Many new ebay sellers often fall into the pricing trap. Either they price their items too high to be unsellable or they price it too low to make any profits.
Some basic information on ebay pricing. Ebay has three prices that can be set for an auction.
The “Buy It Now” Price
Allow bidders to buy the item at a fixed price immediately without waiting for the auction to end. Effectively, it also means the auction will end once it has a bidder. The only exception will be in dutch auctions.
The Starting Bid Price
Any auction will require a starting bid price. This is the price set by the auctioneer when he/she first lists the auction.
The Reserve Price
This is the pre-determined price set by the auctioneer. Bids will need to exceed or equal to the reserve price before it will be sold. If an auction ends with the reserve price not being met, the item will not be sold.
Both the “Buy It Now” and reserve price are optional on ebay.
It is important that your starting bid price be set low to attract bidders to your auction. My advise would be to set the starting bid as $0.99 or lower. As a rule of thumb,...
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