listing reserve price in auction?

jessi5786

jessi5786

O.G.
Sep 17, 2007
1,204
37
#1
Hey guys,

I've been trying to sell a few things over the past two weeks, and even though they're in great condition and most of them are popular ebay items...no luck.

I'm thinking that part of the reason could be my reserve price (which I am too paranoid not to set!) but I was wondering...I'm not even sure if you're allowed to, but do you think it might help to list the reserve price in the auction?

That, and any other thoughts you might have on how to get more sales would be helpful!

:ty:
 
#2
Back when I was new, I used to use a reserve. This was because I was a new seller so didn't have the strong feedback I have now. I knew that my auctions might not end as high, so I was nervous.

I didn't notice a difference between I posted what my reserve was vs. not posting. If you're going to post your reserve, why not just start your starting price there? Have you checked the difference in fees?

Reserves are quite a turn off to buyers in my experience.
 
#3
Hmm...

Well last time I wanted to sell a Coach wallet for more than $39.99 but I started the auction at that price with no reserve, and I got nothing...I thought that the price might have been a turn-off...what do you think?
 
#4
First I'd check what comparable Coach wallets are selling for and see if I'd be happy starting the bid at or slightly under those prices.

As for a reserve, I can tell you that when I buy I stay away from auctions that have them because I don't want to have to guess what's on the seller's mind. The only time I might be tempted to bid on a reserve item is if I am desperate for the item and that's hardly ever the case.

Hope this helps. I'm sure others will weigh in, too, to help you out. Lots of luck!
 
#5
Im' not sure what your price was relative to the retail value on the wallet but buyers do expect to get a deal on ebay. Your price sounds reasonable. I haven't seen your listings so I am not saying this is the case, but it is important that your listing look good, i.e. no typos, spelling or grammatical errors and your photos should include the gallery and be clear. Sometimes you have to be patient with ebay. I listed a bracelet once starting at $180 and nothing.....so I relisted at $140 and ended up selling it for over $200. It is a bit of a risk but, overall, it usually works out. Buyers like auctions and they like BINs but reserve auctions are not very popular. Good luck selling - its a good way to offload those items you are no longer using.
 
#6
northerndancer said:
Im' not sure what your price was relative to the retail value on the wallet but buyers do expect to get a deal on ebay. Your price sounds reasonable. I haven't seen your listings so I am not saying this is the case, but it is important that your listing look good, i.e. no typos, spelling or grammatical errors and your photos should include the gallery and be clear. Sometimes you have to be patient with ebay. I listed a bracelet once starting at $180 and nothing.....so I relisted at $140 and ended up selling it for over $200. It is a bit of a risk but, overall, it usually works out. Buyers like auctions and they like BINs but reserve auctions are not very popular. Good luck selling - its a good way to offload those items you are no longer using.
Click to expand...

Question for you, since you seem very knowedgeable northerndancer...what if you have a BIN price and reserve? I was paranoid like OP to start things low and have them go for a lower price than I wanted to accept, but did not want to start price too high (which sometimes defers folks too). Any suggestions how to be successful?
 
#7
Thanks. I am actually way more of a buyer than a seller. The few items I have sold are things I no longer use and was happy to let them go. I have not made a profit on any of these items. I'm sure there are profit-making seller strategies out there that I am not aware of. I simply set my price at the lowest I am willing to accept and hope for the best. There may be a place for reserve auctions but I do find they deter buyers.
 
#8
jessi5786 said:
Well last time I wanted to sell a Coach wallet for more than $39.99 but I started the auction at that price with no reserve, and I got nothing...I thought that the price might have been a turn-off...what do you think?
Click to expand...

Were you trying to sell just before the holidays? Was this a new or used wallet? I ask because during holiday season people are preoccupied with finding deals on new items. You should try listing it now. Sales are picking up, slightly. Watch which day the listing ends. For instance, right now I am making sure my listings are not ending during SuperBowl. All these things make a difference - remember most bidding is picked up during the final minutes.
 
#9
Maybe it seems crazy but I start everything at 1 penny, close my eyes and pray until it ends. Most times people enjoy the bidding on an expensive item, like a Coach purse, which can be worth $500 and yet I still start at 1 penny with no reserve.
Yes, I have lost money..... and I have learned alot on how to list at the times when people buy and am still learning daily ........
but the buying frenzy and watchers build and it becomes almost a competition for bidders...
Hope this helps....
If you are thinking....I wonder if she lost money????
YES....but the worst is when I lost $150 on a beautiful Coach Large Hobo.....it was the worst auction "last moments" of my life, I cried, got sick, had to tell my family......and thanks to God, the buyer asked to back out because she was worried about how much Canada Customs fees would be!!!!.....
Heck, God works in mysterious ways..but this was a darn MIRACLE..and I was back crying ...in JOYFUL PRAISE.:yahoo:
 
#10
I love the Buy it now option with best offers for my listings, but if I want it auction style I put a reserve price so the Buy it Now option will stay available until the reserve is met. If I don't really care what is sales for I just start the listing at around 35% off what similars are selling for.
 
#12
As a buyer I'm highly turned off by reserve auctions and unless I REALLY want the item I won't deal with them. I always start my desirable items at $1 and generally find that they reach or surpass common market value, while I list my less in-demand items at a higher price since there'll be fewer bidders and therefore a lower selling price unless you start off at a higher level.
 
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