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Surviving The Recession Through Trade Me August 12, 2009

Posted by Michael Carney in : Uncategorized, new zealand, top twenty, trade me, trademe, what's hot , 27comments

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Most of us are keen to get a good deal when we’re shopping for stuff, even in the good times. When it’s the worst of times, economically speaking (and if it’s not that now, this is as close as we want to come, thank you very much), we’re seriously committed to finding hot deals — or not spending at all. Thank goodness we’ve got Trade Me!

Normally, around two-thirds of visitors to Trade Me are looking for a bargain (the remainder are looking for something unique, either a collectable or some other one-of-a-kind offering). However, in the midst of a recession, expect nine out of ten Trade Me visitors to be in bargain-hunting mode.

So the first part of your mission is to take the path less travelled (i.e. go to the sections on Trade Me least populated by other members), lest spontaneous bidding should break out around you.

Avoiding Bidding Wars

So where should you go on Trade Me, to minimise human contact (and thus reduce your chances of squabbling with another keen hunter over some enticing goodie)? Some statistics to the rescue.

Last month on Trade Me, the 20 least popular categories (those which achieved the lowest sell-through rates — the site average was 23%) were:

NB We excluded Carbon Credits, which topped our list of Trade Me’s worst, attracting a big fat 0% sales in July. Our research indicates that in tough times consumers prefer to save their families first, before they get around to saving the planet.

If you’re in the market to buy any of these items, head over to the relevant category and browse away. Don’t mind the empty halls — that echoing sound you hear is the sound of the savings you’re likely to make when nobody else bids.

Plan B: Less Likely To Buy

On the other hand, none of those categories might look particularly compelling. Plan B involves taking a look at consumer buying intentions in recessionary times.

Relax, we’ve already done the heavy lifting. A US study conducted in July by BigResearch.com tells us that fewer people in the land of hope and glory are planning to spend in these categories in the next three months: 

Our own research suggests similar trends in New Zealand, as Kiwis cut back (though not perhaps to the same extent as their American or UK counterparts). So if you’re looking for a sharp deal in one of these categories, now would be a good time to let your keyboard do the walking. 

General Trade Me Buying Advice

Apart from these current trends, there are also a number of tricks and techniques to use when searching for hot deals on Trade Me. Here they are, excerpted from our Trade Me Success Secrets book: a dozen of the best types of auction listings to peruse when you don’t want to spend much:

1. POOR IMAGES OR NO IMAGES
Many people simply won’t bid on an auction if it doesn’t include an image, or if the image is so small or fuzzy that you can’t distinguish the product from the background. That’s why such listings can be great bargains. Yes, there are obviously risks. But if you’re bidding for an item like brand new single sheets, with a reasonably comprehensive description of what’s on offer, from a seller with more than a hundred positive feedbacks, the risk is minimal. On the other hand, if you’re tempted to bid on an unillustrated diamond ring from a brand new seller, we might encourage you to get seriously acquainted with Chapter Three of TRADE ME SUCCESS SECRETS, which shares some useful perspectives on fraud.

You won’t find image-less listings on Trade Me by searching, alas – you’ll have to browse through the categories that interest you, looking for something that isn’t there. Once you find a listing without images, you’ve still got to decide whether it’s worth taking a risk. If it’s a listing placed by a local seller, you may be able to arrange to pick up the item, giving you the chance to inspect it properly before you pay over any cash. If it’s an out-of-town seller, chances are reasonable (seven degrees of separation theory applies here) that you or a friend know someone nearby who can check the item out on your behalf before handing over the cash. Don’t be put off by a little thing like location.

2. NIGHT OWLS & DAWN CHORUSES
Trade Me operates around the clock, attracting buyers and sellers twenty-four hours a day. Some of those sellers, however, perhaps not quite completely aware of Trade Me’s automated listing processes, add new listings either very late at night or very early in the morning. There’s nothing wrong with doing that if you pay a premium to choose a suitable closing time (i.e. when there are people around to bid). If you don’t set such a closing time then the auction will close at the same time as you listed it, an appropriate number of days later. Such auctions are fair game for the dedicated buyer willing to stay up late or rise a little earlier than usual.

