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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: Travis Kelce Calls Taylor Swift 'My Significant Other' and Auctions Off Eras Tour Tickets at Patrick Mahomes' Gala Yahoo Entertainment Sold! Klimt’s ‘Portrait of Miss Lieser’ fetches $32M at auction… but who was she? The Times of Israel 1991 Audi V8 Quattro DTM race car up for auction Motor Authority Long-lost Klimt painting sells for $37 million at auction The Seattle Times Queen Elizabeth's personal Daimler Majestic is up for auction — and you don't need to be a royal to afford it New York Post Russ Heath's Early 1950s Marvel/Atlas War Comics, Up for Auction Bleeding Cool News Seneca County faces lawsuit over auction sales FingerLakes1.com Crusade for Kids Auction in North East erienewsnow.com Letters to the editor: Art auction collab success! - Riverhead News Review Riverhead News Review Ukraine Auctions Off $200M Russian Yacht The Maritime Executive Rex the Wonder Dog's First Appearance and Origin, Up for Auction Bleeding Cool News Investors Flock to Two-Year U.S., German Bond Auctions but For Different Reasons The Wall Street Journal De Beers Moves Auctions HQ to Botswana IDEX Online 74th Annual Hopkinsville Rotary Auction Tops $560000 wkdzradio.com 'I was just talking to my significant other': Travis Kelce and Taylor Swift's $122,000 surprise at auction 9Honey Celebrity Hopkinsville Rotary Auction wraps up with record-breaking numbers | NewsRadio 1230 AM/99.3 FM - WHOP Al Capone's “Sweetheart” Colt .45 Pistol Announced for Auction by Richmond Auctions StreetInsider.com Sonja Morgan is auctioning her NYC townhouse after 11 years spent on and off the market New York Post ESTATE AUCTION - Hwy 287 S of | Auctions | bozemandailychronicle.com Bozeman Daily Chronicle A Castle Built for a Carnegie Will Sell at Auction Mansion Global Treasures From the Titanic Are Up for Auction, Exciting Collectors The New York Times Long-Lost Klimt Painting Sells for $37 Million at Auction The New York Times Crusade for Kids Auction erienewsnow.com Indian art surges while Chinese antiquities hold firm in Asia Week auctions South China Morning Post ViaBTC auctions 'epic sat' after mining Bitcoin's halving block and holding back rewards - The Block R.A.C.E Fund To Host Annual Online Auction Fundraiser Thoroughbred Daily News Portrait by Gustav Klimt sells for $32m at Vienna auction Al Jazeera English Real Estate Quarterly: Auctions On the Rise Los Angeles Business Journal A Buyer’s Guide to Wine Auctions SevenFifty Daily 1995 Ford Econoline E-150 Conversion Up For Auction Ford Authority John Lennon’s ‘Help!’ Guitar Headed to Auction After Spending the Last 50 Years in an Attic Rolling Stone U.S. Treasury auctions off $44 billion of the seven year notes at a high yield of 4.716% - ForexLive Lucky Hit, another Clarke County historic home, goes on the auction block The Winchester Star Muhammad Ali’s former lawyer auctions off hundreds of items signed by ‘The Greatest’ KTLA Los Angeles 'Helen's Pajama Party' and silent auction returning to Grand Forks after COVID-19 hiatus Grand Forks Herald US sets plan for 12 offshore wind auctions over five years 1470 & 100.3 WMBD Kentucky Wildlife auction surplus sale scheduled for May 6 Kentucky Today Oxford, Maine auctions off abulance NewsCenterMaine.com WCSH-WLBZ GAA Classic Cars at The Palace auction draws thousands Greensboro News & Record To Make Auctions Greener, Publishers Need More Data – And A Guarantee They Won’t Go Broke In The Process AdExchanger 2021 Ford GT Carbon Series Up For Auction Ford Authority |
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