When to Use Buy it Now vs. Auctions on eBay
ฝัง
- เผยแพร่เมื่อ 4 ต.ค. 2024
- Every time I fire up eBay to check comps I see sellers making the same mistake over and over again, and they're losing a ton of money. How can it be that in 2023 so many sellers are still using auctions? In this video I talk about why you should almost never use auctions and instead you should almost always use fixed price listings called Buy it Now. I also discuss when it DOES make sense to use an auction, because sometimes that is the best choice.
Jump ahead:
4:06 Why you should not use auctions in most cases
6:22 When it makes sense to use an auction
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Related video: How I sold $82,640.32 part-time on eBay last year • How I sold $82,640.32 ...
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80%+ of all ebay sales are BUY IT NOW. not auctions.. GREAT video
thanks Casey!
I am about 50/50 in my store. I like auctions for many reasons but this is a big one: I set all auctions to end on Saturday. This allows me to print labels on Sunday and schedule one USPS pickup for Monday. As someone who works a 9 to 5, it is great to be able to do all of the shipping activity on one day.
that’s interesting! thank you for sharing
Why would you end on Saturday people are out end it on Sunday at night every one's home killing time till bed time
@@randymoran67 Smartphones. They can bid any time before Saturday and put final bids in while they are out with a few clicks.
I don't get sensory overload with your Vids , which is great because I can actually hear what you're saying and take it in , your calmness makes you a great teacher . Love your work .
Glad it is helpful and thank you for the kind words!
Wow just found you! After watching over 100 youtube vids from other people, I have learned so much more from just 4 videos you have published. I am disabled and a senior facing having to live on 1/3 or less than our previous income! We thought Ebay was the best choice but learning all of the ins and outs on how to be successful on Ebay can be daunting. You have make it all seem easy. Thank You!!!
Thank you for the kind words, Vivian!
Not sure your background, but your videos reek of “high quality educator”! As a retired teacher, I tend to look for videos that can maintain my attention, which to me means variety within the presentation. Good job! Please keep continuing with such quality content (not just what solds) and your channel will just grow bigger and bigger! Blessings for future growth in your business!
I had the same thought as I too was a teacher.
Thank you for the kind words! I don’t have a background in education. I work in tech, building digital products for journalists.
@@justinresells Wow...well you have a natural gift then. Will be watching :)
Great Video!! I found you from Hairy Tornado. I have only done 2 auctions and start my auctions at the minimum price I am willing to accept! PING Driver pristine condition - started at $175 and sold for $225. The best was an original DAM Troll Doll. I started it at $200 and sold it on auction for $405. I'm now catching up on all your videos. You are awesome for our community!
This video was SO useful. I’ve been selling my own household items ad hoc since 2009 and never once thought about just offering a Buy It Now price, I’ve always done auctions. After watching this video few days ago, I had almost instant results when I switched the pricing of some old Corsair PSU motherboard cables from auction (£0.99 starting price) to £7.99 Buy It Now price. Someone offered £5.00 today plus £1.99 shipping, and they paid immediately after I accepted the offer. This video is a game-changer. THANK YOU!
This really grinds my gears! When listing an item, ebay's default is to sell the item as an auction. It's so annoying!
the number of listings where I didnt catch that cause I was going too fast and then have to end listing and sell similar is sooooooo annoying!
Make templates.
Make yourself some templates, it'll keep your choice of Buy It Now or whatever you want...and if you've got information like basic details stored that saves time too...jus' sayin'...
I've heard templates are a waste of time, "sell similar" even off of your own listings is faster, the auction default is annoying but takes seconds to change
It literally takes like 1 second to click the button to switch it to buy it now when listing the price, relax lol
Good info for sure. Amazing that last week you were at 1k and now you are over 4.5k subs! Congratulations 🎉 👏
thanks! and you were one of my earlier subscribers :)
I love to use auctions to get rid of my “death pile” where i typically set the starting bid and postage fee to the lowest I will accept for the item. That way if it turns into a bidding war that’s a + but if it has a keen buyer they get a good deal and I almost always break even or turn a small profit.
