eBay is a well-known online marketplace that has revolutionized how we sell and shop for goods and services. With millions of buyers and sellers worldwide, the eBay live auctions platform has become a go-to platform for everything from rare collectibles to everyday household items.
However, eBay’s innovation doesn’t stop there. In recent years, eBay has introduced a new and exciting way to buy and sell items: eBay live auctions. These auctions offer a unique opportunity for sellers to hold real-time auctions to connect with buyers from anywhere in the world.
In this comprehensive guide, we’ll show you how to get started with live auctions on eBay, from creating your listing to optimizing your strategy for success. We will go through:
- How do live auctions work on eBay?
- Understand eBay live terms & conditions;
- How to run a successful eBay live auction?
So let’s dive in to use all the benefits of the eBay store and take your selling to the next level in this best-selling platform!
Don’t forget to check out the differences between eBay Auction vs Buy It Now if you are about to sell on eBay. LitCommerce has updated the latest news already!
How Do Live Auctions Work on eBay?
eBay Live is a newly launched eBay platform that allows buyers to participate in live-stream events hosted by their favorite brands or sellers. These events feature a three-phase auction process, where buyers can bid on items in real-time.
Each bidding phase goes on for a minimum of 30 seconds. Whenever someone makes a bid, the timer starts again. As more bids are made, each round’s time gets shorter, speeding up the auction. If no bids are made within the first 30 seconds, the auction moves on to the next phase, and a new 30-second timer starts. If someone bids during this round, the timer restarts again. This keeps going until the auction finally finishes.
Throughout the eBay live auctions, the highest bid and bidder’s usernames are displayed, allowing buyers to keep track of the progress of the bidding. The auctioneer oversees the process, announcing each new high bid and determining the winning bidder at the end of the auction.
Once the online eBay auction ends, the winning bidder receives an in-app notification and a message in their inbox. The seller then ships the item to the buyer, completing the transaction. eBay Live offers buyers a unique and interactive shopping experience, with the added benefit of a transparent and fair bidding process.
Understand eBay Live Terms & Conditions
eBay enforces a set of strict and comprehensive Terms & Conditions for all sellers interested in participating in eBay live auctions. These policies are designed to maintain a fair and trustworthy marketplace for buyers and sellers alike. Before joining eBay live auctions, sellers must carefully review and adhere to these guidelines to ensure a seamless and successful auction experience. Below is the brief of eBay Live policies that sellers should strictly follow:
1. Eligibility:
Each Auction House (AH) conducting a Live Auction may have its own eligibility requirements. Participants may need to register and obtain approval for specific Live Auctions, but approval for one auction does not guarantee approval for others.
2. eBay’s role:
eBay is not an auction house or auctioneer. It acts as a passive conduit for communication, allowing users to participate in live auctions on eBay conducted by AHs.
3. Control:
eBay has no control over the quality, authenticity, safety, or legality of items, AH content, or the ability of AHs to sell items or buyers to complete transactions.
4. Release:
Users release eBay from claims arising from disputes with AHs, and they waive protections limiting the coverage of this release.
5. Auction houses:
AHs list auction items and determine auction details, which can change without notice. Some items may not be included in an eBay live auction event.
6. Absentee Bidding:
Participants can use absentee bidding, and eBay will place bids on their behalf up to their maximum bid amount. Absentee bidding ends when the Live Auction starts.
7. Bidding, buying, and conditions of sale:
AH Terms and Conditions and eBay govern bidding and participation in Live Auctions. The AH acts as an auctioneer and has the final determination on bidding and item sale.
8. Video and audio:
Audio and video aspects of Live Auctions are for entertainment purposes only and should not be relied upon for bidding.
9. Privacy:
EBay’s User Privacy Notice governs user information provided to eBay, while information given to AHs or third parties follows their respective privacy policies.
10. No warranty:
eBay disclaims implied warranties to the extent permitted by applicable law, and some jurisdictions may not allow the disclaimer of implied warranties.
11. Limitation of liability:
eBay’s liability is limited under specific circumstances and may vary based on the applicable law.
How to Run a Successful eBay Live Auction?
While many sellers may find eBay fees too high, the potential profits from hosting live auctions on eBay can be considerable. If you’re interested in tapping into this lucrative market for live-stream auctions, here is a comprehensive guide to help you get started.
#Stage 1: Prepare for an eBay online auction
1. Select the right items for live auctions
eBay live auctions currently have limited availability, are restricted to specific categories, and will slowly expand to include others. This is because these auctions are just eBay live beta. Those categories are:
- Collectibles: sports trading cards, collectible toys, and comics.
- Luxury: luxury watches, handbags, and jewelry.
