Are There Benchmarks for Starting Price?

  1. I'm a pretty frequent ebayer (buyer and seller), but lately have had trouble selling bags -- lots of watchers, but no bids. :confused1:

    I 've been told that this is a slow season for bag buying, so am going to wait a bit and try again. It made me wonder, though, what the rest of you do for starting prices? If you are listing a mint designer bag (take your pick: Balenciaga, Ferragamo, BV, etc.), do you start the bid at half of what you paid? Three quarters? Do certain brands command higher prices than others?
  2. You need to do some eBay market research and look at completed listings on the site as that will give you ballpark figures
  3. mooks has the right idea. the only way you are going to know what similar items are selling for is to do a completed items search and see what they have been ending at. Once you do that, you might even find out that they are not selling for as much as you would like to get, or you might see just the opposite. The market on eBay changes daily, so it is hard to have hard figures for particular items... see what the buyers are already willing to pay. I like to start my auctions at 99 cents, you can do a reserve if you are scared to, but that way more people will open the listing to look at the item throughout the duration, instead of people only finding it when it is first listed and when it is ending. a good majority of eBay buyers are looking for the lowest price, so when they do a search they will use that criterium to get results.
    Good luck!
  4. Good advice, Kristy! I never do reserve auctions, but the flip side is, I start my bidding much higher - and that seems to be an unsuccessful tactic right now. Maybe I'll try it your way, and see if it works. The few times I've started an auction at $99, I've had pretty good luck getting it to go much higher. And yes, completed listings are the way to go with price setting. See where the other sellers started their items, and relatedly, where they ended up. That will help you find a happy medium.
  5. Kristy: do you find this tactic problematic when people are looking for authentic handbags, though? You know the whole addage "if it seems too good to be true, it proobably is?" Do you list with a reserve in cases like this? This is a self-serving question, so forgive me - but I'm curious!
  6. I do normally use a reserve price, not only so the buyers don't feel the item is "cheap" but so I am covered in case the auction does end less than I am willing to accept. Even if you don't want to start bidding at 99 cents, starting the bidding on a 500.00 handbag, for example, at 99 dollars is a good low price as well to draw in buyers. Again, with a reserve to cover both ends ;)
  7. I've recently trialled 99p auctions for the first time in a long while and to be honest I got mixed results. I sold my used Mulberry Roxanne and got close to £300 ($600) which I was very happy with as it was well used but other items which I felt should have gone for more had disappointing results.

    The reason I went back to 99p starts was in a bid to reduce eBay fees.

    In light of my most recent auctions I'm reverting to the opening bid being what I am happy to accept.
  8. as long as I am putting a reserve on the auction, there haven't ever been any problems with buyers thinking "if it's too good to be true...." That I am aware of anyways. I do get a small percentage more of the authenticity questions but no problems after I reply.
  9. Thanks, ladies! Great advice!
  10. EBAY IS SO WIERD!! I was looking for a burberry bag. I watched this one (I decided I want a new one...but I kept an eye on it anyway).

    It was used for a few times (starting bid 380.00), the auction ended with ZERO bidders. The seller relisted for 10.00 I think, and it just ended with almost 470 dollars!!!!!!!!!!!!!!!!!!!!!!!

    I guess its the nature of humans...if you give them room they will bid, then its a matter of getting the last word in the very few last minutes of the auction!!!
  11. Something else that has worked for me in the past is to have a buy it now price at a little higher than I want for the bag and accept offers. This has worked out quite well for me. I have gotten the full BIN. The only problem I had was with hijacked accounts that were on a bidding spree.
  12. Sabi, that's a great idea. I also like the idea of a low starting price but with a reserve. I used to do that, but stopped because as a buyer, I find reserves frustrating. Maybe I should re-think. As for checking comparables, that's a great idea, but I tend to sell things that are a little unusual. Recently, for example, I tried to sell a pretty unusual Ferragamo and a Moschino (they're not on ebay now, and my ebay ID isn't remotely like my PF ID, so I think I'm okay mentioning this). Couldn't find anything remotely like them on ebay, so I just used the retail value as a guide.

    I went out shopping this afternoon and somehow came home with a Balenciaga I didn't know I was looking for, so I'd better get good at this ebay stuff quick or I'm gonna go broke!:rolleyes:
  13. I am a believer in starting your auctions at one cent, if you do it right, proper keywords,
    check the market first on completed items , then do several proper hosted photos and an elaborate description.
    If you do this formula right you will create a monster bidding session that leaves some bidders with the thought in there mind that that item is theirs.
    If you follow this path you will have a 100% success rate. Its about creating interest, and making sure that item goes good to begin with on completed items, definitely eBays most valuable tool.
  14. 100% success rate is a certainty if you start at 1 cent but it's whether you actually achieve the prices you want for your item
  15. I don't think there's any magic to it. Some bags starting low go very high, like someone mentioned. Yet I've seen others BIN'd at huge prices. I don't usually look at 99 cent type auctions for high end bags. Maybe I should.