As someone else mentioned it’s a great way to organise multiple listing to end on the same day. I typically do 7 day auctions which will end Sunday evening. I like going into the start of the week with a batch of solds especially ones that have been hard to shift
Great tips, thank you for sharing!
Totally agree. Almost every auction I’ve tried I’ve regretted.
I did too based on eBays suggestions. Wrong move. Lost about 40 USD. Because I'm a newbie
I've been selling on ebay for 23 years. I have not done an auction for many years. I just don't sell items that get enough active interest to hold auctions. My last auction was a new with tag leather coat. Started at 99 cents. Sold it for 99 cents, and lost money on the shipping too. I also hated dead beat, slow and no pay buyers. So now it's all buy it now, immediate payment required.
I literally just snapped myself out of this. Auctions are the devil, and what’s worse these bums always trying to lowball you..
I’m glad I ran into this video
Great video, the main pain point to auctions is the lack of payment. 👍🏻
What's up Big Justin. Ok, so your now my go to guy for fascinating tutorials for e-Comm. I learn so much, so quickly. Lov the detailed illustrations, and real-time examples. Absolutely persuasive. I'm always left with that deep abiding conviction in my gut, coupled with TONS OF AH HA moments. I feel like I've stumbled upon the real e-Comm Prophet/ Professor. THANKS SO MUCH. Keep preaching the Gospel of e-Comm my brother. The second you pen a book/manuscript, I'll be at the front of the line for my signed copy. Your an awesome teacher.
thank you for the kind words :)
6k subs. And climbing! Congrats! Re auctions: as a busy person, I want to limit my shipping to one or two days a week. Using a 7 day listing with the lowest price I would accept creates win win and I get to ship when convenient for me. Usually most buyers pay right away or I will send out a reminder same day and the rate of nonpayment is actually pretty low. Also, to generate traffic to my store without paying promotional fees I will list stuff weighing under 16 ounces for 99 cents free shipping. At the end of these carefully chosen items I usually break even and therefore drove traffic to my site for free. Love these channel, very thorough. Love the cake! Being a parent is still more exciting than ebay!
Absolutely! Being a parental unit is the best thing I've ever been blessed to be, hands down! ❤🥰👍
Yes I’ve been bitten a few times, listed a Barbie doll for 99p bought for £1 had 47 views 11 watchers, expected it to go high with so many watchers. It sold for 99p 😢
Another brilliant masterclass. Thank you, Justin.👍🏻
Thanks for this video!! I have been selling on ebay since 2008 and ever you said is so true. All my listings are buy now. But I do buy on ebay to resell on ebay and normally I win it at auctions and resell as buy now.
Thanks for the video, great sharing. A lot of people auction off items these days just to make them sell faster.
Thanks for watching!
Thank you so much for this video, it's frustrating seeing items sell 75/90% off market price. Makes other shoppers think they can get the same item at that auction price. This needs to be shared across all reseller YT channels.
Glad it was helpful!
Love your channel. I like your calm and thoughtful style.
I sell vintage postcards on eBay and I agree with you 100%. I see sellers all the time listing postcards as "auctions" because the cards are old (some over 100 years old) thinking, because of that, it has great value. Well, a lot of times, that is NOT the case. Just because a postcard is old, doesn't always make it valuable. They start the listing at .99 cents (thinking it will get "bid up" to hundreds of dollars,) and it usually ends up selling a week later for $1.56. I only List Buy It Now unless I come across a card that is really scarce and has great subject matter on the card face, and I know has great value.
That all matches my experience as well! Thank you for sharing.
I've been selling for about a year now on eBay and I've watched several seller TH-cam channels and yours seem to be the most valuable. Too many others add a ton of useless fluff and only really do it to drive more revenue for themselves. Nothing wrong with wanting to make money of course but when monetizing valueless content it ends up being a waste of time for viewers genuinely wanting to learn. You have done it right so far and I'm learning more now and it's becoming exciting again - thanks 😊
Thank you for watching and for the kind words!
