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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: N.J. county to auction surplus vehicles, equipment, electronics. See full list, minimum bids. NJ.com The Photograph Collector – The auctions The Eye of Photography Warren Co. surplus auction ends soon. How to bid on trucks, buses, more before it closes. lehighvalleylive Bing Crosby’s Grand Piano From ‘High Society’ and Other Items From the Crooner’s Home to Sell at Auction Mansion Global Museum Club's contents scheduled for auction on Nov. 8 Arizona Daily Sun 60+ collector cars: Broad Arrow Auctions to offer Ferrari, Jaguar, Bugatti at Zürich Auction Nov 1 Stock Titan Edison, Middlesex County auctioning off vehicles, furniture, equipment and more Central New Jersey News What's up for grabs at the Zanesville Police Department's impound lot? Zanesville Times Recorder The Hispanic Society Museum Prepares to Auction Off 45 Works in Its Collection, and Other News surfacemag.com Every vehicle at the ZPD's auction has a story behind it, from 'misdemeanors to murders' Zanesville Times Recorder Matt Baker's "Party Girl" Cover, True Love Pictorial #5 Up for Auction Bleeding Cool News Wait, what? Ford to put up for auction 2006 GT with no minimum price and $800,000+ value Shifting Gears with Phoebe Wall Howard The Walking Dead Auctions Off Rick’s Hat, Lucille & More in Huge Memorabilia Sale LIVING LIFE FEARLESS What's up for sale at the Zanesville Police Department's Oct. 18 auction? Take a look Zanesville Times Recorder Cars at Richmond Auctions; Events Aid Women’s Health, Animals & More - In The Know 10-12 Greenville Online The Nikola Tesla-Inspired Debut of The Masked Marvel, Up for Auction Bleeding Cool News News Flash • Notice of Sale of Real Estate LENAWEE.MI.us January auction set for Green Mountain Race Track property in Pownal, Vt. The Berkshire Eagle What The Google Trial Is Missing: Data, Not Auctions, Will Decide The Fate Of The Open Web AdExchanger Before Plastic Man: Jack Cole's Silver Streak Debuts in #3, at Auction Bleeding Cool News Broad Arrow Auctions Achieves €26 Million in Sales at Inaugural Zoute Concours Auction Quiver Quantitative Regions Bank building complex in downtown Shreveport is up for auction at Sheriff's Sale Shreveport Times David Dike Fine Art Announces Fall Auction Art & Object You could score a killer deal on a YT bike — or a goat head — at auction Singletracks Mountain Bike News Gooding Christie’s Strengthens European Expansion With Key Appointments Ahead of Paris Auction Motorious Hudson’s Bay will auction off thousands of art pieces and artifacts. Here’s how you can get a piece of the history The Globe and Mail Silent Auction Fundraiser at Glenmere Brewing Company www.warwickadvertiser.com St. Louis Center Announces 38th Annual Fall Dinner Auction The Sun Times News Germany raises €2.5B in dual 30-year bond auctions breakingthenews.net Einstein’s fiddle makes over £1 million at auction Just Collecting Chicago Blackhawks celebrate 100 years with record-breaking centennial charity auction FOX 32 Chicago Robinhood, Udemy, ACV Auctions, eHealth, and EverQuote Shares Are Falling, What You Need To Know Yahoo Finance A Historic Tiara With Ties to Queen Elizabeth Is Going Up for Auction Town & Country Magazine CorvSport Original, In The Ring, E7: Do No-Reserve Corvette Auctions Fetch More Money? CorvSport.com Cruisin’ for a cause: Coast nonprofit auctions restored Volkswagen to fund addiction recovery - WLOX 1989 Ford Probe GT 5-Speed With 60K Miles Up For Auction Ford Authority €26.29M total sales — Broad Arrow Auctions' inaugural Zoute Auction nets 78% sell-through Stock Titan Blythe Russo Auctions Rights To Debut Graphic Novel, Dessert Island Bleeding Cool News Lackluster EU Gas Capacity Auctions Hinder Supplies to Ukraine energyintel.com Better than Black Friday, auction set for Saturday Sequoyah County Times Gober Community Club Hosts Annual Fall Festival and Auction in Gober, Texas, USA, Celebrating Rural Traditions with Food, Games, and Fundraising: Check It Out Now Travel And Tour World Auction expert sees continued demand for farmland Farm Progress Mysterious company wins Marineland Dolphin Adventure auction with $7.1M bid Daytona Beach News-Journal This super rare Ford will be up for auction for first time ever at Arizona event The Arizona Republic Ford Will Auction off a Special Member of Its Prized Heritage Fleet for the First Time Ever Car and Driver Cedar Valley Makers look to raise funds, awareness with auction and open house Waterloo-Cedar Falls Courier INAUGURAL ZOUTE AUCTION ACHIEVES OVER €26M IN TOTAL SALES AND 78 PERCENT SELL-THROUGH RATE GlobeNewswire ‘Oh He's Over There Massaging Cars’ — Car Dealer Reveals His Secrets When Buying at Manheim Auto Auctions MotorBiscuit |
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