I start all of my auctions at $5, regardless of value. I have started items worth $5000 at $5!! The reasoning is simple. When people are browsing E bay listings and see an expensive item for really cheap, they are more likely to actually click on the auction link and investigate further. Increasing the number of "hits" on your auction is always a good thing. Furthermore, you pay less for the listing by using a low starting bid. By using this strategy and having good feedback, I usually get between a 10% and 20% premium over the average market price (E bay average)........
- Oct 9, 1999
- 72,636
- 48
- 91
I'd rather waste .05 on a BIN fee than 2.20 on a listing fee.
The point is, EVERYONE has different ways of different ways of selling their items. YOURS is NOT right and MINE is NOT right. There is no right or wrong. Sometime, it's just a matter of luck. If your Duo listed at $70, someone could have easily said screw you and bid on someone who started at .99 and followed the bid to an ending price of $50 or even $60 and left you with no bids and an unsold item (and wasted insertion fees).
Take my 200GB hard drive I just sold. Started it out at $9.99. Ended up selling it for $265 (-$65 MIR). I was happy with that deal and to me that's all that matters. I do this to make a little extra money on the side and it's fun for me.
That's how I see it.
I'm just saying that if Ebay is flooded with the same item, you're better off inserting it at a higher price. I've seen a lot of stuff go for really cheap that was started cheap when Ebay is flooded. I saw a retail WD 120 gb 8 mb cache drive go for $140 when I got nearly $200 for mine. I think that's well worth the $2.20 insertion fee to make an extra $60, don't you? I sold both of my Logitech Elite Duo keyboard sets for around $70 in less than 2 days (first one sold in under a day). I thought my price was on the high end for what other sellers were getting, but then thought that I didn't insert it high enough after both keyboards sold so quickly. I'm still much happier getting $70 for each keyboard set than $40 or $50 each.
I always check completed auctions on an item. If Ebay is currently flooded with a lot of the same item and there is a wild variance in what people are getting for the item, I'll insert it higher. If Ebay is not flooded and the final prices are consistent, I'll start it at a penny and let it go.
Tip: If I start something high, I always start it at 3 days with a insertion price and BIN price to match. You can always adjust to a 5 day or 7 day auction if need be. Remember, that you can only change the auction if you have more than 12 hours before the auction closes and you haven't received any bids yet. I had to change an auction this morning from a 3 day to a 5 day because it hasn't sold yet. My auction closes at 9:00 pm, so I had to change it sometime before 9 am this morning. I start my auctions at the minimum of days to put my item closer to the top. If you start it at 7 days, it's going to be burried at the bottom. If it comes down to the point where the item doesn't sell, I'll change my price to $9.99 (or anything below $10) and then cancel my auction before someone has a chance to bid at the $9.99 price. Everything but .30¢ for a basic insertion fee (and any fee's like BIN, Gallery, etc), will be credited to me. The only minor rub is that you won't be credited your first insertion fee if you relist this auction and it sells the second time. Woopty doo anyway because the first insertion fee gets adjusted to .35¢, so who cares about getting back .35¢? I usually don't even bother relisting the same auction. I'll just open two browser windows, start to relist and then copy and paste my auction info to a new listing.
For example: If I insert something at $200 with a matching BIN price of $200, I'll be charged $3.30 for the insertion fee and .05¢ for the BIN fee. If my item is getting to 7 days without selling (if your item hasn't sold in 7 days, there is no sense in extending it to 10 days unless it's a unique nic nac type item), just relist it at that point and adjust the auction accordingly. If nobody has purchased my item in 7 days, I'll change my auction to $9.99 and then cancel it immediatly before the last 12 hours. I'll be credited $1.90, so I'm out a total of .35¢ (.30¢ for the basic insertion fee + the .05¢ BIN fee) for trying to get $200 for my item instead starting it at .01¢ and letting it go for (for the same fee).
Now.. If you don't want to mess with all of this, that's up to you. I think it's like playing a game. Sort of like doing all the PM's and deal hunting on the AT Hot Deals forum. After you've done it for a while, everything becomes second nature to you.
Another strategy that I see that works for some and not for others is to either start your item lower than everybody else's or start it for less than $10 and add some rediculous shipping and so-called "handling" fee. If someone understands the Ebay "handling" fee's, all is fine, but I see so many people that feel like they got duped on S&H (especially when you use USPS that has the shipping price on the postage label) and leave the appropriate feedback (negative or neutral). I don't think it's worth the risk to gouge people on shipping and handling. It not only opens you up for bad feedback, but it's also slimy and deceitful. I may want more for my items, but I'm up front about it and don't try any sort of trickery. Plus.. Most people that fall for high shipping and handling fee's aren't the type of people that you want to deal with anyway IMO. I'd rather deal with the intellegent Ebay buyers (kind of an Oxymoron: Intellegent Ebay buyers. Heh).
