by Badly Drawn Dad

Selling On Ebay Does Price Play A Significant Role In Your Listings

When it comes to selling on ebay, it is apparent that many new sellers are unaware of how essential the price of a product is when they are creating a new listing for auction.  Several may possibly not even understand that they have to decide on a price for the products they choose to sell on ebay.  

However, the fact is that an ebay auction is not the same as the kind of auction you may go to offline.  There is actually quite a bit of thought and work when it comes to deciding on what prices to set for your listings.

All in all,  you have to decide between the buy it now or the starting bid price you would like for your products.  You may perhaps also choose to have a reserve price and what that means is that if your item doesn’t sell for the lowest amount you are willing to accept, you are not obligated to sell the item.

The only price that is actually required will be the starting bid if you decide to list your item as a regular auction listing.  The buy it now and the reserve pricing are an option that you can decide on after you create your listing for the product you hope to sell on ebay.

Remember that your starting bid should be kept reasonably low in order to attract more potential buyers.  If the item you are listing for sale is a higher priced item, while your starting bid should still be kept no higher than , you will want to set a reserve price on this type of listing.

As I said before, a reserve price will be the least amount of money you are willing to accept for an item and while it will be your choice to accept a lower price, you will not be obligated to do so.  A different way of looking at this is that if you are hoping to get 5 and the highest bid is only 5, you will not be required to make the sale and you can end the auction without receiving any negative feedback.

When deciding on a reserve price, you want to know what the item is actually worth, in other words what is the value of the item, and also how much you actually paid for the item.  Once you know about how much you think the item should be sold for, you will want to set your reserve for the absolute lowest price you are willing to accept.

You can also choose the buy it now option and that means that you will be attempting to sell your item for a set price and this allows potential buyers to buy without actually bidding.  This means they will be able to pay for the item and buy it right away.  You can also use the buy it now along with a traditional listing and in this case, you will want your buy it now to be equal to whatever your reserve price is set at or at least close to same amount.

One more pricing detail is in your shipping options.  Nearly all potential customers will look at the shipping price before bidding on an item so you have to take that into consideration as well.  Offering free shipping will more than likely bring in more bids but if you have a heavy item that is going to cut into your profits in a big way, you will want to have a shipping price set.

Just keep in mind that most people will have an idea of what they are willing to pay for shipping and keep your shipping prices as low as you can.  One more thing to be aware of is that ebay has a policy that states you cannot overprice for shipping just so you make more of a profit from it so be cautious to keep your shipping costs as close to genuine price as possible.

When setting your prices, you should check out other similar items that are selling or have already sold and keep your prices competitive if you actually hope to make the sale.  Selling on ebay can be simple when you know how.  I hope you have enjoyed reading this article about the importance of setting prices when you decide to sell on ebay.

www.auctionconversionsecrets.com – This video covers one powerful strategy I recommend to all eBay sellers for giving themselves a competitive advantage when selling items on eBay. For all my tips, get my report at www.auctionconversionsecrets.com

Find More Sell On Ebay Articles