Buy It Now VS Auctions Which One Is Best For You? eBay For Beginners!
Vložit
- čas přidán 22. 07. 2024
- Updated for Today's eBay! This video details the reasons we choose which whether to run an item in an AUCTION, or list it in a Buy-It-Now format.
THANK YOU SO MUCH TO EVERYONE WHO HAS HELPED SUPPORT THE CHANNEL BY USING THE LINKS BELOW! YOUR SUPPORT HAS BEEN NOTHING SHORT OF HUMBLING.
Disclosure: Some of the links below are affiliate links. This means that, at zero cost to you, I will earn an affiliate commission if you click through the link and finalize a purchase. As an Amazon Associate I earn from qualifying purchases.
Our terrific scale: amzn.to/3GU9o0y
Our WIRELESS label printer: amzn.to/3BxXb0K
Our WIRED label printer: amzn.to/3gQOK6M
Our poly bags for storage: amzn.to/3rRitmK
The best shipping tape: amzn.to/33qAwGY
Poly Mailers: amzn.to/3paZhi7
Small shipping box (perfect for hats): amzn.to/3uWBUfF
20 Items Under $20 Every Reseller Needs
Thank You Stickers: amzn.to/457c9rI
Thank You Cards: amzn.to/3Twx3f0
Variety Pack Poly Mailers: amzn.to/3RfGG02
Accuteck Scale: amzn.to/3GU9o0y
DUCK Tape Roller: amzn.to/3e8AUi8
Small Business Packing Tape: amzn.to/3B8K1Z9
Box resizer and Label peeler: amzn.to/3em5Ewo
Folding Light Box: amzn.to/3q7xq29
10” Ring Light: amzn.to/3emD7H3
Tape Measure 3 pack: amzn.to/3wOUzdl
Fabric Shaver: amzn.to/3Ba9dOW
Tissue Paper: amzn.to/3RCNzsl
Scissors: amzn.to/3RzxJ1y
Magic Erasers: amzn.to/3ek6wBJ
Tide Pens: amzn.to/3eh3fmw
IKEA Zip Top Bags 2 pack: amzn.to/3qetn41
Necklace Display: amzn.to/3CUeqvz
Mannequin head: amzn.to/3CTTsNv
Shoe Display Set of 4: amzn.to/amzn.to/3CTTs...
Extra Wide Hanger: amzn.to/3TEpsv3
Charcoal bags: amzn.to/3cH0VET - Jak na to + styl
These videos from you is exactly why I let all my fellow resellers know about you. Simple and exquisite information. Just letting you know that you are a valuable teacher. (Can't stop teaching can you?) So glad you continue to teach!
I appreciate that more than you know. Thank you!
Exactly what I was looking for! Thanks for making this video.
Very informative and everything is well explained. Thank you very much .
Thank you, Scot, I totally agree! Thank you for the video!
I appreciate the comment!
Good vid, TY, Chaching!
New to finding your channel and just watched a couple of videos to help me out with my business and I just wanted to say a massive thank you for all the clear, concise, easy to take in information that's so helpful and relevant. Too many channels try to make things more complex than they need to be but you smash it! I'll be subbing and watching alot more for sure! :)
Thank you for helping others with what you've learned along the way. May your success continue!
I truly appreciate the kind words. My goals are to create genuinely helpful and encouraging videos.
I absolutely adore you! Thanks for all of your great content and advice.
You are far too kind. Thank you so much.
Another perk of a auction is the seller has a degree of control over when the item sells (Day of week / time). This is particuarly useful if you are only able to get to a post office on a specific day of the week for eg or need items to sell when you have availability between your work schedule. Years ago i know they used to charge for 'Buy It Now' listings however i think its now free like auctions but not 100% sure.
That's a brilliant point. It's funny that I never thought of listing that as a perk because I absolutely do that. Great point
Thank you so much for your great information. It has been so helpful for someone just starting out like me.
You are so welcome! I truly hope to be helpful.
I am learning so much from watching your videos. Thank you so much for sharing this amazing source of information. This one is quite helpful.
You are so welcome!
Thanks so much Scot, great information to know!
Glad it was helpful!
You're the best. Thank you for your detailed teachings. Have a great day l.
Thank you! You too!
Excellent! Exactly what I needed in an explanation. Thank you!
I really appreciate you watching. 😀
Enjoying your videos. Learning more all the time.
Thank you!
Always great info for this new reseller! Thanks!
Glad it was helpful!
