Slashdot Mirror

← Back to Stories (view on slashdot.org)

The Science of eBay

Posted by ryuzaki0 on from the on-the-auction-block dept.

PreacherTom writes "Professors of marketing, economics, management, and psychology have published dozens of papers to try to explain how and why eBay users buy and sell online. At the same time, there is no shortage of people offering helpful hints online. Kerry Miller takes a novel approach, offering 10 tips to maximize your profit that are based on a summary of these scientific analyses, rather than just 'educated' guessing."

9 of 136 comments (clear)

  1. That is not science... by Funkcikle · · Score: 5, Insightful
    ...and describing it as such is just yet more "puffery" intended to get people to look at THAT guide instead of others, thus driving up ad revenue.

    Most of the tips are common sense or obvious to people who have used eBay a few times, to both buy and sell.

  2. Along the same lines... by UbuntuDupe · · Score: 3, Insightful

    You always have to wonder why business professors -- if they know so much about how to read the market -- aren't out there making a fortune instead of making less as a professor.

    --
    Apology to Ubuntu forum.
    1. Re:Along the same lines... by Mr.+Flibble · · Score: 4, Insightful

      It probably lies in the difference between knowing and doing. You can know something, but not act on that knowledge, and then after the fact say "oh, I knew I should have done XYZ". Of course, humans tend to forget the times that we were wrong about these guesses.

      Most economics proffessors know that there is no sure-fire way to make money apart from saving and investing carefully. They know that just as many people lose money in the market as make it. But then again, you have some people that go to business school that don't teach, like Warren Buffet...

      Just a like between action and knowledge. Most economics profs I would guess have a large amount of money in savings, bonds and blue chip stocks.

      --
      Try to hack my 31337 firewall!
    2. Re:Along the same lines... by CRCulver · · Score: 4, Insightful

      You always have to wonder why business professors -- if they know so much about how to read the market -- aren't out there making a fortune instead of making less as a professor.

      I'm sure that there are plenty of people who are just happier in academia than in the "real world". If your needs are simple and you're going to make more money than you know what to do with either way, the person who delights in research is going to be content with a university position.

    3. Re:Along the same lines... by foniksonik · · Score: 3, Insightful

      i know parent is meant to be funny BUT IF a professor of economics isn't already wealthy and trading, etc. as a result of having worked private for many years before going to education... then the reason would be that they have no cash reserves with which to invest. Lots of people have what it takes mentally to be good traders, few people have what it takes financially. This is why most people are in 401k mutual funds, etc.... cause they just can't pull enough together at one time to invest independently.

      --
      A fool throws a stone into a well and a thousand sages can not remove it.
    4. Re:Along the same lines... by Garse+Janacek · · Score: 4, Insightful

      Some are. My undergrad econ professor was a millionaire who consulted for major companies, but taught freshman-level econ anyway because he enjoyed it.

      That may not be representative, but just because they're in academia doesn't mean there's no substance to what they're teaching. Some people just like teaching, or like the academic environment, or aren't interested in the sacrifices they'd have to make to really do well in business. Or have already done very well in business and are teaching from quasi-retirement, or whatever. You get the idea.

      --

      I am the man with no sig!

  3. People just like to bid... by cjkeeme · · Score: 4, Insightful

    It's funny that many of the auction that I have seen on eBay actually close higher then if you had bought it at a retail store.

  4. Here's another good reason eBay works... by i_want_you_to_throw_ · · Score: 3, Insightful

    In bad times, people sell stuff. In good times they buy. Either way eBay is making $$$.

    Same reason alcohol is great: drink to forget (bad times), drink to celebrate (good times).

  5. My own tips from almost 4 years ago by phillymjs · · Score: 3, Insightful

    Originally from this Usenet posting.

    Updated:

    Don't post stuff in lots. Auction stuff off separately because you'll have a hard time finding someone who wants all of it, but you will get bombarded with annoying emails from people interested only in one or two items who want you to break up the lot. Instead, list everything the same day, mention in each item description that you've got other items that complement this item, and create a link to all your current auctions (assume people won't think to click on the official eBay "View seller's other auctions" link).

    Having nice, large photos of everything will encourage a higher final value. People like to know what they're buying.

    Having detailed descriptions will cut down on having to answer the same question a hundred times from prospective bidders.

    Make the auctions run for at least 5 days, so patient people who like to search and zero in on low-priced items they need will be able to put you in their watch list-- more watchers in the beginning means more people competing with each other and driving up the price at the end.

    Time the start of the auctions so they end on a Sunday evening, but before 8pm-- when people are almost certain to be home but aren't yet glued to the TV. (But definitely don't end it the night of the Super Bowl!)

    I have used the above tips for years, with great success.

    ~Philly