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Generate Interest on eBay with Pricing and Price Changes

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Postby jumble » Mon May 21, 2007 1:07 pm

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.

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/cab/abu/y20 ... bu0191/s02
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Postby Mark » Sun May 27, 2007 10:01 am

Might be worth trying. I've read elsewhere that auctions that start in unique opening bids will attract more attention.
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Postby thecountryowl » Mon May 28, 2007 12:51 pm

Actually, it's a great analysis. If I ever get the time again, I'd like to try it out.
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Postby FrankSmith » Wed Jan 23, 2008 8:33 am

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 :)
Frank Smith

www.MyBossIsDeadToMe.com

NOTE: Did you know that the biggest mistake new eBay sellers make is that they forget to use the 80/20 rule? Send me a message and I'll tell you more.
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Postby kevaryan » Fri Nov 21, 2008 6:00 pm

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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Postby fishnchips » Fri Dec 05, 2008 8:58 pm

personally, i would be more inclined to look at 1 of those odd numbers more, because it's something different.
Check out this blog about iOffer:
http://iofferdude.blogspot.com
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Postby binbout » Sun Feb 15, 2009 7:17 pm

Try going to http://binbout.com you can post
retail sales, links to individual auctions, it has an
ebay search database for ebay sellers and stores along
with feedback details! Sign up is free and RSS is free
to all , not just who subscribes to the web directory.
binbout
 


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