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Should
You Lowball or Highball your Buy It Now Price?
One of the biggest problems
eBay sellers find is trying to set their Buy It Now price. This is the
price they would be willing to end their auction for.
Buy It Now is often thought
of as a double edged sword. On one hand, you can get much more for your
item than if there was only one or two bids at the minimum bid. But on
the other hand, you might have gotten a substantially higher dollar amount
if the auction had been allowed to run its duration.
So when it comes to setting
your price, should you set it a little higher or a little lower? Obviously,
you want to set it so you are making a profit. And searching completed
items to see what kind of prices your items have sold for, as well as
if they have also sold for a BIN price, is a good indicator of what you
should set your BIN price for.
If your item is in demand,
with more bidders/buyers than sellers, you could easily set your BIN price
on the higher side. But if the market is saturated, or you just aren't
sure, set it a little on the lower side - high enough that you would be
pleased to get the price for it, but lower than you might set the BIN
price if it was in demand on eBay.
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