One of the things I like about eBay is the variety of auctions that are available to sellers. You have the standard auction, the Buy-It-Now (BIN), the auction with a BIN option, and you even have a BIN with a best-offer option. Which one’s are my favorite? In the past, I was strictly using the standard auction when listing my thrift store finds but I now use a combination of the first three formats. My least favorite – without a doubt – has to be the BIN with best-offer, and for several reasons.
For some reason, I seem only attract low-ball offers with this format and I rarely get the price that I want. Plus, I receive offers on the majority of my items even WITHOUT best-offer option so what’s the point of. Nowadays, if I do decide to use this option, I price the item intentionally high (in anticipation of low offers) just so I can receive a decent bid. For example, I have Polo Ralph Lauren shirt that I have listed for $249.99 or best-offer and the best offer I’ve received so far is $79 (not bad I guess, but I think I can do better).
I’m all about making things simple so I wanted to share with you an auction price point that has been converting like crazy for me: $39.99!! I called this the “Goldilock” price point because it’s not too low and not too high – it’s just the right price for buyers to commit. I guess there’s just something about spending two $20′s that make people thing “Ah, why not?”. In fact, I had trouble selling several of these items with auctions starting at $24.99, but they eventually sold when I listed them as a $39.99 BIN (go figure).
I’ve been enjoying a recent spike in sales and I hope you’re experiencing the same. Don’t forget to check out My Reseller Guide or sign-up for my Free 2-Week Mini-Course to discover even more great thrift store items to resell on eBay.
Until next time, hope you’re having an amazing week and good luck at the thrift stores!
Vintage Chicago Bulls Jacket
Item cost: $6.99
The North Face Cargo Pants
Item cost: $3.50
Buckle Bootcut Jeans
Item cost: $6.99
Youth Air Jordan
Item Cost: $2.99