Avoid These 7 Profit-Draining Mistakes: Tips for Online Estate Auction Sellers

Running an online estate auction can be a lucrative venture, but even seasoned sellers often fall prey to avoidable mistakes that hinder their success. In this blog post, we'll explore seven common pitfalls that sellers must steer clear of to maximize their profits and create a seamless auction experience for both buyers and themselves.

1. Poor Quality Photos

The saying "a picture is worth a thousand words" holds true in online auctions. Failing to provide clear, high-quality images can deter potential buyers from bidding on your items. Invest time in capturing multiple angles and close-ups, showcasing each item's fine details and condition.

Check out our Top 10 AN Photography Tips for sellers.

2. Poorly Chosen Lead Photos

The lead photo is the first impression buyers get, so choose wisely. If it fails to highlight the most attractive or valuable aspect, potential buyers may scroll past it without reading the item description. For lots with multiple items, avoid featuring just a single item as the lead photo. Instead, be sure to showcase the entire lot so it's clear there are multiple items. 

3. Inaccurate, Incomplete or Blank Item Descriptions

Failing to provide comprehensive descriptions and crucial details about items in your auction can cost you dearly. Customers want to know precisely what they're bidding on. A lack of information can lead to dissatisfaction and disputes. Avoid vague terms like "condition consistent with age" without providing explicit details, as it may leave buyers uncertain about the actual state of the item, leading to disappointment and possibly leading to charge-backs and a damaged reputation.  It's not worth it.

Bonus Tip: Don't 'spam' listings with non-applicable keywords in leads and descriptions. Rather, attract interested buyers by using the top keywords that bidders use when searching for similar items.

4. Neglecting Promotion and Marketing

Creating a great auction is just the first step; you must also ensure it reaches the right audience. Leverage social media, listing sites, and other online platforms to promote your auction effectively. Engaging content and eye-catching visuals can entice more potential buyers.

5. Lengthy Auction Durations

Extending auctions beyond a reasonable time frame can lead to buyer fatigue and decreased interest. Opt for shorter auction durations to maintain buyer engagement and foster a sense of urgency to bid.

6. Slow Response Times & Inadequate Customer Support

Prompt and reliable customer support is crucial for a successful auction. Respond to inquiries swiftly and courteously, addressing any concerns or questions raised by potential bidders. Respond to post-auction problems professionally and take ownership of cataloging errors or items not-as-presented at pick-ups. Avoid blocking bidders without real justification. Excellent customer service can build a loyal buyer base and encourage repeat business.

7. Improper Packaging and Shipping

Neglecting proper packaging and shipping can lead to damaged items during transit, which can anger buyers and result in negative feedback. Invest in sturdy packaging materials and provide accurate shipping costs upfront to avoid surprises for buyers.

By avoiding these seven common mistakes, online estate auction sellers can enhance their chances of success and profitability. Prioritize professionalism, accuracy, and customer satisfaction to create a thriving online auction business. Remember, every auction is an opportunity to build your reputation and expand your audience, so seize it wisely!

Written by:

AuctionNinja Staff

July 26, 2023     Updated 12:08 PM

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