How to Use Pricing Strategies for Your eBay Business
Choose a low starting price., Choose a cost based starting price., Choose a buy it now price.
Step-by-Step Guide
-
Step 1: Choose a low starting price.
This means your starting price is only 99 cents or a couple of dollars.
There are many benefits to low starting prices.
First of all, you’ll save a significant amount of money on listing fees over time.
Your listing fee goes up as you increase your starting price.
Also, low starting prices encourage a lot of bidding.
This can be very helpful to draw people into your auctions.
Many folks are highly attracted to auctions with lots of bids.
They equate the number of bids an item has with its desirability.
More bids are better than less bids in any case. -
Step 2: Choose a cost based starting price.
With this method you start the bidding at the cost you paid for the item.
So if you paid $25 for something, you start the bidding at $25.
This method removes the risk of losing money.
You're guaranteed to at least break even with this model.
Do remember though, that your listing fees will be higher, and you may deter bidding action due to the higher starting price.
Use this system on items that you're not sure will sell well.
It’s acts like insurance. , It lets impulse buyers buy without waiting.
It’s a great way to sell more products.
Do remember that the buy it now option disappears after the first bid has been placed on your item.
That’s ok though.
The buy it now option has always worked well for me.
It should for you too. -
Step 3: Choose a buy it now price.
Detailed Guide
This means your starting price is only 99 cents or a couple of dollars.
There are many benefits to low starting prices.
First of all, you’ll save a significant amount of money on listing fees over time.
Your listing fee goes up as you increase your starting price.
Also, low starting prices encourage a lot of bidding.
This can be very helpful to draw people into your auctions.
Many folks are highly attracted to auctions with lots of bids.
They equate the number of bids an item has with its desirability.
More bids are better than less bids in any case.
With this method you start the bidding at the cost you paid for the item.
So if you paid $25 for something, you start the bidding at $25.
This method removes the risk of losing money.
You're guaranteed to at least break even with this model.
Do remember though, that your listing fees will be higher, and you may deter bidding action due to the higher starting price.
Use this system on items that you're not sure will sell well.
It’s acts like insurance. , It lets impulse buyers buy without waiting.
It’s a great way to sell more products.
Do remember that the buy it now option disappears after the first bid has been placed on your item.
That’s ok though.
The buy it now option has always worked well for me.
It should for you too.
About the Author
Beverly Cook
Specializes in breaking down complex lifestyle topics into simple steps.
Rate This Guide
How helpful was this guide? Click to rate: