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How To Sell On Ebay: Pricing Strategy
Many new Ebay sellers make one of two mistakes: eitherthey overprice items to an unsellable extreme; or theylose money on every transaction by setting low startingprices with no restrictions. In this lesson, I am going to go over which pricing strategies to use and when if you are using a ten-dayauction setup. Strategy #1 If you are listing a popular item that you are confidentwill sell for a high price, one strategy you can use isthe ten-day, one cent starting price, no reserve auction.This is the best way to start a bidding war: pull in bidders early with a low starting price and no reserveand give them ten days and two weekends to battle it out. Depending on the profit-margin of the item and the quality and number of your competitors, you may wantto consider using listing upgrades, such as bold, highlight, and feature listing options to ensure your auction sticks out of the crowd. Please note that I do not recommend this strategy for beginners. This is extremely high risk if you do not know how to take the risk out of it - and this is notsomething I can teach you. You must determine this byassessing your own personal inventory with tests. Strategy #2 Now, if you are new to Ebay or want to list an item with undetermined popularity, you can use a safer, butpotentially as profitable bidding strategy for ten-dayauctions. You still wont use a reserve with this strategy. But instead of setting the start price low to encourage a bidding war, you are going to set your start priceto your ideal selling price - and then couple it witha buy it now price that is slightly higher. This will put pressure on the buyer to buy it nowinstead of watching. If she waits, she gains absolutelynothing--and she risks someone else bidding (and ruiningthe low BIN price) or just snatching it with the BIN option. In addition, knowing that she will lose nothing anyway,she will realize that she can get the item up to tendays sooner if she uses the BIN option to order it then,rather than waiting for the auction clock to tick down. The strategy I described above is very safe. I use it for the majority of my auctions and I always getpositive results. At worst, it will take me 3-4 weeksto sell an item, but I wont ever lose money. I justadjust the price to compensate for additional fees. Strategy #3 Another effective way to use a ten-day setting is in conjunction with dutch auctions--or auctions thatsell a number of the same item. Ten-day auctions willgive you the longest amount of time to move the highestamount of products. You may also want to feature ten-day dutch auctions, depending on what items you are selling. If you're selling information products and rely on the quantityof sales for profit, this wont be effective; but ifyou're selling a number of expensive, high profit-marginitems, featuring your auction is probably a good idea. ________________ If none of these strategies works for you, you should consider the following two things: 1) the price other Ebay businesses sell your product for. If someone else IS selling your product, there is a reason for it - and it's probably the price. If you cannot afford to sell ata reasonable price, you need to find a new source to buy from. And if your product's price is reasonable, then 2) you need to redesign your auction and find new ways of pulling in targeted traffic. http://www.workathomerightnow.net/ebay.html -Written by Isaiah Hull, author of "How to Profiton Ebay In Seven Days Without Spending A Single Penny." For a limited time only you can get a pre-publication copy of his book for ONE-FOURTH the post-publication price!
MORE RESOURCES: 'Titanic' Door Prop That Saved Rose (Sorry, Jack) Sells for $718750 The New York Times Titanic's Floating Door Sells for Whopping $718750 at Auction, Beating Indiana Jones' Bullwhip PEOPLE ‘Titanic’ driftwood ‘door’ that saved Rose sells at auction for $700K The Washington Post Controversial 'Titanic' door sells for over $700K at auction New York Daily News NC auctions off abandoned safe deposit boxes WFMYNews2.com 2024 fantasy baseball draft sheet: Downloadable auction values and stats for 650 players The Athletic Auction brings more than $7.5 million for Ponte Vedra Beach home | Jax Daily Record Jacksonville Daily Record Lady Gaga, Amy Winehouse, Martin Luther King Jr.’s Letters to Tony Bennett Being Offered at Auction Variety What Happens to Fashion After It's Sold at Auction The Business of Fashion Spotlight: Brazil's key auctions in April BNamericas English Treasury Auction Relief Rally and Month-End Support Mortgage News Daily ‘Never let go': Controversial ‘Titanic' movie prop sells for more than $700,000 at auction - NBC DFW ‘Never let go’: ‘Titanic’ door prop sold at auction WPXI Pittsburgh This 1916 Babe Ruth Rookie Card Was a Store Giveaway. Now It Could Fetch $500,000 at Auction. Robb Report More Outperformance as Treasuries Fret Over Auctions Mortgage News Daily Controversial ‘Titanic’ prop sells big at auction KTLA Los Angeles American Queen Cruise Ship Fleet Heading to Auction Cruise Industry News Ben Simmons's $17.5 Million Hidden Hills Mansion Is Headed to Auction Architectural Digest Tilda Swinton, Brian Cox and ‘Saltburn’ Star Alison Oliver Items Up for Auction to Aid Palestinians in Gaza Hollywood Reporter Lady Gaga, Madonna, Amy Winehouse messages to Tony Bennett going on the auction block – WJJY 106.7 WJJY Marten Stanmore: Becoming the Go-To Place for Art Auctions, Redefining the Art Investment Space Yahoo Finance Pickens Auctions Annual Spring 24 Equipment Sale at Payne County Expo Center Visit Stillwater, Oklahoma Disney concept art, audio-animatronics available for bidding during upcoming auction KTLA Los Angeles 2024 Sonoma County Barrel Auction Lots Announced wineindustryadvisor.com Allegany County Tax Foreclosure Auction Postponed - THE WELLSVILLE SUN THE WELLSVILLE SUN 'Titanic' floating door prop that saved Rose — but sadly not Jack — auctioned off for startling amount New York Post The golden Apple: Jobs business card makes nearly $200000 at auction JustCollecting News Wood panel from Titanic fetches more than $700k at Dallas auction The Dallas Morning News 'Titanic' door sells for over $700k at auction Entertainment Weekly News Mixed Performance. Data Hurt. Auction Helped. Little Changed Mortgage News Daily Dessert Auction | | newsandtribune.com Evening News and Tribune 'Titanic' prop door fetches $718,750 in auction, reignites debates Türkiye Newspaper SOLD! 230-acre Iowa century farm brings nearly $4 million at auction Successful Farming ‘Titanic’ Door That Jack Tragically Couldn’t Fit on Nabs More Than $718,000 at Auction Rolling Stone 4-H spring, celebrity autograph auctions planned for April 12-13 - The County Press - Thecountypress GM Financial Announces 2023 Auction of the Year Winners Collision Repair Mag Steve Jobs signed Apple Computer business card achieves over $180000 at auction — about 14X more expensive ... Tom's Hardware TITANIC DOOR AUCTION Buffalo News Lincoln, Trotsky, Darwin, and Einstein Lead Fine Autographs Auction Fine Books & Collections Magazine Online Pennsylvania unclaimed property auction being held this week; here's what you can bid on Yahoo! Voices Erik Jones Marks Fourth Anniversary of #ReadwithErik Program with Book Auction – SpeedwayMedia.com SpeedwayMedia.com Titanic 'door' sells for more than $700000 at auction LiveNOW from FOX Montrose Auction Doubles Online Exposure For 800-Lot Sale, Reaps Nearly $650000 Antiques and the Arts Online A Boom in Luxury Home Auctions Is a Boon to Buyers Mansion Global Cars, trucks, and jewelry: Jacksonville Sheriff’s Office to hold property auction end of March ActionNewsJax.com Court Tells Sotheby's to Reveal Its Auction Clients in 'Nazi-Loot' Case The New York Times Nearly pristine copy of first-ever Superman comic expected to sell for record-breaking price at auction New York Post |
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