Breaking Even

[galaxy]

Hi owners,

I am just curious how long it took you to at least break even? If you aren't comfortable posting this info, please pm me.
Thanks!

[KSteven7]

Hi owners,

I am just curious how long it took you to at least break even? If you aren't comfortable posting this info, please pm me.
Thanks!

Private messenging is disabled but I will answer that.. Before I found paw I was so far behind it took me at least two months to break even. Also just when I thought I had a really good win ratio, a site or two or three.... would fail and not send my wins. Now that I am on Hiatus I think it will be tougher when I am able to bid on a regular basis. The rules are changing and strategies are changing with it. There are lurkers on almost every site and you have to be more conservative with your bidding or be willing to lose more to establish a reputation.
Good luck and happy bidding

[FIRE]

I think he wants the owner's perspective.

[KSteven7]

Thanks Fire, I guess I am getting tired.... Galaxy you can disregard my post.... Sleepyhead here.... LOL

[Suladead]

Hi owners,

I am just curious how long it took you to at least break even? If you aren't comfortable posting this info, please pm me.
Thanks!

Hello Galaxy,

My name is Randy co-owner of Jeeler.com. We've had some ups and downs since we started, but I don't mind telling you that we have been gifting a lot of items so far. At Jeeler, our prices start at 10% retail and go down a penny with each bid. So if you see our site, and look at our closed auctions, you'll think we're doing really good at first. A little math will tell you otherwise.

We just started back up at the end of August, but based on what we've put into Jeeler we are far from breaking even. However, we do enjoy running the site and giving great deals. Hopefully more people will see that it's worth while to stop by.

This week we are starting up with 9 auctions per day on Friday, Saturday and Sunday. We're also offering more Bid Pack Auctions that we have before so it's a great time stop by and bank some extra bids.

It's a hard business to build up, but we have a lot of fun and hope to keep it going for a long time.

Take care!

[galaxy]

Hi, Thanks all for the input! Yes, I was looking for an owner's perspective. It is interesting to read different posts here and there with users talking about how penny auction owners make money hand over fist! It is proving to be an extremely competitive business to be in, and a lot more difficult and exhausting than users realize!! I look forward to the day when we might turn over at least a little bit of profit. There are lots of ups and downs for sure, Randy! However, we have planned for losses in the beginning stages, and hope that within the next year, we may see some profit in the business!?! The challenge everyday is to get the traffic to the site.

Thanks.