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The Bookologist, Number 3 - April 23, 2003 - ISSN 1544-1997


Bookselling Tip of the Month: Pricing Posture on eBay
By Craig Stark
April 23, 2003

There are two basic approaches to pricing your inventory on eBay: starting it low and letting competing buyers determine the final price; or taking charge of things yourself and pricing it where you want things to end up, or think they should. The latter strategy won't work well, if at all, with common items, but if your emphasis is on locating and selling high quality books - that is, maximizing your profits - consider giving yourself more say in pricing when you've got a strong title. Use ambitious opening bids and/or reserve prices, in combination with BIN's, to test the waters.

If something sells on the first try, great. You'll realize a handsome profit. If it doesn't - and you believe in your product - relist it at the same price. If several relistings don't produce a result, consider dropping the price or taking it off the market for a month or two, which has a freshening effect with many less common items. Eventually you'll find a buyer, and what's more, you'll arrive at the final price by lifting your buyer up, not by letting him push you from behind. More often than not, even when relisting fees are factored in, you'll do better with better pricing posture.

About the author:

Craig Stark is a full-time online bookseller and was the former editor of The Bookologist.


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