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Artperiod (758), Paul F. Meyer,
Investing in Listing Upgrades
eBay Antique dealer Paul Meyer runs his business a lot like the traditional auction company he owned in Europe before moving to Florida in 1994. It's a high-margin, high-touch operation, which invests in customer service and sale promotion, particularly eBay listing upgrades.
Like a traditional auctioneer, Meyer only runs his sales in the spring and fall. For three-month stretches, he lists about 40 items a week in unique series.
This consolidates bidding and increases interest, according to Meyer, who is eBay's leading European pewter seller. "Make it rare, make it interesting," he explains. Meyer spends the rest of the year in Europe buying antiques from dealers, museums, and notable collections.
With a shorter sales cycle, he has to make every sale count. For starters, he runs 10-day auctions exclusively to give clients time to review his property and educate themselves on specific pieces. This costs a little extra, but it provides his clients a kind of "preview" period, says Meyer.
In addition, he doesn't skimp on listing upgrades, particularly for unique pieces that will cover their costs. "If an item is important," says Meyer, "I feature it with everything," including Featured Plus!, Gallery, Bold and Gift Services.
Increasing the visibility of his items is critical because, like a true auctioneer, he lists all of his items at $1 without a reserve to generate bidder interest. "There is a risk involved in that, but the risk is very small because I feature my items," explains Meyer. "A lot of people see them."
Also, Meyer isn't haphazard about his spending. He has done his "calculations," as he likes to say. "I spend about 10% of my turnover on eBay fees and this money is apportioned by the importance of the items," he explains.
Finally, Meyer takes advantage of eBay's PowerSeller banner ad service, running banners in the Antique category throughout his sales. "These banners give me 10% more hits," he explains. "It's very effective."
In the final analysis, Meyer has these words of advice: "Do your research and use every feature you can to promote your business."
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