Great information like always and I did my first auction listing today on eBay thank you for this information. Much love Jamie.😊❤
Look at you go!!!
As always great information. Thank you.😃
Thank you so much!
awesome information ! I never thought of the perspective that an auction can make you "more" money. I always thought of it as a way to move items and get what you could for it. You have given me some new perspectives and I truly appreciate it! Your videos are really helpful and Thank you for the time you put it to make them. Thanks, Fred
It can yield more, but you weren't wrong. For the most part, an auction helps move stuff. But, for those rare gems, they can go MUCH higher than I would have guessed. There are a handful of times a year that we auction items hoping they blow up. Some do. :-)
great info. Thank you for all your help.
Glad to help
If you list a item on 'Buy It Now' for say £100 and turn on best offer then its fair to say you will get offers below your asking price (Very few would pay full price), so to factor this in. If for eg you must get £100 then either dont turn on best offer or list at £110 and accept best offers from £100 for eg. Best offer basically sends a flag up to the buyer to say "You dont need to pay full price here" in most cases.
Possibly. I certainly understand that, and it's a reason I didn't turn it on for so long. For us, the positives have outweighed that.
This was great! Thanks for your experiences.
I appreciate the encouragement
Super helpful. Thank you!
So glad!
Goodmorning! Just got it started. 😊
You've got this!
Amazing video. Thank you so much!
Thank you so much
Good stuff Scot!!! Hope you are well👊👊
I am! Thank you so much!
Very true everything you said!
Love this advice , as always 😊
I appreciate that. Thank you.
This was great information
Thank you!
Always great advice ☺️
Thank you, Crissy!
Good video ty
Great video!
Thanks!
I always enjoy the videos. I have a question that i haven't seen you address yet. When you sell an item on ebay is it best to pay for the shipping label from the profits of the item you sold. Or is best to use paypal to purchase shipping labels? Any info is appreciated!
thank you so much
I would add to what you said...think about or know which way you are going to sell an item before you buy it. I like to sell rare stuff on auction but when that inventory gets low I might buy widget items that don't sell over retail and do BINs to fill in gaps in income.
Absolutely. I have picked things up KNOWING that they could sit and fill gaps in sales for me. My dust mop pads are a good example. I only clear $5 when they sell. BUT, I've sold them 1500 times from the same listing.
Great information! 😊❤ ty
You are so welcome!
Great! Your videos are essential as I need direction Ha! I have an "old" muppet NRFB and if I don't choose soon I am just going to gift him..Just kidding...Your educated advice is appreciated. :)
LOL! You'd have plenty of volunteers to accept that gift. :-) I truly appreciate you watching and commenting.
chaching king is the best name I've come across on CZcams ! lol Hi Scott!
LOL...It was just dumb luck on my part. I picked something that rhymed and it was available. I'd like to tell you I'm just that clever...but I'm not. :-)
Sometimes BIN buyers don't pay, even if you have the box checked.
I've only had that happen if they sent an offer or I sent one to them. That said, it shouldn't ever happen. It really doesn't make any sense.
Not sure what you’re saying. You said you don’t check the buy it now but the you mentioned you do.
Hi, I have been following you since I started in January of this year. As I have told you before I am so appreciative of all your classes and your teaching skills. I have heard about the importance of ending a listing and relisting for the affect it has on algorithms. Could you give me your opinion on this topic. I have not been able to find any of your videos that address this topic. I trust your opinion....
I don't think it has much impact if you don't improve the listing when you relist it. It does refresh the listing. No doubt. But, if the cause of it not selling was something that was either poorly worded or poorly photographed, it won't help. And, if it's an item without any demand, relisting it won't help. So, I don't do a lot of ending and relisting. But, when I do, I make sure to improve the listing as much as possible. I am currently running an experiment on 40 stale listings. We are ending, revising and relisting 20 of them. The other 20 we are sending to auction. Hopefully, I'll end up with some results that are interesting. If I do, I'll share that in an upcoming video.
Thank you Scott for taking your personal time and addressing my question. I know you are a busy guy. All the best to you, Lynn
Nice tshirt
I love it so much that I've bought several.
I always learn so much. Almost doing this a year and still dont know how to do comps. I just don't get it. Please do a detailed video on this. Also a videos on whether to have s store or not. I just can't see the win in this? I the long run just giving them more money for what.. really don't get it. Please help. Thanks!
Thank you SO much for the kind words. I truly appreciate them. I've made a couple of videos similar to what you're asking about. I'll link them below.
