Price

I have tested starting prices extensively and my conclusions are that £9.99 is the optimum start price for my own particular niche. (obviously your starting price will depend on the type of products you sell, but the following general principles will still apply).

Starting at 1p or 99p does bring in more bidders but these tend to be bargain hunters and the auctions often end way below £10.00 and we are not in the business of giving our items away. Very low starting prices give the impression that our item is worthless which frightens away the genuine collectors.

I have found that starting at the other end of the scale say £19.99 is too high and deters most buyers. Most auctions started at this level go unsold.

£9.99 is where I start my auctions and this price ensures most of my items sell, it also ensures a profit if only 1 bid is received. More often than not several bidders will push the price up to £20, £30 or £40 and often considerably higher.

I have found that using reserve prices has a very negative effect on final values so I recommend you disregard them.

If you have enjoyed reading this post, pop your details in the boxes and I will send you my regular email newsletter absolutely FREE!