I'm surprised by this. I am still relatively new to this, mainly have experience Flipping Pokémon games, but I have so many things just sitting there on buy it now with 0 offers and few views for weeks or months, even video games in high demand, but I will actually often get more on auctions for my Pokémon games (e.g. a game w a box and inserts is usually much more expensive than the game by itself but recently I sold a game w box worth roughly 165-170 for 150, 130ish after fees, then had the same game loose no box, and on auction it sold for $175+shipping)
I so agree with this! But eBay pushes the auctions - I'm always getting suggestions from eBay to put tihngs in Auction and it seems to be the default when I'm putting together a listing, which is very annoying......Thank you for thoughtful explanation!
Best reseller channel on TY! Dude your videos are amazing. Been reselling for about 3 years now. This is the first year I’ve taken it seriously. You’re helping me daily. Thanks!
Great video and 100% agree -- NO AUCTIONS! The last auction I had was over 6 years ago...and fortunately it was exactly what you described -- high demand and low supply. It was a jade snuff bottle (originally made from an 18th or 19th century belt buckle) and in researching it I found that it was worth at the very least $500 (I bought it at a yard sale for $1). The bidding started at $750 and it sold a week later for $2,118. Research is key.
Great info, I noticed that some auction sellers can build audience with constant quality merchandise and actually sell above market prices
great point!
You're so right! I've had several people NOT pay for cheap $.99 video games.. It's 99 cents, I'll never understand it ..I've also sold shoes others have listed at $299.00 for $24-$40 on auction 😢,a few times.🤦 Honestly I believe I use auction just to keep items moving quickly but I really have lose my tail doing that. I'm about to list several items that will be fixed price.ill be using that option a lot more often now,it'll sure make it more worthwhile, Just never really thought about it the way you explained it. BTW-Love the channel! Thanks so much!
New subscriber...loved the cake!
Thank you for subscribing!
If you want to sell an item fast to move it out even if you break even auctions can be very useful.
When I want to sell stale items I start auctions at $1. More than like with the shipping added I break even or get a tiny profit.
Your ebay videos have great tips even for a long time seller like me. Keep it up!
Thank you, great video! New reseller here and at first I had these delusions of grandeur where, as you pointed out, auctions would cause bidding wars and buyers would pay way more than market value. Just didn’t happen. I only use auctions for rare items where the supply is low now. Great content!
I don't know if he uses auctions but jride flips sells things he buys on ebay. He said sometimes its because they have mispelled words so they keep going down in price to move it
New sub! Thank you so much for your videos! I am about to list my 1st item and your videos have helped so much! Wish me luck!
Good luck!!
Awesome video. You pack this thing up with good info
Boy did I learn the hard way when an item sold at auction for .99. 🤦♀️
oops, live and learn!
I just found you this morning and can't believe the ton of information you share and I can understand! I've been binge watching you this morning. I've also been experimenting with using auctions on a few of my items so this video is definitely helpful. Thank you for sharing your experience and knowledge.
Thanks for watching!
There are resellers/YT CREATORS whom never mentioned that many auctions go unpaid, they have said o this piece never got paid, never mentioned if it was auction or buy it now….so it’s going back to auction on another platform, I’ve watched some for quite awhile to gain knowledge of eBay’s workings but now I feel full disclosure has not been made…Just feel resellers need to be honest with viewers who are also doing reselling most likely in the beginning stages, I know questions are asked but I don’t know if they ever get answered.
I’ve decided to only watch those who give disclosure about price of vintage items where they live, price when sold…but esp in the case of WhatNot sales they’re very quiet about sale prices. Many viewers use this info to determine how they may proceed esp in these troubling financial times.
I really thank you for your no frills truthful information, the facts as many resellers need. Take care and Happy Birthday
Very sound advice, with one caveat. This assumes that the objective is to get the most money for the items. While that sounds like a given, let me explain a case where it is not. While it is true that the $1,000 in 12 months requirement for top rated seller status is a tough nut to crack for new sellers, what is many times more difficult is getting 100 sales in that same time period. Now a new seller with a $1,000 in sales could just go out and list however many sales they need at a buy-it-now price of 99 cents. But why not do the same thing with auctions in hopes of getting a little more money while still getting the sales needed for the requirement.
