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Unlock Daily Profit By Being a Master Seller in a $1 Auction Environment

As the $1 auction method gains momentum, sellers of all varieties are finding the opportunity to create a full fledged business with little to no upfront cost that will pay out in cold hard cash daily.

Here are a few things to keep in mind if you want to master sales in a $1 auction environment and maximize the resale value of every item you post.

Do your research

Know a little about the products you're selling. At least a very base knowledge. This includes things like brands, styles, interesting data, value, luxury status, benefit to consumer, material, etc. While you can direct your customers to google to find the information they are looking for, its easier much more convenient and much more profitable if you can answer those questions for them.

And a little advice, ALWAYS list dimensions. If you don't, there will always be at least one person asking for the dimensions. People want to be sure the item they are getting a great deal on will work in their space and that they have the tools needed to put it together if necessary.

Present your items with pride

It has happened time and time again. One seller will post an item they took a picture of in a hurry added the basic format details to the description and only checked the auction when it ended and it will sell for $1.

Another seller will post the exact same item with a picture they clearly took some time to arrange, include all of the details a buyer could possibly need to know and keep up with bumping, letting people know when they're outbid and a last call to bid tag and the item will sell for $50.

Your presence and participation matter if you're trying to get top dollar in a quick time frame for each item you sell.

I would suggest grabbing all of the items you want to sell and taking great pictures right off the bat. Once that's done, you will have some flexibility for getting them posted since the images are already ready to go on your phone.

Be sure to follow the $1 auction format in your description but don't be afraid to make it your own. Feel free to add extra details, witty comments and stock photos in addition to a picture of the actual item to give people a better idea of what they're buying. The more of you, you put in the process, the more buyers will connect with you as a person and the higher the sales. Works like a charm!

Bump and Remind

48 hours goes by quick when your day is already filled with taking care of a family and being an all star at your job. If someone bid on your item its because they would like to buy it. Make bidding easy for your customers by creating a line of communication through the computer that lets buyers know you're on their side and want them to win. The two best ways to do that in the $1 auction is by bumping and reminding.

Bumping is when you add the word bump (which is code for bring up my post) to the auction comment section. Instead of using the word bump you can also use a GIF, icon or even just a dot and each will place your auction at the top of the bid feed for new bidders to see it and place their bids.

Heres an example of what bumping looks like in action:

Save time and connect with your bidders by letting them know when they have been outbid or when an auction is getting close to being over. The purchaser bidding on your item is very busy....too busy to even shop at a local store and would rather try their luck at getting an item they need or want from you.

Rather than making them sweat it out or hope that they notice the notification go by, tag them directly to let them know they have been outbid so they have the chance to place another bid as soon as they see your tag.

Also, reminding them that the sale will end in an hour or a few minutes will give them another chance to place a bid and save some dollars buying at prices they can afford with sellers they trust.

Here is an example of what reminding looks like:

Represent your products honestly

If there are any flaws or anything wrong with the item, list that in the description. Buyers are often operating on good faith, this should not be a "buyer beware" situation.

Heres the thing, if you’re selling bad products, thats going to make the sellers weary of buying from anyone which affects other sellers in the group; which makes for a very negative experience in the world of local sellers for you.

Some things you will be unable to test, it happens. Either say in the description the item is untested, or be more than willing to refund customers if there are any problems.

Some examples of items you may not be able to test or test properly include: software, equipment, devices, technology based products, etc.

If you are selling fine jewelry or accessories like watches, name brand clothing or high fashion or really any item you feel has a high resale value be sure you are able to prove it in the description or with certification documents. Most online stores or sales platforms prohibit the sale of anything that could be considered a copyright infringement.

You also really need to take a hard look at the item you want to sell and ask yourself, is there going to be a market for this as an auction or should I post it as an NYP if I know this is a very niche item that only a specific group of people would be interested in.

Make pickup easy and consistent

I 100% believe tote pickup is the way to go. The buyers can come at their convenience and you don't have to schedule a time to meet. However, tote pickup is not ideal for some situations and some people are just not comfortable having strangers visit their property.....I get that.

