HOW KAYCEEVENDORS AUCTION PROGRAM WORKS-2


May 12, 2017 Facebook Twitter LinkedIn Google+ Uncategorized



 

How Kayceevendors Auction Program Works- part 2

 

The orientation course on how Kayceevendors auction program works continues. I’ve discussed the importance of getting familiar with our auction system. Of course you know how to register as a member, and how to manage your account. We’ve been through how to submit your auction. Take your time to read my post on how to write a great product title and description. It’s very important. And of course don’t forget to attach enhancements like images, videos etc. I’ve talked about the quality of your image. Your picture has to speak volume about your product. Read about it here.

Understanding how Kayceevendors auction program works cannot be completely achieved without the mention of certain terms which you must come across and make use of. In this part two of this course, I’m going to define these terms especially as they relate to product listing.

Definition of Kayceevendors auction terms

Starting price: Usually in an auction system, at least most auction platforms, biding proceeds in an ascending order (low to high). It is not like the buy now method where the price is fixed. So there is always a starting price. The starting price is the price you wish to start with while bidders will bid something higher than the starting price and go higher and higher till the auctioneer announces a winner. Let’s say a product is worth $100, your starting price can be $20. Then someone bids $30, another bids $40, the one who bid $30 might step up a bit to outbid the one who bid $40. Yet another bidder comes and bid $60, and they continue until the reserve price is reached or exceeded.

Buy now price: This allows you to set up the price you wish to sell the item. This option is for anyone who wishes to buy the product straight away without bidding. A buyer may decide not to bid, in this case he clicks the buy now button and makes his way to the payment page and pay for the product one time. If on the other hand a there is a bid on the product (once someone bids on the product) the buy now price disappears. When that happens, the product can only be purchased through bidding.

Buy now quantity: This is self explanatory. Select the quantity of products you wish to put up for bidding at a time.

Reserve price: What is the minimum price the seller is willing to accept for his product? That is what we refer to as the reserve price. The seller can only sell his product if the reserve price for his item is met or exceeded. If the highest bidder’s bid meets or exceeds the reserve price the, then he purchases the item, otherwise the auction could close without a winner or the seller can offer the highest bidder a second chance to meet the price.

Listing category: When you’re done listing the details of your item, the next step will be to select a category for your product. Are you selling car, mobile phones, electronics…? Whatever it is select a category and probably sub category if applicable.

Listing attachments: These are features like the image of your product, videos explaining your product or teaching how to use your product, music and pdf file. Products with attractive photos and videos get higher bidders than products with poor photos and no videos. So be sure to make use of these enhancing features to boost your auction sales. Attachments are not compulsory but are very necessary if you really want to sell. In fact, its importance cannot be overemphasized.

 

Previous posts:

 

How Kayceevendors Auction Program Works
How to Write Great Product Title and Description for Kayceevendors Auction Sales
How to Succeed with Online Auction Sales
Save 50%, Buy Cheap with kayceevendors.com Auction Program

 

 

 

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