People have been trying to crack the code on whether Twitter can help ecommerce, and one user is pushing the limits of the micro-blogging service in a new way. Walt Kolenda has been conducting real-life auctions for over 25 years and has been selling on eBay since 1999. A real-life auctioneer who goes by the handle AuctionWally, Kolenda has been testing various platforms, including Twitter, to go well beyond eBay with his online auctions.
Kolenda is now one of the first to conduct an auction on social networking site Twitter, and has been experimenting with holding auctions in different formats online, including on the Bonanzle.com marketplace using its live chat feature.
Kolenda, like many online sellers, is exploring ways to generate revenue beyond selling items online and is blogging about ecommerce and is working as a seller advocate for a site called Dealitlive.com, which holds live video auctions. He is also getting into the seminar and ebook business, and has just published an ebook, "How to do Auctions on Twitter," for sale on his website for $5.95.
Kolenda held his first Twitter auction on July 11th under his AuctionWally Twitter account. He used a photo-hosting service for Twitter called TwitPic to show the item he was auctioning, a Disney Tinkerbell clock.
He used the Twitter hashtag #Twitterauction to let people follow the auction (go to search.twitter.com and enter #Twitterauction, and it will return all tweets containing that term). He instructed bidders to send him a Direct Message on Twitter to place a bid. (He now recommends bidders send bids using the @Reply convention, and he links to Terms and conditions for each auction.)
The bidding for the Disney clock started at $3, no minimum, no reserve, and free shipping, and the Twitter auction ended at $4.
Kolenda believes the days of "throwing up a listing" are gone - "you have to brand yourself," he said. Twitter is not going to work like eBay in that it can't support the volume - you have to do one auction at a time on Twitter. You have to be compelling, and you must have enough followers - 500 followers is enough, he said.
Auctions are generally not a good format for things like iPod batteries, he said. There must be some kind of passionate desire on the part of bidders, whether it's for collectibles, something rare, or for charity auctions.
It seems unlikely that eBay has to worry about Twitter auctions at this point, but they are providing at least one seller with a way to differentiate himself.
Transcript of AuctionWally's First Online Auction on Twitter
AUCTION ALERT! AUCTION ALERT! I am holding my first Twitter auction in 35 minutes! BE HERE at 12 noon to bid! Details to follow this tweet!
about 2 hours ago from TweetDeck
This working Disney Tinkerbell clock 2 be auctioned off HERE on TWITTER in 20 minutes NO RESERVE http://twitpic.com/a01ou
about 1 hour ago from TweetDeck
Twitter auction rules: Free shipping, bidding EXACTLY 5 minutes ends at 12:05, winner must DM me w address my cred @ http://bit.ly/AuxPY
about 1 hour ago from TweetDeck
This is a test for future Twitter auction models but it IS a real auction!
about 1 hour ago from TweetDeck
#Twitterauction starts in EXACTLY 13 minutes lasts from 12noon ET to 12:05ET http://twitpic.com/a01ou
about 1 hour ago from TweetDeck
All my live Twitter auctions will have the hashtag #Twitterauction you may DM your bid, or make it public. U can DM me w/ address if you win
about 1 hour ago from TweetDeck
If your bidding at my auction whether pub or DM hit the hashtag #Twitterauction followed by your bid amount! that's it!
about 1 hour ago from TweetDeck
#Twitterauction has begun for this item, bid starts at $3 no minimum NO reserve free shipping http://twitpic.com/a01ou
about 1 hour ago from TweetDeck
#Twitterauction is for working Disney alarm clock, bid now w/ hashtag #Twitterauction any amount over $3.00 FREE shipping!
about 1 hour ago from TweetDeck
I have my first bid! At #Twitterauction I have 3 do I hear $4?
about 1 hour ago from TweetDeck
Place your bids I have $3 do I hear $4? Here's the item you are bidding on http://twitpic.com/a01ou
about 1 hour ago from TweetDeck
My first #Twitterauction has ended! Winning bidder KD at $4.00 Thanks so much! This was an experiment, watch for more of these!
about 1 hour ago from TweetDeck
