Reserve Prices for Powerselling Auctions
February 11th, 2008 by Joyce PriddyIf you look through the list of auctions that have bids, the majority of powersellers do not use the technique of reserve auction prices. There is a reason for this. The response rate and the actual reserve price being met are not as high as other auction formats and thus powersellers have learned this already or gone through this the hard way.
Some sellers put a reserve auction price and a buy-it-now price. This completely confuses bidders and many will shy away from these auctions because they are confused. Other bidders shy away from reserve auctions because they figure that they will not get a decent deal in the process and are not willing to even make an attempt at bidding on the item.
Your best bet is to research your item and set a fair starting bid price. If you use the buy-it-now feature, perhaps set it slightly higher than what you hope to get on bids to encourage a bidding process to start. This will save you headaches and increase your power of selling on eBay.
Joyce Priddy wrote this on February 11th, 2008 and filed it under Auction Management, eBay |
