How To Price Your Item Correctly On Ebay


Auctions Online:

Many new ebay sellers often fall into the pricing trap. Either they price their items too high to be unsellable or they price it too low to make any profits.

Some basic information on ebay pricing. Ebay has three prices that can be set for an auction.

The "Buy It Now" Price

Allow bidders to buy the item at a fixed price immediately without waiting for the auction to end. Effectively, it also means the auction will end once it has a bidder. The only exception will be in dutch auctions.

The Starting Bid Price

Any auction will require a starting bid price. This is the price set by the auctioneer when he/she first lists the auction.

The Reserve Price

This is the pre-determined price set by the auctioneer. Bids will need to exceed or equal to the reserve price before it will be sold. If an auction ends with the reserve price not being met, the item will not be sold.

Both the "Buy It Now" and reserve price are optional on ebay.

It is important that your starting bid price be set low to attract bidders to your auction. My advise would be to set the starting bid as $0.99 or lower. As a rule of thumb, never set it higher than $50.

What do you do then if you can't sell an item below a certain price? The answer is to set a reserve price. That way, you do not have to worry about selling an item below your profit margin.

Also, it will not affect your feedback rating.

Another potential pricing issue on ebay is shipping. Most disagreements between buyers and sellers occur because of shipping cost.

My advice would be not to overcharge on shipping since most buyers take shipping cost into consideration when looking at an auction. Also it is relatively easy for buyers to determine the shipping cost since ebay and most shipping services such as USPS and fedex provide one.

It is fair for sellers to charge a little for handling charges since it take work to package the item and also postage fees. Most buyers would understand however if possible, try to eliminate handling charges except for big and heavy items.

It is also important to first find out the average selling price of your item before even listing it on ebay. This will tell you the starting price you should list and how much is the ending bid.

The most simple way is to browse through the history of the item you are planning to list on ebay. You can get a feel for how much your item is worth and even determine the starting bid by browsing other sellers' items.

Dan Lim is an avid ebay fanatic who has been quietly earning a comfortable living online. Visit his site for more ebay selling secrets and strategies


Hot Topics In Auctions Online

    How to Quadruple Your eBay Auction Sales

    eBay is one of the greatest market places on earth. For a small fee, you can put your item in from of the world, literally. With such features, it's no wonder eBay gets millions of new listings a day....

    Ebay and Paypal

    E-Bay and Paypal are two giant firms which are involved in sales transactions of customers. E-Bay is an online portal in which buyers could auction and bid items for sale. On the other hand, Paypal is...

    5 Secrets To Becoming A Successful Seller On Ebay

    In order to accomplish the goal of becoming a consistent and successful seller on Ebay there are five basic principles you must follow. Yes, there is actually a blueprint and formula you can follow th...

    Taking The Risk Out Of Online Antique Auctions

    Online antique auction sites abound like daisies in the vastness of the Internet. And who would not want to graciously get rid of that old piano which is taking up too much dust? Or any of those antiq...

    10 Analyzing Tips for Your eBay Transactions

    Analyzing your eBay transactions can be one of the best learning tools you can gain from your eBay listings.

    After you have taken the plunge and bought and sold some items on eBay, give yourself a...

    How Do Online Auctions Actually Work?

    In the past few years, online auctions have really become a popular way for people around the world to buy and sell goods. Now I am not just talking about coins, figurines, or other collectibles. In f...

    How to Win Your Favorite Collectibles and Other Items at Auctions

    Copyright 2006 Monique Hawkins

    Some people are interested in obtaining more collectible items for their collection. Some are seeking music boxes and other mechanical music. Many others are looking...

    Your Best Online Auction Sites Audit

    What positive qualities should you look for on a search for the best online auction sites for your future possible business? If that means looking for the best-known ones, then one would need to put e...

    Taking Great Auction Photos Increases Sale Price

    Copyright 2006 Francesca Black

    They say a picture is worth a thousand words. That being the case, it is important to use photos as a tool to sell auction items.

    Background:

    Use a neutral b...

    Top Ten eBay Selling Secrets

    The time has never been better to take advantage of the ebay phenomenon and begin to build your own ebay business. The first step to success and what is considered an ebay selling secret is to begin s...

Most Recent Auctions Online Supplements

Newly Popular Business Articles

    Different Gift Basket Ideas

    Gift Basket Ideas
    Are you looking for the perfect gift idea for a co-worker, boss, or friend? A gift basket is the ideal choice! Gift baskets these days are stunningly creative and can be purchas...

    How to Quadruple Your eBay Auction Sales

    eBay is one of the greatest market places on earth. For a small fee, you can put your item in from of the world, literally. With such features, it's no wonder eBay gets millions of new listings a day....

    Your Informative Guide To Looking After Your Business By Charging Online taxes

    Charging online taxes when taking orders is a legitimate concern for businesses that sell merchandise through the internet. Knowing when to charge a customer sales tax and how much is necessary to the...

    Awaken The Wholesale Video Games Business Owner In You: Now!

    Take a wider look around on the Internet, whether wholesale video games or general wholesale business - you will see that many self-employed people are owned by their business instead of the other way...

    7 Dishonest Home Refinance Tactics - To be forewarned is to be forearmed....

    Are you planning on refinancing your mortgage in the near future? If so, keep reading because in this article I'm going to expose seven different "insider" tactics used by dishonest lenders and mortga...

    11 Great Financial Tips for Homemakers

    These tips were provided by my wife, Laura Irwin, who gleaned them from many years of homemaking and learning from others. Homemakers face a myriad of challenges; not the least of them is managing fam...

    Which Stock to Buy?

    Before we need to know which stock to buy, we need to know the fundamental of an individual companies and how they perform in terms of revenue, profits, assets, and borrowing.

    It is important to kno...

    Advice For The Internet Marketing Novice

    If you have a struggling internet business, you are probably facing the difficult task of how to attract visitors to your website at a price you can afford. Indeed, internet marketing is a challenge, ...

    Advantages Of Hiring Air Conditioning Units

    There are many different reasons why individuals or businesses may want to hire air conditioning units which range from practicality to cost. With the summers getting longer and warmer there are certa...

    Merits Of Credit Counseling

    Whenever a person falls into debt it does not mean that he has led an unplanned life. Things happen in our lives which can suddenly destroy all the plans we had and land us in a situation which was ki...

Interesting Today:

Most Recent Business Blogs:

Releated to Business:

Auctions Online Links: