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In general, the limited time factor is one thing that has proven effective with any offer that you choose to implement. This is why eBay auctions are so successful; they rely on the limited time offer to help boost the products appeal to a general audience. The psychology behind a limited time offer is based on the fear of loss that most people have. They don't want to feel as if they've missed out on something or they want to feel smart and special for being one of the few to get a limited time offer. In auctions, it's also about being competitive and better than another bidder.