Deciding starting prices

  1. Ok, I have been debating this and want to see from experienced sellers how you decide. If you are doing an auction on a high end purse... does your experience show that if you start with a lower price it sells better? Do you use a reserve amount and how do you decide that? I have been trying to sell an Amfar 3 and have used the buy it now and make best offer for it. Well, I researched old sales of it, looked at the handful that have been listed and priced it in there. I am getting low ball offers of like 100.00-300.00 for it. Now this thing is mint. So, I considered doing a straight out auction of it and trying to figure out where to start the bidding, if I should use a reserve and how to judge that. I was sitting here going to list my multi-colore speedy and just looking at how well some other auctions do with just going to a straight out auction rather than waste time over the buy it now/best offer. Also, on your auctions... do you do the auction and the buy it now price? I have sold a few lower end things but now getting into some higher end prices and not sure how to do it and tired of paying fees on something not selling. Any advice from experienced sellers?
  2. Ok, after posting this... I was floored on something... myself and another MPRS (I am not) are selling this purse in the $800.00-850.00 range, I am the lower price.. plus, mine is BIN w/ make best offer... meaning, yeah I will probably take a LITTLE less. Then I see that the seller FASHIONPHILE is selling the same purse for ... now, get this.. a BIN of $1349.00. OMG... what a HUGE mark up. Bidding is at like $550.00 now and reserve still not met. WTF... how is that... I seriously do not get it. She is an example of who I was referring to anyway when I made the comment of open auctions doing well on bidding. People for some reason will bid like crazy on her auctions.
  3. I think buyers may be more inclined to bid more on auctions from certain sellers based on one or more of the following factors:
    - The seller has an extensive selling history with close to or equal to 100% positive feedback
    - The listing is well presented (good pictures, lots of details on the item, and some artistic fancy auction layout doesn't hurt)
    - The buyer has purchased from the seller before, or the seller was recommended from multiple sources.
  4. I understand buying from someone with some reputation built up, esp in this market, having been the victim of fakes myself. I also know that having that MPRS sign will also drive prices up as they can command a little more, but that is one heck of a mark up. Which is why I didn't start listing or selling my higher priced stuff until I had built up a higher feedback rating.
  5. Some people also think something that is going for a higher price must be more in demand so they bid on that rather than something identical going for less with no or few bids! There is little logic in a lot of eBay behavior unfortunately...
  6. LOL... doesn't seem to be at times Baby. It was the darndest thing too. I got two offers, one for $100.00... and I have yet to figure those offers out, $100.00 for something w/ a BIN of $825.00? And another for $300.00 yet there is that one that is listed for a BIN of $1349.00.... wayyyyy over-priced w/ bids going on up to $550.00 and reserve not met. There are only 3 of these listed right now too.
  7. FASHIONPHILE's auctions always do well. They must be making a killing! I'm not sure starting at a low price with a reserve always works. I have a bag that I've been trying to sell and the auction just ended again with no buyer. This go around I had tried starting the bids at $100 with a reserve of $1425.00. Unfortunately the bids only got up to a little over $400. It's a $2400 bag, so I just don't get it! Do these bidders really think my reserve is going to be under $1000? I am getting so frustrated! I even paid for the stupid featured plus and had 500+ people look at the bag, but no one came close to making the reserve. So, I am back to trying BIN or B/O. We'll see how it goes! Good luck with your sale! :smile:
  8. Good luck Ski... I think you and I are beating our heads these days on some of these from the looks of it. I have not figured out yet how she gets her prices driven so high either. I read her consignment page... she gets 30% of the selling price too on those items. I am going to keep watching that Amfar as that is just an "OMG wow" of a mark-up on that thing. LOL... I will admit it, I am freaking jealous!
  9. I'm attracting all of the cheap people lately... Well, with the exception of a bag that I sold last week for way more than I expected it to. FASHIONPHILE always has great stuff that always seems to sell for a lot of money. I think they are located in Beverly Hills, so I'm sure her location helps. I have to admit I'm jealous too! I'm also trying to do the consignment thing. I guess time will tell and hopefully I'll have my website up soon!
  10. When I listed high end bags, I always started the price the minimum I am willing to take. I wouldn't do reserve listing either, but that is just me since I don't want to pay the extra for reserve. If I listed as fixed price with BIN, I always put an automatic rejection to certain amount or lower since I don't want to deal with those cheap buyers. I believe in fair trading. I would never take advantages on buyers, neither am willing to let people take advantages on me.
  11. Oh, I agree Love... those offers of $100.00 on the mint Amfar blew me away. I was not trying to over-price it in any way... even doing the BIN w/ the best offer. Usually on something around the price I had I would take anywhere from $50.00-125.00 lower than what my BIN was. That is why those offers of $100.00-125.00 floored me too. What do ppl think really on those? I set the automatic rejection too, just so I would not have to see them to tick me off.. lol. But, still it shows on the deal sheet what they offered and I just sit going omg, what is this person thinking. Also those that wait until like the last 5 minutes on a BIN/Best Offer item w/ the lowball offers.... what is that exactly? Are they thinking that because your auction is closing you are desperate and willing to take only 10% of your asking price?
  12. I just took a look at what I think is your auction. After looking at yours and the others, I think that the number of feedbacks may be one of the issues. I don't know how many times I have read people on tPF discouraging others from buying from sellers with low numbers of feedback. If the listing is the one I think it is, you also have not sold any other bags that anyone can see from your feedback. One last thing that I might suggest............your return policy advises that you will only accept returns "if you find that it is not authentic." This gives the impression that it may not be authentic. I would remove that statement altogether. If it is authentic, you don't need that clause in your listing. (Just make sure that you secretly mark your bag to avoid being a victim of buyer switch). If this isn't your listing, I apologize. If it is, I hope that you don't mind my critique. Hope this helps.........;)
  13. One other thing that I forgot to mention. In your listing heading you might consider writing in the style. Something like - "100% AUTHENTIC LOUIS VUITTON AMFAR HANDBAG" then in the sub heading you might add -"Sharon Stone Collection". I suggest this because when I tried looking up your bag I had to check the box which searches both title AND description. There were sooooo many LVs to look through. If someone wants to find this particular style, they will normally type it in and only search the titles. If Amfar is in your would be much easier to find. Make sure you emphasize that this is a 100% authentic bag and that you GUARANTEE it's authenticity. Hope this helps. ;)
  14. Sorry Miu, that is not my auction at all... I have like 200+ feedbacks. Also, I do reference accepting returns and how to do so by having it authenticated by CarolDiva or MyPoupette.
  15. Ooops, sorry!! My mistake......:shame: