11-25-2006, 11:01 AM
Tips for sellers from Overstock Auctions:
http://forums.auctions.overstock.com/vie...hp?t=15811&sid=a2e358ec17fb9c3971097b807c3f805c
Quote:As we approach the busiest selling weeks of the year, I would like to impart some tips and invite other seasoned sellers to offer their own. Please join in by sharing your own strategies and suggestions. Be sure to avoid discussion and keep your posts relevant to the topic at hand, for the sake of easy reference. (Ill likely remove any posts that are not applicable.) Here are a few to start out with:
Presentation! How likely would you be to walk in to a store which has no outer décor, signage, or indication of whats inside? Much like a brick and mortar retail store, which advertises its name, product, hours of operation, etc. with big, catchy neon signs, your auction "store" is open for business 24/7. Its to your advantage to make it look inviting!
Take the time to flesh out your personal homepage. Adding pictures/logos, along with text to give buyers a brief biography of yourself will give you a human face, adding sincerity and credibility to your profile and listings. A balance of professional presentation and good humor can go a long way in inspiring buyer confidence.
If you are inexperienced with HTML, there are sellers who offer templates which can be used both for your auction listings and homepage. Plugging the term Auction Templates into the search box here on the Auctions site or on Google will provide several options. An attractive template can further help you establish your reputation and brand.
Get Organized, Get Help, Get Going! If you plan on listing more than 50 items at any time, it can become cumbersome to keep on top of the logistics that come with selling, such as creating listings, relisting, monitoring inventory levels, invoicing and accounting, etc. A third party Auction Management Provider can streamline your processes and keep you organized, much like a PDA or personal assistant helps you stay on top of everyday life tasks. There are several third parties who have integrated with Overstock.com Auctions. Their prices and services vary as widely as your own personal needs. It may take a bit of time to set up initially, but the time youll save in the long run is invaluable. With prices ranging from $0.00 to $2,000.00 per month, theres a suitable provider for everyone. See Auction Management Providers on the following page:
http://auctions.overstock.com/cgi-bin/au...AGE=STATIC&PAGENUM=102
Take advantage of Subscription Pricing. O-Subscription Plans provide a thrifty alternative to insertion fees, allowing you to minimize upfront risk and maximize profit margins.
http://auctions.overstock.com/cgi-bin/au...AGE=static&pagenum=17535
Know Your Product and Competition. Research the value of your product and know what your competition is offering for the same item(s). Perform a closed item search (available under advanced search) to see what price range you can expect your item to deliver. Services like www.smartcollector.com are helpful in aggregating this knowledge for you quickly. Knowing your products popularity factor and ASP (Average Selling Price) will be helpful in determining whether to list it in an auction format or a MIM (Make It Mine) format. The auction format works well for items that are in high demand (i.e. collectors items, Tickle Me Elmo, iPod) and are likely to inspire bidding competition. MIM format works better for items that dont move as quickly and would normally sell better in a Store format, or have been shown to sell consistently in the same pre-determined price range. (i.e. Seller X has been consistently selling widget for $36.00, so you decide to offer it with a MIM of $35.50)
Define Yourself. Overstock.com Auctions FAQ pages will answer most questions you may have regarding policies you are expected to uphold by using this site. In supplement to those policies, you should clearly define your personal policies within your auction descriptions. A buyer with too many questions is a buyer who is less likely to bid. Much as you would describe your product completely to make it palatable, you should spell out your policies to inspire bidding confidence. Anticipating and covering potential questions will ensure the buyer has less reason to hesitate in bidding. It will also reduce the amount of time you spend answering questions via email. What is your Payment Policy? What is your Shipping Policy? What is your Return Policy?
Use FREE Subtitles to Maximize Search Exposure. Subtitles are FREE and searchable at Overstock.com Auctions. They provide you with more billboard space to advertise your auction and grab attention. Mention a special promotion (i.e. Free Shipping or Buy One Get One Free) Use as many relevant* keywords as possible to describe your item, ensuring the likelihood your item will appear in keyword search results. Anticipate the ways buyers will search for the item. What words would you use to search for the item yourself, if you were looking to buy one?
*Note: Keywords must be relevant to the item for sale and cannot be abused for the sake of unfairly manipulating search results.
Stagger Your Listings. While the use of subtitles can boost your products exposure in keyword search results, staggering your listings can boost your exposure in browsing results. When browsing listings, they are sorted by default, to ending first. By staggering your listings to end hourly/daily as opposed to a chunk of them listing and ending at the same time, you will maintain a higher chance of being seen, by having auctions continually rolling off throughout the day and week. This is where an Auction Management Provider can come in handy, allowing you to customize your listing schedule.
http://forums.auctions.overstock.com/vie...hp?t=15811&sid=a2e358ec17fb9c3971097b807c3f805c
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