Selling expensive items on eBay is really no different than selling lower cost items. Basically, no matter what you are planning to sell, it all boils down to how you can market the item you are selling. This doesn’t mean you have to go around the entire Internet placing ads everywhere to your eBay auctions, all the marketing is
already done for you at eBay website. Essentially, when you
first set up your auction, you are building an
automated marketing campaign to get people to find your item on eBay.
The first thing that you must find out is what the value of your
item is, in three different ways. This will help you with what your reserve price should be. The reserve price is going to be the lowest price that you will to take for your item.
First, evaluate and determine what is the actual market value of your item. The next thing you want to do is, search for similar items in past auctions on eBay to see what those items sold for.
And finally, determine what you think the value of your item is. Now armed with all this information you will be able to make a decision on what the lowest price you are willing to sell the item for.
Now set your reserve price for your item, and then place your opening bid price lower than $50 – does not matter how high your reserve price is. This is an advanced marketing tactic which works well on eBay.
It will be hard to attract potential buyers to an auction for an
item selling for hundreds or even thousands of dollars –but getting them to an auction where the opening bid is only $50 or less 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 called, ( Bate And Switch ) that are simply designed to ‘get customers into the front door.’
Be sure to put in the most effort on the description for your product listing. Use words that really describe your item extremely well. Make sure to provide the best details as possible, including details that prove the authenticity of collectible items. Include as many pictures as possible of the item you are selling as well.
Do not deceive your potential buyers! ( This is one quick way to end your selling venture on eBay ). If the item has discrepancies or scratches, be honest about it, and make sure that the pictures
show this as well.
State how the item will be packed and shipped. And let potential buyers know that shipping insurance must be purchased as well – just in case the item gets damaged once it leaves your possession.
For higher priced items, most eBay buyers feel more comfortable using an escrow service and you should be as well because this protects your payments.
Offer the escrow as an option in your auction, with the understanding that the buyer must pay for this service. This protects both parties from fraud, and it makes many buyers more open to spending the money to purchase the item from you.
eBay has partnered with an escrow service that is commonly used for high ticket items.