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What is a better choice for starting prices high or low?
 

I'm currently doing an experiment right now on this already, but I was curious to know what you guys prefer. Right now I have 2 identical listings up for a product both started 1 day apart. The first one, I started the auction price at $59.99, right now it has 1 watcher and 0 bids. The second auction started at $0.99, right now it has 15 watchers, 14 bids and the price is already at $33.00

Do low starting prices always do better and get more attention? If so, is there a drawback to starting lower like getting more negative attention, flagged easier or competition ratting you out?

Thats a really good question.

My take is this. My priority is to shift any stuff I have. I hate having stuff just hanging around. I want it out as soon as possible so I can get more stuff in with the same principles in mind.

Now depending on your product that you are selling depends on the demand for it. For example a hot product that everyone wants will have lots of interest in both the buy it now and auction format and will literally fly out the doors shortly after listing it.

I think I am right in saying that if you list a product starting at 99p, the more interest it gets will help it rate higher in search pages. So when people search for an item that has some of your keywords it will appear closer to the top of the page.

Also the same goes for the buy it now format. When you start selling this item assuming that you have several of the same item it will appear higher up in the search results.

If I use buy it now I almost always have the "best offer". Like I said I want my stuff out the doors as quick as possible and if you price something up that compares with what else is currently of offer you have the opportunity to reel in those potential customer by inviting them to put in a best offer.

You then have the choice to accept or submit a counter offer. Now at this stage you are in an open negotiation with them where you might not have been before. Granted that could have just bought the item anyway, but who knows?

The pain with the 99p auction is that if the item is a mid or high value item but is not an everyday item, or for a specialist group then there is always the risk with it ending at a frustrating low price to which you then have to honour. Balance this with the same item in buy it now format just sitting there gathering dust waiting for someone who wants it.

Its a juggling game. What I tend to do is try out different things and see what works for you.

For example I listed an item in auction format for 10 days. I then list the same item in buy it now or best offer format for 7 days. My goal is to either get an offer which I deem acceptable within the short timeframe, if not then the buy it now auction will expire and it will go for what it goes for with the 99p auction.

I just did this and in some cases I think buyers may see the buy it now option and this could affect their highest bid in the auction. As I said above its a bit of juggling. If you sell with buy it now, make sure you end the auction listing early if you have no more of the same item.

There are no hard and fast rules with this. Look around and go with your gut feeling. I always list popular items for 99p if I have the confidence that they will sell for a fair price. I err on the ege of caution when listing not so popular items.

The best thing you can do is look on ebay and do a google search for your item so you get an idea for price and then go from there.

Like I said my main goal is to get stuff sold as soon as possible. Its the ABC rule. (Always Be Closing)

The more you do it the better you will get at it. There will be some things that sell cheaper than you will have liked, some will do better, but the more you do it the better you will get at it.

Good luck!