May 2, 2008

Ebay Tips #4: Time is Money

I have been using this principle ever since I joined Ebay. This has been a proven and effective strategy to outbid other bidders. Ebay is a worldwide marketplace so you should be aware that we have different time zones around the world and that you could use this principle to maximize your gain on the mistakes of others.

Most occasional Sellers are not aware that their potential buyers otherwise rest and have other things to do so they are not always in front of their PC to monitor auctions. If a seller failed to recognize this fact and starts selling during working hours then there is a less chance that the item would not hit a favorable result. For example, if someone place an item particularly targeting the Philippine Market then, the best time to have his/her auction end should be between 9 a.m. to 10a.m or 9p.m. to 10p.m.. Why? The answer is simple, because these are the times when people start to open their PC in the office where they could check emails and do some personal stuff before they proceed to work and after they arrive from work and start to browse their computers for updates before they go to sleep.

So in your case as a buyer, you should be aware that if a Seller failed to recognize this principle, you would have the chance to make a lesser bid and win the auction because you have lesser number of competition.

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