I've sourced via ebay auctions before. The problem you may run in to is people cancelling orders because they didn't get the price they had hoped for.
Started selling on ebay a decade ago and made the mistake of listing everything on auction & thankfully it didn't take long for me to realize that was for the most part a mistake. In the rare case I do an auction i won't start the auction at a price lower than what I'm willing to accept... typically in cases i just want to get rid of the item because it's sat for too long. Also the Lululemon listing you showed accepted a best offer, it didn't sell for just 99 cents plus shipping. Good video though that needs to be out there because even though it's awesome as a buyer, there's far too many sellers out there losing a lot of money on auctions
Another great video amigo! People need to learn this... If I had to give lessons, yours about matching my knowledge set, even though I'm in a different country's eBay.
nice, just watched this today, you went from thanking for 1K subs in this video to over 22K in 5 months? Not bad man!
thanks!
Great video. Thank you for sharing your advice. I also source some of my items from those auctions but the biggest issue so far is winning the last bid. I don't know if people use some automated tools to place bids as they can outbid you even if you place your bid at the last second.
Great advice! Subscribed.
First off great video definitely informative. Auctions however i feel are necessary because of the ebay algorithm especially for new sellers if your a new seller & not listing daily you will barely get traffic in your store but Auction creates a better likelihood to sell your item. I'm not saying this will happen to everyone but definitely new ebay sellers know what i'm talking about.
Thanks for watching and sharing your perspective!
liked and subscribed.... thanks for the info
Thanks for the sub!
Just found your channel, and I LOVE it!
Ive been buying and selling on ebay since 2000, and avoid purchasing items that are auction style, and i never sell via auctions. Thanks for the video. 👍
Thanks for watching!
This ain’t this Grandma’s eBay anymore.😵💫😖 Started buying in 2000. After a long hiatus selling I’ve had to downsize my living situation and part with stuff. Never did have a store. Mostly sold some estate stuff years ago, even internationally. They killed my long history with 100% positive feedback. Tried to tell me to start auctions low, like $0.99 and promote for $2.99. Guess they think I’m stupid. And now they count shipping cost in figuring final percentage. OOF! One buy-it-now listing the buyer did not pay so I resisted and that buyer did pay. I’m not sold on selling anything more on eBay. It used to be fun.
I have noticed this as well and it has baffled me. I never understand why someone would auction a product that has so much competition?? It makes no sense. My 1st thought was that their business model was one of Walmart, sell a LOT of stuff at low margins. But if that was the case, they could just list them buy it now at the lower prices and get stuff moving rather than waiting for a 7 day auction to end. My final conclusion was that they just don't know what they are doing. LOL :-)
I came here from one of your other videos. I would recommend a more direct title for this video, it is a really helpful topic.
Thanks for watching! I will switch the title to something more direct in the future.
Great video, thanks
Auctions are a good place to find product to resell
Thank you so much for your videos!
I will NEVER use eBay’s auction listing because you can get severely burned and here’s why: What actual live auction have you ever gone to where everyone is in the middle of madly bidding on an amazing item, when the auctioneer just stops everyone and says “Oops! It’s 10:00 and that’s the time limit. So no one else can bid anymore, even though this item may be worth thousands of dollars more.” It’s ABSURD! WHY DO THEY STOP EVERYONE BIDDING WHILE PEOPLE ARE STILL BIDDING??? My idea is they should have a time limit (say 10:00). When they reach 10, if people are still bidding, they keep it open. Then when say 1 minute passes and there are no more bids, then, and only then, is it closed. I believe eBay loses tens of thousands of dollars each year because of this practice. And the sellers DEFINITELY lose out. So stupid. Just my opinion….
New subscriber thanks for your channel
Thank you. This was very helpful.
you're welcome!
I have been selling for 8 years. Only did one or two auctions in that time.