Can you honestly say that you've never had any dissapointments with the closing of your auctions? Do you cancel a lot of auctions on people? If Ebay gets flooded with a lot of the same item, it doesn't matter if you have a 500-0-0 rating or 13-1-2 rating. I've seen it happen. I've seen relative newbie's with a lower rating get a lot more for an item than a seasoned seller. It's a crapshoot really. You're banking on whether the one buyer (very lucky if you get 2 or more in a bidding war) will be there at the end to bid your item to the price you want. If you have a relatively unique item, your chances are good, but if there are 300 other auctions just like yours, someone's going to pass it up in a hurry and try to get a deal on the next item. Or.. This is where I make out. They will be frustrated with bidding and losing, cut all the BS and find an auction like mine that may be on the high end of what people are getting for the item, but they can buy the item now and be assured that I won't gouge them on shipping and get it to them fast (because my feedback rating tells them that I get things to my buyers fast and don't gouge them on shipping).
The only people that I've seen bid on stuff when it's dirt cheap are newbie buyers with 0 feedback or low overall ratings. Seasoned buyers aren't going to waste their time bidding up until the last minute and then they'll try to snipe it. Or.. They'll just bid their maximum and let it go. Why would a smart buyer want to put their bid out there and just drive the price up on your item? Some people even go as far as enlisting a sniping service (sniping is bidding at the very last minute for those who don't know) to snipe an auction for them. I've started plenty of stuff out at a penny and then watched the results at the end. Some people bid rediculous amounts thinking that they will actually end up getting a $300 hdd for $2. It's sad.
I tried selling a Dell desktop pc about a year ago when Ebay was flooded with the same pc packages (from the hot deals forums). I ended up starting the auction at a penny and cancelled it after it would've closed for $100 less than what I wanted it to go for. I ended up doing this twice and wasn't proud of cancelling the auction on buyers at the last minute. I even got a couple of nasty emails for not using a reserve. I think a reserve is a wasted expense. It turns off your buyers and if you hate paying insertion fee's, you'll really hate paying reserve fees. Anyway.. I then listed the pc at the price that I wanted and matched it with the same BIN price. I researched the completed auctions and the price was reasonable, but at the high end. I ended up selling the pc in less than 2 days and got exactly what I wanted and it only cost me the $3.35. So.. An extra $3.05 made me an extra $100 and I didn't have to have a heart attack about possibly losing money on my auction.
Do what you want. I've said all that I'm going to say. You may be the lucky one that always gets 10%-20% over average for all of your items (I highly doubt it). My gripe is with the people that start it cheap and don't get what I think is a fair market value. They end up driving the price down on something. I guess it's good for the buyers, but lousy for the sellers wanting to make a few bucks trying to do this.
Another tip. Follow up with your buyers. It only takes a few minutes and if you get in the habit of following up, it becomes second nature. If the seller is expecting a package in 3 days, contact them within 5 days and make sure that they got the package. I always use a tracker or the free USPS delivery confirmation numbers to make sure that they get a package, so it's not their word against mine that they got it.
Anyway.. A follow up does a couple of things. It makes the buyer happy that you are taking an interest in their welfare (should improve feedbacks) and it keeps Ebay flakes from communicating with feedback. I've seen so many negative feedback's left because of some idiot buyer getting something damaged or late (after the package is out of your hands) and then leaving feedback before contacting the seller with the problem. You've probably seen it.. Buyer leaves a negative that says, "My item got damaged in the mail". Seller responds, "I wish you would've contacted me first before leaving a negative Too late now".
Not good for either buyer or seller. The follow up opens up a line of communication with you and the buyer in case there is a problem. If there is a problem, you have a chance to resolve it before a negative is left (for a very poor reason) and scars your otherwise perfect Ebay record.Another last tip. If you do get a negative, don't insult the buyer publicly. If someone gives you a negative feedback and then you reply by saying something like, "TOTAL F*CKING MORON LOSER CAN'T READ", how do you think that's going to look to other buyers? I haven't received a negative, but I'd use a very level head when replying and state the facts about what happened. It always turns me off big time when someone responds to a negative or neutral feedback in an inflamatory manner.
Sal
PS.. I don't think I'm a total expert here. I've just given this stuff a lot of thought over the time that I've been a Ebay seller and wanted to pass a few things along (that may be right or wrong). There's a lot of ways to run an auction. I'm just letting you know what works for me.
Salvador, it's people like you that artificially drive the prices of things up on ebay and people end up buying stuff at almost retail. what the hell is the point then? i go to ebay to get a good price, not to buy it at the same exact price i can get it in a store..possibly more after shipping
Come on.. Give me a freaking break. I'm not driving up anything. The market won't let me. If I'm asking $60 for something and the highest that someone has ever paid for that particular item on Ebay is $50, I'm not going to sell my item. OTOH.. If after checking out completed auctions and there is a range between $40 and $60 for an item, I'll want close to $60 instead of $40. How is that driving up price if the most someone has ever paid for an item is $60? If anything, people that start stuff at a penny and let it go are driving prices down and you are benefitting. All you have to do is watch the deals forums and if you don't get the deal yourself and there is a hot one, just check Ebay soon after and you will find a lot of deals on that item because a lot of people start stuff at a penny and let it go. When the market's flooded, a lot of them don't get nearly what I think is a fair market value for the item.
