Q: When is the best and most profitable time to end an auction?
A: The old adage goes, “There is a time and season for all things” - but does this bit of wisdom also hold true for ending eBay auctions?
Many established powersellers claim that auctions are completed at any time of the day or night, with no apparent patterns in the transactions. And with sites and auctions now in different time zones all over the world, eBay can truly claim to be a 24/7 business.
There are many, however, who feel that timing the end of an auction can spell the difference between its success and failure. Studies done by Auction Bytes way back in 1993 seemed to conclude that the best day to end an auction is Sunday.
Ending on a Sunday evening does seem to be very popular with many sellers, who like to list 3-, 7-, and 10-day auctions on Thursday so that they end either on Sunday or Thursday. These are the days, apparently, when many people are online and in the mood to buy.
In my own experience, Sunday and Monday evenings between 7pm and 10pm seemed to be significantly busier than other times. This is similar to what eBay’s own data in the Seller Central area used to say.
But although some people certainly see a spike across these two evenings, it really pays to intimately know the characteristics of your target markets. If your target market is housewives or people living in a different hemisphere, then an evening closing may not be ideal.
Factors you should consider include their timezones, habits and work schedules (including school schedules if you wish to target the student demographic), holidays, and the weather.
At the end of the day, there are no empirical rules backed by volumes of sales data; only the conventional wisdom of those who have been working the business long enough to have that automatic gut-feel for what works and what doesn’t.
Happy listing!
The Auction Expert
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FAQs
Ending on a Sunday evening does seem to be very popular with many sellers, who like to list 3-, 7-, and 10-day auctions on Thursday so that they end either on Sunday or Thursday. These are the days, apparently, when many people are online and in the mood to buy.
What is the best time for an auction to end? ›
As mentioned above, the most popular times for sellers to end their eBay auctions is between 6PM to 10PM EST. The reason that this is such a popular time is that it covers your end-of-workday shopping spike from coast to coast, and takes advantage of the time of day when buyers are most active.
Should I wait until the end of an auction to bid? ›
Don't wait until the last second to bid: Timing is the most important part of winning an auction. Many people place a last-second online auction bid, and while this can be a good strategy, there is a greater risk of running out of time to place the bid.
Is it better to bid early or late? ›
Bide your time. You stand a greater chance of getting the item by placing your highest bid in the closing seconds. If an auction listing has a reserve price, bid up to that amount as early as possible, so other bidders aren't attracted by the low starting price.
How do you end an auction early to the highest bidder? ›
Just start the process of ending the auction. You'll be asked to choose between (1) cancel the bids and end with no winner or (2) sell to the current high bidder. The "cost" is only the final value fee which you would be charged for any auction that has a winning bid.
What is the 15 minute rule in auctions? ›
Most auction sites now employ a 15-minute rule, where any last minute bid extends the auction another 15 minutes. This would benefit the sellers, buyers and eBay itself. I think the difference is that those other auction sites have scheduled auctions. Probably once a week more or less.
When should you end a silent auction? ›
Close before the live
Many nonprofits nip the issue in the bud by closing the silent auction before guests walk into the live auction ballroom. Doing so keeps focus on the live auction, streamlines the event agenda and ensures your fundraiser ends on a bang.
Can I end an auction with no bids? ›
A listing with 12 or more hours left on a listing and no bids can be canceled. A listing having less than 12 hours left, with one or more bids should be sold to the highest bidder. If a listing has less than 12 hours and bids have been received on it, then it cannot be canceled.
What is the 15 minute rule on eBay? ›
In the last 15 minutes of bidding, if anyone placed an upset bid, the bidding started on again with another 15 minutes of bidding, this gave both (or anyone) the opportunity to have another bid.
Is it better to have a higher bid or ask? ›
Should I Buy At Bid or Ask Price? If you want your order to fill immediately, you should place a market order which will fill at the lowest ask price. However, if you don't want to pay that price, you should place a limit order at your desired price.
The bid is supposed to be to the sorority that would be the best fit for them, and it will be one they've expressed interest in joining during the recruitment process. Not receiving a bid is also possible, but it is rare, and there are alternative ways to get into a sorority for those who don't receive one.
How do you know when to bid or ask? ›
The bid price refers to the highest price a buyer will pay for a security. The ask price refers to the lowest price a seller will accept for a security. The difference between these two prices is known as the spread; the smaller the spread, the greater the liquidity of the given security.
What time is best to end auction? ›
I always try to end my auctions around 7-9pm eastern time on Saturday or Sunday. That gives the most attention/eyes on it across the country as the auction is ending.
Do you have to accept the highest bid at an auction? ›
Once a bid is accepted, the seller has no right to accept a higher bid, nor can a buyer withdraw the buyer's bid[ii]. Generally, an auction is complete when the bid is accepted. A binding contract is created by the auction. The seller can also set a reserve price in advance.
What is the fee for ending an eBay auction early? ›
eBay doesn't charge for ending auctions early, unless you cancelled a bid when you ended it, and the auction would have sold.
What is the 10 minute rule at auction? ›
What happens if I bid with 10 mins or less to go ? Any bids placed inside the final 10 minutes of a lot will reset the clock to 10 minutes, effectively delaying the end time for that lot.
What is the best time for a trade me auction to close? ›
Don't forget to answer any questions as soon as possible too. Check out our tips to create a great quality listing. Most Trade Me shoppers are online between 7pm and 10pm, Sunday to Friday, so arrange for your auction to close during this time frame.
What is the auction time strategy? ›
A Google Ads auction-time bidding strategy analyzes different contextual signals (such as device, browser type, location, time of day, remarketing list, and more) in real time to set each keyword bid to display your ads in the best position and maximize performance.
How long should a live auction last? ›
If the event starts to drag on, guests will become tired and head for the exits rather than the silent auction or checkout tables. As Robertson quips, “I've never started a live auction too early, but I've certainly finished them too late.” Most events are 3 to 4 hours long and end around 9:30 pm at the latest.
