Selling domains on Ebay is very competitive.
To be one of the few that make a really good profit, you need to put some work into your listing.
There are a number of steps that you can take to make the process easier.
While these steps may add to the time it takes to list and make a sale, it can make all the difference as to whether you make a profit.
Do Your Research!
I trawl auction sites all the time, not necessarily to buy, but to check and see what domain names are selling, for how much, how many bids they receive, and what time of the day they sell at.
The day of the week they are listed, and the day they end are important.
I also read the description of the name, and check out details of how old it is, whether or not it has expired at any time, how many times it has changed servers and so on.
You can do this by checking Domain Tools. This site is a great source of information, and has a range of memberships available.
Target The Best Time To List!
This is important! If you’re using a site such as Flippa.com, it is even more important, because of the higher listing fees.
The reason for this is very simple – if you pick the wrong day to list a 24 hour auction, you are limiting your exposure to prospective buyers.
Remember that you are in a global market!
9pm in New York is 11am the next day in Eastern Australia, 1pm in New Zealand and so on.
Picking a time when your market is active and awake can be a key consideration. Remember, having more people with a chance to bid on your auction means that you have a better chance of making a profit.
Choose A Good Heading For Your Auction Listing!
Choose something that will attract bidders, and that they can see in a hurry. If they are scanning headings and have to dig too far for the actual domain name, they may not bother.
What does it matter? Well, it may be an impulse buy on their behalf near the close of an auction.
If your auction has a clear heading, and description, that they can read quickly, they may buy your product instead of someone else’s.
Work On Your Description
The description of your product is actually a sales letter. Make it attractive, easy to read and understand.
Use spacing so that your prospective buyer’s eyes can skip quickly down the page.
Save them the trouble of going to Domain Tools or elsewhere to do research themselves.
Do it for them, with a link back to Domain Tools, and include all the details available.
By doing this you are adding value to their experience with you, and showing that you are honest about what you are selling.
Being honest is very important.
Positive feedback gives prospective buyers a guide to what you are like to do business with.
I had an example recently where I made an impulse buy, didn’t research the product properly first, and got caught. It wasn’t until after the auction that I found that the item sold did not match the description.
The Price
Are you setting a realistic reserve?
By being realistic I mean, does it cover your cost of buying or registering the domain?
Is it too high? You don’t want to discourage prospective buyers by setting a ridiculous reserve.
While you may feel your product is the best thing since sliced bread, it’s the market that decides the value!
It’s quite easy to become attached to a domain name, especially if you’re the one who first registered it!
You can’t afford this luxury at auction though.
The Summary:
List your auctions to end at a time and date that allows as many people as possible to see and bid on it.
Use a clear, easy to read headline that defines in a glance what your auction is about.
Write a clear, honest description about your product with as much information as possible.
Set a realistic starting price and reserve!
One Last Tip!
Be easy to contact. While you be busy with family or work, you need to have set times to answer questions.
By responding quickly, and giving extra information when requested, you’re gaining a positive feedback rating!
It’s no fun as a buyer asking a question, and not getting a response until the auction’s finished!
Lastly, Good Luck!
Allan Cockerill is a Business Marketing Consultant and writer based in Bathurst, NSW Australia.
A Co-founder of Share2Grow, and owner of Business Help Fast, he has been buying and selling domains for over 10 years.
