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An Overview of Online Auction

Start your auction at a low opening bid price and secure your desired selling with a reserve price. Lower opening bids will encourage more bidders to bid up the price to an amount they are willing to pay.

 For example, I recently listed an older Dell Latitude laptop on eBay and started the price at $0.99 with a reserve price of $150 and successfully sold for $197.50. Coupled with a low opening bid, you want to make sure there are plenty of keywords in the title & description so there will be sufficient traffic to your auction

All Bids is Australia's trusted home of unique online auctions.

A well-written auction would not allow an item to sell for $0.99 since we know the item will sell for much more than that.

When we set a reserve price, it means we do not have to sell the item unless the bidding price meets or exceeds the reserve price. A reserve price ensures the seller of not having to forcefully sell the item if the reserve has not been met, but the seller has the option to do so if desired.

The reserve price set by the seller is not shown to the buyers, in order to encourage bidding up the price to find out what the reserve price is.

An important technique to know is the timing of your auction as to when it closes. The auction should be timed to close during the late evening hours, such as 10-11 pm at night. Research indicates the most ideal time to close an auction and encourage the most bids is Sunday at 11 pm.

Written by Sara William

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