Best Offer or lowering prices?
These days I am not all that interested in building inventory, I am more interested in moving stuff out. I've always leaned on Best Offer to attract, well, offers. But I would not be surprised that many ebayers don't understand or like Best Offer. I use the Send Offer function for books on watch lists, shakes down a few sales.
But my question is, if you also are motivated to move stuff out do you instead have some sort of pattern for lowering prices instead of relying on Best Offer?
19 comments
cardxcraft
·2 years agoMy advice:
First, do a markdown sale with no best offers for as long as you feel is necessary. Depending on your inventory size, try to complete a few end and sell similar cycles. Keep doing markdowns cycles until you feel you've gotten rid of your better inventory. Finally, end with a markdown plus best offers.
chariot_badges
·2 years agoI look at it a little differently.
Probably because I sell different stuff.
MY stuff is auto parts. Moderately needed, but not critical. It's not a starter or alternator, it's body trim. Cars move just fine without ... but, if someone gets into an accident, or they're restoring a car, they need what I have.
"How much is it" is not as important as "Do you have it." So, I'm not sure that lowering prices would help ... with ME. If I lower that 4inch Ford Oval emblem down to $1 ... would you buy it?
I price at FMV (fair market value) using comparable sales and listings.
I will discount from there 20% on a Make Offer.
I never go below that.
Fully a third of my sales begin with an incoming offer.
If someone makes an offer of 50% ... I redo the appraisal to make sure that they may be right. If they are ... I accept the offer. If they're not I reply with "Where did you get your opinion of value? I looked everywhere and mine appears to be one of the lowest priced. I can give you 20% off, but that is my best price."
I am picking up a lot of body shops, and car clubs and stuff ... and they don't care all that much about price. They want reliable delivery, accurate descriptions and pictures, and the ability and willingness to solve problems. These are business people who understand that **bleep** happens sometimes ...
So, to answer your question: there is no answer to your question.
Or, it is that it depends ... there are many variables.
keziak
OP2 years agoA useful answer is people suggested running sales. I admit that I'd forgotten about that as an option. I need to think about how that might work for me.
thanks to everyone who responded.
transamcc
·2 years agoFrom a buyer's perspective: Since eBay instituted the process of buyers providing a payment source up front I neither make offers nor bid on auctions for the vast majority of sellers because most are not aware that they can opt out of both scenes in their buyer requirements settings. If I am watching or viewed your listing the only way to get my attention is send offers to me or lower your BIN price.
boomersbiz46
·2 years agoI started running sales just recently and I did sell some items. I also offer best offer. Buyer love a bargain and if they can get 10-15% off, that usually motivates them. I have a large inventory of antiques and collectibles, books and vintage magazines. Ephemera and books seem to be moving. My books are all early children's books and 1950's children's books seem to be of interest lately. (People searching for their childhood)
pls-consignments
·2 years agoTraditionally a slower time right now. In my category, which is primarily collectibles (25 yrs), I'm watching item values continue to fall as they have since Covid ended. In my opinion, this is the result of over-reliance on SIO's, which continues to train buyers to expect lower prices. As sales slow due to seasons, economy, and an influx of cheap inventory from overseas, fair market values continue to fall, including vintage items. The challenge for most sellers is protecting razor thin margins already diluted by PL. There is only one winner here, and it's not Sellers.
chevymontecarlo88
·2 years agoonefootflipper
·2 years agoI lower everything 3 percent a month across the board except for quantity items that have at least 1 sale. I only reexamine those once every six months or so.
People sending or watching items are not going to start with the overpriced one, they are going to start with the cheapest one on the website. That is why I have a markdown schedule to make sure I probably have the best price on commodity items and to make sure I didn't over-estimate on condition based or unique items.
keziak
OP2 years agoI guess you must find 3% helpful or you wouldn't apply the discount. Otherwise I would wonder if t hat isn't low enough to encourage people to buy.
As for offers, recently I have had people trying to make me offers on auctions that either already have bids or if not, I just listed the items and tell them to contact me if they don't sell.
m*and*l*sales
·2 years agoAs a buyer, I'm not going to make you any offers. I'll pay what you ask. If it is too high, I move on.
I don't respond to "you looked at it, so here's a special price for you".
I don't respond to "you're watching it, so here's a special price for you".
Either run an auction or set your best price, or don't expect me to buy it.
I hate haggling and refuse to negotiate. But that's just me.
luckythewinner
·2 years agoIf I pass on a $100 item because I think it is only worth $80 and later receive an offer from the seller for $75, I will happily pay it - no negotiating necessary.
luckythewinner
·2 years agoBut I would not be surprised that many ebayers don't understand or like Best Offer.
I think it is that many SELLERS do not understand Best Offer, and buyers tend to avoid it because they are tired of making offers and then having sellers waste their time with insultingly small counter-offers.
That aside ...
If you truly want to move stuff out, I vote for cutting your prices to the bone. You've been complaining for a long time about low sales and the amount of effort eBay takes. Wouldn't Best Offer just mean spending more time negotiating and messaging?
keziak
OP2 years agoSales are a lot better now that I am pushing auctions hard AND making more of an effort to use ebay prices, not Amazon prices. I always used Amazon prices before if double-listing. To a massive degree I am listing less on Amazon now. But if I do double-list a book I now use ebay prices here.
I am trying to build on success by being generous with making offers and accepting them. But I suspect many buyers don't want to fool around with offers. So I am asking myself if the next step is to develop a system for dropping prices.
klhmdg
·2 years agoIf I want to move stuff out, I will just lower the price to what I need to break even.
I dont like "best Offer" as a buyer or a seller.
If I see Best Offer and just buy the item I feel like a chump for paying full price.
As a Seller I dont like the bottom feeders for Best Offer.
As I Buyer if I see "Sponsored" I move on.
I know if they are paying extra for me to see it and I can get a better deal elsewhere.
So when it is time for me to move stuff out. I just put it at the lowest price I can accept and if it sells it sells. If not It gets donated and I write it off on my taxes.
chevymontecarlo88
·2 years agoAfter a period of time listed i would offer best offers first before lowering the price. After that i would either run a sale (if you have a store) or lower the price. Wash Rinse Repeat. If you use offers first, you are still might sell your item at full price if someone does not jump on the best offer. Many use a 30 day rule when to start discounting there items but it depends on what your situation/inventory goals are.
toysaver
·2 years agoI use markdown manager to have sales. I don't have time or the inclination to handle emails about pricing.
Markdown sale events | Seller Center (ebay.com)
keziak
OP2 years agoDo you have good luck using Markdown Manager? I used it in the past but don't recall it being very effective.
toysaver
·2 years agoYes, I usually have some sort of sale going on at all times. I have even raised prices in bulk edit by 10% and then offered a 10% off sale with good results. Buyers like to see some sort of discount. It may not be the most kosher way to sell but it does work.
frecklesfinery88
·2 years agoWe are also doing the same thing. We want to clear out some items and we do take advantage of Best offer. We also will send out pretty good offers to those watching items and it does usually drum up some sales. It has been a consistent way of selling this quarter. We all do what we can to make the sale.
Have a great day!