdlg was as much as the cost of the 3 knobs so I shopped around and found free shipping with Home Depot.
I have used a start price on eBay with shipping/del. conf. figured in and listed as free shipping. I do not know if it made a difference in the final bids but I did real well. I think free shipping puts the listing in the top of the listings or something.
I do not like reserves either. I want to know the item is really for sale and not an owner just trying to get an easy appraisal and has no intention of selling it.
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I have to second that opinion on the shipping charges of some sellers. Right now I'm trying to grab a safety razor for hubby. Wants to go
back to the good ol' real shave. I'm totally appalled by the sight of $20+ for shipping a friggin razor. There is no way they can justify that
amount especially with the prices those razors are commanding. As far as I'm concerned once the shipping gets over $7-8 I just pass it by.
Now if everyone looking for a razor would just go to sleep for a couple of hours maybe I could actually get one. ::)
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Ok, I get it now. I didn't know the reserve price was unknown. I was thinking it was like a real auction where the reserve, or the lowest price that will be accepted, was known by everyone. Thanks for that info.
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Nice thread ya'll. I agree...don't like a reserve. Like to know what their bottom line is up front!
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I sold on ebay for over 10 years so I'll put my two cents in.
First of all, you are at a disadvantage as a new seller. Your items will not show up as well in the searches unless you have something very, very unique. This is especially true if your items vary in category.
For this reason alone, you face the risk of starting something out cheaper than you ought to and getting on one sniped bid at the end. Think about Buy it Now to build up some credibility and gain feedback. Make sure you offer great customer service and fast shipping, communication etc.
Look around at what other people are selling their items for and stay close to that. Once you keep good feedback and list lots of products you can think about starting your items off lower and watching them go up. If you do put a reserve, make it reasonable, and let everyone know what it is. No one wants hidden reserves and to waste their time bidding on something they can't afford.