12 {{ upvoteCount | shortNum }}
12 {{ upvoteCount | shortNum }}

Bad idea to start Flippa auctions at $1?

by BloggingPro
9 replies
Simple question, especially for those who have listed on Flippa before. Is it a bad idea to start an auction at a $1?
#auctions #bad #flippa #idea #start #starting
  • Profile picture of the author PPV Guru
    Depends on how much the site is making you a month and how much you want to sell it for. I would try to not start with a low that I absoultely cannot bare to live with if someone one that bid. If $1 is well below that limit, you should raise it up a bit.
    {{ DiscussionBoard.errors[3772258].message }}
    • Profile picture of the author Daniel44
      I usually do, and then set a reserve price for about $99 and it usually bids up to the hundreds it gains a lot more viewers for that time that you are on the "new listings" section.

      Those are the results from my experimentation, you probably want to do your own!

      Bottom Line: Use the reserve price to your advantage!

      Daniel
      {{ DiscussionBoard.errors[3772274].message }}
    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by PPV Guru View Post

      Depends on how much the site is making you a month and how much you want to sell it for. I would try to not start with a low that I absoultely cannot bare to live with if someone one that bid. If $1 is well below that limit, you should raise it up a bit.
      It would be the seller's option to actually sell if the price fell below the reserve (if a reserve was placed). It's a viable tactic in developing social proof for interest in the listing.
      Signature
      {{ DiscussionBoard.errors[3779094].message }}
  • Profile picture of the author Ant Marshall
    It really depends on your history and the quality in the websites you have flipped.

    Sure, $1 are going to get a lot more people interested in your website BUT, (Big But) how does this look when it comes to how much the website REALLY looks like it's worth?

    I haven't used flippa but like in anything I've ever done I've branded myself and what I have sold. What I mean by that is that I have literally given someone what they wanted. No undercuts. I only ever over-deliver. If you KNOW your website is worth x amount, then SELL it for x amount. If it's not worth anything but your hoping to get a bit of cash for it, then really it's not worth anything is it?

    The point I'm making is that you change up a gear and do what other people aren't doing. There is so many websites starting for a dollar. Put the work into a website, make it work. If it doesn't, just LEAVE it. Focus on something else that is WORTH flipping and charge the nice prices. This way, people are going to know every website you flip has been worked on and has created revenue. They're going to KNOW your websites are worth buying. Because you have branded yourself that way.

    Good luck out there,

    Anthony Marshall.
    Signature

    If you haven't made money online yet then just send me a PM and let's see what we can do together.

    Did my post help? Click thanks! ->

    {{ DiscussionBoard.errors[3772308].message }}
  • Profile picture of the author Sheryl Polomka
    I am always hesitant to start at $1 - just in case but I know people who wouldn't do it any other way and always get lots of watchers and bidders by starting out at $1. I think it all depends on the sites value and also how well you sell the site with your listing.
    Signature
    {{ DiscussionBoard.errors[3772437].message }}
  • Profile picture of the author BloggingPro
    Thanks for all the feedback guys. I've decided to increase it from $1 to $10 after looking at related sites.
    Signature
    You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
    {{ DiscussionBoard.errors[3772641].message }}
    • Profile picture of the author Piper Anderson
      I've experimented with the $1 starting bid, but AlWAYS had a decent reserve price in the background. I'd never just list a site with a starting bid of $1 with no reserve!

      But, after doing some experimenting, I've found that I actually get more watchers and usually more bids if I start out with a starting bid of $10. This is how I initially did things when I first started selling websites, and I've generally stuck to it, but after reading about so many people recommending the $1 starting bid, I gave it a try on a few auctions. I quickly went back to my standard $10 starting bid.

      I think if you have a slightly higher starting bid, people will see more perceived value in your site and take it more seriously, hence the more watchers and bidders with the $10 starting bid. But be careful to not set your starting bid too high, either, as that will discourage bidders. I've found that anything over $25 for a starting bid on moderately priced websites will lower the amount of bidders I get.

      So, I guess what I'm saying is I think a $10 starting bid is best for mid-priced sites (like the ones I sell).
      Signature
      WSO 1: Over 500 Sold! [RAVE REVIEWS!] REVEALED: How I Make Over $4,000 a Month Flipping a Site a Day! You Can, Too!

      WSO 2: Only $5! Want to Know What Actually Works? Fifteen WSOs & IM Tools That Really Made Money!
      {{ DiscussionBoard.errors[3773306].message }}
      • Profile picture of the author Coby
        Originally Posted by Piper Anderson View Post

        I've experimented with the $1 starting bid, but AlWAYS had a decent reserve price in the background. I'd never just list a site with a starting bid of $1 with no reserve!

        But, after doing some experimenting, I've found that I actually get more watchers and usually more bids if I start out with a starting bid of $10. This is how I initially did things when I first started selling websites, and I've generally stuck to it, but after reading about so many people recommending the $1 starting bid, I gave it a try on a few auctions. I quickly went back to my standard $10 starting bid.

        I think if you have a slightly higher starting bid, people will see more perceived value in your site and take it more seriously, hence the more watchers and bidders with the $10 starting bid. But be careful to not set your starting bid too high, either, as that will discourage bidders. I've found that anything over $25 for a starting bid on moderately priced websites will lower the amount of bidders I get.

        So, I guess what I'm saying is I think a $10 starting bid is best for mid-priced sites (like the ones I sell).
        Very Logical Explanation! I actually have a listing that I am just waiting to pay for it to go live (it's my first) and I have been holding off because of the small details like this one...

        And if you think about it. Ten dollars is like the lowest double digit number and extremely affordable for pretty much anyone... but at the same time, on the perceived value spectrum, this is TEN TIMES as much as a dollar...

        Great tip Piper!
        Signature
        .
        .
        {{ DiscussionBoard.errors[3773555].message }}
  • Profile picture of the author TryBPO
    Here are a couple of tricks we've found that seem to be useful:

    1. It's better when you have multiple auctions going on at the same time...they tend to cross-promote each other.

    2. If you have one auction going and plan to add another...add the second auction and then go "featured" with the first auction...you'll get quite a few more hits on the first that bleed into the second.

    3. $1 NO reserve auctions get quite a few more views and can push your price up. Although, I'm getting a bit nervous with the one we have here: https://flippa.com/133558-148month-5...#comment493479 I really don't want to give it up for $500! lol

    4. Shorter auctions seem to be better. you'll get more people watching your auction and more visits when you first list...and then a ton towards the end. You don't want a long period between that first burst of visits and the final auction or they may lose interest.
    Signature
    Website Brokers - We can help you sell businesses making $500 to $50K per month.

    Free Website Valuation - How much is your website really worth? Find out here, free.
    {{ DiscussionBoard.errors[3779009].message }}

Trending Topics