Today, I spent the morning getting my sites ready for auction. I am not sure if I mentioned when I like listing my sites? I personally like to list my sites on Friday, Saturday, Sunday or even Monday.
Now many people will tell you that you should never list your sites on the weekend, however, if you list your sites for 3 day auctions like I do then your auction will always finish on a weekday, which is what I like it to do.
You never want your auction to end on the weekend, I have never had any success with it ending on the weekend. I guess people are busy doing other things and they are too busy to bid on auctions. So if you are planning on getting into flipping websites, I highly suggest that you list it on the weekends and let it end before the following weekend.
How Many Sites Am I Selling?
This week, I will be selling 3 sites, unless I can get my fourth one up and running. The fourth site is already up and running, however, I still have to do somethings to it to make it stand out more.
Walk Through On What I Do To List My Sites
Let me tell you what I do to list my sites. Once I have all my sites ready that I want to list on Flippa and you have the auctions ready for them, I believe that I provided you with some tips on how to get auctions written for Flippa. Then it is time to pay. You will want to log into your Flippa account and then click on “Sell Your Website”.
Next you will want to determine if you want to pay a $9 fee or a $29 fee. If you pay the $9 fee, you will be paying a higher success fee after your site sells. The $29 fee means that you will be paying Flippa a 5% success fee. Of course it is totally up to you, however, you have to decide how you want to list it because once it is listed you can not change it, without deleting the listing.
I mentioned before that I start my listings out at $49 or $1. Well here lately I have been starting them out at $1. However, I highly recommend that you put a reserve on the site, otherwise you may end up having to sell one at an extremely low price like I did once. If you do not have a reserve and someone bids $1 and no one else bids on the site, you have to sell your site to the person who bid $1.
Let me tell you, it is no fun to watch your listing and think that you will keep getting more bids only to find out that only one person bid on your site. (I have learned this from experience) if you are going to start at $1 then always put a reserve price.
What Should My Reserve Price Be?
This is different for everyone, some people are happy to get $49 for a site because they have made some profit. I have sold several sites for $49. I can not tell you what your reserve should be, after all everyone is different. I can tell you this though, don’t put your reserve price too high, otherwise you will never sell your sites.
You have to look at it like this, it only costs $10 to get a domain. Unless of course you happen to find some great coupons to get a cheaper domain. I always try to get my domains at a discount, this way my profit margins increase.
Another thing that I do, is I have purchased several ready-made-websites that offer me PLR rights that I can quickly and easily set up. These sites are extremely easy to set up and it only takes me about 5 – 10 minutes to install it on a new domain. However, I try to make it a little bit different before I list it on Flippa. In fact I just registered a new domain because I am considering opening up a store to sell these ready-made-blogs to people who want to flip sites, but don’t want to spend hours setting it up.
Basically, what I am saying is do not get too attached to your site. Be willing to let it go for a reasonable price, you can set a BIN price and set that at a higher price. I usually set my BIN prices for $197. You might not think that anyone will buy a site at the BIN price, but I have had more than 3 sites sell at the BIN price, so always put one.
Keeping An Eye On Your Auction
Once the listing is live, all you have to do is keep an eye on your auction. I set mine up to where I have to manually accept all the bidders. I do this because I want to start communicating with the bidders.
So when someone bids on the auction, I just accept their bid and send them a quick message telling them thanks for bidding on the auction, something like that anyway. I keep doing this till the auction ends.
Basically, that is all there is to it to run an auction. Not all my sites sell, but a very good percentage do. I can’t tell you for sure that your sites will sell, but I can tell you this, they won’t sell if you do not list them on Flippa.
So put your first site up and then come back and let me know how your auction turns out. I would love to hear about it.
Journey To Full-Time Income