posted on July 26, 2001 01:44:45 PM new
I sell mainly low-ticket items, so I don't know if this stratagy would work for me as well. But I'm willing to give it some thought. I'm preparing a new batch of auctions right now and the starting price will be $1.50 on each (yep, I know, wimping out by putting that extra 50 cents on), and that's still a few dollars less than what I generally start them out at.
Sales have been OK for me this summer, better than dismal. But I gotta start moving the merchandise. Got a bunch of stuff from the Memorial Day library book sale and in mid-September the next one's coming up. Also, if it takes sometimes 4 times to sell something, I've already eaten those couple of extra dollars in profit on listing fees.
A couple of times I had something that I didn't think would go for very much, so I put it on lower than I would usually start it at, and I wound up with bidding wars and a higher price than I would have expected. So who knows?
With my 12 measly auctions closing last night I ran a quick anaylis on some of the results. (Shoot, I'm already starting withdrawals, I just got to get that garage done so I can get back to making money.)
Investment of $35.00 in merchandise.
Listed 12 auctions
I had a total of 108 bids to equal a total of $301.28
I did some comparisons to sets of 4 plates like mine. The following are all ended auctions.
MY 4 Plates = Start $1 NR, 13 bids, Final Price $51.00
I list all of my items at $1 also. Most of the items I purchase only cost $4 or so, so it is not a big deal. However, I did purchase a Steiff for $40.00; listed it for $1 and it ended at $650.00! That was my highest ever sale, so I dont know how well it would work for everything. However, many of my items sell for a higher price than my competitors. I just sold a jacket that ended at $150 range. There were two others under completed. One sold for $78 and the other in the $90 range. Same exact item, size, and condition. Go figure....
I usually list for 7 days, but things are
a bit slow for me right now, so I have been letting my auctions run for 10. I dont think I would be daring enough to let my stuff go for 3 or 5 days.
The dollar thing works for me. I like to take chances anyway, so it is just part of my personality! I am a gambler at heart....