High-volume sellers are particularly likely to be offering products through auctions that finish at odd times. Not because they don’t understand the Trade Me system, but because (if you’re selling multiple copies of the same product) Trade Me’s automated relisting system automatically relists the product to close in increments of 24 hours since the last sale. In other words, if some insomniac buys your widget at 3.27am, your next widget will be relisted to close at 3.27am a (user-specified) certain number of days later.

Canny Trade Me buyers can and do exploit this systemic weakness by adding high-volume sellers to their ‘Favourite Sellers’ list and watching for timing anomalies.

3. ON HOLIDAY OR AT THE GAME
Our political masters don’t plan an Election Day during the school holidays or when there’s a big rugby game scheduled. No-one would show up to vote. For the same reason, you should never end an auction on a public holiday, in the middle of a big sporting event or when it’s going to clash with a major television show like the final of Dancing With The Stars or Outrageous Fortune.

Fortunately for us, sellers don’t always have an event calendar at their fingertips when they’re listing their auctions, so auction closing times seldom take account of what’s happening out there in the real world. Sure, most sellers avoid Christmas Day and the more obvious public holidays, but even so there are often times to snap up bargains because the rest of the population are cheering on the All Blacks or fighting with their tentpegs in some sodden holiday paradise.

4. MISSPELLED WORDS
Lousy spelling can be the kiss of death for Trade Me sellers – but a glowing beacon for buyers in search of a bargain. How do you find such auctions? Try looking at popular Trade Me search terms in your desired category and predicting what mangled variants might exist out there – do a search and prepare to be horrified. Alternatively, browse through the auction listings keeping your eyes peeled for almost familiar brands and keywords.

5. POOR DESCRIPTIONS
Even when they do the other things right, sellers who say little about the items on offer – or who describe them badly – are likely to scare away potential bidders. A collectable Anchor Tea Towel, listed in the Antiques & Collectables category under the headline “Tea towel”, could only attract a $2 bid. The not exactly riveting description that kept the price low: “Anchor butter,in very good condition with no tears or stains,highly decorative and nostalgic item.” Bargain hunters who can see past such descriptions stand to make a killing.

How do you find such gems? It’s not difficult – just browse through a category and look for items that seem good value but haven’t attracted many if any bids. Some sellers seem unable to find words to describe their products satisfactorily. If you’re one of those sellers, read Chapter Fourteen of TRADE ME SUCCESS SECRETS – Second Edition (Chapter Twelve of the First Edition) before you list another item.  

6. OBSCURE HEADLINES & HEADLINES WITHOUT KEYWORDS
Auction headlines should be treated like gold – every word should be a potential keyword someone will be searching for. And those odd characters that populate the top row of the keyboard are a definite no-no, if more than sixty percent of Trade Me users find listings by searching.

Have you ever searched for the keyword “l@@k”? We just did, and the Trade Me search engine just came back and told us “No results for ‘l@@k’ in New Zealand”. Yet sellers keep using such symbols in their headlines, trying to attract the attention of casual browsers. It’s a mug’s game.

The other common headline mistake: not using keywords. We searched for Tupperware and found 460 listings. The first 422 listings displayed had Tupperware in the headline – the last 38 only had a mention within the main body of the listing. The most popular of the 460 auctions had the headline “Tupperware Modular Mates x 4”, had attracted 573 pageviews and bidding stood at $41.50. The least popular was burdened with the headline “Jelly Molds x2 :o )”,  had no mention of Tupperware,  three pageviews and no bids. 

7. LISTINGS IN THE WRONG CATEGORIES
Trade Me has a great many misplaced listings thanks to the joys of self-classification. Not all the listings are wrong – the Lord Of The Rings movies, for example, can be found listed under various DVD categories, including Action, Adventure, Scifi, New Zealand,Boxed Sets and Collectors. Arguably, they’re all valid categories – yet most of the LOTR DVDs have been listed under Action or Adventure and that’s where fans would be most likely to turn first. If you find The Two Towers under Scifi, it’s likely to have attracted fewer pageviews – and probably not as many bids. 

Misplaced items aren’t particularly easy to find deliberately. But if an item shows up during a search that appears undiscovered by others, check out the category in which it’s listed. If it’s wildly out of place, you could be in luck.

