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FIB - Scams 101 - Ye Olde Archives
Posted By: Terry In Response To: A " "Buy Now" Question... (MaaMaw)
Friday, 23 September 2005, at 10:33 p.m.
> I know you were talking about items that cost me nothing or close to
> nothing listing for $.99 -- but what about items that didn't cost me
> nothing? (That ain't bad English -- I mean "what about items that
> cost me something?")
> Terry has a box she(?) (I've made a Terry mistake before) paid $500 for
> and she's starting the five listings at $3.99 and she obviously knows what
> she's doing.
> Here's a f'rinstance:
> I have an item I paid $8.77 for at Costco. I have one left. They've sold
> for $16, $19, $25, and $25.
> I have always listed it for my cost plus anticipated fees, plus a
> "Buy Now" price. I want to try something different with this
> one, just to see what happens.
> Do you recommend listing it for $.99 or covering my costs up front? (Even
> in my current poverty-stricken condition, it won't kill me to lose $8.77,
> so I'll probably do it anyhoo.)
Lesley,
two things -First - I'm a HE.
Second - Maybe it's an attitude problem. I always used to be scared of going broke so I marshalled my money and thought over everything.
Somewhere along the line I learned money was abundant. Whenever I needed some it would be there.
It wasn't in college where I learned about scarcity as an econ major. I think it came as a result of learning to trust my skills and abilities.
You'll get there too.
As for your question about buy-it-now. I'll try to say this clearly so Jim and I don't end up arguing the point to death. Buy-it-now is a waste of money for unique items.
Let me define unique items. That's when you have one item. I use Buy-it-now for screensavers and ebooks. I would never use it for a collectible.
If you don't know what you are selling, you risk telegraphing poor information to potential bidders. Also you risk giving away items that have higher value because you set the value too low.
If you do know what you are selling, buy-it-now tells bidders what you think it's worth. If you aren't using a reserve, the first bid removes the buy-it-now and you've wasted the fee.
95 percent of eBay sellers have no idea what they are doing. The people I know who sell large quantities of antiques and collectibles all start their items at a low price, don't use reserves, and don't offer buy it now.
Terry
Why would I sell $20 for only a penny on eBay?
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