Thanks good reminders 👍👍
My pleasure!
ahahaa 😂🤣 I liked the way your video ended, when you said "so when you can know when to use auctions as a seller which is basically never 🤣🤣🤣 in lemans terms dont do it brotha 🤣
I’ve also been on the other side. Won an auction for cheap and the new seller cancelled my order. Probably because he didn’t want to sell it that cheap. I had no repercussions. Auctions suck.
I've actually won actions on a few items pretty cheap to resell them. No idea why sellers do this.
If I start an auction (rarely) I start at or just below market price. No idea why sellers would start so low. Unless you have a major following or have a popular item you're most likely going get way below market value.
Not sure the auctioneers on ebay are misinformed, I think a lot of them are moving large quantities of merchandise, without spending their time researching. They're looking at moving the stuff, not keeping an inventory. But, to your point a lot of newbies do make this mistake, but those people will learn quickly.
Thsnk you. I will never do auction selling
Auction should be a last resort
Very informative, thank you!
Very welcome!
I only do buy it now. I was scrolling thru my unsold listings. eBay just turned 5 of my listings into AUCTIONS!! I didn’t do that! So I’d have had to pay a fee for the giant reserves! (What was my buy it now prices.) Check your listings!? 😮
Do you sell on other platforms? Mercari, Depop, Poshmark? If so can you do some videos explaining why or why not. I have been using multiple and things do sell on all of them but I don’t know if I’m wasting my time.
I do not sell on other platforms with any sort of regularity, but I will be changing that soon and will be sure to do a video on why and how. Thanks for watching.
I do😅 enjoy a good Ebay SNIPE now and then lol
Every time I check comps for items I’m selling, the auctions are way cheaper. But then when I want to actually buy an item the auctions get run up lol
You content is so informative for us who might want to use ebay and sell stuff. Are they any other good sites that sell similar to ebay and do they have better terms than ebay?
Thank you! I mostly just sell on eBay.
Why assume it's a "generic item?" I sell extremely rare 300 year old antique pottery that might take a collector a decade to find a single example. All of us aren't junk dealers picking through old clothes at yard sales. I'm a collector who occasionally sells and I was hoping for some ideas about Buy it Now vs Auctions. The average selling price on one of my auctions is well over $1000. Many of those had a starting price of 9.99. But it has been 3 years since my last stint selling and I am curious how the market has changed.
Fleecebay may be done with that billion dollar lawsuit/ ...........listed vintage wood's man magazine paid 7.50 auctioned it off 3.bills and paid but I agree auctions are a waste of time they get bottomed out then every one expects it for that price it sold for expects you to take that hit
I just lost money on 2 pairs of shoes... who knew PINK HEEL are now hot. BARBIE
that stinks!
I'm a fairly new seller on Ebay and it's kinda blown my mind. Ebay's slogan should officially be "Ebay...there's a sucker born every minute." Oh right, come to think of it, I believe that's the official Wall St. slogan. Oh well...
A lot of good info but I'd recommend not using vinyl as a general example as it's a complicated field that requires a great deal of time. For example, that Doors record in your video didn't sell for over a 1k because it's mono, it's because the mono recording has an alternate cut of The End that's not found on the stereo version. If you had a sealed, stereo first pressing you would still be around 1k. That's without getting into house pressings, vinyl grams etc...
Thanks for watching! You're right, vinyl is a complicated field and one where I don't have an expert level understanding. Appreciate the additional context!
@@justinresells Your info is really solid. As you mentioned, vinyl buyers are a tough lot to deal with. The grading system barely works because in the end, it's based on how someone's ear is tuned and the equipment being used
I will sometimes use auction to rid stale inventory and it works…is this not a good strategy?
Hey, if it works for you I'd consider it a good strategy! Thanks for watching.
I won't do auctions because people don't pay, and eBay does nothing!
Okay, I'm going to have a lot of questions because I want to get into this. I notice some tupperware items, baking dishes etc. that when i look them up theres usually one or 2 items that sell for some crazy high price, but the rest are auctions that are low. When the one that sold for some crazy high price is checked out, its usually one person with only one or two points behind their name. is there a weird scam or something ?