Here's a video on pricing your items. czcams.com/video/D6HMgrNRCHw/video.html
And here's a video on whether or not you should consider a store subscription. czcams.com/video/Hb_nhQMyNfs/video.html
Hi Scot , I hope you doing well
Can you please make a video how to find postage cost when we list an item for free shipping? We pay for postage and how to find for tax returnat the end of yesr.
Thanks
I will see if I can work that into an upcoming video
@@TheChaChingKing thank you very much Scot I really appreciated
Wow great video. I have finally tried auction on items that I knew I would get a lot of watchers. I know the ceiling price, but I don't know how to select a starting auction price. I tried a license plate for an auction started at 65 and got no bids. I listed for 55 buy it now it sold within 10 minuets. Now I have a Garfield clock I know that they sell close to 185, so I started the auction at 155 no bids, so I just put it to buy it now at 165 and have a ton of watchers. I just feel like the listings with a ton of watchers are good candidates for auctions, but I am struggling with the starting auction price, I guess. Also, had a GI Joe doll thought for sure would be bided on, but nope. Any advice on how to select a starting price? Maybe a new video?
I run very few auctions because of what you've described. I don't really care how many watchers it can get. I'm more interested in items I know will have mad demand and no supply. I only auction off items that I know will start getting bids immediately because there's people waiting to find one. Otherwise, like your clock, I'd price it at $190 and turn on best offer.
As a buyer what really puts me off an item is when that item has a reserve . My reason for this is you place a bid for the item and it does not meet the reserve , II place a bid one or two more times same responce and I just look for another of the same with either no reserve or why not as a seller dont use a reserve and just put the amount you really want as the minimum you will accept
I completely agree. I start mine at a price I can live with. On the rare occasion I start it low, I'll follow through even if it doesn't bring anywhere near what I thought it would.
I love your content. I started my Ebay store a few months ago, and your videos have helped me tremendously. Just a question. If I were to do an auction, would it be actually necessary for me to pay Ebay for promotion?? (I think they'd charge me even if it doesn't sell, right??)
I wouldn't promote an auction. If it's not an item sought highly enough to bring viewers on its own, I just wouldn't auction it.
And thank you so much for the kind words!
@@TheChaChingKing Thanks for the helpful response!
Could you explain the different eBay fees for these various options, please?
I don't typically do anything that has an add-on fee. For example, you can run an auction or a buy-it-now without paying any additional fees. If you add bold titles or unusual lengths for the auction, you can insure fees. A seller will always see what the potential charge of a listing is before they click to post it.
I’ve seen eBay sellers the ones who sell variety of a product like dvds, games, or toys that have more than one include all items of the same category in one post. Just wanted to know how are they able to do that if you don’t mind explaining?
They could easily include a variety of them in a bundle. One price for all of them. If they are selling like items under a variation listing, they are either using the system incorrectly just doing something I'm not clear about.
I didn't get it. Am i supposed to put the full price of the item in the starting bid price option?
No, you can start it for a dollar if you want to. I start my auctions at the lowest amount I'm willing to take and hope that they will go up.
Hi Scott and am subed and like your vids...I am new to ebay and I find that my stuff doesn't get shown much...I price well, but when I change computers and IP address, I can't find my listings.....any ideas?
thanks and keep up the good work
My number 1 advice is just to keep listing. If your store is active, it'll eventually see more traction. Ebay favors activity more than the age of the account.
@@TheChaChingKing Thank you for your reply, I added a few more today....fingers crossed...
Quick question if you read this soon. I started an auction on a rare plush for 3 days, and within a day got a buy it now offer above my minimum but half of what I was hoping to get. It says I have 24 hours to respond. It also says that if someone bids on my plush, that the offer will automatically be voided by Ebay. Should I take the offer or hold my ground for the auction to finish. P.S not a lot of watchers so far. thanks
If you can live with the offer, take it. Check the feedback of the buyer first. Specifically, check the feedback they leave other sellers. If they leave others good feedback, take the money and move on.
Hey ChaChing King. Amazing video as always., I have a question about the shipping. Im trying to sell this item, and its true value is only for my country(Canada), so I won't need to the doing international shipping. I decided to do a fixed shipping fee of $15 CA. I was just thinking I could do this, and than ship it myself on our most popular shipping service: Canada Post. Does this mean I still have to input a shipping service on Ebay in that section. I see a standard option and chose that. Does that mean I can do my own thing, or do I have to do out through ebay? How would I do that even? I don't want Ebay thinking I haven't shipped the item when In reality I did.
