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Pricing
Selling
is a snap when you're armed with time-tested strategies
for success. Follow these simple best practices used
by eBay's most successful sellers and watch your sales
soar!
1.
Start low
A fundamental principle of the auction process is to create
excitement around your item, which in turn develops into
a bidding frenzy among buyers, resulting in excess returns
for you!
Getting that first bid is critical, as other buyers are
generally more likely to jump in if they see there are already
bids on an item. To do this, many sellers prefer to set
an opening bid below what the item is actually worth. This
can jumpstart bidding activity, and ultimately produce a
higher selling price.
2.
Using a Reserve price
If not used properly, a reserve price on your item can often result
in the same problems as an excessively high opening bid. Buyers
will often lose interest in an item if they place a bid and find
it doesn't meet the reserve. Because they do not know the reserve
price, they may assume the seller is simply asking too much for
the item. They may then move on to similar items that they feel
they have a more realistic chance of winning.
To prevent this from happening, you may want to list your item
with "No Reserve". Items sold with "No Reserve"
typically attract more buyer interest, as buyers know that they
will actually win the item if they are the highest bidder. In
addition, statistics show that items listed without a reserve
usually sell for more than comparable items listed with a reserve.
To minimise potential downside risk, most savvy sellers will search
completed listings for similar items to gauge historical pricing
and potential returns before setting their opening bid. You can
then set your minimum starting bid slightly below this price,
with "No Reserve", and still get the benefit of quickly
stimulating interest from buyers and jump-starting bid activity
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