8. MARKET KNOWLEDGE
All those wonderful TV programmes where innocent consumers parade their home treasures in front of experts, to be told that they have a $500,000 Rembrandt hanging in their smallest room, are great entertainment – and a wonderful fantasy for Trade Me buyers. Reality seldom delivers on the dream but, if you specialise in a particular product category and know it well, you will have a definite advantage over casual sellers. As more and more new traders set up shop, your specialist knowledge could just come in handy.  

9. FADING FASHION
We live in an instant gratification society. When it’s hot we want it now. That’s why cinema chains can charge blockbuster pricing when a movie is first released – and why some patient (and thrifty) souls are willing to wait a few weeks until the price drops. The same dynamic applies to online auctions – when a hot new DVD or CD is just released, you’ll end up paying about the same to buy it on Trade Me as you would through a retail store. If you’re prepared to wait, however, the price will drop. How long should you wait? Check on the final sale price of similar items on a regular basis. When the price drops to a level that seems acceptable, get ready to bid.

In the same vein: buy off season. Buy your Christmas ornaments after Boxing Day and your swimming accessories at the end of summer.  

10. BROWSING RATHER THAN SEARCHING
If you only use the Search facility on Trade Me, you could be missing out on bargains listed by sellers who (either through some of the poor practices already outlined here or through other misadventures of their own) have done a lousy job of listing their offerings online. It’s worth taking a bit of time to browse through categories of interest – like a jumble sale or a lucky dip, you never know what surprises are in store.

11. OVER-PRICED LISTINGS
Every once in a while you’ll see a product that you want that’s overpriced – either the starting price is too high or, even if there’s been some spirited bidding, the reserve still hasn’t been reached. Don’t do anything rash – just add the product to your watchlist and wait until the auction closes. Unless the bidding gets out of hand, the auction is likely to finish unsuccessfully. Once that happens, you can use the Trade Me system to get in touch, asking them either to relist the item or make a fixed price offer – hopefully this time their expectations will be more realistic.

NB Some sellers simply refuse to make their products available via fixed offer — something about “gannets” and “scavenging”. Their loss.

12. ATTITUDE THAT OFFENDS
Some sellers, presumably as a result of previous problems, seem determined to drive away potential buyers by tough talking in their listings: “payment within three days or the item will be relisted and negative feedback will be posted.” It’s OK to have a bad hair day every once in a while but if you’re the public face for your organisation (as Trade Me listings are) then it’s not a good career move to operate on a customer-is-always-wrong model.

If you’re willing to take the risk of offending these somewhat prickly traders, go ahead and bid. Other more delicate souls may be put off, lessening the competitive pressure. Just make certain that your actions after the auction are squeaky clean.

To List Is Human, To Sell Divine

Just before we leave the topic of recessionary trading, some advice for sellers (who’re also trying to survive and thrive in the economic downturn):

The Seven Things Every Trade Me Seller Should Know About Consumers In 2009

1. Conspicuous Consumption is out of fashion (for now). We don’t want to be seen to be over-indulging while others are suffering. Bling is out, dowdy is in. Subtlety and decorum, please. We will allow ourselves small indulgences — but with discretion. So — even if you have ostentatious items to sell, a little bit of taste, please.

2. Climate Change has been postponed until we can afford it again. Yes, products still need green credentials but they’re just not the most important attribute right now. So mention any sustainable attributes your products might boast, but price your stuff competitively.

3. Security Really, Really Matters. So many finance companies and other institutions, supposedly safe, have fallen into the abyss. We won’t be nearly so trusting anymore. It also means we’ll look more closely at your feedback and your past history, so behave already.

4. Country of Origin is now a significant issue. The melamine-tainted milk powder scandal really brought it home to us — we’ve now started checking labels to see exactly where products are made. Good news for Kiwi Made, not so good for importers. Be open about the source of your products.

5. Staying In is the new Going Out. We’re eating out less, spending more on our little home nests. It’ll take a compelling offer to lure us out in 2009. Focus on selling items that improve quality of life in our homes.

6. We’re Slower To Spend.  In tough times, we procrastinate more about when, where and how we spend. We spend more time searching for information before we commit to purchase (and look further around for the best deals). And we negotiate harder when we do decide to buy. So make those listing details as comprehensive as possible and add lots of pictures.

In the US BigResearch study mentioned earlier, consumers told researchers that their new order of priorities – what they look for first when they shop — is:

You know what you have to do.

