I can tell you I only realised this now as the amount has dropped of significantly.
I sell a lot of stuff to a limited audience so I price it accordingly (more about this in another blog). It means that I don't get heaps of hits on my auctions so my overall traffic is fairly low.
Last year I sold a heap of music memorabilia and also a set of Meakin China. These were all much sort after items and because of this I was getting a lot more hits on my pages.
Now I will tell you how I made much more from these Items than expected and how I got the side benefit of increased traffic for a long period of time.
So I will focus mainly on the J&G Meakin China. I bought this a set of approx 35 peices at auction for the sum of $278AU. Reasoning that plates sell for around $5-$10 and the tureens, Gravy boat and platters I could expect $45-$75 each for...... I was looking for about $300-$350 profit. I will tell you now I got over $700 profit! I naturaly expect to get premium prices for my items due to the quality of my listings but I learned a few things during the sale of these items. Here they are in point form, some of them I knew, some were new to me and some were just re-inforced.
- DON'T FLOOD THE MARKET: Well this is fairly obvious but I see it time and time again. You should be looking on eBay and watching for prime times to sell your items. Look for times when there are few or none of what you are selling listed or they are starting at a high price. If someone has the same or similar items listed at a high price - Don't undercut, use the opportunity to get the maximum price for your item. Beat the competition by presenting your item better and by giving outstanding customer service.
- BUILD A RELATIONSHIP WITH YOUR BUYERS: What I mean by this is if you have 100 of item X and you list them all at once and buyer A would like 50 but is a bit unsure of the quality or service they might only be willing to buy 10 at $10 each. If you list 2 of your items and they buy 1 for $15 and are happy with, it they will continue to buy from you at a higher price. I got so much repeat business with the Meakin China because of this.
- GET THE BENEFITS FOR THE LONGEST TIME: During the Meakin experience I would go weeks without listing stuff and would be getting emails asking when I would be listing again. I would keep all my regulars informed and list a few hear and there. I always list enough so that my customers can buy multiple items to save on shipping. The Meaking china and the memorabilia I was selling got me so much more traffic that my presence on google searches astounded me. I would be doing research on a product I was selling and here on the first page of the google search are all my eBay listings. Wow! So all my items that don't get much exposure were getting a huge boost from my increased traffic.
