Selling expensive items on eBay is really not different from selling low cost items. Essentially, regardless what you are selling, it all comes down to how you market the item. This does not mean you have to surf around the Internet placing ads everywhere. When it comes to eBay auctions, the marketing is all done at the eBay website. When you set up your auction, you are beasically setting up an automated marketing campaign.
First, you must determine the value of your item(s) in three different ways. This will help you determine what your reserve price is. On eBay, the reserve price is the lowest price that you are willing to accept for your item.
First, have your high priced item evaluated to determine what the actual market value is. Next, research similar items from past auctions at eBay to see what price those items were sold for. Finally, determine what the value of the item is to you. With this information, you should be able to determine the lowest amount you are willing to sell the item for.
Set your reserve price, and then set your opening bid price lower than $50, regardless how high your reserve price is. This is marketing tactic. It will be hard to attract potential buyers to an auction for an item selling for hundreds or thousands of dollars. However, brining them to an auction where the opening bid is only $50 is quite simple. Remember, you donot have to sell the item to anyone who bids less than your reserve price, unless you choose to do so at the close of the auction. This method of price setting resembles marketing gimmicks often used by offline businesses that are simply designed to ‘get customers in the door.’
Work hard on the description for your listing. Use words that really describe your item(s) well. Provide as many details as possible, including details that prove the authenticity of collectible items. Include pictures of the item(s) as well. Please, do not try to deceive potential buyers! If the item has marks or scratches, simply be honest about it, and make sure that the pictures convey this as well. State how the item will be packed and shipped. Also let potential buyers know that shipping insurance must be purchased as well – in case the item(s) gets damaged once it leaves your possession.
For higher priced items, most eBay buyers feel more comfortable using an escrow service. Offer this as an option in your auction, with the understanding that the buyer must pay for the service. This protects both parties from fraud, and it makes many buyers more open spending the money in order to obtain the item.
eBay has partnered with an escrow service that is commonly used for high ticket items.
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If you seriously thinking of earning, not losing BIG money on eBay, I definitely recommend a very successful product how to market eBay(R) auctions
- eBay Fortune , The Definitive Roadmap To Auction Riches -
as an eBay Seller, you will need it!
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
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For additional information on said subject, please read the post
eBay – Useful Tips on Making, Not Losing Money on eBay
Also browse the ‘eBay’ category for additional eBay postings
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Stay tuned,
Christer
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Many new sellers don’t fully realise how important pricing is when it comes to eBay auctions. Many don’t even realise that ‘pricing’ needs to be done. After all, eBay is an auction site! But eBay auctions are not quite the same as the auctions you attend in the offline world. In fact, quite a bit of work goes into determining and setting prices on eBay.
Essentially, there are only three prices that can beset for an eBay auction:
- the ‘buy it now’ price
- the reserve price
- the starting bid price.
Of these three, the starting bid price is the only one that is required for an eBay auction. The reserve price and the ‘buy it now’ price are optional. The starting bid
price is fairly simple – never set it higher than $50 or so – no matter what your item is really worth. This low opening price will get bidders to your auction.
Setting low starting bid prices creates the need for a reserve price. A reserve price is the absolute lowest price that you want to get for your item. You may sell the item below the reserve price, but you will not be required to. In other words, if you set your reserve price at $100, and your highest bid is only $50, you do not have to sell the item to the highest bidder. You can close the auction without any negative feedback or repercussions. Set your reserve price at the absolute lowest price you are willing to sell your item for. Keep what the item is worth, as well as what it cost you in mind.
The ‘buy it now’ option will allow you to set a price and buyers can buy the item immediately, without bidding, for that set price. This option can be used for any type of item, and it should be set to match your reserve, give or take a few dollars. This option is great if you have multiple identical items to sell.
Shipping has a price, and potential buyers take this into consideration when they are looking at an auction. If you can see your way clear to offer free shipping, you will find that people are placing more bids. Make sure that your potential buyers realise that you are offering free shipping!
Before setting any prices, you need to determine what the item is really worth. The value of the item in different markets might be quite high. However, you are selling on eBay and eBay is a different world altogether! Find out the price that similar items are sold for on eBay before setting any prices. If it is a collectable, or a high ticket item, have the item evaluated to ensure that you are not going to lose money!
* * * * *
If you seriously thinking of earning BIG money on eBay, I definitely recommend a very successful product how to market eBay(R) auctions – eBay Fortune , The Definitive Roadmap To Auction Riches – you will need it!
Take Action – Click Here to Download “eBay Fortune , The Definitive Roadmap To Auction Riches”
♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦
Stay tuned,
Christer
BTW
Do you also remember to FOLLOW ME on Twitter?
My new content from all my web pages is also going there
If you find the information useful, don’t hesitate to Tweet or email the post to your friends and colleagues and set up a link on your own blog!
http://twitter.com/christerfolke