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Thread: Auction Length

  1. #1
    SitePoint Addict yourhostnow's Avatar
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    Auction Length

    Hello

    What's the best length for an auction? 3-4 days? A week? I'm not in a rush to sell it, I'd just like to get the best price possible.

    Thanks for your suggestions.

  2. #2
    Intoxicated with the madness petertdavis's Avatar
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    Did you read this?

    http://www.sitepoint.com/article/whats-web-site-worth/6

    There's an interesting bit on that page about length of the listing.

    But, read the whole article, it's very well done.
    Peter T Davis

    I buy forums - PM me if you're selling.

  3. #3
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    A week is the best time. If your site doesn't sell in a week, your chances are not so good. Less than a week is not good, as some people check the forum on awkward days. If you're selling a big site, don't list the auction on a Friday evening.

    Did you read this?

    http://www.sitepoint.com/article/whats-web-site-worth/6

    There's an interesting bit on that page about length of the listing.

    But, read the whole article, it's very well done.
    The author has grouped auctions by length and divided their total sell price by the number of auctions, and then somehow claims that there is a correlation between the price and length?

    Not only does the current graph not prove any such correlation at all (length of 7 days is worse than length of 5 days? length of 10+ days is worse than length of 9 days??), but to prove a correlation between auction price and length you would have to sell the same site at two different auction lengths and then compare the resulting price.

    Most sites with low values will sell quickly (4 days or less) and large investments will sell more slowly, because they take more time to investigate, and there are not as many people with large budgets ready to buy as there are with small budgets. This is why the graph shows the average sales price is lower for really short auctions. This certainly does NOT mean that somehow a site with low value would get a better price with a bigger auction length. The article is looking at things from the opposite direction.

    And you also have to look at which forum you place your auction in. If you place it in Premium Sites for Sale, you can put up a longer auction length, as

    1. Listings appear on page 1 for almost 2 weeks
    2. You are very likely to conduct negotiations with potential buyers outside the auction. Chances are you may even sell outside the normal auction page.

    If you put it in Established Sites for Sale, in 1 week, you're on page 3! If you haven't found a buyer by the time you're on page 3, your chances of doing it are slim.
    Last edited by Edman; May 12, 2008 at 03:08.

  4. #4
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    Edman, I too have serious reservations about analysis and advice in that article. It's a shame Sitepoint didn't choose someone who is experienced with buying/selling sites rather than someone who has strong writing skills but almost zero experience of the market. I've posted some of my corrections to that article in this thread.

  5. #5
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    Yes, the article has a few inaccuracies, the worst one is the claim that "Experienced buyers will expect to pay for the time that's been spent both developing a site and establishing its position within a niche." That made me go WTF?

    But the worst thing about the article is that its so goddamn long. The people who need it the most don't have the attention span necessary to get through all that. We need a 10 point summary somewhere.

  6. #6
    SitePoint Evangelist happybrian's Avatar
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    Good idea. So can someone who knows about these things do a 10 point summary, or point us to a 10 point summary page elsewhere?


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