08-11-2018 06:35 PM
Hello, I'm having trouble figuring out if my prices are correct and how to determine prices. I feel like every time I search for my items whether it's by photo, barcode, description, etc. I always find new and different prices. Even in the sold section. It seems to really depend on how you search. For instance I thought my backpacks are a good price, but I recently found them currently selling and having sold for quite a bit more. I find it odd pricing anything higher than the retail price say at like Amazon.
Bonus question For those who buy from estates and stuff. How do you figure out if an item is worth buying if you don't know much about the item? I tried search by photo, but it doesn't work great.
Thank you!
08-11-2018 07:01 PM
First off, you should get a lot more experience selling on ebay before you list something that you think is worth $400. I usually advise to have as much recent selling feedback as the item you want to sell.
I am going to sidestep your question about prices and go with the estate question. I usually don't buy much from estates - they are priced to get as much money for the estate. If I do buy, I buy what i know I can make money off of AND I usually buy it on the last day to get the markdown price.
I buy from garage sales, fund raising rummage sales, and flea markets, occasinally an auction. And I am considered an expert in my category around here, but that wasn't always the case. But right now, i can walk into any place confident that if they have stuff in my field - I can identify it, and be able to tell if I can make money off of it the way they have it priced. I will often leave stuff behind because you make your money when you buy, not when you overpay and then have to overprice just to break even.
I advise you to start buying for resale in a category you know, say you know the clothing that's in style, go with that and experiment in the surrounding fields like accessories, or bedroom vanity items. Or get your hands on price guides - not for the prices, but for the information that never changes. That way when you stumble across an unusual item that happened to be in the book you read, you will know what it is and if it is valuable and the person desperately scrolling around on their phone will not.
And if you get the chance to experiment cheaply, do so. Example, I hit a garage sale with a large collection of cookie molds. They were common as dirt back in the 90s and the trend fell from favor. Since it was last day, i asked if they wanted to sell all of them and they took my offer of about 30 cents a piece and helped me box them up and lug them out to my car. I made my money back in about a week and the rest were a small but steady profit for months after. I now pick up every one I see and from past experience know what will sell and for what.
It takes time to know how to sell right and everyone will make mistakes - the trick is to learn from your mistakes and make sure that if you are going to make a mistake, try to lose as little as possible doing it. Today i hit a sale that had a collection of cute figurines for less than a buck each. I know very little about them, but I was pretty sure that I can sell one of them for the amount I paid to get the 14 of them so it was worth the money to experiment, the research says that I invested smart.
08-11-2018 07:06 PM
08-11-2018 07:15 PM
I know video cards quite well. So I'm not concerned with the $400. Besides that's just a personal item I'm selling.
Thank you for the advice. I appreciate the response. I'll keep this in mind. I'm not really interested in focusing on one category. I want to keep this fun for me and part of the fun is finding different items.
I probably shouldn't have mentioned the estate piece. I'm not really concerned with where I buy, but what I buy. I'm more concerned with how to price items I don't know much about.
08-11-2018 07:21 PM
Sorry, I'm not trying to sound ungrateful or closed minded. I really do appreciate the advice and I'll try to focus on getting more educated on my product.
08-11-2018 07:26 PM
I forgot to mention. I get all my stuff extremely cheap. I'm a bargain hunter. So everything is very low risk for me. Most of my stuff I pay under a dollar for.
08-11-2018 07:27 PM
Hi, when pricing i look at historical data from places like Worthpoint and Terapeak as well as Completed listings on eBay. Note i said i look at Completed not just the Sold listings. Sometimes it is as valuable to know what something didn't sell for as well as the sale price.
I do fairly extensive research on my items, and spend a good bit of time on it, learning as much as i can. There are lots of resources on the internet. But talking to experts and getting valuations on high end items is sometimes necessary, for things such as jewelry or autographs, etc. But research is my favorite part.
Sometimes i am clueless on what price i should put on a one of a kind item. Those can end up going to auction, letting the buying market dictate the amount. Sometimes setting a price is just an educated guess. Other times a crapshoot. But for the most part, i do my homework and set conservative prices. I want it to sell without waiting too long.
As time goes on, it gets easier too. Put in the effort now, it’ll pay off in the end.
08-11-2018 07:35 PM
Awesome! Thank you for the resources. It sounds like I need to put in more time and effort and it will get easier.
I really enjoy bargain hunting for newer merchandise, as well as searching for antiques. I think I'm good at finding a good deal. I need to get better at my research about my products though.
Thanks again!!
08-11-2018 07:38 PM
I did not look at your pricing, but if you did the research, then your pricing should be competitive.
08-11-2018 08:29 PM
@salvistro wrote:I know video cards quite well. So I'm not concerned with the $400. Besides that's just a personal item I'm selling.
