Am I selling myself short? eBay...

Little_Pickle

Hi there,

Just a quick post...
I think I might be underpricing myself somewhat. I've sold a few things this month that maybe I could have made a few more pounds for.

What works best for you guys (I am new and learning all of the time)?

Is it better to have a starting price for items (bidding is done from this price) or is it better to put on a reserve and let people battle it out until the reserve is at least met???

What seems to generate the most cash (sorry to be so harsh, but we're not on eBay to get a haircut are we???)

Thanks guys!
LP
xox

Hintza

Reserves are a waste of money and the irititate potential buyers. So set the start price at the minimum you are prepared to accept.

To be honest I know how much an item should receive within about 5%-10% of the final price. So i tend to start at the lowest minimum and have a BIN just below the highest an item has sold for recently.

So for example I know item sells for +/- £100. I will start at £90-£95 with £100 BIN. My listing is therefore attractive to those who can't be bothered waiting on an auction to finish in 4 days time. OK the auction might get £110 after a 7 day listing but hopefully I will have sold seven in the same time frame. Assuming the other seller and I are paying the same for stock (eg £70) I will make 7 x £30 = £210. Whilst he will have made 1 x £40 = £40.

The knack is not being too greedy and to keep stock moving. You never know when a big seller will come along and shift the goal posts.

Little_Pickle

Hintza, fantastic reply! just what I was looking for! thanks so so much for your help!

LP
xox

themusicbox

You don't always have to have a buy it now price some buyers still like to bid on items! As ebay is so saturated with buyers popular items sell for what they are worth. What is it you are selling? I agree with Hintza, there is no point in reserves. Equally try starting items on 99p - I have sold most of my items starting on 99p and 9.5 out of 10 sell for the expected price. As long as you aim to end the items in the eve and get more ending on sunday it will work. Hope this helps!

Little_Pickle

hey themusicbox, thanks so much!
I am selling my own items (had a big clear-out) and I have sold a few items here and there when I've thought, actually, I might have let that go a bit cheaper than I should have.
I was only looking to sell on some great items that I no longer want.
I guess I could search eBAy (as suggested) and try to find something of a similar price? Hmmm, didn't think of that!
that's what comes with being a newbie I guess!

Thanks again!

themusicbox

Do you use the completed listing function? It shows all similar items that have sold in the last few days. If you look at those listings you can see why they sold for that price. Also, depending on the category look at

http://pulse.ebay.co.uk/

This shows you the most searched words in each category and as long as they match your item you can put them in the title of your listing so more ebayers will find it! It really works and helps make items sell for more.

Little_Pickle

wow! thanks!!!!
squeezes!
xox