fishinbiz
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posted on January 11, 2003 07:48:16 PM new
Hi all, I'm am trying to find info on starting prices. I have heard many people say start near or at the item cost plus ebay cost. Others say to start at a penny and the price will be bid up.
How do most of you decide on a starting price?
Is starting at a penny a good idea?
Thanks
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cdheer
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posted on January 11, 2003 07:58:04 PM new
It probably depends on what you sell.
For what I sell, I usually start at an amount that I know will:
(1) Cover my eBay fees
(2) Cover my AW fees
(3) Cover my item cost (if any)
(4) Cover my packing materials (if any)
Often this is just 99 cents; an awful lot of what I sell costs me nothing at all.
But high starting bids never work for me. They seem to discourage bidding. Still, you have to start high enough to recover your costs or what's the point?
--chris
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shop4shoes
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posted on January 11, 2003 08:05:04 PM new
I sell shoes. I start at the price I want.
Sometimes, I do 99 cents days, where all bids start at 99 cents. The bid amount don't really increase, just the number of bidders.
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rarriffle
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posted on January 11, 2003 08:10:22 PM new
i have never had the guts to start at a penny but many do
i start my sales where i won't mind letting the item go...i tend to want to keep everything.
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tooltimes
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posted on January 11, 2003 08:23:13 PM new
If it's a common item and you want to get rid of it then start it at 99 cents or better yet 98 cents or 97 cents as there are thousands that start at 99 cents.
If it is a semi-common item start it at what you paid for it plus all fees and either hope or pray for the best.
If it's an uncommon item then research the heck out of it on ebay and the web and try to determine the price based on that research.
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lindajean
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posted on January 11, 2003 11:13:29 PM new
I started 10 items at $1.00 to see what would happen. Since I was only having a 25% sell through I thought it would help.
Well, it did in sell through rate. My sell through rate went up to 50%, but, I only sold 1 item above $5.00 and 3 at $1.00 starting bid.
Altogether, I made $14.00 which would have been 1 1/2 items at $9.95 I usually ask.
Therefore, I lost 5 items for the price of 1 1/2 and made less on 50% sell through than I would have on 20%.
NEVER AGAIN! Now, I list at what I want to get. If you sell high demand items, low starting bids may work. But, if you sell collectibles, you better start at what you want to get.
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dadofstickboy
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posted on January 11, 2003 11:17:48 PM new
A One dollar start is good for getting rid of things you are tired of looking at.
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JJsGems
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posted on January 12, 2003 09:37:46 AM new
To the guy just above me....you got that one right.
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neonmania
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posted on January 12, 2003 11:36:15 AM new
I was helping a friend get rid of the end of her inventory from a closed Piecing stiduio. We decided to list a number of more common barbells at .01 and see what happened. Because of the hassles, the risk and the fact that if you want to have any hope of selling body jewelry on eBay you have to include gallery views we decided not to do total combined shipping but a discount on each additional item.
Please see the resullting 5 neutral feedbacks from the person that was able to get $20 retail items for an average of 2.20 each with shipping.
Oh yes, and the 3 negs from the deadbeat card buyer who claims that 2.00 shipping is too much. ( I'm tempted to tell him I'll accept a self addressed stamp envelope then send the card with no protectors and accidently spill my Starbucks on the envelope on the way to the post office).
Sorry - I'm negative today. I have 7 negs from 2 bidders who are both deadbeats (the latest is an out an out liar too) and woke up on this, my birthday, to find a lovely email threatening me with more negs for not responding to an email recieved YESTERDAY from a buyer that never filled out the check-out form and sent her payment with ZERO purchase information wanting to know where her stuff was. (I have a few choice piercing recommendations for this little jewel)
Note: Never sell body jewelry - although there are some kind, understand, resposible and wonderful buyers... the majority are pains in the rear end and deserve to be........ ah hell...... Where's my cake? Maybe sugar will help
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kiara
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posted on January 12, 2003 11:52:51 AM new
Happy Birthday, neonmania.
I sell body jewelry in my shop and I agree that some of the buyers are flakes.
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neonmania
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posted on January 12, 2003 12:20:45 PM new
Thank you Kiara : )
Is it just me but can you tell the future whiny factor of a buyer based on their purchase?
Large Gage / Genitalia - Fast pay, polite, return customer - if only they could be cloned
Navel or Nasal - not too bad, pay within 7 days or so, appologetic about delays.
Tongue - can I just shoot you now and save the hassles of having to file against you later?
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classicrock000
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posted on January 12, 2003 12:20:48 PM new
[ edited by classicrock000 on Jan 12, 2003 12:21 PM ]
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fluffythewondercat
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posted on January 12, 2003 12:38:24 PM new
I've said it before, but people are asking again.
Is starting at a penny a good idea?
Let me just put it this way. We ran auctions with the starting price the price we would be happy with getting.
We lost our shirts.
On a whim, I started listing auctions at 1 cent. Made the listing text wacky and fun to read. Included one clear very-detailed picture.
I paid myself $52,000 last year.
You tell me.
Is starting at a penny a good idea?
