Selling On eBay
eBay shoppers, like most shoppers, want a deal. Unlike most shoppers however, eBay shoppers may be more astute since they spend a considerable amount of time searching the site. Generally speaking, goods on eBay move quickly and offer higher profit margins because there is no overhead. Therefore, you can price your items accordingly, to attract savvy bargain shoppers. It is important to be familiar with eBay pricing in order to be competitive. Let's say one of the items that you purchased in your storage auction is a ten speed Schwinn racing bicycle with a stainless steel frame and all the latest bells and whistles. Search eBay for a similar bicycle and see what it is selling for. Also go to the Schwinn website to see what the bike sells for new. Armed with factual information you can set the appropriate price to list your bike on eBay. It may be advisable to undercut the competition by setting a lower reserve price in order to attract more bidding that might ultimately bring you a higher price in the end. For those unfamiliar, the reserve price is the minimum that you are willing to sell an item for. Setting a reserve protects you from letting something go for less than you would want to sell it for.