Ebay - What works best?

[BluesJunkie]

I've been posting tons of stuff on ebay, but since I only started my ebaying career about a month ago, I'd like to draw on y'all's collective knowledge as buyers and sellers.

If I wanted to sell something for say, $500, would it be better to start at $0.99 with a reserve, or should I start the bidding at $500? What if the price was $100 or $1000? Would you still do the auction the same?

Thanks.

 

[millsart]

Re: Ebay - What works best?

really depends on the demand for the item on a case by case basis.


Personally I start the item at the minimum I'd be willing to let it go for and figure someone should end up bidding at least higher than that.

So in other words, if your hoping to get $500, I'd maybe start it at $300 in order to get some people intrested.

After all, if $500 is the going rate and your starting at $500, I'm probalby not going to be intrested because Id be looking at Ebay for a deal. I see its just a mere $300, well then I'm going to be watching it, as will plenty of others who typically will end up bidding it up higher

 

[JOLLY]

Re: Ebay - What works best?

That's pretty much the way I see it as well millsart.

 

[Lu_B]

Re: Ebay - What works best?

I always start with a low starting price to get more people interested. Its the way my marketing brain works - generating the interest is my first goal.

 

[PFDarkside]

Re: Ebay - What works best?

I've seen to exact things listed, one starts at say $100, the other starts at $1, the one for $100 will get two bids and end at $105, but the bidding war will push the other one to $125 or something, even when the other item is still available.

It also depends on what it is you're selling and how much you want. I bid on a lot of rare, vintage and discontinued pedals, stuff that has a pretty high desireability. If you are trying to sell say, a Boss DD-6 for $10 less than you paid for it new, I don't think either strategy will work.

If you really need a reserve, sometimes putting it in the auction isn't a bad idea, but then again, sometimes people fish to see what the reserve is, bumping their bid up in somall increments. Really, there's nothing like a no reserve $1 starting bid to get people interested though. Pay for the featured item or whatever so people see it and let them go to town.

 

[Lucid_Lunatic]

Re: Ebay - What works best?

When I was doing the 'Bay, I started a few guitars out just shy of what I thought they would bring. They never even got the first bid. They were in the $400 to $500 range and I started them around $100 to $50 less. After they ran the course and no bids, I relisted them for 0.99 cents and no reserve. People went nuts. One brought mid $700's and the other was almost $700. Go figure................

 

[Xeromus]

Re: Ebay - What works best?

No one likes to see a reserve on an auction. Personally if I'm looking for something on ebay, and I come across a reserve auction, even if it's what I'm looking for or want, I just pass it by. It's better to just start it at the lowest you'd be willing to sell it for. That's what I do for all of my auctions. That way neither the buyer's or seller's time is wasted. You wouldn't buy an item at a store if there was a veil over the price tag.

 

[millsart]

Re: Ebay - What works best?

Another option is just Buy It Now

If you want $500, and $500 is a fair price people would want to pay, just BIN and typically someone will jump on it.

I know I often BIN simply because I dont want to bother waiting for an auction to end, bidding, getting beat last second etc.

 

[uOpt]

Re: Ebay - What works best?

I never bid on auctions in reserve.

If somebody else breaks the reserve, fine, but myself - never.

 

[jerryjg]

Re: Ebay - What works best?

I never bid on auctions in reserve.

If somebody else breaks the reserve, fine, but myself - never.

reserves are okay. In fact set a opening bid of 99 cents and then a reserve price and watch people strat bidding out of sheer curiosity.
or you can do waht Im doing on my latest auction.; Set a reserve, and tell people waht it is. Sometimes something such as that piques peoples interest and will work.
I will say that a resreve price is best when coupled with a higher "buy it Now" price.

 

[Fusion1]

Re: Ebay - What works best?

Weird I have tried both ways listing for $.99 and then seems like the items stay super low like someone is waiting to snipe it. I usually take a loss. I have tried setting my set price higher what I expect to get for it and no bids. Either way I haven't been too happy with the end results of selling on Ebay.