Tuesday, March 9, 2010

How to Sell Expensive Items on eBay

Guest Post by Shane

Whether you sell expensive items on eBay or low cost merchandise, how you market the item is what ultimately determines the success or failure your listings may have.

This does not mean you should start placing ads all over the internet; you want to keep your marketing at the eBay website. The truth of the matter is that whenever you list an item on eBay, that auction actually becomes your automated marketing campaign.

Determining the value of your item should be your top priority and this is done in three different ways. Following this step will help you in deciding what your reserve price is going to be. (This being the lowest amount you're willing to accept for your item on eBay) You first have to find out what the real market value is for that expensive item you have. You do this by researching similar items that have already ended and seeing what those items sold for. Lastly, you need to figure out what the real value of the item is to you. Once you have all this information it should be easy to determine and establish what the lowest amount that you would be willing to sell the item for is.

Now you will set your reserve price while setting your opening bid as well. The opening bid should be no greater than $50 no matter how high you set your reserve. In essence you are using a great marketing tactic where you will offer an item worth thousands of dollars at a low starting bid of $50 or less. This will guaranteed that you attract and bring in many potential buyers looking to steal a deal. The catch is that since you have your reserve price in place, you won’t have to sell your item unless the final bid matches or surpasses that amount. All the while, you are using a marketing gimmick designed to simply get customers to 'set their foot in the door'.

Providing as many details as possible when describing your item is also very important. Choose your words carefully when describing your listing. If you provide as many details as possible - including information that proves the authenticity of your item – will sure to go a long way in attracting potential customers.

However, be sure to include any scratches or marks the item may have. The pictures you take should convey this fact to the buyer. Let the buyers know how much it will be for shipping and insurance, which must be purchased in case the item gets lost or damaged once you ship it.

Most eBay sellers feel better using an escrow service for higher priced items. You can offer this option to the seller explaining to him or her that one, the buyer must pay for the service and two, this helps protect the both of you from scams or fraud. There is an escrow serviced which eBay has partnered with especially used for high priced ticket items.

Author Bio:
Finding ways to increase income is more essential today than ever before. One definite way to boost your finances is to use Ebay. We've got the ultimate inside scoop on how to make money on ebay now on http://www.dropshippingplanet.com.

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