A Simple Guide to Selling Expensive Items on eBay
ou may think that selling expensive items is very different from selling inexpensive items on eBay. But the fact is there are not much different. No matter what item you are selling, it all comes down to how you market and promote the item. But this doesn’t mean that you must search around the Internet posting ads here and there. when selling on eBay, the marketing part is all handled by eBay. You just need set up your auction to list your product and ebay will send targeted buyers to your auction.
Set the lowest selling price for your high price item
To sell your expensive item on ebay, you must first know the lowest price you are willing to accept for your item. You can follow this three simple steps to determine the lowest price of your item:
- Have your high priced item evaluated to determine what the actual market value is.
- Next, look for similar items from past auctions at eBay to find out how much those items sold for.
- Finally, determine what the value of the item is to you. With this information, you should be able to determine the lowest amount you are willing to sell the item for.
Use the reserve price feature of ebay to attract potential buyers
Once you have determined the lowest price, you can starting setting your reserve price in your auction (On eBay, the reserve price is the lowest price that you are willing to sell for your item). And then set your opening bid price no more than $50 – no matter how high your reserve price is. This is an ebay marketing tactic. It will be difficult to catch the attention of targeted buyers to an auction for an item selling for hundreds or thousands of dollars. But setting your opening bid less than $50 will make getting targeted prospects to view your auction a lot more easier. With the reserve price feature, you don’t have to sell the item to the buyer with the highest bid if the highest bid price hasn’t reach your reserve price unless you choose to do so at the close of the auction. This method of price setting resembles marketing tactic applied by offline businesses that are simply designed to ‘get customers in the door.’
Item description and details
The item description for your listing is very important. so you should spend some time to work out a good description. Try to use words that really describe your item well. Provide as many details as possible, including details that prove the authenticity of collectible items. Include pictures of the item as well. Be honest to your potential buyers. If the item has marks or scratches, tell them and make sure that the pictures convey this as well. Provide packing and shipping details. Also let potential buyers know that shipping insurance must be purchased as well in case the item is damaged once it leaves your possession.
Offer an escrow service
The majority of eBay buyers feel more comfortable using an escrow service when purchasing expensive items. so you can offer this as an option in your auction and let your buyers know that they have to pay extra if they want to use the service. This protects both parties from fraud, and it makes many buyers more secure to pay to obtain the item. eBay always struggle to secure the transactions between buyers and sellers, so they have partnered with an escrow service that is commonly used for high price items.
