Back to business, lately eBay has been running a special offer for free auction listings, sometimes with free Buy It Now. I have found this to be very profitable and hope that they keep up this trend.
I am not a big fan of auctions, they were great in the early days of eBay, but in the past 5 years or so, more people just want to buy it rather then wait to see if they've won it at auction. I prefer to list my inventory at fixed price and just wait for the right buyer to come along. However, since eBay has been running the free auctions special, I've been dabbling with some success.
Here are a couple of tips to utilize these freebies to the full extent:
Dig out all the unlisted stuff that you're not sure of the value. Try it at auction, just don't start it at $.99; your opening bid should reflect the minimum amount that you are willing to accept for this item. Don't be upset if you only get the opening bid. I sold these boxing gloves hoping that they would sell for about $30, but they only got one bid. It's OK I got them for free:
Tuesday night I listed 19 items at auction. Some of them I've tried to auction off before, but now I've lowered the price with the hopes to just unload them. Other items were things that I've acquired but am uncertain how to price.
My sister gave me a stack of games last week to either sell or donate -- my family donates unwanted stuff to me, then I sort, research and either sell or donate to a Thrift Store will 100% of the profits staying with me. Anyway, one of the games was called Peanut Panic from 1994. I couldn't find it in eBay's completed or in Terapeak. So last night I figured that I would take advantage of the free auction and started it at $14.99. Well this morning it is up to $41!! Honestly, I considered donating it because it really doesn't look like anything special. Here for is a link so you can watch it with me, and below is a photo:
If you have an eBay store there are some do's and don't's when utilizing the free auctions. Don't expect that items that have been sitting in your store for a long time will suddenly sell at auction without changes. Auctions no longer give storeowners better exposure, so if it's not selling for $20 at fixed price, it's highly doubtful that it will suddenly sell at auction.
If you decide you want to do a clean out of your eBay store, take the time to edit your titles now that you have an additional 25 characters to work with. Also, since you may only get the opening bid, price the item so you'll still make a profit or at least make your money back if it's a dud.
For items that's you've only had listed at fixed price for 2 weeks or less, let them ride for another 2 weeks. You've already paid the listing fee for 30 days; changing it to auction style means that you didn't get your money's worth from the fee you paid, making the auction not really free. Hope that make sense!
Finally, this is a great time to branch out into a different product line. Have you thought about selling clothing but aren't really sure? List a few items at auction, if they don't sell or if you decide that you don't like photographing clothes then you didn't lose the fees that you would normally pay to list.