There are many sellers sometimes selling the same items on eBay. This can be a good & bad thing. On the one hand, you can get a good estimate of what you can get but on the other, you might lose a sale to someone else. Of course, it's rarely that black & white. What is very black & white is the
price you get & the price the other seller gets for selling, more or less, the same item. If they sell at a higher price, then you've got to wonder, "What in the world am I doing wrong?" It could be anything & there's no way to be 100 percent sure. But if something like this happens, then a good idea would be to
compare the two auctions; look at the actual pages. Did they use different/additional promotions?
Much more detailed descriptions?
Pitched the product better?
Does the seller have a higher rating?
Did they offer warranty &/or return?
As you can see, there are many different factors for you to look at. Generally, if you have 10+ feedback, 100% feedback rating, you're pretty much half way there. The rest is all in how you pitch your product.
Peace of Mind - Trust is the Key
People are willing to pay higher premiums for a
peace of mind. This can include a "return gaurantee, no questions asked" which shows that you have a lot of confidence in the product and that if anything does happen to go wrong, they've got this option to fall back on. You can even claim a higher price for this option, especially if you're selling a pricey good. Generally, you shouldn't have much people at all claiming this option. But of course if you're selling dodgy goods which you lie & mislead about, then you're bound to get into strife!
If you're offering normal post for say $6.00, offer registered for a cheaper price, eg. $0.50 instead of $2.50... This can influence the end price significantly &/or who the buyer decides to buy with. You can also try giving FREE postage for a pricier good (which can make your product really stand out).
You should be
patient. If you're selling a product that's not-so-popular & noone bids on it, that's OK. Make sure that if you're on for less than 10 days, you switch it to 10 days before your listing time is up to ensure maximum exposure. Then just relist it. If you've set a reasonable price, there's bound to be someone that's willing to by the product believe it or not. I thought I could never get rid of my
used shoes -- after 2 relists, it sold for $35 which was worth it for me. You just leave it on there. Relist it if it's worth the profit AFTER FEES. The key to remember here is that if you're selling something that seems rather obscure & only one or two people would be interested in, set a
reasonable price, not something ridiculously low eg. $1 just because you think it won't get bids. If you do set it at, say, $1 and there was only one person willing to buy the product and pay, say, $20, that will be the only person bidding. Thus, the final price will be $1. The trick is obviously finding price people are willing to pay. If you have something that noone else can get, something that's unique in other words, then you can use that to your advantage & begin with a relatively high price. If it's just an old computer book from 1988 in a software that's no longer being used, then $1 would be more than appropriate.
On the other hand, if you have an Ipod (which are currently still very popular, if you don't know already) you want to sell, then starting the bid at $1 is a good idea as there would be many interested buyers & the low price will encourage bidding from the start. So,
small amount of buyers, set
many buyers, set
Encourage early bidding in your auctions. As mentioned, that always helps get things started. Whenever a product has bids, people tend to think that "if it's good enough for them, there must be something good about it". That's even what I think sometimes. Especially when you see piles & piles of listings for one product you're after, this is the criterion you're probably going to start discriminating on (ie. products w/ bids vs products w/ no bids).
Maximising Your Final Sale Price
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16 July 2006
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