What does it take to do well on Trade Me these days? Here are a dozen tips to spice up your trading:
1.Know What’s Hot
What are the most popular items on Trade Me right now, within your chosen category? Here’s one way to find out:
(a) Click on the ‘Browse’ button, just under Kev the Kiwi.
(b) Find your category (we’ve chosen Carpet, Tiles & Flooring in the Building & Renovations section for our example).
(c). Click on the link to take you to the chosen section. Once you get there, you may want to drill down a little further (in our example, we might refine the search to focus on carpets).
(d) Once you’ve reached your chosen destination, use the “sort by” feature and sort by “”Most Bids”:
(e) Browse the top results and you’ll see what’s currently most popular within the category — very useful whether you’re selling or buying, especially in categories driven by fashion, technology or price.
2. Know What’s Cool
Want to see what auctions the Trade Me team think are cool — and they should know! Head here: http://www.trademe.co.nz/cool-auctions. Content refreshes daily.
3. Know What’s Selling
The Trade Me numbercrunchers are always hard at work analysing what’s happening on the site — and once a month they publish a roundup of the percentages of items that sell in each of Trade Me’s categories. It’s a great way to identify how well you’re doing versus your competitors and peers — and even whether you’re selling the right types of products (grass on the other side always sells better, of course).
You’ll find the monthly Sell-Through Statistics here: http://www.trademe.co.nz/Community/SellThroughRates.aspx
4. Know What Others Paid
Wanting to sell that seldom-used coffeemaker but not sure what you might get for the effort? By using Trade Me’s Expired Listings search facility you can identify recent prices and determine whether it’s worth the effort of posting on Trade Me.
(a) Head to the search box at the top of the Trade Me listings and click on “More Options”.
(b) Type your search term into the box (and make certain that “Expired Listings” is selected).
(c) Sort the results by “Most bids” and the items that actually attracted bids will rise to the top of the results.
(d) Check out the comparative prices paid for items similar to yours (for up to the last two months) and make your decision.
5. Know What Others Think Of The Seller
Before you buy anything of value on Trade Me, check out the reputation of the seller — see the feedback score in the “About The Seller” box near the bottom of each auction.
At least 100 Feedback Ratings and 100%? Great! Otherwise, dig a little deeper — click on the feedback number and read the actual feedback posted about this seller (especially any negative comments).
6. Know On What Days & At What Times To Finish Your Auction
Best days to close your auctions (because more buyers are browsing on Trade Me): Sundays, Mondays, Tuesdays. Best time? Usually between 9pm and 10pm (but watch out if there’s a popular TV programme on the night your auction is due to close — the box still has great drawing power if the show has the right stuff).
7. Know What An Item Costs Elsewhere
Don’t just do your comparison shopping on Trade Me — try searching on PriceSpy or PriceMe, check out current deals on TreatMe, Groupon or GrabOne, and keep a watch on local retailer catalogues. Deals are all around us.
8. Know What Photos You Should Provide
Before you list an item on Trade Me, take a look at those selling competitive products. what photos do they provide? Is there anything special about what you’re offering? Capture it on virtual celluloid and upload it to your listing.
9. Know What To Say About Your Product
If you describe your product in very few words on your listing, you deserve to get a lousy price. Do your homework, list as much relevant information as you can and you’ll come out better off.
11. Know What To Do After The Sale
Your customers will judge you on what you do after the auction is over. As soon as you’re paid, ship!
12. Know When To Bid
The one essential piece of advice you need to know before you bid for anything on Trade Me is this: you shouldn’t bid at all until the last few minutes of any auction. Read more here.
PS If you want to find out a whole lot more about all this stuff, take a good look at the Second Edition of Trade Me Success Secrets.