I consider Ebay to have 2 types of shoppers/bidders. (I realize this is a simplification of the situation, but generally, it’s true). They are: Bargain Hunters and Treasure Hunter.
Bargain Hunters: People looking for a:
- Familiar commodity that they need or want.
- Standardized item they are familiar with and can easily assess the value of.
Bargain Hunters make a calculated bid with the hope of getting something for less than it’s usual price. They know the #common value, and get interested in anything that looks like a discount.
Treasure Hunters: Treasure hunters are looking for something special. Generally the item is:
- One of a kind, or unique in some special way.
- Valuable to different people in different ways.
- Not simply assessed based on the economic worth, but also on the emotional, historical, future, or relational worth. (Economists call this “Private Value”).
Of course real enthusiasts in any category can wear both hats at the same time. Sometimes that ‘68 Chevelle Malibu is worth bidding on because it’s ridiculously priced and I know I could figure out something to do with it if I can get it for $1,200. Maybe I’ll keep it, maybe I’ll sell it, maybe I’ll take a year to figure it out, but it’s so dang cheap, I’m bidding.
Sometimes that ‘68 Chevelle Malibu is worth bidding on – no matter the price – because it was my first car, I want one (now that I‘m forty), and my Google stock just made me a Bazillionaire. I am not bidding based on my perception of it’s value as a commodity, (the Public Value as Economists would call it), I’m bidding based on it being a ‘treasure’ to me, (Private Value as Economists would call it).
Sometimes it’s both ideas at the same time. Regardless of who your bidder is, this blog is entirely focused on marketing the ‘treasure’ type item, to the treasure type buyer. There are other good books, ebooks, and blogs about how to market commodity type items, (that’s pretty much what everyone focuses on in the EBay information galaxy).
Let’s marketing the special, one of a kind, limited edition, never before sold in stores, home-made, hand-crafted, hand-carved, hand-painted, original, type of items. And, if you do that regularly and predictably, in the same category, then this blog is for you.