Lower starting Price making a difference in sales?

[LaDigger]

I have had 3 listings this month that I had listed with a starting price of $24.99 on 7 day auctions that failed to sell in the first 2 auctions. When re-listing for the third and final time, I decided to start the auctions at $15.99. The final results, one sale $37.00, one sale $39.00 and the other item at $32.00 with 13 watchers and 11 bids with 2 hours left. I am not suprised they sold, the strange thing to me is they all went above the $24.99 that was up for 2 weeks. It just makes me question whether I should take the chance and start my auctions at a lower price. I always start my auctions at what I would be satisfied with and a little below what I think they are worth. I was just wondering if anybody else experiences this and how much difference starting price matters to buyers.

 

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[Beans]

I have had the same thing happen on different items. Sometimes I think the higher the price the higher in the listing order. So the higher priced same item is seen before the lower priced one. I don't have any stats to back that up it just based on observation.

 

[mugsisme]

I had some jewelry up for a long time (auctions, when they were "free"). When Ebay changed their system, I put them up at the BIN price I had. Two of them sold the first day. Like, where were you guys two weeks ago? You could have gotten it for less. LOL. For some reason, things seem to go when you start it lower. People are hesitant, I think, to bid on something with a higher starting price.

 

[diggummup]

In response to the lower starting bid, I also just sold a piece that I have had listed multiple times for 3-4 months both ways for $29.99 BIN and auction. I dropped the starting bid to $24.99 this past week and it sold for $31 with 4 bids so yes, I think that lowering the price sometimes does help. I'm at odds right now on listing some items with a .99 starting bid, don't know if I want to go that low. I may try it out on some things that will fit in a padded mailer and aren't worth but $10-$20 tops, just to see what happens.

 

[t.oram]

I search occasionally, to show "item with most bids", just to filter through all the crap and get to the good stuff. Sometimes items with a lot of bids are better quality, lower price. Obviously I need to stop doing this.

 

[mugsisme]

I also think you have to be prepared to get less than you want. I will usually start an auction at the lowest price I'm willing to accept. If it doesn't go higher, I got what I want.
That said, I've had stuff sitting for months. Two weeks ago I dropped prices, and nothing moved. The sale went off, and I sold a few things at a higher price this week. Not complaining. When they sell, they sell. No rhyme or reason on eBay.

 

[huntsman53]

Typically, Buyers on eBay will search for an item that they want and then scroll through the items to find those that are priced the lowest as it is in their/our very nature to look for the best deal, so pricing items with a low starting price gets them more visibility and possible Bidders. You will notice that the bidding for these lower priced items (same items but priced lower than your's) will often go higher and sell higher than the starting price that you had on your' item but your' item goes unnoticed. This is due to the Bidders becoming invested in trying to win this item and when the price goes higher than what they wanted to pay, they become discouraged and/or somewhat disinterested in this particular item for the time being. Starting an item with a low starting price, insures that folks are more likely to notice it which will cause them to click on the item to bring up the Auction Listing where they can check out the Pictures, Listing Details, your' Feedback rating and what you charge for shipping. At this point, it is all up to mood of the Buyers and the bidding.

Good luck!


Frank

 

[Paleo_joe]

I have realized that by starting the item out at what I want to get from it, I am basically starting the auction at the market value, or the lower end of it. That is why bidding rarely breaks out and I end up selling to one bidder at the starting bid.

And when I think of the things that have really done well, I've started the bidding low, sometimes even because I didn't know what I had.

I am not selling right now due to summer but when I start back, I am going to start auctions at some percent of market value. Maybe 80%, maybe 50%. Not 99 cents though.

 

[apush]

Last week I had a BIN for a ceiling fan remote control mount listed for $27.00 dollars with free shipping. I had offers two for $22.00 but declined. It did not sell. I relisted it at $22.00 and now I have a bid of $29.00 with 4 watchers. Go figure?
Apush