6 Ways to Optimize Best Offer on Ebay and Increase Sales
eBay has a Best Offer feature that can increase sales without any additional cost or time investment. Sellers can add Best Offer to their listings, alerting buyers that they will accept offers below the asking price.
Best Offer is free to use and provides an effective way to engage with buyers and increase profits. Many sellers include Best Offer on all Fixed Price listings to allow buyers to start a conversation that may result in a sale.
This is a feature that allows sellers to decline offers below a specified number. To increase sales, make sure you read about auto-decline on eBay's Help Page. It will assist you in avoiding missed opportunities.
Sellers can miss a sale if the offer is $1 below the auto-decline cut off point. For example, if a seller sets auto-decline at $25, and a buyer offers $24, the offer will automatically be rejected and the seller won't even see the offer. If a seller has had this item for six months with no offers and paid $2 for the item, $24 would be reasonable and a welcome offer.
Sellers with thousands of items in inventory may like to use auto-decline if they receive a large number of offers daily. While manually responding to such volume each day doesn't equate to smart time management, smaller sellers would benefit from personally reviewing and responding to each offer to avoid losing legitimate offers.
Always counteroffer if the buyer’s offer is too low. Some buyers are testing to see if a seller has auto-decline set. They may offer $1 to see how quickly it gets declined. If the offer is rejected immediately, they may not continue with other offers, because they know a machine is overseeing auto-decline.
Smaller sellers should embrace the counteroffer feature. Many buyers don't want to deal with automated responses, they want to negotiate with a real person. While automation is a benefit in many respects, too much of it can result in lost sales.
3. Shipping Terms Not Included
Best Offer centers on the price of the item only. Make sure to carefully read the offer to ensure the buyer has not included something about shipping terms. Sometimes a buyer will add terms like free shipping, a specific dollar amount, or a request to combine shipping with another item. If the buyer has included shipping terms, simply respond with a counteroffer and a message that says:
“Thank you for your offer. Per eBay policy, Best Offers are only concerned with the price of the item and does not include shipping terms. Please refer to eBay Help for more information on submitting to Best Offer.”
4. Odd Pricing
You will see some strange prices on Best Offer, and for a variety of reasons. For instance, buyers may be want to stay with a particular dollar amount and make their offer based on the shipping cost. For example, if you get an offer of $20.86 and shipping is $4.14, the buyer is clearly trying to keep the purchase at $25. So, when you receive an offer in an odd amount, add it to the shipping cost and the mystery is usually solved.
5. When the Buyer Doesn’t Pay
You will encounter buyers who don’t pay. This is the nature of eBay. Enable the Unpaid Item Assistant to handle unpaid cases in the number of days you specify. By automating unpaid cases, you can focus on moving forward with your business to make real sales and not get bogged down with chasing buyers who owe you money.
6. Determining the Price of an Item That Sold on Best Offer
Researching items sold on Best Offer gets a little tricky. eBay doesn't display the price of an item sold on Best Offer. On the listing, the price is shown with a black horizontal line through it. For both buyer and seller feedback, the asking price has a strikethrough line. But, you can work around that. The website, WatchCount.com, contains this valuable information. Just visit WatchCount.com, enter the item number from eBay in the keywords box, and click enter. WacthCount provides the selling price of the item and other details including the end time and view count.
The actual selling price is helpful for sellers researching historical pricing for similar items they want to include in their inventory. The actual selling price is helpful for buyers who want to make offers and determine what sellers may accept.
Remember that negotiating is a way for both sides to get what they want. Best Offer is a way to start a conversation about the price that can lead to a sale. The buyer gets what he wants, and the seller makes a sale. Keep the lines of communication open and keep an open mind when receiving offers.