Ebay is still a lot better than retail for buyers for a lot of stuff. Case in point.. Remember the deal on PNY DDR266/PC2100 RAM? We got it for around $33 +tax after a price match. Some got it for nearly nothing after a price match and rebate, but you are limited to how many rebates you can get, so it's not going to be a huge profit. Besides, you have to wait 3 months for a $10 and a $20 rebate. Not to mention all the time submitting the rebate. Anyway.. This PNY RAM is selling between $40 and $60 on Ebay and most retail stores have it between $80 and $100. Sometimes a little cheaper if a rebate is involved. The big exception was CUSA for $39.99 who most of us were PM off of. My point is that retail is $80-$100, we paid about $35 and we are getting between $40 and $60 on Ebay for it. All I'm wanting is to get more of a fair market price for my RAM and get closer to $60, than $40. It's still way better than retail, yet I think it's fair for the seller as well.
Now.. If the RAM cost someone $33 after a price match + tax (around $35-$36) and someone gets $40 for it, why would it be worth auctioning for a seller? You're talking $5 net and when you figure in the Ebay fee's (final value mainly because you only spent a .30¢ insertion fee to get your $40 final price) and then there is PayPal fee's. That should pretty much make you break even. Why someone would even bother Ebaying this RAM after going through all the trouble to get it at this price is beyond me. Maybe the "possibility" (a lot don't leave feedback even after you nag them) of getting a positive feedback alone is reward enough. Who knows..
I wanted to mention shipping. If someone is paying more than $5 for shipping and handling on Ebay for a stick of RAM, they are getting gouged. I can ship RAM anywhere in the US for 2-3 day Priority Mail delivery for $3.85. The most someone should tack on for handling is maybe a buck, so you're looking at $5. Some bozo's are charging $10 shipping and "handling" to make it appear that their item is less expensive than the others. This pisses me off too because in order to compete with these sellers, you almost have to lower your price and tack on the same "handling" charges which I think is a dishonest way to do things.
I hate to say it, but Ebay is based around stupidity. To get a great deal on Ebay you're either going to have to have a stupid buyer or a stupid seller. I'm counting on the stupid buyer and dd3pt is counting on the stupid seller. Well.. I'm counting on a buyer not knowing how to find something like the PNY RAM for $33. I'm hoping that they think the only other alternative is paying $100 at Best Buy for the same RAM. The stupidity on the part of the buyers comes in when these people assume that they can't find it for anywhere less than $100 at Best Buy.
Sal
A big fat zero. I've had an ebay account for years but I've never used it to buy or sell anything. I've always been a bit intimidated (and hesitant, due to horror stories by friends) by it all to be honest.
Heh.. Check this out. I won one of these and plan on auctioning it when I receive it. Someone posted asking if anyone had received this Logitech keyboard yet because someone on Ebay has already listed one.
Logitech Special Edition Keyboard + Mouse
When Elite Duo's are going for $70 on the high end, there is no reason for this one to go be going for $56. That's more than NFS4 got for his Elite duo and this auction isn't even closed yet. Are they bidding more because it's a "special edition" keyboard and mouse? This guy even opened a sealed box to show pix of it that could've been easily obtained (better pix even) on Logitech's site.
I betcha once everyone starts receiving their keyboards, you are going to see a lot of them on Ebay. For those who missed out on one and don't want to pay retail, I'd keep a look out on Ebay once everyone starts receiving theirs. If Ebay is flooded at that time, I'll just hold onto mine until everyone gets done blowing their wad.
Sal
Logitech Special Edition Keyboard + Mouse
When Elite Duo's are going for $70 on the high end, there is no reason for this one to go be going for $56. That's more than NFS4 got for his Elite duo and this auction isn't even closed yet. Are they bidding more because it's a "special edition" keyboard and mouse? This guy even opened a sealed box to show pix of it that could've been easily obtained (better pix even) on Logitech's site.
I betcha once everyone starts receiving their keyboards, you are going to see a lot of them on Ebay. For those who missed out on one and don't want to pay retail, I'd keep a look out on Ebay once everyone starts receiving theirs. If Ebay is flooded at that time, I'll just hold onto mine until everyone gets done blowing their wad.
How do you know that I'm a man?
Sal
45 positives. 42 are from unique users
0 neutral
0 negative
Though my feedback rating would be higher if all the people had left feedback for me as well.
0 neutral
0 negative
Though my feedback rating would be higher if all the people had left feedback for me as well.
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