Undercutting Your EBay Competition Starts Right Here
How to get the drop on your eBay competition, that’s the ticket. You can undercut your competitors and walk away with the money and all the while play fair. No need to sucker punch the competition when you can deliver the knock out punch well above the belt.
The fact of the matter is, starting your eBay auction off at a low selling price can mean a higher ending price which means higher profits for you. The idea is to create a buying fever.
You want to stir up a frenzy of interest. Starting your auction at .89 or $1.99 mean you don’t pay high listing fees, but it also seduces prospective buyers into bidding. You, in turn, can also establish a reserve price just to make sure that you don’t sell at a loss. A reserve price is a hidden mimimum bid that must be met in order for the item to sell. If the bids remain under the reserve, the item doesn’t sell, and that means you don’t take a loss.
That’s not the only reason you might want to consider starting your auction at a low selling point. Think subscriber list. The idea here is that after buyer makes payment he or she is directed to a subscriber page to a newsletter. This way, you can follow up with emails and potentially sell more products.
The long term view is that by listing your products at low prices gives you more exposure. More exposure means more list sign ups, and that in turn means more future sales down the road.
In the end, if you list your auction products at a low price, you give the impression of undercutting your competition. Your low listing fee will draw attention and clickthroughs to your auction page. To some degree, this is a numbers game. The more people viewing your auction, the more people bidding. In this way, you gain an advantage over those listing at higher starting prices.
Keep in mind that it is still important to have some understanding of the market value of your product or products. You still have to make some assessement of the overall demand for your items. As with all auctions, high demand combined with low competition will always produce the best auction ending prices for you.
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[tags]ebay competition,ebay tips[/tags]
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