thepriest
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posted on December 18, 2003 05:47:40 AM new
Hi... any comments on starting items at $1.00 and no reserve.
thanks
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dcpent
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posted on December 18, 2003 06:16:06 AM new
Yes, if you are lucky they will sell for $1.
If your not lucky they wont sell at all.
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horsey88
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posted on December 18, 2003 06:32:50 AM new
That's a good idea....Just enable your Sniper Block Software and you'll be guaranteed lots of early bids and high prices as your previous research has already proven
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thepriest
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posted on December 18, 2003 06:39:26 AM new
Hi... thanks for the note.
Yes, that's what we would do.
It's worked very well for us. As you're aware, the anit-snipe program was discussed earlier.
thanks
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ladyjewels2000
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posted on December 18, 2003 07:53:36 AM new
I'm not sure I understand this. If you have anti-snipe software the bidder knows it and will go ahead bid early? sorry I missed the earlier post.
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peiklk
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posted on December 18, 2003 07:56:55 AM new
Starting lower, IMO (and experience) gets you more bids. Someone will always get the bidding started. If you've ever watched auctions (for real), they may start at $10, but no one bids until they drop the start at $5 or so, then the snowball effect starts and the final price ends up higher than the $10 initial bid.
The only problem is the risk that it will just sell for $1.00. After listing fees, you've made nothing on the item. So if you're not sure there is a demand, I'd start a little higher to cover your costs. Otherwise, if the item is sought after (such that every one up for auction ends up selling for some amount), then by all means, 1NR is a good way to go.
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"Bend over backward for the customer. Don't bend forward."
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thepriest
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posted on December 18, 2003 08:45:59 AM new
Hi Pieklk...thanks for the insights...good info..we'll keep that in mind...many thanks
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thepriest
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posted on December 18, 2003 08:49:21 AM new
Hi Pieklk...thanks for the insights...good info..we'll keep that in mind...many thanks
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lindajean
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posted on December 18, 2003 09:57:32 AM new
It definitely depends on what you are selling.
Postcards which I am selling now, attract one or at best two people as a rule. When only one is interested in it (because they grew up there, went to school there, etc) then they would be very very happy to get it at $1. But, they will pay $6 also because once they see it they want it and so I can list at $1 and sell it for that or list at $6 and still sell it for that.
I really tested it and guess what? 38% sell through on 20 at $1 and 34% sell through on relists of same postcards at $6. So, just depended on who was looking when.
If it is an item that is in demand and not readily availiable on Ebay then the $1 would work great. Otherwise, it still works great, but for the buyer rather than for you.
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thepriest
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posted on December 18, 2003 02:19:29 PM new
Hi Lindajean...many thanks for the insights...certainly food for thought... many thanks
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dejapooh
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posted on December 18, 2003 03:14:49 PM new
I've sold several items for $1 start no reserve. If it is the type of item that will sell for $10 to $15 first bid every time you list it, you will get into the $20's. But if it would only sell sometimes at that price, it will go cheap. I've only once put something on worth a lot more, and it got it's value.
They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. B. Franklin
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thepriest
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posted on December 18, 2003 04:46:33 PM new
Hi dejapooh... thank you. Most of the item we put up close in the three figures...usually $100 or more. Of course, we have some competition, but so far it goes well.
So that's why we wonder if this would work.
Thanks again...it's appreciated
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cta
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posted on December 18, 2003 05:42:44 PM new
Personally, I don't list anything that is under the $9.99 price. I feel that it really isn't worth the time and energy for anything under that price. But many people don't have shops that they can dump the little stuff into either. But I still feel a lot of it is marketing, marketing, marketing. You may have the same thing as many others have, but if you've taken good photos, made your listing look professional, check for typos and grammatical errors...you may see the bids improve. Just my two cents though. I'm sure some would have other opinions.
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lindajean
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posted on December 18, 2003 05:51:37 PM new
If most of your items sell for over $100 you might do extremely well with $1 starting bids. It would bring on lots of views and bids at least.
But, I would test it carefully. You would hate to have it only go up to $30 or even $60 if you usually get $100+.
What do you usually start items at? Or do you use a reserve?
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peiklk
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posted on December 18, 2003 05:53:25 PM new
And THAT is what reserves are suited for perfectly!
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"Bend over backward for the customer. Don't bend forward."
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thepriest
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posted on December 19, 2003 09:56:57 AM new
Hi...many thanks for the insights. We start many item between 60-80. However, we recently picked up some large lots from bankruptcies with high consumer value, but very low cost to us...pennies on the dollar.
When bidding, I usually avoid reserve auctions...the reasoning makes sense.
Many thanks for your insights.
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peiklk
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posted on December 19, 2003 01:15:39 PM new
When bidding, I usually avoid reserve auctions...the reasoning makes sense.
If the reserve is clearly stated in the auction, I've never had problems with getting enough bids.
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"Bend over backward for the customer. Don't bend forward."
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thepriest
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posted on December 19, 2003 01:24:54 PM new
Hi Pieklk...thanks for your note.
That is true...if I see what the reserve is, that changes it.
Good point.
thanks
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