Proper pricing of items to be listed for sale on eBay is one of
the most important aspects of generating interest in one's
auction listing.
If the price is too high, interest will be low, and the
possibility of a sale decreases.
If the price is too low, the seller generates enormous traffic,
yet the final bid might be too low to satisfy the seller's need
for a profit.
The following are steps that will aid in that process.
Step 1: How Much Was this Item Originally Worth
First of all, one must find out how much the item was when it
was bought. This helps the seller set realistic goals as to how
much he will expect to profit from that item.
The seller must remember that the going price for that item
nowadays will be different from its original price. And
depending on the demand for that item, he may get a price that
is better, or worse than the original price.
The seller must also come to an acceptance of the fact that the
buying power of today's $1 is different from that of ten years
ago.
Step 2: Do a Little Research
Sellers should research on the current price of similar items.
This gives them a good standard as to how much they should price
their wares. Searching eBay for successful auctions of similar
wares is the best way to do this.
Step 2: How Much Has the Item Depreciated?
The seller must check the item for damages and other
irregularities from a mint conditioned item of the same kind. He
must then deduct a reasonable amount from his asking price. Wear
and tear tends to bring down the price of an item considerably.
It is wise to make sure the items are repaired, or spruced up
before being auctioned.
Step 3: Start It a Little Lower than Usual
It is wise to start an auction a step or two (or even three)
lower than a sellers intended price. This generates interest in
the item. It may be hard to believe, but auctions that start
lower than its intended price actually have a better chance at
overshooting that intended price.
Professional opinions are available if the seller is in doubt of
the value of his or her item. Third party appraisal companies
help in this regard. A list of such is available at the
Authentication & Grading link under Protection and
Authentication on eBay.
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