I have seen many unsuccessful site auctions here recently, and most of those can be attributed to insufficient information being published by the seller.
A good site description will make potential buyers feel comfortable in bidding on your web site. The more you can tell a potential buyer, the more potential buyers you will have. And, of course, a larger number of bidders will naturally raise the selling price.
Bidders are willing to pay more for a well-documented site, because they are more comfortable that they will be able to avoid hidden surprises after the purchase.
Here are a few tips to help you create a winning auction for your web site:
State Your Revenue
The simple majority of website buyers are looking for revenue-generating properties.
State your revenue numbers up-front and you won't have to deal with a steady stream of questions regarding those numbers during the sale.
List all of the sites revenue streams, including AdSense, YPN, Commission Junction, and Link Sales.
If a revenue stream (such as a link sale) is scheduled to end at some point, document that point.
For sites costing over $500, be prepared to show proof of revenue for the previous twelve months. For sites costing over $5,000, be prepared to show proof of revenue over the previous three years.
List Your Obligations
If you have traded or sold links, those links should be maintained. Document this for the prospective buyer.
Set a BIN Price
Set a BIN (Buy It Now) price, and make it a reasonable one.
Many buyers will ignore auctions without a BIN price.
A BIN price which is too high will discourage potential buyers because they will believe that you are not negotiating in the proper range.
A BIN price which is too low can cost you considerable lost revenue. If your site sells for BIN on day one, you set your BIN price too low!
Set an Auction End Date
All seasoned web site buyers will ignore an auction with no set end date.
In addition, a set end date raises last-minute interest -- which is where prices really go up.
Set a Starting Price
Setting a starting price informs buyers of the low-end of the price range for the web site and makes them much more comfortable in placing a bid.
Remember, you know more about your web site than any potential buyer.
Document Outbound Co-Op Weight
Many buyers are looking to buy web sites with significant weight in the Digital Point Co-Op.