Should I overcharge my items or be fair?

[20_percent_awesome]

So there's some items I got from another store that had some items that were out of stock, in this case, there were some wagons from the Bachmann Thomas range that were sold out from major retailers (I paid only $22 each, and sold them at the retail price, which is $32-33). I sold 3 of them and made $30 extra along with how much I bought them for. However, my grandmother said to me that I should've sold them for $50 and was upset that if I want to sell as a part time job that I should charge the items extra because what would happen if they aren't around to pay bills and I have do everything as I'm the oldest brother.

But the problem is that if I charge the items I bought for too much, then someone would yell at me for selling it too high, or worse report me. Like what happened last month that I was selling an item I didn't want anymore and charge it for the amount I paid for it, and someone lashed out on me for overcharging it, even though it was how much I paid for it in the first place.

So when is it that I can sell something for a fair bargain, and when is it a good time to sell something for a higher price?

[nobody*s_perfect]

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@20_percent_awesome wrote:

Considering everybody is saying my grandmother is right, I should overcharge all of the items I have in my store for a higher price as people are saying I'm not trying hard enough.

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If you're still calling it "overcharging," then you haven't fully understood the advice you're  getting. 

[fashunu4eeuh]

Hi, to get an idea of what price to set, look at your competition’s prices. Then look at Completed listings on eBay to see what price it actually sold for. Or didn’t sell for. Do some basic research on your items before listing. This will all help inform you what the market can bear. 

It is very important to learn not to be wounded by criticism from strangers. You must look out for your own interests on eBay. There is nothing wrong with turning a healthy profit. Your prices don’t have to be fair to anyone but yourself.

You are in charge, and a buyer threatening to report you regarding prices is an empty threat. Such a person is hoping to manipulate you into lowering your price, trying to take advantage of your inexperience. I am so glad you came here for advice and not let people dissuade you from selling according to your own needs and decisions. 

I also was the older sibling like yourself, responsible for my younger brothers and sisters, helping to raise them. Keep this in perspective—your obligations are to the family and yourself, not some anonymous eBayer who is looking for a deal at your expense. So hang in there and come back to the forums for help when you need it. Good luck to you and best wishes for many future sales.

[remote_controls_and_more]

Is your goal to make money or are you doing this for fun?

[bach4231]

Exactly.

[div_style]

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@inhawaii wrote:

Get as much as you can.  Just don't be a price gouger.  😃

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There's no such thing as price gouging on items that no one actually needs but only wants.  For such items, like collectibles, charge the highest possible price at which they will sell.

[fern*wood]

Have you tracked your fees to see what or if you are making a profit?  

[hawkwind5454]

Don't ever be ashamed of making a profit. None of us are in this for our health and the more profit you can make on it, the better. Don't bow down to the cheapskates... A good seller always ensures that their sense of making a profit is stronger than a would-be buyer's sense of being cheap. Making a good profit is not a crime...neither morally or legally.  Let those who tell you that you are charging too much, or engaging in unfair price gouging, go float on a raft down a serene river.  (I don't advise that pharmaceutical companies, [etal] do this. but here on eBay it's a different story) Of course the cheaper one sells, the more buyer prospects they're going to have. That's just the way it has always been with free enterprise. 

One does not receive any extra brownie points for selling cheap. However that is a risky balance between volume selling and profit margin that the seller has to decide for themself.

[sakic92710]

To be honest - what does it matter when considering prices?  NO ONE IS BUYING!!!!!  lol   I've had 2 sales in 9+ days.  Whether I have items listed for $5 or $150.  Everything just sits & stagnates on eBay.  SO FED UP!  If sales on Kijiji didn't happen, I wouldn't have been able to pay my rent.  Do not rely on eBay for any kind of success or income.  Management has ruined this site over the course of the last decade.   2020 is worse than ever!  Good luck to us all.     🙂

[monster-deals]

First, it is 100% impossible to sell overpriced anything on ebay...that isn't even a thing.

Second, if you want to sell full time you will want to make the most of every sale

[byrd69er]

First I'd kindly tell them to mind their own business.....and then block them.

[fuzzface50]

you sell the item at a fair price if you just want the item gone and you have plenty of competition here.  but if you are on the fence about selling it, try to get a decent price that will push you over. 

me I still like auctions when I have something that isn't readily available in a store. you just never know when you might get 2 people that just have to have it and that makes a homerun for you and you don't need to feel guilty about what it sold for because the buyers picked the selling price not you.  just start it at the minimum that would make you happy just in case you only get the one bid.  an item I thought was worth only around $100 sold for $2,000 because 2 guys really wanted it.  I don't mind leaving some meat on the table  for the next guy but not that much.