eBay "daily painting" auction only bids percentage - limited data
One thing that I have tried, and I am sure other artists have tried as well, is listing my small paintings on ebay under "daily paintings". Since I am one of those left-right brain folks, I needed to understand what my chances of selling a daily painting on ebay were. Recently, I decided to start keeping track of some of the daily painting data. So far, I almost have 30 data points....something needed for a good sampling and reliable statistics. However, my data is still very limited as the info included is not for a very long period of time....just a little over a week & collecting at different times of the day. However, even with those few points and by collecting data at different times of the day, I found some very insightful info that I would like to share. Over time the data will become more meaningful. I definitely plan on continuing this.
Here is what I have found so far (all numbers are for auction only daily paintings):
- the average percentage of paintings with bids is 19.6%
- the average number of paintings listed is 130 (auction only)
- the average highest selling price is $161 with the average shipping price of $8.60
- the average lowest selling price is $8 with free shipping
The data for the highest and lowest bids includes the bid price + the shipping price. There are actually bids that are for much less, but typically it is made up by charging higher shipping fees.
Last year when I did this just by a quick count, the number of daily paintings with bids was closer to 30%. I hope to continue keeping track of this to see if there is an improvement over time. It could be a good economic indicator. Also, I would like to know if is really worth the cost of listing paintings on ebay.
Right now I plan on listing a few of my own paintings each week with a low starting price. This has to do with the fees that ebay charges. I am using ebay as part of a marketing strategy with a small budget earmarked just for listing paintings. It would be great to sell a painting now and then to cover the marketing budget, but that is not my main reason for listing them on ebay. I hope to gain a bit more exposure.
For now, with the very limited data that I have, I am realizing that selling on ebay is not easy. One first should have a strong following or maybe use it to develop one - one artist that I have been watching seems to have accomplished this (more on this in a later post). However, right now I feel that most of my hits on ebay that check on my paintings are probably from other artists. That is ok as artists do buy paintings and one never knows who else might take a look.
By the way, I plan on keeping track of this data and posting my findings every week. I also would love to hear how others have done with ebay and what strategy others have used.