Tulsa

Things You Need to Know

I don’t like to overwhelm with course literature, I’ve found in the past that too much information dilutes the process and  dilutes the importance of what needs to be addressed.  That said, the following points are crucial to this class and should be noted. If at any time you lose the content below,  it’s posted in it’s entirety at  http://www.AuctionWally.com/tulsa


Attention:

• Getting attention is first and foremost with any sale. Speak loudly, clearly and stay on target for YOUR product or service. 
• Find out what works for your product or service and use it.

Choosing Your Category:

• You want to be spot on here.
• Don’t bait and switch.
• Some items are  appropriate for multiple categories.

Listing format: Auctions

• Auctions are best for unique items where value is unknown.
• Auctions are best for HOT items that could very well bring more than their perceived value.
• If you can afford to AND if you’re confident that you’ll get a decent bidding pool, start your item low, and without reserve.
• Create excitement in your auction listing.

Listing format: Fixed Price
 

• Know the market value of your item.
• “Well bought is half sold”
• Do you need new products or new product sources?
• Should you “bundle” your product or service?

Your Listing Title

• This is the most valuable real estate you have online.
• Forget old school hype, write your title for search engines.
• At the same time, figure out a way to stand out and be different.
• Enticement, always use enticement.
• Think like the BUYER.

Start and end dates:

• Do NOT end auctions on Fridays or Saturdays!
• I think 9pm Eastern time is the best time to end an auction, Sundays seem to get the most traffic for me, but any day is good other than Fri. or Sat.

Your Listing Description

• Must have good symmetry with  item pictures
• Size, condition, color variation etc. should be clearly and obviously stated. People scan when they read online. So make it easy for them to find the important details.
• When size is an issue,  place a common object next to the item for comparison.
• If you run a theme of similar auctions, make sure to put in your description that you have similar items currently up for auction.
• Indicate originality or whether the item is a reproduction, 2nd , rare, 1st ed. Etc., provenance, comps and if possible, what it’s selling for elsewhere whenever your competition is selling the item for more money.
• List any credentials you have.
• List your business phone #

Pictures

• If possible, don’t use stock photos, especially if your item is unique, used or an antique.
• Stock pics are used by scammers.
• If  you do use stock pics, go the extra mile in your description
• If there is a condition issue with your item, make sure to use the pictures to indicate this.
• Use clear shots from several angles
• Do not use a busy background
• Consider a photo gallery off of the auction site when appropriate.
• Keep them in a file at least until  the customer has acknowledge satisfaction with the purchase.
• Again, think like the customer. What would you want to see if you were considering this item for purchase?

Monitor your auction and emails while the auctions are running for any questions.


Follow-up:

• The easiest customer to sell to, is one that has already been happy with a purchase.
• Place a business card and promo material in each order.
• Maintain a email list and place them on it along with everyone else you can get to sign up.

Branch out:

• Online Social Networking
• Old School Advertising (especially when it dovetails w/ online networking)
• Bulletin Boards
• Pizza Boxes
• Use the arm’s length rule
• Write article and comment on blogs
• Get testimonials

Useful Product and Information Sources

• www.boocoo.com
• www.salehoo.com
• www.auctionzip.com (as a way to locate live auctions in your area)
• local business’s excess inventory
• yard sales and estate sales
• www.auctionwally.com
• flea markets
• craigslist
• your network of trusted sellers
• You can always contact me at: 978-636-3101 or at info@auctionwally.com