Auction 2 A Success?
  • Ok you guys this is not going to be your usual success story because in fact I lost on this flip. The whole point of this post is to learn from where I made mistakes so we can all improve on our flipping methods. In the eyes of most, they would consider an auction with no profit a failure, but we all know in every business and industry there is going to be a loss somewhere. So I look at this as a success because it gives me an opportunity to see where I went wrong with my auction. I'll start by listing the criteria for the listing.

    Auction Listing: Normalseo.com
    Auction duration: 5 days
    Starting Bid: $1
    Reserve: $1
    BIN: $350

    Ok I paid $45 for the site on DP and the site sold for $45 on flippa. We all know that it cost $19 to list and the success fee which was another $5. So in all I lost a total of $25 on this flip in auction fees.

    Things that I did not do during or before the auction:

    [list]
    [*]Sell text links[/*:m]
    [*]Pay For Featured Listing[/*:m]
    [*]Add Extra Traffic to site[/*:m]
    [*]Add More Monetization[/*:m][/list:u]

    The site was monetized with adsense though. I used a copy template from the vip area and made some modifications to the sales copy. The listing had a total of 151 views and 8 watchers. In the end I feel that I could of turned out a little better if drove some traffic to the site and added more ways to monetize the site. Of course a featured listing would boosted the views as well.

    I want you guys to learn from where I went wrong and feel free comment on this with pointer for others may see. An auction that did not sell for more than what you paid for it is not s complete failure but an opportunity to do better next time, so win with not more money but more experience in the flipping business. I hope this helps someone out.:D
    Post edited by Unknown User at 2011-06-18 01:08:41
  • [quote="blillard"]
    Ok you guys this is not going to be your usual success story because in fact I lost on this flip. The whole point of this post is to learn from where I made mistakes so we can all improve on our flipping methods. In the eyes of most, they would consider an auction with no profit a failure, but we all know in every business and industry there is going to be a loss somewhere. So I look at this as a success because it gives me an opportunity to see where I went wrong with my auction. I'll start by listing the criteria for the listing.

    Auction Listing: Normalseo.com
    Auction duration: 5 days
    Starting Bid: $1
    Reserve: $1
    BIN: $350

    Ok I paid $45 for the site on DP and the site sold for $45 on flippa. We all know that it cost $19 to list and the success fee which was another $5. So in all I lost a total of $25 on this flip in auction fees.

    Things that I did not do during or before the auction:

    [list]
    [*]Sell text links[/*:m]
    [*]Pay For Featured Listing[/*:m]
    [*]Add Extra Traffic to site[/*:m]
    [*]Add More Monetization[/*:m][/list:u]

    The site was monetized with adsense though. I used a copy template from the vip area and made some modifications to the sales copy. The listing had a total of 151 views and 8 watchers. In the end I feel that I could of turned out a little better if drove some traffic to the site and added more ways to monetize the site. Of course a featured listing would boosted the views as well.

    I want you guys to learn from where I went wrong and feel free comment on this with pointer for others may see. An auction that did not sell for more than what you paid for it is not s complete failure but an opportunity to do better next time, so win with not more money but more experience in the flipping business. I hope this helps someone out.:D


    First off, let me say that I commend you for looking at this as a success. Often times, we learn the most from these sort of scenarios.

    One thing that stood out to me right away is that you posted in the comments that you will take offers by PM. Did you do that at the beginning of the auction? That's actually not a great idea in my opinion. It takes away from the whole point of listing it on an auction site. Does that make sense?
  • Totally it makes sense. I know I may seem crazy for calling it a success but you got look to the positive because now I get a chance to get some pro inputs and make improvements on the next auction.Now I see how sensitive the comment box really is. Now I know that I didnt mess up with the copy or anything like that just being a dumba$$ and saying willing to take om offers duh the is not warriorforum lol... Thanks Chris for tip.

    Maybe you make a section just these type of auctions where members can learn from the auction that did go so well and allow members to input. In the end it helps us all become better flippers. I will continue to post my auction that are clearly total bust, but we all look at them as a success because we'll get to learn something because with one piece of new knowledge you gain so much more than few bucks, in the end you still get a good ROI on experience.
  • [quote="blillard"]
    Totally it makes sense. I know I may seem crazy for calling it a success but you got look to the positive because now I get a chance to get some pro inputs and make improvements on the next auction.Now I see how sensitive the comment box really is. Now I know that I didnt mess up with the copy or anything like that just being a dumba$$ and saying willing to take om offers duh the is not warriorforum lol... Thanks Chris for tip.

    Maybe you make a section just these type of auctions where members can learn from the auction that did go so well and allow members to input. In the end it helps us all become better flippers. I will continue to post my auction that are clearly total bust, but we all look at them as a success because we'll get to learn something because with one piece of new knowledge you gain so much more than few bucks, in the end you still get a good ROI on experience.


    I like your idea about having a section specifically for auction failures. That was sort of what the "auction discussions" was meant to be but not specific to failure.

    Also another thing to add about the comment, it's against Flippa's terms to do offers via PM. Some people do it, but you aren't supposed to.
  • Good to kow will not be doing that at all
  • Thanks for sharing this info, billard. It has armed me with more knowledge of what to do (and what not to do) before I take the big plunge for the first time later this month.