marki3rd wrote:
Rich,
The information Kuzano gave you is very very good. I buy and sell a lot of camera gear on ebay myself using the same methods that he recommends.
I would only add the following:
Ebay encourages a low starting price like $0.99 to supposedly encourage bidding, but this approach can end up a big looser for you. sometimes you get lucky and start a bidding war, but other times it just happens that you don't get the interest at that particular time. I always set a starting price at my bottom line with a "buy it now" in the hope of catching a committed buyer that doesn't want to wait to the end of the auction. I use an automatic re-listing option and wait for the right buyer to come along.
The other advise I would give is lots of clear sharp photos and a complete well worded description to attract maximum attention.
Good luck!
Mark
Rich, br The information Kuzano gave you is very v... (
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OK, this is good, but it still leaves you unprotected. You need to use the protection of a reserve price IF you use the lure of a low starting price on eBay.
What I do, and what I teach are the three components of a good pricing structure and why.
Low start to get people bidding. Without bidding you have no auction. I use from 1 to 10 dollars as the start... YOU MUST get a bid to get things rolling.
PROTECTION from a price disaster... a reserve at your "No Whimper" price.. the minimum price at which you will accept a sale. Hidden from bidders, but assures you do not GIVE the item away for one dollar. Without a reserve, this can happen.
Sometimes a Buy It Now to lure seriously interested buyers at a fair and attractive price.
That's my protected sale. eBay is now doing two or three free relistings if you choose.
DO NOT forget to add a reserve to prevent catastrophic loss to you. Buyers HATE the reserve system, but it's not there for buyers, it's there for you. Don't give away your goods because only one person looked at your auction.
LOW PRICE StART...sometimes people use a high start because of the hate for the reserve. PROBLEM with that thinking. You get no bids, and no action on your item because you scared people off with your high price. No bids... no sale.
RESERVE. Start low to get bids, but use the reserve to protect your lowest acceptable price. To hell with bidders who don't like the reserve. Those buyers are not seriously interested at a successful higher price, but they are invaluable to the bid process.
BUY IT NOW. Simply put, a fair price that allows a seriously interested buyer close the auction early and be done with it. Collect your money and ship, perhaps within hours of putting the auction on line.
WHAT DOES IT MEAN IF ALL OR MOST OF YOUR AUCTIONS SELL ON THE BUY IT NOW. You are undervaluing your items. You need to re-evaluate your items, because if all or most of your auctions are selling on the BIN, you are not pricing your items high enough.
Do your research on checking the closed or sold listings on eBay. That information is kept for 60 days after every sale. Do price research... not on other sites, but on what items sell for on the auction site by looking at sold listing.
Use the three components of pricing your auction wisely. I have done research on pricing on eBay in the extreme. I spent twenty plus years in sales marketing in banking, goods and merchandise.
I share all this with people in my eBay class. Good listings are good for both buyers and sellers alike. A healthy eBay is good for all of us.