Better to list at most competitive price or higher price with Best Offer?

[goldrushfinds]

Many people say you should enable Best Offer, as it increases sales. Problem is, I typically try to put most competitive (that I can afford to do) price on an item from the begining to appeal to buyers. Do you intentially list a bit high and offer Best Offer or just list at your most competitive price. Also, have you tested both ways and come to any conclusions?

[richard1rst]

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@goldrushfinds wrote:

Many people say you should enable Best Offer, as it increases sales. Problem is, I typically try to put most competitive (that I can afford to do) price on an item from the begining to appeal to buyers. Do you intentially list a bit high and offer Best Offer or just list at your most competitive price. Also, have you tested both ways and come to any conclusions?

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I list it for the price I want. And I decline all offers.  Listing it higher and then soliciting Offers sounds too much like a used car salesman. And you know the reputation they have.

There is no need to test a system I feel is inherently unethical.

Now in fairness, although I do not accept offers, I also do not include accepting an offer on a properly priced product as being part of the used car scenario.

[frecklesfinery88]

We have had great success with adding best offer over the years. But, reasonable offers Not half off. You can set it to what you'll automatically accept. Say 10 % off is your thresh hold. Then set it for that to automatically accept.  Just make sure that you are giving yourself enough room in your price.  Also, stick to your price & don't automatically accept that you have to lower the price to sell.  Just do your research and stick with it. You'll stay steady and do well.

Have a blessed weekend.

[bashort]

at about the 70% promote rate the total fees on the transaction as a % of the selling price will be near 100%.

The fact that ebay allows a seller to promote at 100% shows that ebay does not really care how they make money and are more than happy to take it from a seller who either has no idea what they are doing or made a mistake.

One time I took a couple really old low dollar listings and promoted them at like 75% as a experiment, they never sold because no one wanted them, 

[my-cottage-books-and-antiques]

@goldrushfinds  I have no set rule. It depends on the item, what I paid for it, how long has it been listed, and so forth. I do use Best Offer, and whether I accept particular offer or not is also a decision I make based on multiple factors.

Best Offer is a tool in the seller tool box, and I have no problem using it as a seller or buyer.

One thing I keep in mind: most of my items are long tail, some very far out at the tip of the tail. It can take quite a while before someone comes along who is really interested in the item. So, for many of these items, lowering the price may do little to increase sales velocity---it isn't necessarily price that is preventing a sale, it's limited demand. 

[luckythewinner]

Better to list at most competitive price or higher price with Best Offer?

What is "better" for one seller might not be "better" for another seller.

What is "better" for one item might not be "better" for another item.

Do you intentionally list a bit high and offer Best Offer

When I see a listing with Best Offer, my offer is not "a bit" lower, it is a substantial discount.

IMHO putting Best Offer on a listing is like hanging out a sign saying "pay me as little as you think I will take".

[heckofagame]

Keep in mind that most buyers search with Price + Shipping: lowest first.

[my-cottage-books-and-antiques]

@heckofagame No. No, they don't. ebay has stated that 90% plus use the default Best Match. Which makes sense, since most people use the default on any site.

[worldcoinauctions]

I've done the best offer thing on my fixed price account. I would set the price at the high end of what similar items sold for (assuming that was a price I could live with) and accept best offers to 20% lower (again, after making sure that I could make what I needed there.) When things started slowing I reduced prices on all items to my minimum and removed best offer. Meh, about the same either way.

[kensgiftshop]

When I listed items, I listed at the price I wanted.

I never used best offer an I don't by from sellers that use it.

When I see best offer, I know the seller has already jacked up the price to cover the difference of the offer they'll accept.

[rosszonebricks]

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@luckythewinner wrote:

IMHO putting Best Offer on a listing is like hanging out a sign saying "pay me as little as you think I will take".

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 This is definitely my view on Best Offer.   It flat out *advertises* that you will take LESS.  Why open yourself up to haggling?

[heckofagame]

Ok. Then what I meant by "most buyers" is me. 😁

[chariot_badges]

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@kensgiftshop wrote:

When I listed items, I listed at the price I wanted.

I never used best offer an I don't by from sellers that use it.

When I see best offer, I know the seller has already jacked up the price to cover the difference of the offer they'll accept.

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Without even checking of sales of like items?

You don't care what 'market value' of the item actually IS?

As soon as you see the "BIN" button, you're decision is made not to purchase that one?

I price at the middle or so of fair market value.  I offer a BIN button.  My rule is to never to below a certain number ... and never more than 20% discount from 'the price'.  I recognize that the market can move away from what I priced it at six months ago.  It can go up ... or down.  If a buyer sees an item that is worth $20 and I have it listed at $50 - I'd like to know that. 

I appreciate anybody that can show me that I have an item over priced - I will fix it.

BTW:  20% of my sales are a result of BIN offers.  Also, my sales prices are up 11% YOY.  (I'm keeping up with inflation.)

I'm barely hanging on with the fingernails of one hand ... and fingers crossed on the other hand.  

[brightlightbookseller]

We switched over a year ago from bumping up the price a bit and allowing offers to just listing at the price we want and not enabling offers until a few months had gone by (at which point we usually know our price was too high or the demand too low and we're willing to drop a little).  Our sales have only been increasing, so whether it hurt or not it hasn't affected our bottom line in any way worth noting.  I personally like this better, and we still get messages offering lower amounts that we can consider, but most of those I reject until we've opened up offers officially.

[my-cottage-books-and-antiques]

@rosszonebricks  I come from a flea market background, (back in the pre ebay days). So, while sure, I prefer a buyer who pays full price (and some do, even when I have best offer on the listing), I realize some buyers really, really want to haggle and want to feel they "won" the back and forth. I'm a small enough seller that the haggling doesn't take up too much of my time. I don't really mind doing it (did it all the time at the flea market), and I have ended up with sales I might not have had otherwise.

But one great thing about ebay is : Diversity.  We all have different approaches. Some hate the idea of haggling, some are fine with it. Some love auctions, some consider then a waste of time. Etc.