A number of factors determine whether an eBay auction is a success, including the ending time. Some argue an auction should end at a time that encourages last-minute bidding, as most eBay users can attest that bidding on an item increases as a deadline nears. While there is no clear indication of a better time over another, there are a number of considerations a seller can take into account.
When Bidders Bid
While it is difficult to pinpoint exact bidding trends, there are some "facts" most sellers act on. Most accept that bids increase as an auction deadline nears, and Auctionbytes.com research suggests that most bidders wait until the final day of an auction to place a bid. Most eBay users do know that popular items tend to see a flurry of bids at the deadline, so an auction ending time is very important.
Auctioning an item successfully should include understanding target bidders, and that can dictate when an auction is held. For example, auctioning off business equipment would usually appeal to business owners or entrepreneurs. These types of bidders tend to bid during or just after business hours during the week. Ending an auction during weekday business hours (as opposed to late night or weekends) may bring in more attention.
Auctioning off CDs, comic books or collectibles that appeal to younger bidders might not be affected by an auction that ends at night. It probably will be affected if it ends on a weekend at night, when young bidders may be out instead of online.
For some eBay bidders, timing is not a factor. They use software that automatically places bids for them in the final moments of an auction. The bids are often placed so quickly that other bidders do not have time to respond and outbid. Known as "auction sniping," it is an interesting option, but the level of use is unknown.
AuctionStealer, one such software program, claims to have more than half a million users and "snipes" between 10,000 and 20,000 auctions per day. It is not clear if all of those auctions are on eBay. Even so, "sniping software" may actually help spur a last minute bidding war, if other "live" bidders are online trying to win the item. EBay's "one click bidding" makes a final-minute bid easy.
Weekdays or Weekends
As many would expect, eBay is at its busiest during the week. In an interview with Auctionbytes.com, Kevin Pursglove of eBay said Monday through Friday, between approximately 4:30 p.m. and 8:30 p.m. PST, are the busiest times on the auction site. Until evidence is given to the contrary, eBay sellers should consider scheduling their auctions to end on weekdays. A 2008 Pew Research poll found 70% of American workers use the Internet at work. Of those, nearly half use it constantly and 80% use it several times a day. With Internet use at work becoming more prevalent, especially for personal use, it creates a large potential customer base that eBay sellers should try to tap into.
Daytime or Nighttime
While there is no firm evidence that auctions that end during the day fare better than those that end at night, there are some other common practices that tend to produce results. An auction ending time should take into account bidders in all time zones. End it too early, and you possibly deny west coast bidders the chance to start a last-minute bidding frenzy. End too late, and you shut out East Coast bidders who go to bed.
Bruce Hershenson, one of the largest movie poster dealers in the world, now runs his own poster auction site, but he was one of eBay's top sellers for many years until last year. Hershenson ended his weekly eBay auctions at the same time: 7 p.m. central time (usually on Tuesdays or Thursdays). This allowed enough time for East Coast and central time zone customers to place bids before dinner or evening activities.
For the West Coast, that means a 5 p.m. ending time, which is a little early, but late enough for someone to place a last-minute bid before leaving work. The strategy seems to have worked: Hershenson auctions were not only successful, but his movie posters tended to sell for more than the market rate.
Many eBay sellers make the mistake of ending auctions based upon when they start it. If an eBay seller works late nights posting auctions, the ending time will end up being well after midnight. This severely limits the number of bidders seeing the auction at the time. eEay allows for sellers to set times for starts and endings, and it is worth the extra time and effort to set a more reasonable hour.
Source - eHow