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lindajean
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posted on January 12, 2003 01:42:51 PM new
neonmania reminded me of something else I had noticed.
The cheaper the item the more complaints from the buyers. ie cheap items appeal to cheap people who want something for free and usually wind up causing me lots more grief than the $1.00 I would have made. Or 60 cents after fees.
Therefore, if I am tired of looking at it, I toss it in the trash or take it to goodwill!
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wendywins
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posted on January 12, 2003 01:56:46 PM new
I usually list at the price I want and have a 25-50% sell through rate (usually one bid).
I then relist the remaining items at half price and have about a 75% sell through rate (and most exceed the original higher price).
If I have to relist a third time, it goes to $1.00. Everything sells and many times, I get more than the original high price as well.
I'll never figure out the system as it is based on fickle(sp?) bidders!
I just listed 10 identical items (different colors and sizes) and started the bidding at $9.99 plus $3.00 shipping. I also offered the incentive to BIN at $12.99 with free shipping. All but two have gone with the BIN and have paid--all in two days!
The key is that the $3.00 ship price is s/h and covers all my fees, packaging, etc. so I make out the same either way! Just get paid faster and am able to clear the items out faster! Works for me!
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neonmania
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posted on January 12, 2003 01:57:32 PM new
I think it coe down to what the final sale amount will be.
If you have an item that is probably going to end in the1-5 dollar range - don't do 01 auctions - the atract the frugal frey. If it's an item that there is no question is going to go higher, start low - why not, attract a few buyers who might not normally bid but may get "caught up in the excitement" and bid more than they would nornmally.
Also - high bid numbers definately attract attention. an Item with 36 bids and current price of $36 is going to attract more curiosity seekers than a $36 item with 1 bid and you never know which curiosity hound will realize that they may just not be able to live another fulfilling day without your item : )
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jensmome
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posted on January 12, 2003 02:05:45 PM new
I really think it depends on what you sell. If I have something in my area of pseudo-expertise that I am positive will get the price I paid plus a nice profit, I'll start low. Things I'm not sure about start at costs plus a couple of bucks. Here's my wacky trend; when I relist the third time I raise the price and it sells 90% of the time. Go figure. And the rest goes to my yard sale boxes.
There's no rhyme or reason to this business sometimes.
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JJsGems
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posted on January 12, 2003 02:43:26 PM new
All of my deadbeat bidders have come from $1.00 auctions. Every time I decide to get brave and start everything at $1.00 - I get tons of bids and tons of nonpaying bidders. It really confuses me as to why some people have so much luck selling at $1.00, and I end up selling everything for $1.00 and crying all the way to the post office.  It just doesn't work for me for some reason.
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neglus
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posted on January 12, 2003 02:58:26 PM new
Im with lindajean and some of the others who say that starting items out at $1.00 doesn't work in all categories. I only know about postcards and I honestly believe that the price doesnt matter all that much to someone who wants a postcard ( i would assume that would be true for many of the collectible items) - there are some items where you will just get one bid from the one and only person in the entire world who wants that item and they would pay whatever you asked (within reason) so you had better start the auction at the price you'd like to sell...or else they willl be the happy winners at $1.00 when they would have paid up to $10.00. There is always an opportunity to lure some not as determined buyers to your item on the relist..I have also had many items sell on the relist at a higher price than I originally asked for the item!!
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MAH645
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posted on January 12, 2003 03:39:08 PM new
If you have alot of items and you can afford to gamble alittle you will probably make a profit on the average. It does bring in early bids which is better than people waiting until the last hour of the auction.
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fluffythewondercat
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posted on January 12, 2003 03:45:03 PM new
mah645 has a point. Bidders are to some extent herd animals. They often feel more comfortable bidding on something that already has a number of bids on it.
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fishinbiz
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posted on January 12, 2003 05:08:12 PM new
Thanks for the replies although it remains somewhat confusing. Basically we sell fishing equiptment, rods and reels along with some misc. stuff.
Little stuff I could make a small profit listing at a buck or two. But our rods, reels and combos run from about $15. up to $125. I wouldn't list the higher priced stuff at a buck but am thinking about starting stuff up to about $30 real low.
The problem is we know what stuff sells for in stores and bargain places and always list far below their prices. It seems we spend more on listing fees than we make. Listing 15 - 16 items then selling 2-3 isn't profitable. We have a low markup.
Now were wanting to clear it all out and purchase other items to sell. Were looking at ways to get a return on our investment. Was thinking starting low might get more bidders but we don't want to end up giving it away.
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pat1959
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posted on January 12, 2003 05:29:39 PM new
fishinbiz:
I'm no longer a seller--just a buyer--but seems to me that fishing rods/poles wouldn't be hot sellers this time of year. Here, the only fishing is ICE-fishing...and that by only the die-hard, crazily addicted fish-fan.
Can't you just store those items until the season is more conducive to your particular product line? My son, a tournament fisherman, starts his serious shopping for new gear in March and April, buys all summer, and really raids the sales racks in the fall. Yes, he has a fortune in unique fishing gear!
Or, perhaps, you could BUY on eBay right now, while the prices are lower for seasonal gear? Would that work for you?
Pat
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