discuss 4 auction tips suggested by Flippa

[BuyBrandWeb.com]

I have just received a message saying that "Our top tips for achieving the best sales price for your auction:

1. Low start prices result in sales - in fact if you start at under $100 you're 7 x more likely to sell!
2. Avoid placing a Buy It Now price until the final hour. By doing this, you can add an extra 10% to your final sales price.
3. Try a no reserve auction. Typically when auctions are 'on the market' they receive the most attention from Buyers
4. Promote your auction on the website for sale, or park your domain with our new sales pages (instruction how to do this are contained in the header of every one of your listings)
5. Enable Flippa Escrow as a payment method on your auction. Buyers actively seek auctions where they know they will be protected throughout the handover process. Happy selling!"

So I want to discuss / share my opinion here

Here is my suggestions

• I completely agree with Flippa on BIN. If you set BIN to the auction couple of days before … then you are only limiting/ pricing the domains. Sometimes buyer may think BIN is too high and there will be a chance to avoid the auction and Post the BIN when two bidders are fighting (.i.e., when they are on high :P LOL)
• · Don’t post comments regularly (especially 1 hour left… even all watchers notified by Flippa or hope to see your bid)
• · Don’t list the domain if you are not interested to sell (recently seen LLL.com auction even seller hasn't accepted bids) or if you set high reserve. It’s better to wait for an end user rather than listing
• · No reserve auction- very risky option but this will drive the prices
• · Don’t post auction stats like 20 watchers, 10 bids, and 2000 views. You have paid for listing so obviously more exposure to your listing…Sometimes you may get more views if list good domain!

That’s the reason Flippa gave Most Watched option!

The views and opinions expressed on this article/discussion are purely are my own (You may agree or disagree)

As always, you are invited to share your opinions here

 

[Omar Negron]

Try a no reserve auction. Typically when auctions are 'on the market' they receive the most attention from Buyers

This one is SUPER risky but it also usually provides the greatest reward based on what I've seen in Flippa auctions and what happened with some of mine.

I had an auction some time ago where I added a buy it now a few days before the end of the auction for 10K (was a website sale, not solely domains), which someone decided to purchase it at that price instead of going into a bidding war. So buy it now options work could be a good strategy depending on when your auction is ending.

Thanks for this info and your input.

-Omar