Thursday, 7 June 2007

How Much Is It Worth? Estimating Your Item’s Value for Sale on eBay 

By John Caldecott

Proper pricing of items to be listed for sale on eBay is one of the most important aspects of generating interest in one’s 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 are steps that will aid in that process.

Step 1: How Much Was this Item Originally Worth

First of all, one must find out how much the item was when it was bought. This helps the seller set realistic goals as to how much he will expect to profit from that item.

The seller must remember that the going price for that item nowadays 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 come to an acceptance of the fact that the buying power of today’s $1 is different from that of ten years ago.

Step 2: Do a Little Research

Sellers should research on the current price of similar items. This gives them a good standard as to how much they should price their wares. Searching eBay for successful auctions of similar wares is the best way to do this.

Step 2: How Much Has the Item Depreciated?

The seller must check the item for damages and other irregularities from a mint conditioned item of the same kind. He must then deduct a reasonable amount from his asking price. Wear and tear tends to bring down the price of an item considerably. It is wise to make sure the items are repaired, or spruced up before being auctioned.

Step 3: Start It a Little Lower than Usual

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 its intended price actually have a better chance at overshooting that intended price.

Professional opinions are available if the seller is in doubt of the value of his or her item. Third party appraisal companies help in this regard. A list of such is available at the Authentication & Grading link under Protection and Authentication on eBay.

John Caldecott

Ebay Articles

THE POWER OF WORDS - By John Caldecott

It is a known fact that a business could never be successful without the aid of advertising. In fact, it is considered as the lifeblood of almost all kinds of businesses. That's why sellers and entrepreneur wannabes on eBay understand the impact of an effective advertising technique on their items listing.Basically, the sale of an item on eBay is dependent on the so-called eBay keyword program. This program asserts the fact that the probability of an item to be sold is based on the keyword used by the seller.The eBay keyword program suggests that the maximum number of keywords to be used in an eBay ad is 100, the least is 50. This is because the essence of the description of the product or the ability of the ad to promote the item against a thousand similar items is lessened.This does not necessarily mean that the sellers will also limit the amount of keywords that they will use. The eBay keyword program further suggests that the number of keywords should be congruent to the identity of the product. That is, it should be very specific even down to the last details of the product. For example, one seller may make his or her descriptive title and ad using the word "mobile phones". Then, another seller posts the same item but used the words "Sony Ericsson mobile phones". And lastly, another seller does the same but used the words "Sony Ericsson k700i". Applying the keyword principle, the third seller will most likely gain more exposure than the other two, such that when a person search for a Sony Ericsson k700i, that person will most likely be lead to the third seller's listing.Choosing the best category for the product is another effective advertising technique.There are those online shoppers who search items on the category first. The reason behind this is that they don't have any specific product in mind. For example, a buyer may be looking for a mobile phone but doesn't know what brand to have. So, it's a must that the seller places his or her item in a category that is active or is frequented by most buyers.But the most important advertising technique of all when selling an item on eBay is to create a sales pitch that comes from the heart. Clichéd as it may seem but, in reality, it is the basic concept of selling. A good seller believes on the product that he or she is selling, other wise, he will have a hard time convincing people of he personally doesn't accept it as true.

John Caldecott

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