Posted 01/17/2008 5:02 pm
I do agree with many of GO's points, but let me offer some other kernels for thought- these are opinions, not facts:
I think many people do not want to wait 5, 7, 10 days for an auction to close, they want to bid and win quickly. We are in a society in which most people cannot "delay gratification" and want things now. As a buyer, it drives me nuts to see a 10 day auction that I found on day 2 and my impulse is to bid on it earlier than later.
Shorter auctions might work for sellers who want to give the appearance that this is a rare item, and will never appear again- this "rarity" appearance could actually bolster final auction prices because there is a bidding frenzy.
That being said, I still agree with GO that longer is better. Unless I am pressed for time, I will do 7 or 10 day auctions. 10 day auctions you have to pay 40 cents extra I think.
I think many people do not want to wait 5, 7, 10 days for an auction to close, they want to bid and win quickly. We are in a society in which most people cannot "delay gratification" and want things now. As a buyer, it drives me nuts to see a 10 day auction that I found on day 2 and my impulse is to bid on it earlier than later.
Shorter auctions might work for sellers who want to give the appearance that this is a rare item, and will never appear again- this "rarity" appearance could actually bolster final auction prices because there is a bidding frenzy.
That being said, I still agree with GO that longer is better. Unless I am pressed for time, I will do 7 or 10 day auctions. 10 day auctions you have to pay 40 cents extra I think.
