Online auctions: 5 tips for best selling

The auction mechanism is known to everyone but it is believed (erroneously) that it is an opportunity reserved for a few experts. In reality this is not the case. Above all thanks to the possibility of participating in online auctions, access to this world is simple and within everyone’s reach. This is demonstrated, for example, by the great success it is having Catawikithe largest European online auction platform, suffice it to say that the Dutch company makes available to collectors more than 75,000 references per week and to date it has sold more than 15 million items.

Sometimes even without having adequate awareness, we have objects at our disposal that could have a fair value and could represent a good opportunity for extra income. Among the most successful objects are the fashion-related goods and of course also luxury products like watches, wines and fine spirits, but collectors are also crazy about pop culture.

Sports, music, films and animation, as well as Pokémon and Lego, ranked among the fastest-growing themes for buyers on Catawiki in 2022, up more than triple digits year-over-year. In short, it’s worth taking a peek into the cellar. But once the most interesting objects have been identified, what are the indications for selling them best?

We asked the Dutch company’s experts for some advice and drew up a short handbook for sellers. Here’s how best to move:

1. Propose the objects as best as possible

For items to be accepted for auction, they must be special or collectible – something that is rare, unusual or extraordinary. In Italy the most popular ones are watches, jewellery, modern and contemporary art, wines and classical art. When offering products it is a good idea to use quality photographs and a comprehensive description to capture the attention of buyers. Buying online means potential bidders don’t have the chance to see the item in person, which is why high-quality photographs and detailed descriptions are essential.

2. Choose your seller name carefully

Using a generic name (for example, ‘user12345’) may influence user perception. At a time when the Internet is saturated with misinformation, names like these are often viewed with suspicion. Using a real and authoritative name helps to:

● Create a professional appearance, giving you more confidence in your items

● Be instantly recognizable to all buyers

● Live up to the most successful top sellers on Catawiki, who all have a personalized name

3. Increase your social media presence

Being active on social media is an easy and essential way to let the community and potential buyers know what you’re selling. It’s best to create a dedicated account for this business, which will not only allow you to separate work information from personal information, but will also help you cultivate a more authoritative image.

● Create a company account that allows you to use multiple tools for deployment and tracks results

● Use mentions and tags to engage your audience and use relevant hashtags

● Schedule posts at optimal times when your audience may be most active and present on the platform, such as mornings and evenings (before and after working hours during the week) and early afternoons on weekends

● Community management is essential: monitor the comments and messages you receive and respond to users as promptly (and professionally) as possible

4. Plan the best time to auction your items

If you want to get the most out of the auction, it’s ideal to list items at a time when there is less competition – such as during the summer season or holiday season – to increase the chances of the item being noticed. It might also be helpful to consider global events or celebrations: for example, offering red fashion items for Valentine’s Day or a classic convertible car in spring.

5. Decide whether to include the reserve price

If the estimated value of the item is at least €200, a reserve price can be set. This is the minimum amount that must be reached for the item to sell. However, on average, an item with no reserve price attracts almost 30% more bidders.