What Makes A Successful Auction Site?

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Author	Replies: 6 / Views: 1,215
basicbob101 Pillar of the Community United States 819 Posts	Posted 04/04/2007 1:34 pm This is not necessarily an ebay type question but since ebay is the cock-of-the-walk, it would attract more comments here, but if it needs to be moved I understand. My question is to try to understand what drives an auction site, is it the sellers or buyers or both. In my humble opinion it needs both, but what about a new start up auction site (I am thinking of creating one for special "niche" market). I think you have to have good sellers with a wide variety of items targeted to the buying market niche to attract the buyers, but then you must have buyers willing to continue to come to the site to support the sellers. from a seller's side I like the idea of extended time when bids are posted in the last few minutes of an auction. There are some auctions that do this. from a buyer's side I like an absolute time limit so other people don't have a repeated opportunity to "nickle and dime" me to a higher price. I would like some feedback as to what you think would make an ideal combination of features to attract buyers to list and sellers to buy. any ideas? what would the perfect mix of auction qualities be? thanxz for any and all input. Report this Post to the Staff

Ferret Lord Valued Member United States 218 Posts	Posted 04/07/2007 11:57 pm There is such a large amount of options for an auction site. these are not in any order but might help. 1. easy to understand and navigate. 2. adjusts to all screen sizes 3. fast upload 4. feedback 5. bulk listing 6. lots of traffic (easier said then done) 7. auto relisting 8. multiple currency 9. multiple languages 10. easy to read auctions 11. automatic payments 12. seller stores 13. low to no listing fees 14. easy to remember url thats all that comes to mind right now but there are tons more. what niche are you going for? Report this Post to the Staff
basicbob101 Pillar of the Community United States 819 Posts	Posted 04/08/2007 10:48 am Thanxz Ferret, you raise some good points. I don't want to mention the niche just yet lest someone else with more money than I jumps on the idea. I think it will take about $3500 to set up the site, another $4000 in an advertising campaign to target the audience. Right now I am about $3000 short so it may be some months before I take the plunge. My thoughts are that I will have to have Sellers initially, that will require some incentives for listing...I am thinking of very low, one time annual fee for the first Sellers to sign up (say 1000, or for all that sign up in the first year) with some carry over privileges for the "founding sellers". Then very low fees with no final value fee. the ad campaign will be to drive buyers to the site, without sales the sellers will leave or abandon it...it must then become a mutually beneficial program, sellers sell with low fees, buyers continue to come becuase the find what they want, will then have good "word of mouth" to taper off the ad campaign. thinking of bonuses to sellers based on overall site performance, sort of a "profit sharing"...hard to determine criteria for that though. for buyers, every so many items sold from the site (as a whole, not from a seller's site) would be reimbursed for shipping as a bonus. One sore spot with many buyers is shipping fees. I don't know if I could inforce shipping costs, but could strongly encourage actual cost for shippng and that handling fees must be designated apart from shipping and could not be charged if not so stated in the listing. enforcement would be warnings leading to removal from the site. just some of my thoughts. I appreciate your input Report this Post to the Staff
Ferret Lord Valued Member United States 218 Posts	Posted 04/08/2007 10:56 pm you better have one heck of a niche for a $1000.00 annual fee on a new site. $4000.00 in advertising can go very quickly if not applied correctly. Do as much research as you can before using an advertiser. On a previous site I spent close to that with virtually no results. I think the way to go is find every way to get you site out there using multiple forms of advertising. Don't put all your eggs in one basket so to speak. You will find there are several ways that can cost little to no money. I wish you the best of luck. Just don't give me too much competition, okay? Report this Post to the Staff
bobby131313 Forum Dad United States 24170 Posts	Posted 04/08/2007 11:07 pm quote: from a buyer's side I like an absolute time limit so other people don't have a repeated opportunity to "nickle and dime" me to a higher price. The buyers dictate. Yahoo offers it as an option and the biggest sellers' over there don't use it, because buyers hate it and go to sellers that don't use it. Forget you even thought about it. Shop CCF Members on eBay. Report this Post to the Staff
basicbob101 Pillar of the Community United States 819 Posts	Posted 04/09/2007 09:57 am Ferret Lord, I didn't make myself clear in trying to be too brief, I meant the first 1000 sellers to sign up would have a reduced fee or some other special privilage...the intial fee I am thinking about (subject to change based on further research) is $25 for one year with no listing and no final sales price for the 1st 1000 sellers...that way they could list somewhere else and just indicate it is subject to prior sale..if it sells on my site they have no fees to pay and save the final price fee from the other site,,no risk. I still have a lot of planning to do, I think I have the market pegged; it is just getting all the numbers to work out. Thanxz for the comment Bobby, I tend to agree; I don't like an extended time when I am buying,never used it as a seller. But I like your comment that buyers dictate, without the buyers the sellers will leave; but without sellers the buyers won't come...kind of a chicken and egg situation; but I think you are correct in saying the buyers dictate; just wanted some outside confirmation, thanxz again all Report this Post to the Staff
basicbob101 Pillar of the Community United States 819 Posts	Posted 04/09/2007 10:03 am note: there is an auction site in Texas where the company just sell excess school equipment, it has extended time. I have made some excellent buys here on shop equipment, etc but have also lost many due to the extra time. One time I bought 200 computer desks (metal, roll around caster wheels, wired with surge protector and 20 foot cord) for fifty cents apiece; sold them for $15-20 each to small shops, home shops, home laundry rooms..many uses..parts carts, etc; I even have my band saw mounted on one so I can roll it out of the way. Any Texas members should check this site out from time to time: www.lemonsauctioneers.com Report this Post to the Staff
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