Customers respond positively to product incentives that create a sense of urgency! The biggest motivating factor for customers that makes auctioning your products successful is the active time limit. Keep your customers engaged by auctioning special product offers and limited-edition products that are only available for a limited time in the Auction House!
Acquire High Reviews From Customers
When you auction your products, customers are inclined to further engage with your store and product list as they continuously place bids. After an auction ends, customers who were in a bid war with each other will have a more immersive connection to your store! With the fair, fun, and interactive environment that the Auction House creates, customers will always appreciate your participation and engagement. We make hosting auctions fair for you, which in turn makes it fair for your customers, generating high rating reviews for your store!
Get Your Auctions Featured!
When adding a new product auction, the most important qualification to getting featured is to have high quality pictures of your product. Unique products, detailed descriptions, and quality pictures are the three categories that will get your Auction featured! When trying to get featured what is important is to have great pictures, good description and especially things from the ordinary help. Doing A Package Deal, having a theme around it a top quality glass a low price all help the chance on being featured
First Time Auctioning a Product? Read Our Auction FAQ Section Below to Learn How to Auction Like a Pro!
How Do I Host An Auction?
First, click on the 'My Account' link go to your Vendor Dashboard. On the left side of your Vendor Dashboard, click the section titled 'Auctions'. Then, click the button on the top right of the screen titled 'Add New Product Auction' to add and list your product for auction. Happy Auctioning!
What Products Should I Auction?
-AUCTION OLD STOCK! Multiple studies show that having an overstocked, cluttered retail store makes it more difficult for customers to decide on a product to purchase, resulting in less completed sales. Auctioning your older stock is an efficient way to clear up space for new products while still making money!
-AUCTION NEW, TRENDING PRODUCTS! Auction your products that you know to be in high demand. Whether it's a product that is always flying off the shelves, or a niche pop-culture themed piece, auctioning high demand products are a go-to way to generate high returns on your product!
-AUCTION PACKAGE DEALS! You don't have to have only one product available per auction! List an entire set of products for auction, whether its a full, themed set or an assortment of accessories, auctioning package deals is a guaranteed way to draw bids.
Where Do I Start Pricing Auctions At?
When putting your product in the Auction House, the average and suggested starting bidding price is 30%-40% of the market value of the product. Some Vendors start their bidding price lower than that, ranging from as low as 20%-25% of the market value of their product in order to create more customer interest and engagement. Tegridy Glass suggests that you try hosting multiple auctions with both ranges of starting prices to find out what works best for your Shop!
Why Should I Enable Proxy Bidding On My Auction?
What is Proxy Bidding? Enabling Proxy Bidding gives your customers the option to set the maximum price that they would be willing to pay for a product. This then allows their computer to bid for them by the set bid increment until someone bids higher than their set maximum bid. Why should you enable Proxy Bidding? For customer service! Customers are more likely to bid in auctions that feature a Proxy Bidding Limit because it allows them to win an auction without having to revisit it after the first time.
Why Should I Enable Automatic Relisting On My Auction?
What is Automatic Relisting? Enabling Automatic Relisting on your auction will automatically restart the auction after the time runs out if no bids are place on the product. Why should you enable Automatic Relisting? You should enable Automatic Relisting when you want your auction to always stay active until the product sold. Save yourself time on re-hosting auctions by enabling Automatic Relisting!
Sell off old stock and market your trending products more efficiently