7. We have new Spending Priorities. A September 2008 European Study on Discretionary Spending by Execution Primary Research (”what would you cut back if you had to make savings?”) saw Broadband Internet, Fixed-Line Phone Calls, Toiletries and Cosmetics and Mobile Phones as the least likely to be cut back in tough times. Most vulnerable (in order): New furniture or floor coverings, Gambling, Going Out, Electronics, Music, DVDs, Books & Games and Home Improvements.

The implication: that thrifty consumers could be interested in second-hand goods or maintenance products (e.g. “keep that carpet alive for longer …”)  in the most vulnerable categories; or in upgrades, accessories and supporting products in categories such as mobile phones (”you’ll have to pry the handset from my cold, dead hand”).

It’s The Economy, Stupid

If you’re trying to sell stuff, Trade Me is still the place to be. In fact, online auction sites typically blossom in a recession precisely because they’re the ideal place to find a bargain. Just be aware that value is the single most important attribute right now. One last collection of statistics from that July 2009 BigResearch study, this time capturing the parsimonious attitudes of recession-conscious consumers:

Finally, just to complete the set (and so you can know what items you should be selling), here’s a list of the Top 20 Items selling most on Trade Me (July 2009) despite the recession:

PS We would be remiss if we didn’t sneak in one last plug for our book, TRADE ME SUCCESS SECRETS. Its subtitle is “How to buy for less and sell more profitably on New Zealand’s most popular auction site” — and that’s what we all need, especially in tough times. See our listings on Trade Me.

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What are the hottest selling categories on Trade Me? July 11, 2009

Posted by Michael Carney in : Bestsellers, top ten, trade me, trademe, what's hot , 2comments

Trade Me is a glorious bazaar stuffed full each week with more than 1.3 million items, any one of which would surely look absolutely fabulous on your mantelpiece, in your garage or draped over your shoulders.

And yet, despite the inherent appeal of the items listed on sale, they don’t always sell — at least not right away. In fact, on average only one in four auctions on Trade Me ends in a sale.

Has that ratio changed, especially in these recessionary times?

Not much. If we examine the figures for the most recent month available, June 2009, we find that 23% of auctions closed successfully. In comparison, 22% of auctions in June 2008 were similarly successful; while 24% of June 2007’s auctions resulted in a sale.

Of course, some product categories are more popular than others. If we rank Trade Me’s various sections in terms of popularity, here’s what we find:

If we drill down even deeper, to Trade Me’s sub-categories, we find much more dramatic results. These were the Top Ten best-selling product types on Trade Me for June 2009:

  1. 66% Baby Walkers (59% in June 2008)
  2. 66% Telecom mobile phones (64%)
  3. 65% iPods (not listed separately in June 2008) 
  4. 61% Concert tickets (57%)
  5. 59% Baby Monitors (not listed separately last year)
  6. 55% Laundry items (47%)
  7. 54% Sports event tickets (58%)
  8. 52% Heating & cooling (40%)
  9. 50% Baby Bouncers & jolly jumpers (44%)
  10. 45% Tattoos (not listed separately last year)

And those categories that improved most (in terms of sell-through rate) between June 2008 and June 2009?

And those that fell furthest?

And the very worst performer of all?

Carbon credits. This time last year, they enjoyed a sell-through rate of 71%. In June 2009 there were NO sales. Clearly an idea whose time has come – and gone.

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Five essential ingredients to make your listing famous July 8, 2009

Posted by Michael Carney in : auctions, new zealand, trade me, trademe, what's hot , 9comments

You’ve probably heard of the “scary washing machine”, last month’s insanely popular Trade Me phenomenon. Sadly, your mint-condition washing machine (or any other worthy but ordinary item) won’t attract a fraction of the frightening one’s admirers (806,220 pageviews) – nor the $5160 final windfall. Not without some very special magic.

So what does it take to create a Trade Me sensation?
There are a great many answers to this question, but at a minimum you need the following five essential ingredients if you’re to have any chance of attracting exponential attention on Trade Me:

1. An auction listing with “the right stuff”
Your product might be ordinary but the listing can’t be. Not if you want people to talk about it. When we spread the word about a Trade Me listing (or any other topic), it’s because it enhances our standing with our friends, not just because we like the listing or topic.

