posted on December 25, 2000 06:40:52 PM
I was wondering how some of the sellers on here price their items they put up on ebay.
Do you base your price on your cost of the item ?
Or do you price your item by how much it is actually worth ?
I know I list my items for the lowest possible price I can sell it for and cover all my fees. I never use a reserve so that the item sells (and not just gets a bunch of bids without meeting the reserve).
I have listed items which I knew were valued in the 100's of dollars range, but listed them for $9.99 and No reserve simply because I did not pay that much for them.
I am just wondering if you get a great deal on something you buy to sell on ebay do you pass the savings onto your fellow ebayers or do you jack the price up simply because you know it is worth more ?
posted on December 25, 2000 08:50:19 PM
I try to determine the value and the rarity, especially recent closing prices on ebay or bookfinder. I put opening price at the lowest price that I would accept, I set Buy It Now at the fair market value -- then if first bidder uses BIN, I have fair market value and a quick sale; if first bidder bids, I will get at least the lowest price that I would accept on up to wherever the bidding takes it.
posted on December 25, 2000 09:46:29 PM
Before I set my pricing I try to find similar items on eBay.
If those do not show up (I usually sell rather "unique" items, or TRY to..lol) I set the opening price to reflect a decent profit on what I paid for the item PLUS shipping expenses. I almost always use USPS Priority, but I do include the "value" of my time for packing and driving to the PO in the initial bid price...no overinflated shipping costa that way...I have about a 70% sold rate on my items (and I am making a few bucks, this is just a hobby for me), so I must be doin something right.
Keith
I assume full responsibility for my actions, except
the ones that are someone else's fault.
posted on December 25, 2000 10:02:51 PM
Lately I have tried pricing stuff starting at 1.00 because business has been on the sucky side so I figured why not. For the most part things are doing way,way better then they were when I started listing them at the lowest price that I would accept.
An example is something I listed that I expected to get maybe $5.00 (based on the closing price of the same item.) It closed at close to twenty dollars.
My first thought was, "are they high??", then I offered to pay for the shipping (1.50) and everyone is happy.
posted on December 25, 2000 10:03:13 PM
I use a combination of methods: ebay comp prices, book value, cost, average local selling price, etc.
If it appears ebay's the place to get the best return, I price it slightly below the highest ebay comp (after adjustments for condition). Anything over $25 gets a reserve and a $9.99 starting bid.
As background, I'm a fulltime antiques dealer; this is my livelihood and I can't afford to leave selling prices to chance.
posted on December 25, 2000 10:03:39 PM
My Merchandise is all bought wholesale and as there isn't much of what I sell on eBay I double the price and sell everything with buy-it-now at the same price.
The items are actually sold for about 2/3rds the price you would pay at a local store, so the buyer gets a bargain an I make a tidy profit.
If an item is a hot seller I list it at a 100% markup and no reserve without buy-it-now.
I ship at actual cost to the customer by Priority Mail.
I'm lucky as I live four miles from my wholesaler, so I don't have to maintain a large inventory.
posted on December 25, 2000 10:31:40 PM
Absolutely fool proof method.
First, you put the tip of your right little finger in the right corner of your lip. Then, you look up and to the left. Cogitate a moment and a figure will come to mind. Numbers come if you look up and to the left, ideas come if you look down and to the right.
Or, as one wise person stated, "It ain't what you sell it for, it's what you buy it for." True wisdon from Spag's, if you are anywhere near Worcester Mass.
posted on December 25, 2000 10:36:54 PM
Sorry, I don't know how to edit my comments. Of course my comments are tongue in cheek, all of the above response are also valid.
How do you edit your own comments?
Thanks to all the AW experts I have learned to respect.
posted on December 25, 2000 10:40:22 PM
Hi anothertreasure
At the top of your post there is a date and time stamp - just to the right of that a blue edit link. Click on the link, make your changes and hit submit.
posted on December 26, 2000 12:18:35 AM
Price guide books have become even more worthless than they always were, if that be possible. They are outdated quickly, assuming they were anywhere near accurate in the first place. The only thing they are good for is to get an idea if an item is "good" or not
I go by instinct and completed auctions. Most of the time I "win" but it certainly is an inexact science.
When in doubt start it low as possible with no reserve. If it's any good the bidders will let you know.
posted on December 26, 2000 04:57:15 AM
At $1.00-the buyers won't let their "competition" steal anything,and many bidders get involved and drive it up.It seemed scary at first,now I swear by it.Listed 5 items a day before Christmas,and I need to get busy listing more,as they are getting hit pretty well(vintage breweriana)
posted on December 26, 2000 05:18:46 AM
What ubie said, with a 1st-round sale rate of 85% or better (I consider a "sale" made when I actually get valid payment, not whether the item closes with bids.) I've never found it necessary to undercut the competition.
