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Which auction duration to select on eBay


1 Day Auction? 3 Day Auction? 5 Day Auction? 7 Day Auction? 10 Day Auction?



If you are selling an item on eBay what is the perfect duration of an auction? 1 Day Auction? 3 Day Auction? 5 Day Auction? 7 Day Auction? 10 Day Auction? Logic may be that the longer an auction runs the better sale price you will get. That is what I thought but it is not the case. Hopefully I can shed some light for the eBay seller if it makes a difference how long your auction runs.

For the first analysis I am using top video game auctions for 2011 focusing on Halo Reach for the XBOX 360 that has tracked to date over 10,000 auctions.

    1 day vs. 3 day auction: Overall the average sale price increased by 2.54% from the 1 day to the 3 day auction.

    3 day vs. 5 day auction: Overall the average sale price increased by 1.56% from the 3 day to the 5 day auction.

    5 day vs. 7 day auction: Overall the average sale price increased by 1.42% from the 5 day to the 7 day auction.

    7 day vs. 10 day auction: Overall the average sale price increased by 2.43% from the 7 day to the 10 day auction.

    1 day vs. 10 day auction: Overall the average sale price increased by 8.18% from the 1 day to the 10 day auction.

    So after looking at this study you will probably go setup all your auctions for 10 days......Stop....Not so fast! Read the 2nd study.

    Video Game
    Auction Duration
    1 Day
    3 Day
    5 Day
    7 Day
    10 Day
    Halo Reach  $    26.45  $    27.12  $    27.54  $    27.93  $    28.61

    3 Day Auction

     

For the 2nd analysis I am using a sampling of the top 50 video game auctions for 2011 tracking over 100,000 auctions.

    1 day vs. 3 day auction: 84% of the video games sampled showed an increase in average sale price from the 1 day to 3 day auction. Overall the average sale price increased by 1.75% from the 1 day to the 3 day auction.

    3 day vs. 5 day auction: 24% of the video games sampled showed an increase in average sale price from the 3 day to 5 day auction. Overall the average sale price decreased by 4.66% from the 3 day to the 5 day auction.

    5 day vs. 7 day auction: 46% of the video games sampled showed an increase in average sale price from the 5 day to 7 day auction. Overall the average sale price decreased by 2.59% from the 5 day to the 7 day auction.

    7 day vs. 10 day auction: 62% of the video games sampled showed an increase in average sale price from the 5 day to 7 day auction. Overall the average sale price increased by 4.38% from the 7 day to the 10 day auction.

    The statistics tell you at the very least you should go for a "3 Day Auction". If you are a serious auctioneer 1.75% is a significant number. If you sold 10,000 video games that is additional $6,100 you can add to your bottom line.

