Live Generously: Pricing on eBay

generous

Probably the trickiest thing to selling an item on eBay is pricing.

Many people make the mistake of looking up the item and going with the prices that they see.  Why is that a mistake?  Because those items haven’t sold.

There is an Elvis Bobblehead that is listed on eBay for $36,000!  It has a one carat diamond and is extremely limited edition.  Now let’s say you had this same bobblehead.  You would go on eBay, see that price and think that it is worth 36k.  The only problem with that is it has been listed for a long time.  It isn’t selling and probably never will sell for that price.

Search for an item like yours, but first check the ‘sold items’ box on the left of the eBay screen.  This enables you to only see those similar to yours that have SOLD.

Quick Sale

Another bobblehead example:  The Atlanta Braves made a bobblehead a few years ago of the Sid Bream slide.  That bobblehead is consistently listed on eBay at $100.  However it usually sells around $65.  You might be able to eventually get around $100 for it, but it will sale quickly at $65-75.

Buy It Now vs Auction Style

I almost always use auction style listings.  Many times I’m listing something that could go $20 or $50.  Because of that range I believe an auction benefits me the most.  If you don’t know the true value of something always go with auction.

During the Christmas season, I would think a Buy It Now option would be better.  You can do an auction listing with a buy it now/best offer option.  I sold a Washington Redskins Christmas train a few months ago.  It was listed as an auction, but had the option of buy it now or make me an offer.  Someone made an offer and I had a counteroffer that they accepted.  Without this option it might have taken a few more weeks to sale.

.99 listing

The lowest you can list an auction item is .99.  Some people will list it at this price knowing that it is the cheapest on eBay.  It will increase potential buyers and you will get more watchers.  Obviously this is risky business.  You could sell your item for way less than you are comfortable with.  I would suggest you price your auction at the lowest price you would accept for the item.  You might be disappointed in the price you get, but not devastated.

Do your SOLD research.

Come up with a price you can live with.

Decide if it is better to auction or buy it now

If it doesn’t sell the first week – evaluate the price.

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