Successful listings that attract lots of attention typically tap into some pretty basic human motivators:

Most of the auctions that became famous on Trade Me were at least entertaining; some held out the chance of acquiring an item that would significantly increase in value at some point in the future (engaging the greed gene); “proceeds to charity” validated our bidding actions; the fact that we were bidding on a very popular item suggested that we were indeed doing the right thing; and being the successful bidder on a high profile auction can do wonders for the ego (at least until buyers’ remorse kicks in).

If we look back at some of the items that have caught the popular imagination on Trade Me, we find that in most cases the headline and/or description started the process of making the auction memorable.

The legendary paper clip auction (34,801 pageviews, final selling price $173) is a very good example:

It was inevitable that such a good-humoured listing (penned by Aucklander Rhys White during a quiet day in the office) would attract frivolous questions. And that brings us to essential ingredient Number 2:

2. Interactivity (with a sense of humour)
One of the neat things about Trade Me is the “Ask the seller a question” facility. For 99 .9% of listings, the questions that are asked are mundane and practical (and relatively few). For those special listings that catch the imagination of the public, however, sellers can be inundated with quirky questions. Answer appropriately (tongue firmly in cheek) and you’ve got the makings of Trade Me magic.

When an iceberg floated close to New Zealand in November 2006, it was listed by an opportunistic seller (“In good condition. Some small stains – should come out. Girlfriend doesn’t like it and says it needs to go. Buyer must collect.”) and attracted (ahem) a flood of questions:

Q. How much does it weigh? I may need to rent a trailer…
A. I don’t want timewasters here mate. You don’t use a trailer to remove an iceberg. Come on, you are being silly.

Q. Hi. I’m looking for something along these lines for a christmas decoration. Do you have any in the shape of a reindeer?
A. By the end of the auction it may look like that. Get real drunk and check back in.

Q. I don’t wish to pour cold water on this, but I must point out that MAF regulations require that this ‘berg will need to be held in quarantine for 8 weeks. This may impact on delivery.
A. That’s only if it has a bird in it. But thanks for checking.

Q. Hi. do you have these in any other colours? Thanks.
A. No sorry. Besides, you don’t want the yellow icebergs.

For the record, bidding on the iceberg reached $99,999,999 before the auction was removed (as an obvious joke listing).

Of course, with more than 1.3 million items listed on Trade Me at any given time, it’s tough to stand out. Your item also needs to conform to essential attribute Number 3:

3. Original and Scarce
If you want your item to become famous, then the item needs to be “one of a kind” – even if (as was the case with the ‘scary washing machine’) that uniqueness is simply in how you describe it. You can expect copycats to emerge – we lost track of the number of ‘cute’ stationery listings that attempted to cash in on the fame of the Paper Clip – so you need to be first and freshest in your particular category.

On the other hand, if you do have a genuinely unique item, such as the cast (sold in February for $18,500) which adorned John Key’s broken arm – or the handbag wielded by Tana Umaga to discipline an unruly colleague ($22,800 in June 2006) – then your focus should be on capturing the flavour of said collectable and communicating appropriately to those who would be most interested in acquiring the item. Which brings us to essential ingredient Number 4: 

4. People who know people
As soon as the listing is posted, spread the word – to journalists, twitterers, bloggers, anyone with a suitable/relevant audience. Of course, they’ll only be interested if said item already stacks up as unique and scarce – but they’ll also be looking for timeliness. They won’t want to be talking/writing about something that’s already old news – they’ll want to be bringing exclusive news to their followers.

Of course, everyone can’t be first – the second person you tell may not have heard about your listing but you can’t pretend that they’re the first to know. So instead, like a true public relations practitioner, you need to look for an angle, a spin that can be unique to that correspondent.

An example? Bono’s bird kite which the U2 frontman had been flying during his 2006 NZ concert.

The first angle: Bono’s kite up for sale on Trade Me. Then: caught by Tauranga woman (local spin for the Bay of Plenty Times). Next: proceeds to Oxfam. Follow-up: pictures from the concert, showing Bono flying the kite. You get the idea.

And that leads us to the fifth of our ingredients:

5. Topical
If you can leverage current events, that’s another quick way to spread the word. The current furore around Michael Jackson’s untimely demise is a classic example, with quick-thinking sellers offering personalised plates (THRLER, JACK5N, WACKO or MOONWK), replica Thriller jackets, web addresses (RIPMJ.co.nz) and a wide range of other Michael-related memorabilia on the site. In such a high profile event, however, there’s a very real danger of over-exposure, so media interest may quickly burn out. In other words, choose your topicality with care.

