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eBay Success - How to Price Your Items
from: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 money!
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Online Jewelry Auction News
A Steal Of A Deal (Hartford Courant)
J. P. Bellomo sells stolen stuff on the Internet and has police departments across the country on his trail. But Bellomo is no cyber-fraudster; he's the CEO of PropertyRoom.com, a unique and legitimate online auction site that markets stolen and seized goods for law enforcement agencies.
Read more...RedTag.com: Low-Balling Shipping Costs to Win Customers (E-Commerce Times)
RedTag.com, a discount online retail site, launches today with a $1.95 shipping charge on all orders, one of the lowest such rates in the industry. RedTag.com joins the likes of discount retail sites such as Overstock.com, which sells retailers' excess inventory at a fraction of the price that other sites do.
Read more...Fundraiser: Gourmet Feastival & Silent Auction (Creative Loafing Tampa)
Thursday, August 28... By Leilani Polk The Centre for Women -- a nonprofit that offers various services to local women -- stages its 17th annual Gourmet Feastival & Silent Auction. The fundraiser has grown into bigger digs and takes place in both the Carol Morsani and Ferguson halls at Tampa Bay Performing Arts Center. Guests enjoy a VIP reception, tastes of food and beverages by 30 area ...
Read more...Arizona Auction Systems Auctioneers & Appraisers, Inc. Says Business Owners Can Earn Extra Money and Grow Their ... (PRWeb via Yahoo! News)
One of the quickest ways to secure capital from unproductive assets is to sell them at auction.
Read more...Auction will help protect future (The Oxford Press)
The Three Valley Conservation Trust will hold the fifth annual Auction for Acres from 6 to 10 p.m. Saturday, Sept. 27, at The Knolls of Oxford, 6727 Contreras Road, Oxford.
Read more...