If your products fall within these categories, you may have the opportunity to participate sooner. However, for sellers in different categories, it is expected that the wait for access to eBay live auctions may be considerably longer. The platform is taking a deliberate approach to its expansion, which might require some patience for sellers eager to join.
You can see not every item is suited for live auctions on eBay. So, you should consider what sells best on eBay that will excite potential buyers and encourage lively bidding. Don’t overlook the condition of the item – items in good condition or those that are new or nearly new can fetch a higher price. Also, you better ensure your items are legally permissible to sell and comply with eBay’s selling policies.
2. Set competitive starting prices and reserves
Setting the right starting price can make or break your auction. Set it too high, and you may deter bidders; set it too low, and you may not meet your desired earnings on your eBay live auctions. A good strategy is to set a starting price that covers your lowest acceptable price. If you are selling a high-value item, you might want to set a reserve price – the minimum amount you’re willing to sell the item for. However, be aware that this could dissuade some bidders.
3. Create detailed item listings and descriptions
A good listing is clear, concise, and comprehensive. It must include all the information a potential buyer would need: the brand, model, size, color, condition, and any special features.
While listing products for live eBay auctions, be honest about any flaws – it’s better to lose a few bidders than to deal with disappointed buyers and potentially negative reviews later.
And, if you want more potential customers to find your eBay live auctions, make sure to use keywords that buyers might use in their search for your items’ titles and descriptions.
4. Upload high-quality images and videos
A picture is worth a thousand words, and this is especially true in online auctions. Clear, well-lit images that showcase the item from various angles will help bidders make an informed decision.
Consider uploading a video if you’re selling a product that moves or makes a sound. Make sure your visuals accurately represent the item to avoid disputes later.
5. Schedule the eBay live auction event and promote it in advance
Timing is everything. So you should schedule your eBay live selling at a time when most of your potential buyers are likely to be online.
Once your auction is scheduled, you can promote your upcoming auction listing with eBay advertisements. Plus, you can use social media, your email list, and any other channels you have at your disposal to acknowledge possible buyers about your next eBay live action. A well-promoted auction can draw a larger audience and potentially increase the final sale price.
#Stage 2: Run an eBay livestream shopping
1. Overview of the live auction process
Before participating in eBay auction sites, you must become an eBay seller. Afterward, you must sign up as a live auction seller to join the eBay auction site. eBay seeks trustworthy sellers meeting stringent criteria to host a live auction. Presently, eBay Live is in its beta phase and available to a limited number of sellers. If you’re interested in hosting an eBay live beta event, you can complete the eBay Live Seller Interest Form. Once eligible, the platform will notify you promptly, allowing you to commence eBay live streaming.
After that, follow the guide provided by eBay to learn more about how to host a live auction and make the most of this exciting selling opportunity.
2. Tips for engaging with potential bidders during the eBay auction online
Engagement is a key point if you want to know how to increase eBay sales while holding any live-streaming auction. So as a host in eBay live auctions, you should keep the atmosphere lively and interactive. Below are some tips you can employ to engage with potential bidders:
- Interact with bidders in real-time by responding to their comments and questions during the live stream;
- Showcase the product’s unique features and benefits to capture bidder interest;
- Offer special deals or discounts exclusively for the live-stream audience;
- Encourage bidding and create excitement through limited-time offers and incentives;
- Provide clear and detailed instructions on how to place bids during the eBay live selling;
- Express gratitude and appreciation to bidders for their participation and support;
- Follow up with winning bidders promptly after the auction to finalize the transaction.
3. Utilize eBay’s real-time bidding features
When live streaming on eBay, you can take advantage of several real-time bidding features to engage with potential buyers and make your auctions more dynamic and interactive. Some of these features include:
- Live bidding: During the eBay live auction event, buyers can place bids in real-time as the auction progresses, creating an exciting and competitive atmosphere.
- Real-time bid notifications: eBay provides real-time bid notifications to both the seller and bidders, keeping everyone informed of the latest bids and increasing the sense of urgency.
- Live chat: Sellers can interact with bidders through live chat, answering questions, providing additional details about the item, and building a rapport with potential buyers.
- Bid increments: Sellers can set bid increments, ensuring that bids increase by a predefined amount during the live stream, making the bidding process more structured.
- Reserve price: Sellers can set a reserve price for their eBay online auctions, assuring that the item will not be sold below the minimum acceptable price.
- Live viewers count: eBay shows the number of live viewers during the eBay live auctions, signaling the popularity of the auction and potentially attracting more bidders.
4. Handle bids, reserves, and ending the auction
First and foremost, it’s essential to monitor incoming bids regularly to stay updated on the auction’s progress. This will help you gauge your item’s interest level and make informed decisions throughout the eBay live commerce event.