Apart from the five ingredients noted above, there are several other qualities that will stand you in good stead when it comes to conjuring up some Trade Me magic. To all the above, add perseverance, imagination, initiative and plain old luck (‘right place, right time’).

Your 15 megabytes of fame awaits.

PS: Of course, there’s quite a skill to creating effective listings. For a more in-depth look at “The Art Of The Listing”, may we humbly point you towards TRADE ME SUCCESS SECRETS the book (now in its second edition). In Chapter 14, you’ll learn about the eight different types of effective headlines, the pictures that sell a thousand words and the vital ingredients of a successful product description. The following chapter guides you (in rather more depth than we can manage in this blog entry) through many of the promotional options available to help you drive the sale — and suggests alternative actions if your item still doesn’t sell.

You’ll find the ‘Trade Me Success Secrets’ book in your local library, from leading booksellers or on sale at our Trade Me store.

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Trade Me: the little website that still can February 23, 2009

Posted by Michael Carney in : auctions, new zealand, trade me, trademe, what's hot , add a comment

Half-yearly results for the six-months to 31 December 2008 for the Fairfax organisation have just been released today, and Trade Me remains the jewel in the crown.

Despite the recession (which impacted badly on most of the rest of Fairfax’s businesses) our favourite online auction site saw an increase in revenues of 22.1%. Meanwhile Fairfax’s NZ newspaper and magazine advertising revenues were down 14.6%.

Trade Me contributed earnings* of NZ$38.2 million to the Fairfax coffers — incidentally, meeting (for the second and final year) the revenue targets set when Trade Me was sold to Fairfax in 2006. As a consequence, Sam and the other original investors earned another NZ$45.2 million to add to their $700 million payday for Trade Me. Nice for them, but also good news for Fairfax — Trade Me continues to deliver healthy revenues despite today’s economic conditions.

One other point to note from today’s announcement: Trade Me’s NZ$38.2 million compares more than favourably to the $70.2 million earnings* contribution from the 80 newspapers and 25 magazine/guide publications from Fairfax New Zealand. This web lark seems to be quite promising after all!

*Strictly, EBITDA (earnings before interest, tax and depreciation allowance) — but we know you prefer plain English in your financial reporting.

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What's Hot On Trade Me 22 February 2009 February 22, 2009

Posted by Michael Carney in : auctions, trademe, what's hot , add a comment

 

It’s always fascinating to watch bidders buzzing round and then suddenly setting their sights on one particular item. Gotta have it, even if it’s often somewhat frivolous,  despite the fact that there’s supposed to be a recession in progress. This week, the hottest item on offer on Trade Me — as defined by numbers of bids – is the “Seadoo Twin Jet Jetbaot“. Yep, despite the typo in the title, the Seadoo has drawn (as we write this) 4082 pageviews, 335 bids and a top bid so far of $7000. Not bad considering this ten year old fibreglass motorboat started life as a $1 Reserve item.

Amongst the other popular paraphenalia of the week:

Of course, there’s loads more, but those were the ones that caught our jaded imagination …

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What's Hot On Trade Me 23 January 2008 January 23, 2008

Posted by Michael Carney in : auctions, top ten, trade me, trademe, what's hot , 1 comment so far

A pleasant change in the Top Ten Hottest Products On Trade Me this week – only one bike/car makes the list. As for the the other nine slots? See for yourself (we’ve included the headline with each listing so you can see how they tried to attract bidders):

10. New TaylorMade R7 CGBMax 3-SW Graph FreeShiping $1
For this Brand New TaylorMade R7 CGB MAX Irons set (9 clubs), $530 is the top bid, the auction has attracted 128 bids and 878 pageviews.

9. Toshiba 61″ huge Rear Projection TV 
A self-explanatory listing, this auction closed at $945 after attracting 128 bids and 1641 pageviews.

8. Chen Hanwei Miyamoto Mushashi Daito $1
RRP $1299 – one only [this listing included a subheading]
If you have to ask what this is, then you’re just not a potential buyer. According to the listing details, Miyamoto Musashi, arguably the most famous swordmaster in Japanese history, was well above average height and Hanwei’s classic rendition of his Daito (long sword) reflects the impressive length of the original and features the legendary double-ring iron tsuba.