Whether you know video cards well or not, is not the reason why you're being advised to be careful, @salvistro. Electronics are a high-scam category, and scammers target new sellers frequently figuring they don't have enough experience under their belts yet to avoid being played. I hope you won't run into any problems, but when other sellers recommend a) don't sell anything worth more than your feedback score AND b) never sell anything you can't afford to lose, their advice is sound.
08-12-2018 04:46 AM - edited 08-12-2018 04:48 AM
As was stated by another poster, my advice about the $400 item is because ebay is now chaging and removing some of the ONLY consistant seller protection sellers have and because you are a newer seller, scammers target you and your high dollar items. Sell the low dollar games first and when you get the unjustified not described (snad) scam and see how ebay's dispute system works in favor of buyers you'll understand why I will not list anything worth over $50 on ebay - no matter how cheap I got it for. I sell on ebay to make money not ship free stuff to scammers.
As I said in my post, you make your money when you buy, you buy cheap, that is great. But thinking that there is some set price that you should price something is thinking that will effect your sales, and not always in a good way.
If you are going to specialize, then you should price like professionals do, but if you are just buying and selling for fun and extra cash, then you should price according to what you have in it. ebay buyers love bargains and if you picked up a $50 item for a buck - if you price it at $50 it might sit forever, but if you price it at $25 it will move fast and you made profit.
I have a friend that buys at the same places I do (we go together quite often), and I know what she gets her stuff for, and she prices most of it a lot less than I would - but she moves it really fast. But she leans toward specialization and prices stuff outside her field cheap to move it.
When I said to go with you know, if you know something, you have an idea of how it will sell and what it will sell for. And the expanse of one category means that you will never be bored. In clothing for example, you have ladies, mens, shoes, jeans, and tons of other subcats, so while it seems focused, it really isn't. I tend to go with clothing and ignore toys, but will pick up a few stuffed animals and games because I know them - I leave video games on the table because I don't know them.
The best way to tell what something will sell for is to just hit completed on ebay. And look at all of the completeds - not just the ones that sold. If you have something that sells on average of $20 but only 5% of the ones listed actually sold - then it doesn't matter what you price it at, the odds are good it won't sell. Too many sellers will look at price sites and think they stumbled onto a gold mine but what they have is an albatross that might take years to sell.
So when you research, don't just look at the price something sold for.
08-12-2018 07:48 AM
Most buyers who buy comestibles, like gum or cat or dog food, would like to know the expiration date on the item.
At least, I would.
08-12-2018 09:21 AM
@salvistro wrote:Hello, I'm having trouble figuring out if my prices are correct and how to determine prices. I feel like every time I search for my items whether it's by photo, barcode, description, etc. I always find new and different prices. Even in the sold section. It seems to really depend on how you search. For instance I thought my backpacks are a good price, but I recently found them currently selling and having sold for quite a bit more. I find it odd pricing anything higher than the retail price say at like Amazon.
Bonus question For those who buy from estates and stuff. How do you figure out if an item is worth buying if you don't know much about the item? I tried search by photo, but it doesn't work great.
Thank you!
Research, research, research.
Your pricing structure depends on what you hope to accomplish here on ebay....do want turn and burn? Double out? Highest profit? Good deal? Make friends?
As for sorcing....your profit is made when you buy, not when you sell. I wouldn't soak any money into anything I didn't know about. That is straight up a recipe for disaster.
So to clearly and plainly answer your questions, it all depends.
08-12-2018 10:01 AM - edited 08-12-2018 10:04 AM
@salvistro wrote:Hello, I'm having trouble figuring out if my prices are correct and how to determine prices. I feel like every time I search for my items whether it's by photo, barcode, description, etc. I always find new and different prices. Even in the sold section. It seems to really depend on how you search. For instance I thought my backpacks are a good price, but I recently found them currently selling and having sold for quite a bit more. I find it odd pricing anything higher than the retail price say at like Amazon.
Bonus question For those who buy from estates and stuff. How do you figure out if an item is worth buying if you don't know much about the item? I tried search by photo, but it doesn't work great.
Thank you!
Did you try going to '' advanced sales'' type in your item description and then check ''sold '' listings ? You can kind of get an idea what people are willing to spend that way . Tulips
08-12-2018 10:02 AM
Are my items priced correctly?
There is no such thing as a "correct" price. If you list a Barry Maliow Greatst Hits CD at $500 that is not "incrrect", it is just unlikely to result in a sale.
I always find new and different prices.
The listngs on eBay change all the time.
Even in the sold section.
Searching active listings only tells you what sellers want, not what buyers are paying.
It seems to really depend on how you search
Yes. Search results are definitely dependent on how you search.
I recently found them currently selling
"Currently selling" really means "currently asking". And not all asking prices make sense.
I find it odd pricing anything higher than the retail price say at like Amazon.
I agree. I think most buyers who know about eBay also know about Amazon and are smart enough to search there.