Cool eBay Sites

Unless you have one product that has a clear and cut price margin and selling point, you most likely struggle with the pricing of your online auction items. You don’t want to start the auction too low and you don’t want to start it too high either.

How do you do it? Do you just roll some dice and come up with the price that way?
Here’s some things you might try instead.

• Start at a Dollar. If the item is a popular item and nearly guaranteed to get bids, starting it at a dollar could entice even more bids and start a bidding frenzy.
• Comparison Shop. Take a little time to do a little comparison shopping before you list an item. A little research can go a long way. Find similar items and decide on a starting price and buy it now price based on the previous successful auctions.
• Don’t lose money. If you’re smart, you know what your costs are on each item. Don’t forget to add in fees for listing. Price the item at the break even point. If you only get one bid, you won’t lose anything, but if you get more than one, you make a profit.
• Reserve your right to decline a bid. If you really, really must protect yourself from taking a loss on an item, consider using a reserve price. It’ll cost you a little more in fees and can generally make bidders shy, but if your item sells, you’re guaranteed to get what you want out of it.

Selling items on eBay or any of the other sites isn’t easy. You’ll have to do some research to get your procedures and listing habits down. But with a little work, and a little luck too, you’ll be making a profit in no time.
[tags]ebay,pricing,auction pricing,reserve price,listing fees[/tags]

Bookmark Us: