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Estimating
an Item’s Value for Sale on eBay
Proper pricing of items
to be listed for sale on eBay is one of the most important
aspects of generating interest in one’s on-line
auction listing.
If the price is too high, interest will
be low, and the possibility of a sale decreases.
If the price is too low, the seller
generates enormous traffic, yet the final bid might
be too low to satisfy the seller’s need for a profit.
The following steps will aid in the
process of pricing an item for sale on eBay.
Step 1: Determine How Much the Original
Item was Worth
First of all, one must find out how
much the item cost when it was new. This helps the seller
set realistic goals as to how much they can expect to
profit when the item is sold.
The seller must remember that the going
price for the item in today’s market will be different
from its original price. And depending on the demand
for that item, he may get a price that is better, or
worse than the original price.
The seller must also acceptance the
fact that the buying power of today’s dollar is
different from that of ten years ago.
Step 2: Do a Little Research
Sellers should research the current
price of similar items. This gives the seller a good
standard as to how much they should price their item.
Searching eBay for successful auctions of similar items
is one of the best ways to do this.
Step 3: How Much Has the Item Depreciated?
The seller must check the item for damages
and other irregularities from a mint condition item
of the same kind. They must then deduct a reasonable
amount from the asking price based on their evaluation.
Wear and tear on an item will definitely bring down
the price of an item considerably. It is wise to make
sure that items are repaired, or spruced-up before being
auctioned.
Step 4: Start a Little Lower than
Usual When Setting the Selling Price
It is wise to start an auction a step
or two (or even three) lower than a sellers intended
price. This generates interest in the item. It may be
hard to believe, but auctions that start lower than
the intended price actually have a better chance of
overshooting the intended price.
Professional opinions are always available
if the seller of an item is in doubt of the value of
his or her item. Third party appraisal companies help
in this regard. A list of such companies is available
at the Authentication & Grading link under Protection
and Authentication on eBay.
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