Experienced Sellers: Your opinion RE: starting bid?

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  1. Hello everyone. I have sold a few items on eBay with mixed success. I am culling through my bag collection to add to my LV savings fund. :yes:

    I'm interested in your opinions. I recently got annihilated on a pair of shoes when I used an opening bid of $1.00. I know, that's the gamble. I charge actual shipping plus $1 for handling (basically for packing materials).

    All my items are authentic - bought from Coach, or department stores. I'm wondering what will work better for me - opening my bag auctions at the price I want to for the item ($30 - $60 in most cases) or using the $1 opening bid with a BIN or reserve.

    Opinions?

    Thanks!!!

    Jen
     
  2. Do a search of completed items using the Brand & Style Number or name. That should give you a start.
     
  3. Thanks for the feedback - I've done some searches and find most items are selling within the range I'm looking for. Some are starting at higher than what I'm looking for and aren't selling at all. Maybe I'll try one bag with the low opener and a BIN and one with my desired amount as the starting bid to see what works best.
     
  4. It usually depends on what I am selling - I have had very good luck with two Coach Legacy bags that were very popular by starting at .99. Scary, but they both got over $200 - one for almost $300. Usually, however, I sell with BIN or have my starting price at what I am willing to accept. I, like you, gave someone a great deal by starting low and hoping for the best. You should definitely look at completed listings as mentioned above to get an idea, and to be sure you get what you want (especially if it is a low price to begin with) just start there.
     
  5. My experience has been that you should list with a fair starting price that is in line with the lowest amount you will accept for the item. Before you list an item, search for similar items and add them to your saved list. Keep any eye on the auctions and see where they end. Use the results as your guide; often items are worth less or more than we believe is a fair price.

    If you gamble on $1.00 starting bids you take a chance of a repeat loss. There are thousands of .99 auctions on eBay for sellers to weed through. When I used to buy there I would actually do searches for $10.00 and up just to avoid these auctions in my search results.

    Don't lose your pants, start with a fair number. Legitimate buyers don't expect to buy a Coach bag for $1.00, so what's the point? Sure, it keeps your listing fees down, but it sounds like with the loss you took on the bag you've already sold at $1.00, all of your "savings" have been lost anyway.
     
  6. Thanks everyone - based on your feedback, I think I am right to start at my lowest price and anything higher I get is just gravy. These are previously carried bags in very good condition, so I'm sure that as you say, legitimate buyers will see the value. Thanks so much for the help!