In yesterday’s post I analyzed the May sold data from Flippa.com to determine which day of the week was best to sell your websites. To my surprise, Wednesday was the most popular day for new listings that sold with Friday a close second.
For today’s post, I analyzed the May sold data to determine what auction durations would be best. If we know what days of the week to list our websites for sale, and if we know how long we should list them for, we’ll have a greater chance of getting them sold!
There is one important thing I have to point out when analyzing the data to determine the optimal auction duration. The analysis and graphs you see here aren’t the literal auction durations that the sellers opted for when they listed their websites for sale. There is no way to get that data because it’s not shown on the Flippa listings. However, the information I could get was the list and sold dates. With those data points, I was able to determine the “days on market” and I could make some reasonable conclusions as to what auction durations were best. With that, here is what I discovered…
The data speaks for itself. Since most listings that sold were on the market for less than 7 days, it doesn’t make sense (in most cases) to run your auctions for more than 7 days. In fact if we look at the “days on market” data at a more granule level, you’ll see most listings that sold actually did so in 3 days or less! Take a look:
Bottom Line
In most cases, if you want the best chance of selling your websites on Flippa, keep your auctions under 7 days regardless of what day of the week you list. And according to the data, 3 days or less is even better.
