Pricing Strategy? Start high and then lower? Need your thoughts.

[fastkc]

    With some of my items that I am unsure of comparable price's I have started with a high price with the thought in mind that I can always lower it later. However I'm starting to think that maybe I'm off base with this. The reason is because of a large bump of views when originally listed and then as normal the views taper off. By the time the views have tapered off and with no action I start to lower my price.

     I'm starting to think that by the time I've already lowered my price that it is too late because the listing has aged and the original influx of viewers have already seen it at the higher price. I understand I can send out offers to watchers (though I don't have much luck with that). 

     Should I end that listing and then relist with a more reasonable asking price? (Doesn't Ebay frown on doing that too often)? 

  Would appreciate any of your thoughts on this. 

[brightlightbookseller]

No need to end it, revising it can still give it a bump in search results from what I've seen (or at least revising it seems to often boost views and result in a sale, so whatever is happening is beneficial).  I don't see any problem starting high and lowering it, but you'll sell it faster if you get closer to the actual selling price to begin with of course, so research is key.  We usually depend on Terapeak, but also branch out to just using Google when things are unusual.

[dhbookds]

You might try putting Best Offer on the listing in the beginning........that way, those that might really be interested, but put off by the price, may take a shot............  I realize not everyone likes/approves of B/O......but testing it might work for you........

[simba6]

Have you searched completed sold listings for an idea of what it might sell for?

[ryanrobyn]

I usually follow how you do but sometimes I raise the price and it sells immediately. I think low prices might indicate junk items to some buyers

[inhawaii]

Yes, I like to start high then lower the price if needed, if the item doesn't sell. 

Works a lot better than starting low and raising the price if the item doesn't sell. 

[tobaccocardyahoo]

Many of the items that you or I sell have no intrinsic value.

I buy items that I think have merit.

I price based on what a buyer who wants to own the item would be willing to pay.

I may have to wait years until I find a buyer who wants to own the item. Lowering the price by less than the  amount which would make a more patient seller buy it and wait for the right buyer may not help it sell. Most collectibles are not price elastic unless you make a big markdown.

[fastkc]

Appreciate your comment. Maybe I should try that a little more. Maybe I'm doing it bass ackwards. I've tended to stay away from OBO at the beginning of the listing (thinking it looks desperate) then I've gone to OBO after a certain time period. What do you think about that? 

[fastkc]

I didn't know that revisions could give a bump. Do you recommend Terapeak? I'm a small seller. I will use Google but it's hard to find sold price comp's. I did a free 7 day trial on worthpoint to find a couple things. 

[fastkc]

Oh yes I do that. But with somewhat unique items the prices can be all over the map. That's the rub lol. 

[dhbookds]

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@fastkc wrote:

Appreciate your comment. Maybe I should try that a little more. Maybe I'm doing it bass ackwards. I've tended to stay away from OBO at the beginning of the listing (thinking it looks desperate) then I've gone to OBO after a certain time period. What do you think about that? 

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Well, if your logic is that people passing it the first time because of price........they won't see the B/O later.........

[redlinear]

If there are quite a few on eBay, I start lower (usually a significant amount, just to "get while the gettins' good"

If there aren't many on eBay, I'll price according to condition/quality/appearance.  HOWEVER, when somebody sees that cheapest one, I want my nicer item to be close enough to it to be easily seen.

If I think mine is flat out the best one on eBay, I'll price it stupid high (so if anybody searches high to low$, mine will show up 1st)
And I'll leave it that way for a year.  Usually highly promoted. With hints in the description to get lookers to go to my store or check out my other listings.

But as a general rule, most of the time.  When I list something, I want it to be the next one bought. So, I price it low.

[fastkc]

I appreciate all the comments and help that have been given thank you very much. Still wondering about that initial "bump" of a new listing. I'm feeling like if I'm too high initially when I'm still getting views because it is a new listing but no sales so then I lower it's too late because those viewers won't look again. (Am I making any sense lol) 🤔 

[fastkc]

Yes. That's why I'm thinking I am doing it wrong.

[monroe67]

"With some of my items that I am unsure of comparable price's . . . ."

Did you know that you can search for similar sold items, so that you can list a reasonable price?  Obviously, if you list something at an outrageously high price, it probably will not sell. 

Here's how:  Go to the main page of eBay.  Near the top you will see a long outlined box, with the words "Search for anything" inside. 

Read on to the right and you'll see the words "All categories" with a drop down arrow.  Further right you will see a part of that long box in a royal-blue color and the word "Search" in white type. 
Further yet to the right, in small gray type you will see the word "Advanced."  
Click on that word:  "Advanced."  

You're then taken to another page where you can enter your search terms.  The first four criteria are essentially the facts of the item you are searching.  I usually just enter words I expect to see in an eBay listing's title and the corresponding category. 
Example:  I might look for previously sold "Mazda Protege Brake Pads", using those keywords, and I would choose "eBay Motors" as the category. 
Or I might be looking for comparable sold prices for "Angel Cross Stitch Kits" in the "Crafts" category.  

Before you click the "Search" button, since you are looking for previously sold items, check "Sold items" in the next section.  BTW, "Completed items" will automatically also be checked.  

You can scroll through to see if there are other factors/aspects you might want to click, to narrow your search down even further.  Just a few of those other details are "Item condition", "Benefits charity", "Free shipping", and "Item location."  There's another "Search" button at the bottom of all the criteria which, when you click "Search", will show you all the sold and completed listings matching your criteria .  

This will probably help you with your pricing decisions.  I learned long ago to do this type of search on everything I (as my selling ID) list, whether as auctions or Buy-It-Nows.  Hope this helps !!