There are three types of listings you can have on Ebay, with the first two types being the most common.
First is the auction: This one is fairly straight forward, plain and simple auction. You set up the auction for a quantity of one item.
You can start the auction at whatever price you choose and you can even choose to have a reserve price on some auctions.
Buyers then bid on the auction and the highest bid at the end of the auction wins.
Secondly is the buy-it-now listing: With Buy It Now listings you can list the product you are selling at a set price. You can have a quantity of just one or a multiple quantity. This method is very good if you are selling information products as you can sell as many as you like all from the one listings.
It is a good idea to list Buy It Now listings for seven or ten day listings. Then if you have a quantity of 25 for example, you may sell all 25 over that ten day period.
Third option is the least used option and is the dutch auction: I have used this a couple of times and with the right products can actually be very profitable. With the dutch auction you must start at a minimum price of 99cents, you can have a quantity of 2 or more. The dutch auction works like this: we’ll have a quantity of 2 as the example, a bid is placed by one bidder say for $2.00 but their highest bid is actually $5.00. With a normal auction it will show $2.00 and when another person bids it will increase until it reaches that persons highest bid of $5.00. With the dutch auction, when the second person bids it may go up to $2.50 so both of them have bids at $2.50. Every time that someone places a bid both bids increase by that amount. So if a third bidder joins and bids, they will need to bid more than at least one of the other bidders, which will then bring the second bidder up to that amount also. So if the third bidders bids $6.50 and outbids the first bidder who’s highest bid was $5.00, both the third and second bidders bids move up to $6.50.
I hope that makes a bit of sense, I never read anything about dutch auctions that made sense to me, it wasn’t until I tried one out that I really worked out what it was all about.
James Penn is an experienced eBay seller & has assisted many eBay sellers to help them make money on eBay in 2007 and for many years to come. Discover many of his other eBay selling tips that will help explode your eBay sales & grab a selection of free eBay eBooks by signing up to his free eBay newsletter.
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