The topic for this week’s blog was inspired by having an item to sell where the only words that I can use to describe how the auction went is that it has simply baffled me!
So here is the story… we posted a white wooden bunk bed on eBay last weekend and I think it’s true to say that within the first hour of the item being listed we had received an offer. One of my golden rules is that you know you have a good item when a) you get an offer very soon after putting it up for auction and b) when you are asked if you have a buy now price. Without any exaggeration I would have to say that we were inundated with messages, texts and phone calls over this bunk bed and would we accept a buy now price.
I very rarely do accept a Buy Now price and an exception to this would be if there were no offers on the item in question. As soon as there is a bid I won’t change the auction format. Now that is not a rule as set out on eBay but I personally just think that it is etiquette and against the spirit of eBay if you decide to change the terms of business to suit. Plus I also think that it is often best to let the market decide the best possible price for the item that has been sold and the fairest way of doing that is leaving the item to run on an auction.
So back to this bunk bed… Well, it is a lovely item, produced by Aspace – for those not familiar, they are a company who produce well built children’s bedroom furniture. As the item was branded it was relatively straight forward to undertake the necessary research. We checked out what the item had sold for over the last few months using our eBay specific software. Then we went to see what was on eBay currently and then lastly we went and had a look at the company website to gain a better idea of what they charge for this if it was being purchased new.
We knew it was a quality item to sell and thought that a starting price at £59.99 was realistic and fair to start at. We were fairly optimistic that it would sell for over £100. We know that new, the bed retails in excess of £400 and will often work to the rule that you will end up with a final price back of around ¼ and for second hand furniture I don’t think that this is so unrealistic.
So by the time the auction ended yesterday there had been 1334 page views, 187 watchers for the auction (at the last count) and more exciting than anything the bunk bed sold for £370.05. If I am being totally honest I am baffled and staggered at the price that this item achieved. Quite often we can gauge how something is going to sell and we are often not far out or overly surprised but I have to say that on this occasion we were caught out! On several occasions we have had an excess of 100 watchers on an auction but this was the most by far!
I love it when a potential new client calls me because I take quite a long time explaining to them about how eBay works, the importance of getting the starting prices right and then I often tend to descend into eBay jargon speak. It isn’t that difficult selling on eBay but actually yes there is an art to it. So quite why these bunk beds went so well I have to hold my hands up and say that I don’t really know. Most importantly though I have been left with a happy client and an equally content buyer who is arranging to collect their bed this weekend.
So that’s it from a baffled and happily surprised AuctionGirl for another week. I am avidly typing this blog rather late at night. I did enjoy my little break from it last week and when I said to Marla earlier this evening that the blog might be a little delayed she offered to step in and write it. I growled at her as only a Rottweiler can (that’s her nickname for me and I duly told her to keep clearing clutter whilst I blog away happily). Wishing you all a great bank holiday and Golden Jubilee weekend with family and friends. Bel x
PS If anyone has any unwanted pairs of designer sunglasses (men’s or women’s) lying around their home then now is a perfect time to sell them but don’t leave it too late to get in touch!