If you find it difficult to reach the reserve price you initially set, you can adjust it to a more acceptable minimum amount. On the other hand, if your item has already reached the desired price or met the reserve during the eBay live selling, you can end the auction early.
In certain situations, you may encounter multiple bids on identical items or face the challenge of a winning bidder backing out. In such cases, you can utilize the Second Chance Offer feature to extend the opportunity to other interested bidders. This provides an excellent way to secure a sale even after the original auction has concluded.
5. Deal with technical issues during the live auction
While eBay live auctions can be exciting and engaging, technical issues are sometimes unavoidable. Despite careful planning, glitches in internet connectivity, streaming equipment, or software may occur. To minimize their impact, ensure you have a competent technical support team on standby to address any problems that arise quickly.
Plus, having backup plans ready, such as alternative internet connections, to mitigate potential disruptions and provide a smooth experience during the live auction is a good idea. Preparing for technical challenges can help ensure a successful event despite unforeseen issues.
#Stage 3: Process post-auction after the eBay livestream
1. Communicate with winning bidders and facilitate payments
After the auction ends, it’s important to communicate with the winning bidders immediately. You can send them a congratulatory message and guide them through payment.
2. Arrange to ship and handle logistics
Once you’ve received payment after eBay live stream auctions, ship the items promptly. You can utilize eBay’s suggested shipping carriers or opt for your preferred courier services. To ensure a smooth transaction, use reliable courier services and provide tracking numbers to your buyers.
Moreover, make sure to package the items securely to prevent any damage during transit and provide tracking numbers to your buyers on time. A timely and secure shipment process enhances customer satisfaction and builds trust in your eBay store.
3. Handle non-payment or disputes
Per eBay rules, buyers are expected to pay within 4 days of buying or winning an auction. But sometimes, payments may not come in right away after your eBay live auctions. In such cases, you can send invoices to remind buyers or cancel the order if needed.
If a buyer asks for a refund through their payment provider, also known as a payment dispute, you have 5 days to respond. The buyer’s payment institution makes the final decision.
4. Request feedback from successful buyers
While direct feedback requests are not allowed, there are some indirect approaches that can help sellers encourage buyers to leave feedback voluntarily.
- Send emails: After the transaction is completed, consider sending a follow-up email to the buyer expressing your appreciation for their purchase and kindly asking for their feedback.
- Well-pack the items: Ensure that the items are securely and professionally packaged to create a positive impression on the buyer.
- Include a note card within the packaging: Consider adding a thank-you note or a small gesture of appreciation along with the item to encourage the buyer to leave feedback.
Read more: eBay Dropshipping: Everything you need to know.
eBay Live Auctions – FAQs
- Does eBay still do auctions?
Yes, eBay still facilitates auctions, which is one of the features that made it one of the top marketplaces for selling products. eBay offers both traditional timed auctions, where buyers place bids over a specific period, and live auctions, where buyers compete in real-time. Sellers can choose the auction format that best suits their selling style and the type of goods they are offering.
- How do live auctions work on eBay?
eBay live auctions emulate the excitement of a physical auction house in a virtual environment. Sellers list items for the live auction, and at the scheduled time, buyers can place real-time bids as the auctioneer manages the process. The highest bid at the close of the auction wins the item. It’s a dynamic, interactive experience that allows for instant competition among bidders.
- How can sellers qualify to participate in live auctions?
Sellers must meet specific requirements to participate in eBay live auctions. First, they need to have an active eBay account in good standing. They also need to demonstrate expertise in the items they intend to sell, which is typically verified by a history of successful transactions in that category. Some categories may require additional approval. It’s advised to check eBay’s current live auction eligibility requirements for the most accurate information.
- How does real-time bidding work, and what are the advantages?
Real-time bidding allows buyers to place bids on items during the eBay live shopping process. This mimics the traditional auction environment online, creating an interactive, dynamic experience. The main advantage is the immediate competition, which can drive up the final selling price. It also gives bidders the opportunity to react instantly to other bids and the host. For sellers, real-time bidding can result in quicker sales and potentially higher profits.
Get Ready For eBay Live Auction!
In conclusion, eBay live auctions offer an exciting and interactive selling platform for sellers to engage with potential buyers in real-time. It allows for dynamic bidding and increases the visibility of your products. While the process may require preparation and adaptation to technical challenges, eBay livestream auctions provide a unique opportunity to boost sales and reach a broader audience of enthusiastic bidders.
If you’re eager to delve deeper into the world of eBay, explore our Blog and join our Facebook community, where a treasure trove of valuable insights awaits.
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