Save on eBay By Timing Auctions
How much you pay for an iPhone on eBay depends on what day of the week the auction closes. One study found that winning an auction on a Wednesday costs $42 US more than winning on a Sunday.
The study analyzed auction data for more than 10,000 identical Apple 8 GB iPhones sold on eBay during the summer of 2007. Only auctions without a "buy it now" option were included in the analysis.
Sale prices for the auctioned iPhones averaged $642, but successful bids ranged widely, from $100 to $800. The data revealed that the day and time when an auction closed, along with how the auction appeared in eBay search results listings, influenced what buyers paid for their iPhones.
The most expensive day to win an eBay iPhone auction was Wednesday, while the least costly iPhones sold on Sundays. Final bids also averaged $12.30 less when the auction closed after 4 pm Eastern Time.
Despite the lower selling prices, weekend closings were popular, with two-fifths of the iPhone auctions ending on either Saturday or Sunday.
|Day Auction Closes||Price Increase $|
Craig A. Depken II and Brandon Gregorius. 2010. Auction Characteristics, Seller Reputation, and Closing Prices: evidence from eBay sales of the iPhone. International Journal of Electronic Business. 8(2): 170-186.