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*Originally posted by who---me: *
How do buyers usually react to Buy Now price, Reserve price and starting price?
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Who---Me, Buy Now is great for those who want "instant gratification", although everything seems to be "item dependent".
IE is the item readily available in a certain region. 18th century American antiques are prevelent on the east coast - much rarer on the west. People migrating west took very little with them, and a lot of what they took didn't survive the trip. 19th century items are more available on a national level. But, because we live in the central US our cost of living and prices are considerably less than New York or California. Therefore much of what we sell is to people on the coasts. By the same token, if we want 16th century or older items, we have to buy from overseas.
Reserve price and starting price are another animal alltogether! As you may know, you pay a fee based on the starting price, another fee for setting a reserve price, and, ultimately eBay gets a percentage of the final price when the item sells.
I've seen items with a reserve of several hundred dollars or more with a starting bid of $0.25! We always set a starting price that covers our investment, so that it the item only goes for the minimum bid, we don't lose anything.
If you know that you can sell your item locally for $100, but, feel it should or might go for more, you put a reserve on it. If the reserve isn't met then you call your local buyer and you still have made your $100.
Again, new items and antiques are different animals. If we can buy an item for $25 that we know antique shops sell for $125 (We buy mostly from auctions, garage/yard/estate sales and flea markets), we can list it for $75. The buyer knows that he/she's getting a deal, and, we still make a respectable profit.
Also, use eBay as a research tool BEFORE listing your item, or when deciding what kinds of items to list. Look at completed auctions to see what your items have been selling for. It's a waste of time to list a $25 item if the last several listed only sold for $10!
WHEW!! If I'm this "wordy" typing, your ears would be hurting by now if you had to listen to me! Sorry!
Hope this information helps.
Peace To All Who Read This...