Current pricing (from a $1 start): $205  129 bids and 783 pageviews.

7. New Black Leather Lounge Suite
No Gallery image on this listing, so you have to click through for more details. The text of the listing, in its entirety: “This suite consists of a three seater & Two seater plus one chair.Very comfortable suite..Be quick to have for christmas”

Actually, there’s no rush now — you have eleven months. Current bidding stands at $900 (but the reserve still hasn’t been met). 131 bids so far and 1319 pageviews.

 trailer2.jpg

6. Food Trailer
This trailer has been used as part of a baked potato business, for carting and storing appliances, potatoes etc [Note: This listing is for the trailer only -- see the photo above] Bidding stands at $3,551,  with 131 bids and 2133 pageviews. 

5. A BEST BUY++ Conn M20 Alto Sax – USA made 1990
This saxophone “was my mothers and she loved this sax. Has not been used at all in last 5 years and only occassionally before that so is in excellent condition.”
$425 to date, from 136 bids and 184 pageviews.

4. Kestrel 20
This Trailer sailer is [so the listing description tells us] ideal for the beginner and is ready to go. The trailer has a road worthy and the out board was just serviced recently. The out board is a johnson 6HP. This yacht has a VHF radio fitted and comes with lots of extras. ie life jackets extra sails ect

Lots of questions and answers on this auction, currently up to $1,500 with 138 bids and 2041 pageviews.

3. Bmw BMW R1200RT 2005 
Bidding for this damaged motorbike currently stands at $4,110, with 165 bids and 4746 pageviews.

2. 07 SEIKO DAYTONA F1 RACER CHRONO SND701 $1RES
Bidding for this Monster Watch stands at $280 after 165 bids and 457 pageviews.

And, in the top slot:

1. Luxury 3 Person Infrared Sauna $1 Reserve
New Year Big 3 Person Sauna $1 Reserve [this listing also included a subheading, but then wasted the investment by saying almost exactly the same thing]

“Enjoy all the benefits of an Far infrared sauna in the privacy of your own home and get on track to a revitalized, healthy lifestyle.”

This sauna started life at $1 Reserve and is currently sitting at $360. What’s really unusual is that the item has attracted 202 bids despite only achieving 72 pageviews. How is that possible? Essentially we’re seeing a bidding war between one bidder’s reasonably high Autobid and a determined bidder who has been nibbling away in small increments, losing every time and then making a new bid (until finally getting to the top of the heap).

As readers of TRADE ME SUCCESS SECRETS will note, this is the worst possible bidding strategy (for the buyer) but fabulous news for the seller!

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Nintendo The Wizard Of Oz In 2007 January 22, 2008

Posted by Michael Carney in : games consoles, nintendo ds, nintendo wii, ps2, ps3, psp, trade me, trademe, what's hot, xbox360 , 1 comment so far

The Melbourne Age is today reporting that:

Huge mainstream demand for video games over Christmas and a bumper year for Nintendo caused total games industry sales in 2007 to swell by almost 50 per cent over the previous year.

Holiday sales were dominated by the Nintendo DS handheld and the Nintendo Wii sold more units than the Xbox 360 and Playstation 3 (PS3), but retailers say 2007 was unique in that all of the games systems on the market performed extremely well.

Market watcher GfK today announced total Australian games industry sales hit A$1.3 billion in 2007, an increase of 43.6 per cent over 2006.

Ron Curry, CEO of the industry body, Interactive Entertainment Association of Australia, said the growth was a record achievement compared with the 7 per cent increase between 2005 and 2006.

He said the growth was partly driven by the fact that 2007 was the first full year of sales for the new console platforms, the Wii, PS3 and Xbox 360. He also noted a major upswing in handheld sales, dominated by the Nintendo DS.

“I think it’s reflective of the fact that video gaming is moving out of the lounge room and it’s much more mainstream – the appeal is much wider than kids and young adults now,” Curry said in an interview.

“The success of titles like Singstar, Buzz and Guitar Hero have certainly made gaming much more social … it’s exposed more generations to gaming.”

Curry said the average age of gamers in Australia was now 28.

GfK has released detailed holiday sales results for each individual console to the manufacturers, but refused to release them publicly, saying it was up to each manufacturer to decide how much data to release.