In this case, make sure your buyers know when and where you are available to meet ahead of time to exchange an item sold for the money earned. If you make your process known and easy to follow, I guarantee you will get repeat buyers.

Stick to the formula:

  • Announce your winner in the feed of the auction and tag them

  • Send the winner a PM within 24 hours of the auction ending to arrange pick up

  • If you don't get a response PM the admin to message the winner incase it went to their out of network folder.

  • If your winner does not pick up within 48 hours and you have not agreed to any other arrangements let the admin know so they can process a suspension or removal and you can offer the item to the next person or repost it.

If you decide to go with porch pick up on a consistent basis getting a video camera door bell and lock box for cash will be necessary.

Please also be sure to place your items in clearly labeled, non-transparent bags and arrange them so the name label is clearly visible for people to grab their item quickly, put their cash in your lock box and get going.

Report no shows to the admin 

The #1 question I get from sellers is "how do you handle people that don't show up?"

Simple, they get reported! Unfortunately life happens sometimes but having a 48 hour time frame to pick up in is plenty of time especially in the context of sellers utilize porch pick up.

Sure, people can appeal being reported and the admin will be happy to look into the issue but any auctions on the site that are reported as a non pick up are often accompanied by a screen shot of all communication or lack of communication between the buyer and seller.

Suspending and removing winners who don't pick up items from the group weeds out those who might not be a good fit for the group and ensures only dedicated buyers are left.

If we have systems in place to work towards a profit building future and give group members access to high value assets we inadvertently support great sellers.

Selling merchandise within social media platforms across the internet is not a new concept but it is a concept that is in need of refinement, the dollar auction method is that refinement.

Additionally, making online retail in this format a pleasant experience for both parties, the buyer and the seller, is a service to yourself and makes the community a great place to be. Hold each other accountable. That includes those who resell, consumers, shoppers, business owners and everyone in between.

Respect your fellow sellers 

This is a big one. Let's hit some do's and don'ts:

DO NOT cruise auctions and contact bidders offering them the same product being sold by another seller.

DO NOT bad mouth other sellers. Talking bad about other sellers to buyers is a desperate tactic and often leads to a sustainability issue for the person doing the talking. Professionalism is key, this is your business.

DO reach out to other sellers!. Instead of trying to steal their buyers, if you have the same item as another seller, send them a message and ask if you can offer the product to their second place bidder once the auction is over if the seller only has one of the item being sold, chances are they won't mind.

DO build bridges of support for common seller needs like plastic grocery bags to put sold items in, sales on durable totes, video door bells and lock boxes and shopping trips to great places to source items to sell.

DO take advantage of different membership levels depending on what you have to offer:

  • Free Membership-Free membership is for people who sell about an item a week.

  • POG Membership- POG membership is the best bang for your buck. Those utilizing this membership option have the freedom to post up to 25 items a day, can post one event (Sale Ad/NYP ad) per week and are entered into the weekly $50 Visa gift card giveaway (along with all other paid members).

  • Sponsorship Membership- Sponsor membership really serves two types of people. The first type of person who utilizes the sponsorship level are people who have a small business and want to advertise that business while posting auctions in the group. The second type of person who goes for sponsorship is someone who wants the freedom of unlimited auction posting and often uses the weekly event option to post about their yard sales, estate sales or something similar.

  • NYP Membership- This is for people who want the freedom of posting unlimited auctions but also want to avoid posting on places like Facebook Marketplace and have at least 1 item a day they would like to post for a specific price ask. This option is for people who have a lot of inventory. You will need to have at least 1 item you can post a day as an NYP (set price) item as well as at least 10 items you can post for auction daily for this level to be a successful option for you.

DO pay attention to the what sellers are looking for monthly post to see if you have an item you can offer directly to a person who is ready to buy it. This is an opportunity to skip the biding process and set a price for the item you are offering.

CLICK HERE to take the official $1 auction training and set up a $1 auction in your area!



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