You can choose the standard option and then ship it through anyone of the choices on eBay at the time you ship it. You really want to buy your label through eBay. They negotiated much better rates for you. If you don't have a printer, have it send you a QR code and have them print a label at the post office. If you buy your label directly at the post office, you have to enter the tracking number into eBay as soon as you get home. the tracking number allows eBay to mark it as shipped and you'll have proof when it arrives.
I hope that helps a little. :-)
Ok. So basically, when someone buys my item, than I will have the option to purchase the shipping label because if someone buys it there address and all other details are known. So now lets say when I was creating the post, I chose standard shipping. Now when someone buys it, ebay knows this and than creates the shipping label for me to buy? And than from there I just deliver it to Canada Post without doing anything else and without any other fees? Is that right?
eBay should automatically charge a buyer when they win an auction and immediately pay the seller. I’ve been trying to sell the same item four times now! Winning bidders are not paying! I’ll try a buy-it-now but it’s not as much fun as watching the item get bid up over time. Are people getting more unreliable or am I just having bad luck?
eBay has slowly (AND I MEAN SLOWLY) rolling out automatic payments for best offers. I haven't seen it yet on auctions. But this needs to be fixed ASAP
I have best offer with no max or minimum and I noticed that eBay is changing them to a minimum of 50% off without letting me know!
Interesting! I haven't had that happen to any of my listings...that I know of. I'll have to keep an eye out for it. I want to see the terrible offers. In my experience, the people who send you an offer for 90% off are the same people who leave terrible feedback. I like to weed them out if I can.
What is the name of the font you used in the background? Does it already come with shadow, or do you need to "add" it?
I can't remember the font off hand. But, I have to add the drop shadow regardless of which font I choose. I'm using a program called DaVinci Resolve Studio to edit my videos. It's a very powerful program but has a steeper learning curve as a result. I chose it when I first started because I wanted a program that could do anything I ever wanted without having a monthly subscription and without having to relearn something when I became a better editor.
@@TheChaChingKing Thanks for the reply, please let me know if you have a chance to find out or happen to remember what font that is as I really like it!
are you ever left with inventory that just never sells? what do you do with it?
Occasionally, I have things I can't move. I just give them away.
I have a question. On auctions, have you seen the fees change vs a standard item? Will an item that sells for $40 on an auction vs the same item selling for buy it now for $40 get you the same income?
Hmmm...I don't think there is any difference in the final value fees at all. BUT, you can spend extra money on insertion, which would come out of the backend, but you don't necessarily have to. If you add a Buy-It-Now price to your auction it would cost more. But that isn't a final value fee, it's really a listing fee. I don't think there's any difference.
@@TheChaChingKing thanks
Ok. So basically, when someone buys my item, than I will have the option to purchase the shipping label because if someone buys it there address and all other details are known. So now lets say when I was creating the post, I chose standard shipping. Now when someone buys it, ebay knows this and than creates the shipping label for me to buy? And than from there I just deliver it to Canada Post without doing anything else and without any other fees? Is that right?
When the item sells, you get on to ebay, double check your weight and measurements, purchase and print your label. Put the label on your package. You won't spend anything else at the post office.
Does ebay take their cut from your original price when you accept an offer? I am pretty sure i noticed that. Doesnt that discourage making and accepting offers?
They get their share of the price it sells for (plus shipping). So, if I listed something for $200 and I take a $150 offer, I'd pay fees on $150. Does that help?
Apparently in some states you have to be registered to run auctions
I know Ohio and other states had done something in that regard. In Texas, SO FAR, we don't need one. But that is a good point I could have, and maybe should have, included in the video.
Scott, when i list as auction, I see similar items with starting bids from anywhere between 1.95 to 200. I am selling rare coins. What's the best pricing strategy for this? Let's say I bought a coin for 5.00, should i start my bid at that price? I'm just confused about how I should approach this/
I don't start auctions at less than I'm actually willing to take. So, if I paid $5 and I don't want to risk coming in lower than that, I'd start it at $5. You could start it lower and have a reserve on the item, too. I never mess with that. I just start it at my bottom dollar.
@@TheChaChingKing Thanks a lot Cha Ching King! Will do this. Just putting some stuff up now.
What is your opinion on multiple listings? (Listing on multiple websites) is it better sometimes to take the end auction fee for a higher price somewhere else or can this affect your rating?
