Wednesday, February 5, 2014

Want to start some .99 auctions?

Back in the day I started all my auctions at .99. My FAQ said I did it because it was fun but I really did it because anything listed over .99 cost to list. I'm not frugal, I'm cheap.

So I've been listening to some really amazing podcasts from the Renegade eBay Sellers:

So far they're my faves because they're concise and don't engage in a lot of inside jokes and chatter. I love a good joke as much as the next listener but when you have over 10 seconds of consecutive giggling its time to study editing.

They only have four podcasts up right now and from what I gather they deal in wholesale importing and selling - not thrifting for fun & profit like I do. Each podcast deals with a separate topic (and sticks to the topic not spends 10% on the topic, 85% on idle chatter and 5% pimping themselves like other podcasters.

You should listen so I won't list all their great ideas but one which made me go "huh" was the idea of starting .99 auctions again.

According to their experience buyers are more likely to get into bidding wars and overbid on auctions even when the IDENTICAL item is available from the SAME SELLER in their store. Psychology dictates once a person bids they immediately identify it as "their" item. A competing bidder is seen as someone trying to steal their stuff.

I'm willing to try it but first need to have multiples of one item to compare sales. I want to start one at "normal for me" price and another for .99 and see what happens. Maybe I will try it with some Walgreens freebies since risk there is nil.