Determining the Best Days and Times
to List
Another big factor in how successful your auction will be is
when your auction startsbecause that affects when
your auction ends. If you start a seven-day
auction at 6:00 p.m. on a Saturday, it will end exactly seven days later, at
6:00 p.m. the following Saturday. As you'll soon find out, some days and times
are more effective than others.
Best Time of Day to List
Why is the time your auction ends important? Because some of
the most intense bidding takes place in the final few minutes of your auction,
from snipers trying to steal the high bid at the last possible moment. To take
advantage of last-minute bidders, your auction needs to end when the most
possible bidders are online.
For example, if you end your auction at 3:00 in the morning,
most of your potential bidders will be asleep, and you'll lose out on any
last-minute bids. End your auction in the middle of the day, and you'll miss
those bidders who are stuck at work or in school.
Better, then, to end your auction during early evening hours.
That's when the most number of users are online, and when you're likely to
receive the most number of last-minute bids.
Remember, though, that you're dealing with a three-hour
time-zone gap between the East and West coasts. So if you time your auction to
end at 7:00 p.m. EST, you're ending at 4:00 p.m. PSTwhen many potential bidders
are still at work. Conversely, if you choose to end at 9:00 p.m. PST, you just
hit midnight in New Yorkand many potential bidders are already fast asleep.
The best times to endand thus to startyour auction are between 9:00 p.m. and 11:00 p.m.
EST, or between 6:00 p.m. and 8:00 p.m. PST. That way you'll catch the most
potential bidders onlineon both coastsfor the final minutes of your
auction.
Note
eBay operates on Pacific (West coast) time. If you're in
another time zone, be sure to do the math to determine the proper time for your
area.
Note, however, that the best time to
end an auction can be influenced by the type of item you're selling. For
example, if you're selling an item that appeals to grade school or high school
kids, try ending your auction in the late afternoon, after the kids get home
from school and before they head off for dinner. Items with appeal to housewives
do well with a late morning or early afternoon end time. And business items sell
best when they end during normal business hours.
Bestand WorstDays to List
Just as the time of day your auction ends affects your results,
so does the day of the week. While different types of items perform better on
different days, the general consensus is that Sunday is the default "best day"
to end most auction items.
Here's why.
When you end your auction on a Sunday, you get one full
Saturday and two Sundays (the starting Sunday and
the ending one) for a seven-day item listing. Sunday is a great day to end
auctions because almost everybody's homeno one's out partying or stuck at work
or in school. End your auction on a Sunday evening, and you're likely to get
more bidsand higher prices.
There are exceptions, however.
As with the time you end your auction, your ending day might
also be influenced by the type of item you're selling. If you're selling an item
of interest to college students, for example, you might be better ending on a
night during the week because a lot of students travel home for the weekend;
you're more likely to catch them in the dorms on a Wednesday or Thursday night.
Items targeted at churchgoers might also be better ending during the week, so
you don't catch bidders when they're at Sunday evening church services. (Which
makes this one big exception to the Sunday evening rule!)
So if Sunday is normally the best night of the week to end your
auction, what's the worst night?
Friday and Saturday are probably the worst nights to end most
auctions, because a lot of eBay users are out partying on these non-school
nights. End an auction for any item (especially youth-oriented items) on a
Friday or Saturday night, and you eliminate a large number of potential
buyers.
You should also try not to end your auction right in the middle
of a hit television series or major sporting event; some potential bidders might
find it difficult to tear themselves away from the old boob tube. That means
avoiding "Must See TV" Thursdays and any
block-buster sporting events or award shows. And neverrepeat, neverend your auction on a holiday!
Note
Get more specific information on the best days and times for
specific auction items with the research tools offered by Ándale (www.andale.com),
Mpire (www.mpire.com), and other third parties. See Chapter 2, "Researching Your Business Model," for more
details.
Seasonal Variations
When you're planning your projected eBay sales and revenue, you
need to take into account the fact that sales rates vary throughout the year.
It's no surprise that sales go up in November and December, due to the Christmas
buying season. But did you know that sales go downway downin the summertime?
That's right, eBay traffic in general drops significantly during June, July, and
August. Lots of potential buyers are on vacation, and even more are outside
enjoying the sunshine.
Keep these seasonal trends in mind when planning your business.
That might mean putting fewer items up for auction during the summer months, or
holding your highest-potential items for the fall or winter. Just don't assume
you'll keep a steady sales rate throughout all 12 months of the yearbecause you
won't.