I saw a 16 year old kid’s Youtube video where he said to always start your
eBay item at 99 cents. He said this is a sure way to generate interest and bring in more bidders. Can you tell me what your thoughts are on this? I have seen where people are doing this, ($45 ended out the winning bid on used pair of shoes, was one example).
Check your eBay knowledge now.
A fast answer is “Yes you should start your auctions at 99 cents or less.”
A better answer is when selling widely traded items you should start your auctions at 99 cents.
If you have an eBay store, you will save on insertion fees. Currently non-store owners get the first 50 or more auction listings free so the savings are only for stores.
Notice that I said widely traded items. This means items where there are enough buyers and sellers to bid the price up. The majority of items on eBay fit into this classification.
Thinly traded items are things like one-of-a-kind collectibles and rare variations that appeal to a small number of collectors.
Items that are not widely traded should be started at higher amounts or listed with a reserve. Currently, I’m listing these rarer specialty items with high opening bids and no reserve ONLY when eBay runs free listing days for store owners. This saves me the reserve auction fee and the insertion fee.
While we’re on the subject of starting prices, one of my pet peeves about eBay is the site has become overwhelmed with overpriced garbage. This happens because idiots list things with opening bids or fixed-price amounts higher than the true value, and then relist when no idiot is found to buy it.
Some of the eBay categories I watch now have thousands of these constantly repeating listings. As a buyer this makes it harder to find the items I want, and as an eBay teacher amazes me at the wasted eBay fees.
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