THE BUYER
The eBay buyer wants exactly the same experience we all want when buying. They want the product as advertised
for the best price possible.
The eBay buyer, demographically speaking, is affluent and passionate about their collecting. Many shop
on eBay due to living in remote areas or just for the hope of acquiring items at a good value. For many, eBay is a community
and social network as well. These are reasons people come to eBay, so, what makes them stay?
I look at a buyer with 2000 feedbacks and think to myself that I haven't bought 2000 of anything
(including food items) in the last year. Many times I will notice realized eBay prices greater than the exact same item
on fixed price websites. Why did they buy it on eBay?
The holding power of eBay is the auction process itself. People love it!
To the collector that shops on eBay, the object of their desire has a quantity and a value. This value
tends to be consistent and predictable. If we put a bar of gold on eBay and start the auction at $1, it will sell for the
price of gold plus the premium of the bar. The same goes for a $50 figurine.
A classic example of this in our business is a client who hoped for $100 for a vase. They wanted to start the auction
at $95. I listed it per their request and there were zero bids for the entire week of the auction. I broke the news to them and
they decided to re-list the item with a starting price of $9.99. The second auction realized $118. By adapting to the psychology
of the eBay buyer, our client ended up with $18 more than their original goal.
I understand this can be very hard for some people. We work with you in various ways to explain and
demonstrate the benefits of creating excitement around your piece. I recently started a Tiffany flatware set at $1. The client was extremely nervous
to say the least.
I asked them if I provided a written guarantee for $2000 in their pocket if that would help alleviate the anxiety. They took me up on the
offer. The auction realized $4150 and they ended up with over $3000.
By offering items at $1 opening bids we build a beneficial excitement and frenzy around the item.
A number of people will bid on it in the initial stages of the auction even though they know their bid will not win in the end.
That makes others curious as to why so many bids have been placed on this item, which in turn draws them to the auction.
They bookmark the auction
and follow along in hopes of getting a good price at auction close. If we had started the Tiffany auction at $3500 many people would never have even
looked at it, thus resulting in less bidding and excitement. It most likely would have sold for less as a result.
Do we do this with every item? NO. We research and analyze the sale of each item individually. We consult with you
and create a mutual plan to put the most amount of money possible in your pocket.
VIEW ALL OF OUR CURRENT AUCTIONS HERE
