How To Price Your eBay Items

November 18, 2008 by Tom Lindstrom

How should you price your eBay items? Many new sellers don´t even realize that pricing needs to be done at eBay auctions.Traditional offline auctions where you just attend and start bidding is simple,but at online auctions you need to put some work into determining and setting a price for your items.

Before setting any prices on your items,find out what similar items are sold for on eBay.If it is a high ticket item or a collectible,evaluate the item to ensure you are not losing money by selling it on eBay!

At an eBay auction there are only three prices you can set.

-The “buy it now” price
-The reserve price
-The start bidding price

Of these three prices only the start bidding price is required, and the other two prices are optional.

Setting the start bidding price is quite simple.Because you need people to bid on your items you should never set the price higher than $50.It makes no difference what your item is really worth at this point.

A setting of a low start bidding price creates the need for a reserve price.A reserve price is the absolute lowest price you want to get for your auction item.You are not required to sell your item for the reserve price if you don´t want to. This means that if you set your reserve price at $190, and your highest bid is only $120,you don´t have to sell the item to the highest bidder.You have the possibility to close the auction without getting any negative feedback.It´s important to set the reserve price at the lowest price you are willing to sell your item for.

With the “buy it now” price,you set a price for which the item can be purchased immediately without bidding on it.This price option can be used for any type of item and should be set to match your reserve.If you have many identical items for sale on eBay,use this option.

Because you are selling physical items it means that they need to be shipped to the buyer.Shipping costs money and people who bid take this into consideration. If you have the possibility to offer free shipping, you will see more bids on your items.

More information: How to make money on eBay with your own eBay Business!

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