Buy now or Auction? Pros & cons

[DynamicDecor 10]

This subject probably has been covered here before - but if you'll bear with the new kid on the block, that would be appreciated.

Which to choose - buy now or auction?

What do you prefer and why?

[JPBon 10]

It depends what you are selling, in my opinion. Selling on auction of highly desired items is ok but some items do not sell well on auction in my opinion.

[babyface2 10]

i have tried the buy now option and it does not really work, auction is the answer

[Wild Olive Art 11]

I have tried buy now and nobody buys. I have also listed paintings on auction with a " high" start price and not sold but a week later , when I list that same painting on R1 auctions , the bids go well above the price that the painting was originally listed at . It's crazy but there does seem to be a psychological element at play that when there is a low start bid , people automatically think they are getting a bargain , even if the price is high when they place a bid !

Of course there is the risk of people not bidding or the seller not getting what he had hoped for but I do find generally the auctioned goods sell better.

[dominiquesonline 10]

I sell almost only as Buy Nows and have had great success. I sometime do a promotional auction or two, but 99% of my sales are Buy Nows.

[DynamicDecor 10]

Thanks for the feedback. I'll have to try both & see what works for the product range

[lilythepink 11]

If I want a set price for something, I will list it under buy now. But it seldom sells. Then if I put it on Crazy Wednesday and it invariably reaches the price I want, if not a little bit more. That's my experience anyway.

[Seeds for Africa 18]

I really think it depends on the product type that you sell. My garden items sell equally on auction and buy now.

[Lukeness 10]

Or you could just list with a higher starting price. Auctions are also a little safer for sellers in terms of the CPA.

[lilythepink 11]

You might be interested to hear that an item (tap fitting) which I had on auction with a starting price of R100.00 didn't get one taker.

 

So I listed it on Crazy Wednesday this week, starting at R1.00 and it's sold for R103.00. Okay, I paid R5.00 to list it on Crazy Wednesday but, what the heck, I got my price! So I still say Crazy Wednesdays are good for sales!

[DynamicDecor 10]

Strange how buyers perceive things.. won't buy it outright for R 100 - but will bid to that price.. SMH

[mellowred 10]

It can only be a psychological thing.

 

Possibly seeing others bidding on an item makes one think it "must be worth that". Whereas when having to pay R100 outright, you only have your own judgement to go on.

[lilythepink 11]

It's very strange but it has happened to me on several other occasions so it's worth bearing in mind that Crazy Wednesdays are pretty good for sales.