Luckily i found out pretty early on that auctions weren't for me...I only use it occasionaly now.
My new peeve is the AI push and not auto copying my title in the description .
When selling an item do you ship as soon as payment is made or do you wait for the payment to clear eBay first? Example, I just sold an item yesterday but payment shows "The buyer has paid for this order and we're processing the payment. When processing is complete, the funds will be available for payout". The question is should I buy a shipping label and mail out the item or wait for eBay to show payment is processed prior to purchasing shipping label and sending the item?
I have tons of hot wheels. Can I just do an auction or just do buy it now foe all hot wheels?
Ayyye my daughters name is Ilah as well and she too needs to go to bed. Whata coincidence
lol that's amazing. We spell her's a bit different though: Isla.
when you go to list auction comes up first
in the old days you'd run auctions and get hundreds of views per item. That's not true anymore.
I like the video and the style! New subscriber here brother. Let’s make that internet money!
thanks :)
I buy alot of hats on auction and for cheap BIN and then wash and reshape and list back on Ebay. I average 3-5 sales a day at great margins.
awesome! love it
Really love your videos, What do you think about Mercari?
Thanks Rhonda. I’ve used Mercari some but not a ton so I don’t have strong feelings one way or the other. When I did use it I was annoyed that you couldn’t print labels in the standard label size, but I think they have since fixed that? Thanks for watching!
Could you explain "campaigns" please? I have found no one on TH-cam doing that.
I don't know much about campaigns, sorry!
Are you talking about auctions with a buy it now price or a straight buy it now? Doesn't the straight buy it now come with a 30 day "listed until sold or canceled and then automatically relists if it hasen't sold for another 30 days?
I'm talking about straight BINs, not auctions with BINs. When you list as a BIN it stays listed until sold.
Just started selling e bay and it suggests that things are sold that wat
I can't get the Buy it now as an option. Do I have to upgrade to do this? BTW- new sub, enjoy your content!
Nope, it’s available to all! Thanks for watching.
@@justinresells I finally figured it out. I tried doing it before but I was going thru Revise, it is not an option to change. I however haven't listed anything less than it's worth but have had issues with payments. Getting ready to upgrade to a store tho, because I can't currently list anything else for free. I have many more to list, so I decided I am going to do it. Your advice is very good! I remember back in the old days the reserve price saved you from those low auction bids. I just started reselling in June, and I have been very happy with my sales so far!
When listing , click the auction off and the, buy in now is underneath
What's the best way to sell on Ebay ?? so far my listings haven't gotten hardly and views after 3 days lolo so far ive listed 3 item's 2 floral printed jacket's sold as a set, 2 Aldo messenger bag's sold as a set, and a lot of 12 comics book's, which actually seems to get the most views??? Lolo
I have a video explaining exactly that problem! th-cam.com/video/60U0ocN0Tyo/w-d-xo.html
@justinresells thanks Justin I just watched your other video to on STR as well 😅that made quite a few things clear lolo now I see the sold listings 😅 everybody an they momma is selling a mesngr bag 🎒 haha no wonder. Great channel and that's my name as well lolo Justin lolo keep up the hard work!!!✨️👍🏾
Here from hairy tornado
I hate to play devils advocate, but this all depends on your business model. Some people’s space/storage doesn’t allow them to hang onto stuff for long, if they know their numbers and know it doesn’t matter - I could see why
This is true, but it’s a misconception that auctions are going to make your items sell faster. Demand is what determines how long it will take an item to sell. Simply running an auction for a low demand item does not create demand when it is not there. For low demand items, most of the time it’s better to list as a BIN but capture the lowest priced position amongst competitors so that when a buyer does come along, you’re the cheapest.
Yea Auctions are HORRIBLE , they used to be great ... I Mean sometimes it helps to act as a loss leader , or if it's a FAST high demand item that everyone wants
but LIVE auctions are in: What Not and Posh Live.
very true!
Auctions are only good for the rarest of the rare stuff