Most people call that "cross posting." I'm in favor of it. I don't cross post everything. But I do enough to keep my Poshmark and Etsy stores viable. It gives me options if I ever had a real need to use another platform. That said, I wouldn't ever end an auction that had bids in it. Not ever. eBay really frowns on that. I wouldn't cross post anything that is running on an auction.
@@TheChaChingKing thanks for the response, huge fan of your vids. Now I know ending auctions that have bids is not the right move. I did, however, end two auctions on eBay last week that had one bid for each item that sold for much more on another site. How detrimental to my eBay account going forward was that? I figured if I didn’t get rated negatively by other sellers it wasn’t going to effect my account
I'VE BEEN HOSED BY BUYERS NOT PAYING FOR THIER WINNING BID ON AUCTIONS TOO MANY TIMES AND I'VE COMPLAINED TO EBAY AS WELL. I'M GOING TO TAKE YOUR ADVICE AND CHANGE MY AUCTIONS TO BUY IT NOW. QUESTION CHACHINGKING: IS IT POSSIBLE TO END AND RELIST BUY IT NOW LISTINGS OFTEN TO KEEP THEM REFRESHED ON THE NEWLY LISTED FEEDS?
It is possible to end items and relist them to help refresh them. Here's a few things to remember about that. First, if you end an item and relist it, it counts against your free listings you get each month. Second, unless you do something to the listing to make it more attractive to a buyer, you're likely to get the same results the first time you listed it. And, finally, I've personally never seen enough sales from the process to make it worth my time. I'm always better off to just list new items and keep moving forward.
I hope that helps!
I was wondering why eBay was trying to charge me .30 for each relist. Thanks again for your help!
I have sold about 8 things, some with auction, some with buy it now. Half of the auction ones were not paid for. So, now I wait to cancel the orders after 4 days. I am not sure I want to do auction after this 😑
That's definitely a flaw with auctions. It is a very smaller percentage of items that I think are worth the extra hassle.
How difficult is it to change your store name?
It wasn't difficult at all. Go to... reg.ebay.com/reg/ChangeUserName
You can only change your name every 30 days. After you change your name or will have a mark next to your new name for a month or so, noting the change.
So you check buy it now and best offer. Are there two more boxes that you don’t check. When can you check their feedback. I apologize in advance for my confusion.
If I do Buy-It-Now and turn on Best Offer, I wouldn't check the Auction box. If I get an offer from a buyer, that's when I go check out the feedback they leave other sellers. Does that answer the question? :-)
@@TheChaChingKing I think so. When I go through the process I’m sure the light bulb will turn on. So you turn on but it now but you leave the minimum price you’d accept unchecked.
@@TheChaChingKing Sent my last text without proofing, oops. Thanks for your time. I’ll figure it out .
If you get a buyer that does not pay on an auction item does eBay still charge you the fee for selling the item?
I haven't seen that. I have heard others say it, but I haven't seen it myself. BUT, take my experience with a grain of salt. I run very, very few auctions. And most of my auctions are for items that are really coveted. So, I generally get paid for them. It's rare that I don't. Couple that with the fact that I haven't specifically paid attention to any fees on unpaid auctions and my experience my not apply to other (or even be correct). I'll try and see when I run another auction that doesn't get paid for if I am charged any fees.
How many Ebay listings do you have up at a time? Just wondering if starting with 5 is enough.
It's more about consistency that it is how many at a time. Doing 5 at once isn't as good as doing one a day for 5 days in a row...in my opinion. The more active your account is, the more traffic eBay will send it's way. Does that make sense?
@@TheChaChingKing Yes, definitely makes sense 💯
😊
😎🙏
We're you ever a teacher?
I taught elementary school for 6 years before I went into administration. I was an elementary principal before becoming a superintendent. I spent 12 years as a superintendent in a small district. Being in a small district allowed me to keep working with kids. In addition to the regular superintendent stuff, I coached CX Debate, tutored, did all the FAFSAs and college applications for the kids...and could still visit the classrooms everyday. I absolutely loved teaching. I never planned on going into administration. Life just took me that way and I had a more successful career than I deserved. I never forgot that, if I did my job well as an administrator, I was the least important person in the district. When I did what I was supposed to do, the most important people were in those classrooms. I retired in 2018. And, if I'm honest, I only miss the kids. If the right opportunity came along, it wouldn't shock anyone that knows me to find me in a 5th grade classroom again. I loved teaching and CZcams gives me back a little bit of that. Makes me feel like I might still be able to make a difference.
Excellent Scot... As informative as always🦾🕺
Thanks, Mark!