    Video Game
    Auction Duration
    1 Day
    3 Day
    5 Day
    7 Day
    10 Day
    Halo Reach  $    26.45  $    27.12  $    27.54  $    27.93  $    28.61
    Call Of Duty: Black Ops  $    39.89  $    41.35  $    41.59  $    41.06  $    42.28
    LA Noire  $    36.19  $    38.65  $    37.94  $    37.06  $    37.30
    Wii Just Dance 2  $    32.13  $    30.31  $    33.19  $    33.31  $    35.24
    Killzone 3 (2011)  $    38.39  $    38.82  $    37.36  $    36.48  $    37.09
    Mortal Kombat  $    41.20  $    41.77  $    41.03  $    39.83  $    38.35
    Portal 2  $    35.91  $    36.57  $    35.22  $    34.02  $    33.43
    Gran Turismo 5  $    35.51  $    36.20  $    36.94  $    36.88  $    38.15
    Call Of Duty: Black Ops  $    40.38  $    40.58  $    40.68  $    41.10  $    40.06
    LittleBigPlanet 2  $    40.84  $    42.11  $    40.49  $    41.11  $    41.85
    Dance Central  $    35.73  $    36.56  $    34.98  $    35.84  $    36.75
    Wii Donkey Kong Country Returns  $    34.35  $    36.17  $    35.38  $    35.42  $    39.72
    Dead Space 2  $    34.90  $    36.71  $    35.50  $    33.93  $    33.41
    Homefront  $    30.70  $    30.76  $    29.35  $    29.06  $    29.98
    Crysis 2  $    38.27  $    38.82  $    36.22  $    34.22  $    33.14
    Wii Disney Epic Mickey Standard Edition  $    26.78  $    27.66  $    26.64  $    26.63  $    27.17
    MLB 11: The Show  $    44.32  $    45.40  $    43.92  $    43.90  $    47.38
    Marvel vs. Capcom 3: Fate of Two Worlds   $    41.57  $    42.50  $    40.29  $    40.05  $    38.59
    Mass Effect 2  $    33.02  $    30.14  $    24.01  $    25.29  $    47.20
    Brink    $    35.44  $    35.48  $    34.59  $    33.42  $    30.76
    NBA 2K11  $    26.35  $    26.67  $    26.69  $    26.73  $    27.36
    Wii New Super Mario Bros.  $    35.49  $    36.61  $    36.89  $    37.09  $    34.33
    Marvel vs. Capcom 3: Fate of Two Worlds   $    39.21  $    40.03  $    39.71  $    37.27  $    38.43
    NBA 2K11  $    26.69  $    27.59  $    27.33  $    27.67  $    28.89
    Kinect Sports  $    32.58  $    33.30  $    37.62  $    38.82  $    35.19
    Pokemon White Version  $    28.19  $    29.37  $    29.49  $    28.46  $    28.17
    Bulletstorm  $    36.18  $    36.31  $    33.84  $    32.53  $    32.33
    Pokemon Black Version  $    27.47  $    29.18  $    29.03  $    28.34  $    29.71
    Call Of Duty: Modern Warfare 2  $    27.82  $    29.33  $    28.87  $    29.31  $    30.20
    Tiger Woods PGA Tour 12: The Masters  $    43.55  $    40.59  $    39.26  $    40.21  $    39.45
    Red Dead Redemption: Undead Nightmare  $    20.10  $    20.30  $    19.79  $    20.62  $    21.15
    Michael Jackson The Experience Wii    $    33.43  $    34.18  $    34.08  $    34.63  $    33.76
    Wii Sport Resort  $    35.04  $    37.53  $    34.10  $    33.64  $    73.45
    Need for Speed Hot Pursuit  $    25.58  $    25.80  $    25.17  $    25.34  $    27.95
    inFAMOUS 2  $    38.60  $    42.07  $    41.43  $    41.33  $    39.58
    Tiger Woods PGA Tour 12: The Masters  $    41.04  $    41.66  $    39.31  $    39.79  $    38.65
    Your Shape Fitness Evolved  $    34.33  $    36.01  $    34.85  $    34.93  $    37.25
    Battlefield: Bad Company 2  $    22.98  $    25.58  $    25.66  $    22.70  $    21.53
    FIFA Soccer 11  $    36.75  $    38.52  $    37.79  $    37.41  $    34.38
    NASCAR 2011    $    37.55  $    38.96  $    38.95  $    38.98  $    40.81
    Kinectimals  $    28.05  $    27.51  $    28.96  $    27.61  $    31.51
    Major League Baseball 2K11  $    36.99  $    36.44  $    35.85  $    36.50  $    31.28
    Mario Sports Mix Wii  $    36.88  $    39.04  $    36.46  $    35.24  $    37.21
    Madden NFL 11  $    32.86  $    31.14  $    31.20  $    31.54  $    40.29
    Bulletstorm  $    36.31  $    36.96  $    34.03  $    31.43  $    36.44
    Lego Pirates of the Caribbean   Wii  $    36.85  $    38.03  $    37.69  $    38.11  $    39.64
    God of War III  $    26.76  $    27.15  $    26.54  $    31.05  $    35.67
    Tiger Woods PGA Tour 11  $    19.23  $    18.48  $    18.31  $    17.82  $    19.91
    Mortal Kombat vs. DC Universe  $    16.28  $    15.27  $    14.75  $    14.18  $    14.48
    Madden NFL 11  $    32.39  $    34.39  $    32.11  $    31.52  $    28.25
    Total:
     $    34.93  $    35.54  $    33.88  $    33.01  $    34.45

     

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AUCTION DEFINITIONS

Bid Price (BID)

A Bid Auction is where a seller sets an opening price for a product and potential buyers opt to win the product by offering a higher price (bid). This bidding process moves the price up and at the conclusion, the highest bidder wins the item.

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A BIN auction is where a seller sets a fixed price for the product and a buyer can choose to pay this price and immediately win the item.

In some instances the buyer can make an offer below the fixed price giving the seller the option to accept and close the sale.

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