Tickle Me Elmo X (TMX) - Update
09/21/2006

Ok, so things did not go so well for me yesterday. None of my 4 TMX Elmos were sold. The reason was pretty clear to me after looking at the auctions and I learned a good lesson about abusing hot-release items and selling things on eBay.

1) Pre-sale auctions get the most money if you can get them to end on the release day itself. That is when people are the most desperate to get their hands on the item. This is where we saw auction end at $305 and $265!

2) When you post your auction, even if it is a 1 day auction, you have too keep in mind that just because you see auctions ending around $100-$110, that does not mean that 24 hours from now your auction will get a similar amount of money.

3) Even if you use a Buy it Now price that is on par with what things are selling for (or even lower) the chances that anyone will actually see it when there are thousands of other auctions on the screen is next to nothing.

4) It seems better to let people bid your items up vs. putting even a starting bid that is 50% of what you think you can get. Bidding is an addictive and competitive activity that people get caught up in. Things change from needing a TMX Elmo to needing THIS TMX Elmo.

I relisted them between $60 and $75 again and they have about 5 hours left on each of them right now so I am hoping to get rid of them this time around. If they don't get sold this time I am going to just keep them and give them away for Christmas and a few Birthdays that are coming up.

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