How to Sell Expensive Items on eBay

Selling expensive items on eBay is really no different

than selling low cost items. Essentially, no matter

what you are selling, it all comes down to how you

market the item. This doesn’t mean you have to

surf around the Internet placing ads here and there –

when it comes to eBay auctions, the marketing is

all done at the eBay website. Basically, when you

set up your auction, you are setting up an

automated marketing campaign.

First, you must determine what the value of your

item is, in three different ways. This will help you

determine what your reserve price is. On eBay, the

reserve price is the lowest price that you are willing

to accept for your item. First, have your high priced

item evaluated to determine what the actual market

value is. Next, research similar items from past

auctions at eBay to see what price those items sold

for. Finally, determine what the value of the item is to

you. With this information, you should be able to

determine the lowest amount you are willing to sell

the item for.

Set your reserve price, and then set your opening bid

price lower than $50 – no matter how high your

reserve price is. This is a marketing tactic. It will be

hard to attract potential buyers to an auction for an

item selling for hundreds or thousands of dollars –

but getting them to an auction where the opening

bid is only $50 is quite simple. Remember, you don’t

have to sell the item to anyone who bids less than

your reserve price – unless you choose to do so at

the close of the auction. This method of price setting

resembles marketing gimmicks used by offline

businesses that are simply designed to ‘get customers

in the door.’

Work hard on the description for your listing. Use

words that really describe your item well. Provide as

many details as possible, including details that prove

the authenticity of collectible items. Include pictures

of the item as well. Do not try to deceive potential

buyers! If the item has marks or scratches, simply

be honest about it, and make sure that the pictures

convey this as well. State how the item will be

packed and shipped. Also let potential buyers know

that shipping insurance must be purchased as well

– in case the item is damaged once it leaves your

possession.

For higher priced items, most eBay buyers feel more

comfortable using an escrow service. Offer this as

an option in your auction, with the understanding that

the buyer must pay for the service. This protects both

parties from fraud, and it makes many buyers more

open to spending the money to obtain the item.

eBay has partnered with an escrow service that is

commonly used for high ticket items.

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