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January 7, 2014

Ebay Selling – Replacement Parts

January 7, 2014

Ebay Pricing/Selling Strategies

January 7, 2014
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When I first started Ebaying 2 years ago, I read a lot about different pricing and selling strategies.  I read about some people who sell using only auctions.  Others only BIN (Buy It Now).

What I found to work best for me is to price things in the higher categories and offer a Best Offer option.  You’d be surprised how many items will sell at full asking price even with a Best Offer.  I also like to price things higher as I’ve done plenty of research on identical items that have sold all over the place in terms of price.  I was willing to wait for that buyer that was willing to pay more.  I know that some folks like to price things a little lower so that things move off the shelves..which leads me to selling strategies.

I normally just price things high and let them sit until they sell.  However, this week I went through my store and have actually created sales on most of my items that have been sitting for a long time..the sales anywhere from 20% – 40% off.  I guess I’m kind of tired of looking at some of this stuff and want it to move.  I have so much new inventory  to list and limited space to put it once it’s listed and I want some of this old stuff GONE!

I’m also definitely more selective regarding what I buy.  I was looking at some old things that I have and was considering donating some of them back to Goodwill.  This doggy bank is one example:

On Saturday I was going through my listings and thinking I was going to get rid of this bank as I had listed in on 9/12.  I did sell it once before in 2012, but when the lady realized what shipping would be to the UK, she backed out.  Then not even a bite.  As soon as I decided to get rid of it, BAM,the next day I got a best offer of $9.  I paid $1.99 for it and shipping was $2.21.  So at least I made my money back.

Hopefully some of the old inventory will start moving soon.

What are you pricing/selling strategies?  I’d love to hear from you!

 

21 comments

  1. I vary between pricing something on the low end to pricing on the high end. It depends on different factors like how many other of the same item are listed. If there aren’t a lot I might price mine high. If there are a lot I see how many are offering free shipping and returns and whittle the listings down to a smaller group and base my pricing off of that smaller sample. I’m always tweaking how I price. With Cassini I’ve been adapting how I price according to what I’m learning about how it works. If with Cassini you might not even see all of the listings for a certain item than it shouldn’t matter so much if you have the highest or lowest or average price. It just depends on if you show up in a search and what other listings you show up with. Hope that makes sense. It does in my head but it’s hard to explain what I’m thinking 🙂

    1. Hi Nancy. I do the same depending on what’s available. But still tend to price on the higher end even if there are a lot, I usually just wait for that buyer that’s willing to spend or when the other items sell out. If there hasn’t been much activity for a long time, I may adjust.

      I really need to read up on Cassini. I heard about it, but don’t know much yet.

      Thanks for your feedback and stopping by!

  2. Good to see a post from you Margaret! Happy New Year!
    I too have had full price purchases on items that had best offer as an option. I find that so strange, but I’m not complaining. I recently took B/O off all my listings though. I figure if it doesn’t sell, I’ll mark it down. That way the lower price is on my terms. I have a high price on my American Girl doll, but I’m offering free priority shipping and I have more and better photos than many other listings that are currently in the auction phase. Once they end and the losing bidders see that they’d be spending the same amount of money if they just bought mine, then it may sell. At least that’s my logic anyway. 😉

    1. Hey Lorraine, Happy New Year to you too!! 🙂

      Hmm..you took the BO off? How come. I always keep mine on….I still like to have the option of a best offer, as sometimes, before I mark an item down, an offer might come in still higher than what you might eventually mark it down too, but at least it gives a buyer an option to offer a slightly lower price than the BIN price. I just sold a tie that I was asking $36 for and the best offer came in at $25..where if I marked it down, it might have been a lower price. I really like the BO options. But do get somewhat perturbed when stupid low bo’s come in. But oh well.. LOL

  3. I do my pricing similar to you. I am not in a hurry to get rid of things, so I price them high-ish with a Best Offer option. Lots of people pay full price though! For things that I know people will be searching for any given week (ie- not clothing, with varying sizes it’s too specific) or things that I’m not really sure what the right price is I will auction. It’s worked for me so far. I’m not a huge seller, but I dabble in it when I have some time.

    1. Hey Stephanie. You might reconsider if you become more involved in reselling and you start running out of room for your inventory. LOL Then you may want some of that old stuff to move off those shelves. 😉

  4. Great post! There are so many different selling strategies that seem to work. I’ve played around with different ones, and what I settled on was starting an item at auction for one week. If you see something in my store at auction, the time to buy is now. My starting auction price is the absolute lowest price I’m willing to take for an item. If it doesn’t sell that first week at auction, the price goes way up with a best offer option, and I wait it out. Some people ask why I bother with auctions, and my answer is that there are some buyers who only do auctions. Basically, I don’t want to miss a potential buyer.

    1. Hi Kimberly. Interesting strategies. I’m guessing your goal in doing the auction first is to move that inventory asap. I’ve considered maybe doing the auctions after a period of fixed prices and starting it then at my lowest price. So good to be able to see how others do it.

      Thanks for the feedback!

          1. Hi Margaret! It varies depending on the item, but at the minimum, I want to profit 3X what I paid for an item. I usually get much more, but that would be my bottom line.

          2. Interesting to hear the different approaches to how people price and sell things. Thanks Kimberly. I’ve read all the way through your blog. Glad you started blogging! 🙂

  5. Good to hear from you Margaret! I usually start things at the lowest option – here in the UK it is 99p unless it is something that I know has value. Now I generally only sell items that are easy to pack and post and so that is why I tend to sell, postcards, vintage sewing and knitting patterns, handkerchiefs, ties and scarves.

    Often things go for just the 99p (like today when a pattern went for 99p) but sometimes a postcard will go for a good price, again depends who wants it.

    I used to sell larger items but the postage charges became very high and then of course e-bay brought in the fact that they add the postage to the final price when calculating their fees.

    1. Hey iforonwy. Happy New Year!!! Thanks for your feedback. My stuff is usually larger things and I do like to sell things with free shipping, then adjusting the price up to include my cost of shipping because of the way ebay calculates their fees. However, some of the really large or heavy items, I will add shipping still. I know some people have lots of luck selling like you with postcards, patters, etc. But I wouldn’t know where to start. LOL

      Great to hear from you! 🙂

  6. It is a free listing time here in the UK provided that items are listed for 10 days. I have some satnav accessories that we have been thinking of listing for a while so hopefully we will get those on this weekend. I also need to list some clothes that are too big!

    All good wishes,
    Iforonwy.

  7. I have just listed some vintage patterns and got to thinking. Is it possible to list patterns,craft books and magazines on esty?

    1. Hey Iforonwy. I don’t know how I missed this comment. So sorry. I’m not that familiar with etsy at all. I know some sellers sell on both platforms, but not me. I’m sure you can…anything vintage.

      Speaking of vintage magazines. I was looking up some vintage magazine completeds on Ebay yesterday starting with the highest priced ones and there were some old 1927 ish? ones that were selling for like $500. Let’s hope we happen upon some of those. LOL

  8. Gosh, we should be so lucky!
    I have been selling a few this past week or so but they are mainly from the 70s & 80s. When did my life get to be vintage!

    Another free weekend here in the UK so I will list a few more things this afternoon. But jy of joys the UK postage will be increasing from the end of the month – again.

    Thanks for your reply and on St David’s Day too! Dydd Gwyl Dewis Hapus!

    1. I had to look up St. David’s Day as I’ve never heard of it. 🙂

      The postage here in the US seems to go up every year now too. It increased again in January! 🙁

      Take care and good luck listing!

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