I always list on either Friday or Thursday afternoon/evening because I find that most people get paid on Thursday. I like the 7-day auction but I alwaysd include chat I consider to be a "fair Buy-it-Now price" for those that might be in a hurry.
Here are some general tips to follow: Write a title that accurately describes your item. Use the exact manufacturers name and model number within the title if applicable. This will make people searching for your item easier when they use the eBay search tool.
Write a detailed (but not overly complicated) description that allows prospective bidders to make a faster decision about purchasing the item. The description can never be too long as long as it is accurately describing the item. Accurate descriptions are a must. You want every buyer to get exactly what they expect when they made that bid.
Always include a photograph. Pictures sell items faster and good pictures sell even better. There are a very small percentage of items that don't need a photograph. The rest do. Provide multiple photographs especially for expensive items.
List your item in the most appropriate eBay category. Many buyers’ only search eBay by looking at listings within categories. If you are not in the right eBay category you will not be seen by lots of potential bidders and you item may end up selling for less than it's worth.
Shipping Terms should be clearly stated to avoid problems later. Charge a flat rate for shipping, and mention the shipping costs prominently within your auction description.
As for payment, the easier you make payment for customers, the more likely they'll be to give you their business. The most popular payment method these days is PayPal, which lets members send money to anyone with an e-mail address. Return Policies should be clearly stated as well to avoid future complications.
Always answer bidder email inquiries immediately or at least ASAP. If you wait, you may lose a bidder. A full-bodied auction ad will help reduce excessive bidder inquiries.
Most winning bidders will expect you to take the initiative to complete the transaction after the auction ends. Contact winning bidders by email within a half-day (a half-hour is better) after the auction ends and restate the details of your sales requirements.
Keep a record of all documents, including the auction ad and all emails, for reference. Provide the buyer with a receipt. After the transaction is complete, don't forget to submit feedback on the winning bidder.