Inernet Auction Report (Final)

Hooray!!! We sold out our items in Yahoo! Auction Finally!!!In the very beginning we were worried about whether the price setting is it too high or too low. But because we believed in "Demand and Supply", we still kept on trying to find some potential buyers through the internet.

Before posting the items on the Yahoo! Auction I was thinking what words I should use in the information part to draw people’s attention. So, I studied a lot of competitor’s posts in Yahoo! Auction. That was really good to read more about what other sellers were writing since it let me know whether I was doing on the track. After collecting the information, I noticed that if I wish my items to be shown every time when people were using Yahoo! Auction search engine, I needed to use some function buttons to gain more attention too. Lastly, we set our bidding price starting from HKD$1,399. Each bid was HKD$50 and the direct selling price was HKD$1,999.

After posting the items on the Yahoo! Auction, I kept on doing some research for my target customers. Luckily, I discovered a potential buyer in a game forum! She had posted a message in the forum and asked for the special version of Xbox 360 x Extra Xylitol and also left her contact number. (OH! What a Big Chance!!!) So, I tried to contact her and left her a voice message to let her know I had the product in Yahoo! Auction and asked whether she still had interest or not.

Fortunately, she replied to me very soon and told me she wanted to buy those items at my direct selling price (HKD$1,999). Since this price had already reached our target, we accepted and gained much profit in this Auction. First of all, the Xbox 360Y was a gift from the Xylitol lucky draw (one pack of Xylitol gum $8 + SMS fee $0.5). The posting price in Yahoo! Auction was $4. So the total cost was only ($8 + $0.5 + $4) $12.5. We gained 160 times the cost! Yeah!!! We were so Happy!!! =)


Below are the Evidence:

Internet Auction Report Phase 2

Inernet Auction Phase 1
Group of Tina & Yanshing

After discuss with Yan Shing. We have many ideas in our mind…
First, we both think that is possible to choose only one of the choices during the auction. So, we choose our choice number 2 “The Special Version of Extra Xylitol of Xbox 360 + 2 games for xbox 360”. After research in different kinds of auction website. We decided to choose Yahoo! Auction as our promotion media. It is because there are less competitor for selling the xbox 360 there, so we have a better opportunity to sold them out. Also, we can offer a more reasonable price in the Auction. As Yan Shing said before, the xbox 360 was won by the Extra Xylitol SMS Lucky Draw Campaign. That means the profit of those items are: 1 pack of Extra sugar free gum (HKD$8) + SMS fee (HKD$0.5) =HKD$8.5!! The lower price offer is our selling point. Also, our target audiences are:
(1) Ready buyer (who really love this special version)
(2) Repair center (some people who needs the parts in the xbox 360)

The original price of the xbox 360 is HKD$2369 now in Hong Kong.
We now sell HKD$1100 (for xbox 360) and HKD$ 299 (for 2 games for xbox 360) = HKD$1399 only! Maybe you think we are making too cheap for the items but our way is to make it into“Both Win” situation. It is because Yan Shing said he got his PS3 already, so he is not that interest in xbox 360. He just want to let the items go and earn some pocket money. On the other hand, buyer can buy those items in the lower prize that may be happy, too.