eBay Success - How to Price Your Items

Many new sellers don’t realize how important pricing

is when it comes to eBay auctions. Many don’t even

realize that ‘pricing’ needs to be done. eBay is an

auction site after all! But eBay auctions are not quite

the same as the auctions you attend in the offline

world. In fact, quite a bit of work goes into

determining and setting prices.

Essentially, there are only three prices that can be

set for an eBay auction: the ‘buy it now’ price, the

reserve price, and the starting bid price. Of these

three, the starting bid price is the only one that is

required for an eBay auction. The reserve price and

the ‘buy it now’ price are optional. The starting bid

price is fairly simple – never set it higher than $50 or

so – no matter what your item is really worth. This

low opening price will get bidders to your auction.

Setting low starting bid prices creates the need for a

reserve price. A reserve price is the absolute lowest

price that you want to get for your item. You may sell

the item below the reserve price, but you will not be

required to. In other words, if you set your reserve

price at $100, and your highest bid is only $50, you

do not have to sell the item to the highest bidder.

You can close the auction without any negative

feedback or repercussions. Set your reserve price

at the absolute lowest price you are willing to sell

your item for. Keep what the item is worth, as well

as what it cost you in mind.

The ‘buy it now’ option will allow you to set a price,

and buyers can buy the item immediately, without

bidding, for that set price. This option can be used

for any type of item, and it should be set to match

your reserve, give or take a few dollars. This option

is great if you have multiple identical items to sell.

Shipping has a price, and potential buyers take this

into consideration when they are looking at an

auction. If you can see your way clear to offer free

shipping, you will find that people are placing more

bids. Make sure that your potential buyers realize

that you are offering free shipping!

Before setting any prices, you need to determine

what the item is really worth. The value of the item in

different markets might be quite high. However, you

are selling on eBay, and it is a different world

altogether! Find out the price that similar items sold

for on eBay before setting any prices. If it is a

collectable, or a high ticket item, have the item

evaluated to ensure that you aren’t going to lose

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How to Sell Expensive Items on eBay

Selling expensive items on eBay is really no different

than selling low cost items. Essentially, no matter

what you are selling, it all comes down to how you

market the item. This doesn’t mean you have to

surf around the Internet placing ads here and there –

when it comes to eBay auctions, the marketing is

all done at the eBay website. Basically, when you

set up your auction, you are setting up an

automated marketing campaign.

First, you must determine what the value of your

item is, in three different ways. This will help you

determine what your reserve price is. On eBay, the

reserve price is the lowest price that you are willing

to accept for your item. First, have your high priced

item evaluated to determine what the actual market

value is. Next, research similar items from past

auctions at eBay to see what price those items sold

for. Finally, determine what the value of the item is to

you. With this information, you should be able to

determine the lowest amount you are willing to sell

the item for.

Set your reserve price, and then set your opening bid

price lower than $50 – no matter how high your

reserve price is. This is a marketing tactic. It will be

hard to attract potential buyers to an auction for an

item selling for hundreds or thousands of dollars –

but getting them to an auction where the opening

bid is only $50 is quite simple. Remember, you don’t

have to sell the item to anyone who bids less than

your reserve price – unless you choose to do so at

the close of the auction. This method of price setting

resembles marketing gimmicks used by offline

businesses that are simply designed to ‘get customers

in the door.’

Work hard on the description for your listing. Use

words that really describe your item well. Provide as

many details as possible, including details that prove

the authenticity of collectible items. Include pictures

of the item as well. Do not try to deceive potential

buyers! If the item has marks or scratches, simply

be honest about it, and make sure that the pictures

convey this as well. State how the item will be

packed and shipped. Also let potential buyers know

that shipping insurance must be purchased as well

– in case the item is damaged once it leaves your

possession.

For higher priced items, most eBay buyers feel more

comfortable using an escrow service. Offer this as

an option in your auction, with the understanding that

the buyer must pay for the service. This protects both

parties from fraud, and it makes many buyers more

open to spending the money to obtain the item.

eBay has partnered with an escrow service that is

commonly used for high ticket items.

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Hot Selling Items for eBay Auctions

Many people who are trying to start an eBay

business spend a great deal of time trying to figure

out which items sell the best on eBay. Many of these

people have elaborate systems for determining this

information, and many others purchase expensive

courses that teach them how to find this information

as well. None of that is necessary. Everything you

need to know is right in front of you – on the eBay

website!

Take a look at any category, and you will see the

word ‘hot’ beside some items. These items are not

marked as hot sellers randomly – there is a method

to the madness! Items only get marked as hot when

there have been more than thirty bids placed on

the item. All you have to do is wonder around the eBay

website for a while to find an item that will do well.

However, most power sellers will agree that there is

more to figuring out which items sell best than this.

In fact, they claim that it is a science. A great way

to start your search for items that will result in a

successful auction in the future is to do research on

the auctions that were successful in the past. You

can view old listings that have completed at:

http://listings.ebay.com .

A new way to determine what items sell best on

eBay is ‘eBay Marketplace Research.’ Marketplace

Research will allow you to view important statistical

information on the buying trends at eBay. This

product contains all of the data one could possibly

ever need to determine how well – or how poorly –

an item will do in an eBay auction. There is a small

fee for using the eBay Marketplace Research tools,

however.

Another tool that will be very useful in your quest for

finding hot selling items for your eBay auctions is the

listing of popular eBay search terms that is found on

the site. This list can be found at:

http://popular.ebay.com/ . This list is divided into

categories, which will make it easier to determine

how popular your potential item may be.

Don’t make the mistake of thinking that an item will

do poorly, or that it will do well without doing your

homework on the item first. Some of the strangest

things sell for the highest prices, while items that

would sell quickly in any other environment just sit

there. Almost any eBay Power Seller will tell you

that the key to a successful auction rests in the

amount of research you put into the items you

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Shipping eBay Items to Customers

If you stock the products that you sell on eBay, as

opposed to drop shipping, you probably spend a

great deal of time and money shipping items to your

customers. If you are a big success on eBay, this

could quickly become a problem. Organize your

shipping practices before they get out of control!

Keep stamps, packing materials, and boxes on

hand. You can have these items delivered to you,

which will save you a lot of time. Use large padded

envelopes instead of boxes whenever possible. These

envelopes are easier to handle, and usually cheaper to

purchase. Furthermore, they often weigh just a little

less than cardboard boxes do, which will save a bit of

money on the postage. Purchase stamps and packing

materials online. Not only will you save time, you will

save money as well.

If you ship a lot of packages, purchasing your own

set of postage scales will increase your efficiency –

the expense will more than pay for itself. Other items

you should invest in include a rubber stamp, label

printing software, a good printer, and labels. Either

use a stamp for the return label, or keep a large

stock of pre-printed return labels. All you need is a

plan and a little bit of organization to successfully

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