subject: How You Should Set Your Prices When Selling On Ebay [print this page] Because eBay is an auction site many people do not consider setting a price one f their priorities. This is one mistake which can cost you on the long term, as you may be forced to sell items under the price you were hoping to get.
There are three prices you can set when selling things on eBay. The first and most important one is the starting price. This means that buyers are not allowed to bid lower than the value set by you. Most of the times this is the only price set by sellers, as this is the only one which is required.
If you want to attract more customers, you have to set a low starting price, no matter how much you think your object worth. This will make the buyers bid and get interested in your product. Once they get caught in this game, they will bid more than they have set in mind to bid at first.
If you do not want to sell your product under a certain value, you should set your reserve price accordingly. Few eBay sellers give importance to this option. The reserve price represents the minimum price for which you can sell that product. If none of the bidders offers you that much you have the right not to sell the item.
If you do not like auctions, you can set a fixed price for which you want to sell the product. If someone wants to offer that price you will sell the object to him on the spot. The advantage of buy it now is that the buyer can have the object before the auction closes. This way he gets what he paid for faster and you have the money in a shorter time.
If the starting price should be as low as possible, the reserve price and the buy it now price should represent the sum for which you will be willing to sell the item. Also, do not forget to include the shipping costs in the price, if not, you may be losing a lot of money on transportation fees.
by: R Vignesh Kumar
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