$1 opening bid - yes or no?

Pancho

Hey guys and gals!

I'm looking to clear out a few items next year and am curious as to whether it's better to start things at $1 for auction or start the bidding higher? I genuinely know which approach is better - you're going to get more nibbles at a bargain price but then you run the risk of a $50 piece selling for $10.

Is it better to hedge your bets and start bidding somewhere in between $1 and what you think it's worth?

Any tips would be appreciated!

Thanks! 

John

If you are listing on ebay you need to be careful. They are giving free listings en masse so many auctions get buried amongst the thousands of items for sale. Also, they have introduced a "promoted listing" service where sellers get more exposure over others if they pay more in final value fees. If you list with opening bids at $1.00 you might end up selling a lot of items at low prices and then having to spend a lot of time packing and shipping for not much return. 

If you start the items at a price that you are more comfortable with you will sell less but probably do better in the long run with less work. Bottom line is the listing fees. If you are listing for free then you can afford to be protective with the opening bids.

Pancho

Thanks John!

Bruce

Definitely on eBay start at the price where, AFTER all their fees, you net the price you want. Then list them over and over every free listing day, until they are all sold.

And offer free domestic shipping (but up your prices by the amount that costs you). eBay buyers LOVE free shipping.

Rick

i've seen a fair few things sell below expectations in recent times, both on eBay and other sites. Of course you can always let me know what you're offering!