Microsoft and Nintendo have so far refused to release their sales figures for the final weeks of the year, but Sony said the PS3, PS2 and PSP figures were 48,000, 81,000 and 45,000 units, respectively.

However, GfK rankings obtained by this site show the Nintendo DS handheld dominated over the holiday period, followed by the Wii and the Playstation 2, which were neck-and-neck. The final three places were filled by the PS3, Xbox 360 and the Playstation Portable (PSP), but it is understood the trio were within a few thousands units of each other.

Commenting on sales in EBGames outlets around the country, CEO Steve Wilson said all systems performed extremely well but the Nintendo DS dominated by a large margin. He was also impressed with the Playstation 2, which attracted significant mainstream demand thanks to its low price and array of social games.

Of the three new console platforms, the Wii was also a standout but was held back by stock shortages, Wilson said.

“It’s pretty unique when you can actually say there isn’t a system that did badly – I mean, the PSP was bringing up the rear and you would even say the PSP had a good Christmas,” said Wilson.

Australians bought 15.4 million games in 2007 but more than a third of those sales were made in the lead up to the holidays during the final quarter of the year, GfK said.

The best-selling game across all consoles was Halo 3 for the Xbox 360, which sold over 120,000 copies.

Top selling game consoles in Australia 2007:
1. Nintendo DS
2. Nintendo Wii
3. PS2
4. PS3
5. Xbox 360
6. PSP
Source: GfK Australia

Useful news for Trade Me sellers wondering which consoles to support.

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Top Searches From December 2007 January 16, 2008

Posted by Michael Carney in : Christmas, auctions, top ten, trade me, trademe, unwanted gift, what's hot , add a comment

What was everyone looking for on Trade Me in the lead-up to Christmas (and in the post-Christmas crush)?

All kinds of everything, but the Top 15 most-searched-for items in Trade Me for December 2007 were:

15 Harley
14 $1 reserve (new)
13 Kayak
12 Trampolines
11 Puppies
10 Louis Vuitton (new) 
9 Wedding
8 PSP
7 Transformers
6 PS3
5 Billabong
4 Unwanted (new)
3 Tents
2 Playboy clothing
1 iPod 

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What's Hot On Trade Me – 16 January 2008 January 16, 2008

Posted by Michael Carney in : auctions, cars, motorbikes, passenger vehicles, scooters, top ten, trade me, trade me motors, trademe, what's hot , add a comment

Two-wheeled contrivances are in again.  We’ve come a long way since Pierre Lallement whipped up a velocipede (also known as a boneshaker) in France in 1763.

These days you can choose from utility bicycles, mountain bicycles, racing bicycles, touring bicycles, cruiser bicycles, BMX bicycles, tandems, recumbents, lowriders, tall bikes, fixed gear and folding models. And those are just the human-powered variety. There’s a seemingly endless variety of motorised contrivances as well. And it’s to those that we now turn, as we note (with a hint of surprise) that four of the ten most popular items on Trade Me this week are motorised two-wheelers.

The remaining six of the Top Ten hottest auctions on Trade Me at this moment include three cars, a carport and a carpet — and (just to spoil the symmetry) an Ibanez electric guitar.

So why do vehicles (whether of the two or four wheeled variety) feature so strongly at the top of the Hot Auctions category? Because auctions are ranked based on numbers of bids. Given that Trade Me sets minimum ‘next bid’ prices that range from 50 cents (for values under $20) to $100 (values over $25,000), only high-inherent-value items are likely to attract enough bidders to rank near the top of the list. Motor vehicles are the most obvious prospects, especially on those auctions that start life at $1. 

The Hot Auctions category is a good place to hang out if you want to see what’s selling on Trade Me. Just don’t get caught up in a bidding war, okay?

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What's Hot On Trade Me w/c 6 January 2008 January 6, 2008

Posted by Michael Carney in : auctions, trade me, trademe, what's hot , add a comment

Another week, another Hot List. You can tell it’s summer — hot auction action includes kayaks, tents, barbeques and fish finders, as well as the usual collection of cars, gadgets & gizmos, and a surprising number of paintings. Some of the less common items amongst this week’s most popular offerings on New Zealand’s most popular site:

Old Lego

Such is our round-up, drawn from the 500 listings that have proven most popular so far this week.

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