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jumble
Power Member
Joined: 05 Mar 2007
Posts: 138
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 Posted: Mon May 21, 2007 1:07 pm Post subject: Generate Interest on eBay with Pricing and Price Changes |
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I would be interested to see if people think there is much truth in this. This guy reckons if you change the ebay price by a few cents it can make a big difference.
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The obvious way to get attention with your opening bid is to make it outrageously low. Perhaps $0.01. (This assumes that you aren't trying to insure yourself against a low bid by adding a $20 handling charge to, say, a small item that costs only $2 to mail.) There's nothing like a leading zero to make the scanner pause. However, a lot of people use this trick, perhaps so many that it's not as effective as it once was. The same is true of $0.99, which to the seller is the same as one dollar, while supposedly fooling the buyer into thinking it's much less.
But you can still play around with prices for effect. Try jarring buyers' eyes with some unexpected numbers in an opening bid, like $0.43 or $0.37. Since a low opening bid is in effect a token bid, $0.43 or $0.37 is the same as $0.01 from the seller's perspective. But either of these is new, or at least different, to buyers - different enough to make them notice.
Odd numbers in higher opening bids can get attention, too: $7.38 rather than $7.50, for example. Because of the retail pricing structures we all grew up with, most of us have a tendency to use -49, -50, -95, -97, -98, or -99 when we set a dollar fraction in a bid, so any number other than those is likely to stand out. |
Full article: http://www.auctionbytes.com/ca.....bu0191/s02 |
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| Posted: Mon May 21, 2007 1:07 pm Post subject: Recommendation: Auction Selling 101 |
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Mark
Site Admin
Joined: 02 Aug 2005
Posts: 729
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| Posted: Sun May 27, 2007 10:01 am Post subject: |
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| Might be worth trying. I've read elsewhere that auctions that start in unique opening bids will attract more attention. |
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thecountryowl
AuctionCUT Moderator
Joined: 14 Mar 2007
Posts: 140
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| Posted: Mon May 28, 2007 12:51 pm Post subject: |
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| Actually, it's a great analysis. If I ever get the time again, I'd like to try it out. |
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FrankSmith
Member
Joined: 22 Jan 2008
Posts: 41
Location: Southern California
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| Posted: Wed Jan 23, 2008 8:33 am Post subject: |
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What does your research tell you about the product? Some items are better as Buy It Now and some are better as a low starting bid. Also, a low bid can make an item look worthless.
It's free to research  |
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kevaryan
Just Registered
Joined: 21 Nov 2008
Posts: 3
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| Posted: Fri Nov 21, 2008 6:00 pm Post subject: |
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Walmart utilizes this psychology a bit in their pricing.
Also, I have read that prices ending in 7 tend to be more attractive to buyers (not just on ebay, but in general). |
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fishnchips
Member
Joined: 06 Nov 2008
Posts: 42
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| Posted: Fri Dec 05, 2008 8:58 pm Post subject: |
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| personally, i would be more inclined to look at 1 of those odd numbers more, because it's something different. |
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