Starting an item low....

[debian4life]

Has anyone ever had a rare or valuable game that they put on eBay at a low starting bid and it went for way under the value of it? How do you decide if starting at an auction at $.99 will get you your value? Do you think more people are likely to bid on a low priced item more times, rather than just one or two bids with an item at actual value? Which is more cost effective, starting low and hoping for the best or starting at actual value?

Brian

[ryborg]

Whenever there's a good sale (doesn't happen much anymore), I start my stuff at actual value or do a high BIN price. Otherwise, it's really up to you, because there is a minor risk that it won't do as well as you thought if you start it at a penny. However, listing fees will be much lower, and there's a good chance more people will look at it and add it to their Watch list. If it's a bad time to sell a game or an item, I'd just list it with a fair starting price.

[Blanka789]

I start auctions at 10 cents, and if I'm unsure about getting what I want for it, I simply add a reserve.

[gum_drops]

I usually dont like to start games valued at over $20.00 at 0.99c unless I am selling a whole ton of them at 0.99c with combined shipping. Then make sure your layout makes it clear what the combined shipping is and that you have other items to offer.

I like using BINs priced decently, unlike some sellers (http://stores.ebay.com/GameSquadStore_W0QQ_trksidZp1638Q2em118Q2el1247) who try and bleed every penny out of people and overprice everything. Of course, this is the same person who picks up all his over priced games much cheaper in lots.

[monkeychemist]

ebay has so many people that are trying to make money by buying and reselling that you can rest assured, any item will go for its value. It's best to start at 99c I've noticed because people seem more excited to bid on it. I recently sold many items and here are the highlights:

suikoden 1 complete - start 0.99, end 45.00
broken laptop - start 0.99, end 86.00

so it works, you wont loose your money.

[carlcarlson]

I always do BINs personally because it takes advantage of impulse buyers. If you're going the auction route though just make sure to spell everything correctly. Usually the only times a game will go for a lot less than it's value is if the seller messed up the listing. If people can't find your game then people can't buy it.

Of course, there was also the guy that got a CIB Racermate for the NES for $.99

[hex65000]

Interesting, I tend to gloss over the BINs because typically the seller is asking top dollar for something. Not picking on you Carl, I am making general statements here.

It's one thing I'm liking about the Chuckwagon. I can have a competitive starting bid that is low and i don't have to worry about a BIN-killer either. because if someone wants it bad enough, they'll nab it. The only thing I'm dreading on there is the "DP effect", but that's another story for another time. :D

Of course, the ones where the minimum bid and the BIN are so close together, you gotta wonder why they are bothering. (IE: item min bid is 19.99 the BIN is 22.00) I honestly view a lot of the 'storefront' items as grossly overpriced, or at least priced to the point that I'm really not interested in bothering with it, and I figure patience and persistence will eventually pay off. I guess that someone is spending that money to warrant the price asked. It's just not me.

When I do an auction where I have no idea on the 'going rate', I just start it at some tempting price and let it roll. Worst case, it'll go cheap. A tragedy that. Some collector gets a bargain. :( It honestly only stings when its a reseller just looking for a quick flip.

But hey, it's not my thingie to dictate what the price should be, I'll just spend my money elsewhere. The seller will either have to wait longer or perhaps pick a new price. Thankfully, not my problem. I have my own problems. :) I'm more interested in making space than money.

Hex.
[ Is not above it all... But I can walk right through you... ]

[ronclon]

Personally the way Ebay is right now there is no way I would list at .99 starting bids. With the new best match and Ebay's waining popularity you are setting yourself up for big losses. Just start with a price that you could live with if it ended at that price.

[Gapporin]

That's funny, I've always set prices at 99 cents for everything that I sell, regardless of value or worth. Take for instance the last few items I sold:

Complete Non-GH Final Fantasy VII: $66
Complete Non-GH Final Fantasy VIII: $19
Loose Super Mario RPG (with small crease on top): $37

Did they go undervalued? Yeah, probably, just a little. Did it break my heart? Nope. I sell so rarely on eBay, and when I do, I'm not usually out to squeeze every little penny I can from my items, so I'm happy with the way things turned out. YMMV.

[carlcarlson]

Interesting, I tend to gloss over the BINs because typically the seller is asking top dollar for something. Not picking on you Carl, I am making general statements here.

I know what you mean there, I actually usually do ask top dollar for my stuff (and I get it too!). I've found plenty of good deals with buy it nows, but typically if an item has been up for over a day and it's a buy it now there is no bargain to be had there. And store sellers... ouch. I don't even look at them!

One reason to do buy it now is it's quicker. You don't have to wait a week for your item to sell if you need money quickly. Of course the drawback of that is that you'll have items ending at all different times, so you'll have to make multiple trips to the post office. Unless, of course, you're one of those "I only go to the PO on Saturdays" sellers. Nobody buys from them, unless it's Friday!