| Many new Ebay sellers make one of two mistakes: | | | | absolutelynothing--and she risks someone else bidding |
| eitherthey overprice items to an unsellable extreme; or | | | | (and ruiningthe low BIN price) or just snatching it with |
| theylose money on every transaction by setting low | | | | the |
| startingprices with no restrictions. | | | | BIN option. |
| In this lesson, I am going to go over which | | | | In addition, knowing that she will lose nothing |
| pricingstrategies to use and when if you are using a | | | | anyway,she will realize that she can get the item up to |
| ten-dayauction setup. | | | | tendays sooner if she uses the BIN option to order it |
| Strategy #1 | | | | then,rather than waiting for the auction clock to tick |
| If you are listing a popular item that you are | | | | down. |
| confidentwill sell for a high price, one strategy you can | | | | The strategy I described above is very safe. I useit for |
| use isthe ten-day, one cent starting price, no reserve | | | | the majority of my auctions and I always getpositive |
| auction. | | | | results. At worst, it will take me 3-4 weeksto sell an |
| This is the best way to start a bidding war: pull | | | | item, but I wont ever lose money. I justadjust the price |
| inbidders early with a low starting price and no | | | | to compensate for additional fees. |
| reserveand give them ten days and two weekends to | | | | Strategy #3 |
| battle it out. | | | | Another effective way to use a ten-day setting isin |
| Depending on the profit-margin of the item and | | | | conjunction with dutch auctions--or auctions thatsell a |
| thequality and number of your competitors, you may | | | | number of the same item. Ten-day auctions willgive |
| wantto consider using listing upgrades, such as | | | | you the longest amount of time to move the |
| bold,highlight, and feature listing options to ensure | | | | highestamount of products. |
| yourauction sticks out of the crowd. | | | | You may also want to feature ten-day dutch |
| Please note that I do not recommend this strategy | | | | auctions,depending on what items you are selling. If |
| forbeginners. This is extremely high risk if you do | | | | you'reselling information products and rely on the |
| notknow how to take the risk out of it - and this is | | | | quantityof sales for profit, this wont be effective; but |
| notsomething I can teach you. You must determine this | | | | ifyou're selling a number of expensive, high |
| byassessing your own personal inventory with tests. | | | | profit-marginitems, featuring your auction is probably a |
| Strategy #2 | | | | good idea. |
| Now, if you are new to Ebay or want to list an | | | | ________________ |
| itemwith undetermined popularity, you can use a safer, | | | | If none of these strategies works for you, you |
| butpotentially as profitable bidding strategy for | | | | shouldconsider the following two things: 1) the price |
| ten-dayauctions. | | | | other Ebaybusinesses sell your product for. If someone |
| You still wont use a reserve with this strategy. | | | | else ISselling your product, there is a reason for it - and |
| Butinstead of setting the start price low to encouragea | | | | it'sprobably the price. If you cannot afford to sell ata |
| bidding war, you are going to set your start priceto | | | | reasonable price, you need to find a new source tobuy |
| your ideal selling price - and then couple it witha buy it | | | | from. And if your product's price is reasonable,then 2) |
| now price that is slightly higher. | | | | you need to redesign your auction and findnew ways |
| This will put pressure on the buyer to buy it | | | | of pulling in targeted traffic. |
| nowinstead of watching. If she waits, she gains | | | | |