Today I wanted to tell you about a SECRET STRATEGY that EBAY POWERSELLERS utilize each and everyday to maximize bulk sales and increase revenue. This strategy is plain and simply to incite a bidding war on products that you have large amounts of. This will allow you to send a SECOND CHANCE OFFER to each and every one of the bidders who are all interested in your product.
You may ask how can I get all these interested bidders. Well the answer is look up the price of the item that has previously sold on ebay, this is the price that the market will bear. Once you have this dollar amount that your product regularly sells for, price your item 10-20% lower. I have a video below that will show you how to look up these prices for sold items on ebay.
Now that you know how to price your item, all you have to do is wait for your bids to come in. I personally list my items for 7 days to allow enough people to be able to see you item. If you have an item that will be slightly harder to sell you may opt to list it for 30 days, yet this will sometimes cost you more. Once you have gotten to the end of your sale and you have your bids collected ship out your paid for and sold item; then start sending second chance offers to the other bidders. I will usually set the sale time to 3 days so they have plenty of time to respond. Now this second chance offer goes to them at the price that they bid, which means that you are guaranteed that price if they accept the offer.
- $21
- $23.50
- $25.50
- $27
- $29.50
AND THE WINNING BID OF $ 30
Now if you look at it, I did take a risk by listing my product lower than I usually sell it. I could have had one bidder at just $21. Sometimes you have to take a calculated risk to be successful! After all was said and done I sent out 5 SECOND CHANCE OFFERS and 4 were ACCEPTED. The crazy thing is, the bidder that didn't accept was the lowest bidder of $21.
This one strategy let us move substantially more product with just one auction, which also greatly increased our sales and revenue. We will bring you many more EBAY strategies in the future. Thanks for your time and interest. Here is a video explaining this strateg on our Youtube site THEGREENCABBY
This one strategy let us move substantially more product with just one auction, which also greatly increased our sales and revenue. We will bring you many more EBAY strategies in the future. Thanks for your time and interest. Here is a video explaining this strateg on our Youtube site THEGREENCABBY
