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Auction Pricing Tips for eBay Motors

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Auction Pricing Tips for eBay Motors
Here are strategies that you should consider when determining pricing information for your auction:

Using a Reserve Auction
Use a reserve auction to minimize risk, because there is no obligation to sell until the reserve is met.
A reserve auction is:

  • Effective for late models and higher priced vehicles.

  • Popular with sellers with little or no experience selling their vehicle on eBay Motors.

Reserve Price
This is your "must have" price. If you don't get this price, you do not sell.

An example of a "must have" price is the trade-in price that you can get at a dealership (or wholesale price if you are a dealer). This is the minimum price that you are willing to accept. However, setting the reserve price too high may discourage potential buyers.

Starting Price
A low starting price starts your bidding momentum as early as possible.

Keep your starting price low relative to your reserve price. For example, if your reserve price for an item is $100, start the bidding at $10, which is 10% of your reserve price. The low price will attract more bidders and is likely to drive bidding activity immediately while your reserve protects you from under-pricing.

Note: If you've chosen to use a reserve auction format, you may lower your reserve or remove your reserve price during the auction to sell your vehicle quickly.

Using a No Reserve Auction

A no reserve auction is:

  • Effective for older and lower priced vehicles.

  • Effective if you are looking to sell your vehicle in a hurry and getting the right price is less critical.

  • Popular with sellers with vehicle sellers who are more experienced in the eBay marketplace.

Starting Price

A low starting price starts your bidding momentum as early as possible. Each bid results in a winning bid and the final high bid wins the auction.

Using the Buy It Now Price
The Buy It Now price allows you to specify a fixed sale price for your vehicle.

Use the Buy It Now price:

  • To price your vehicle for a fast sale.

  • In a reserve or no reserve auction listing to give your buyers the option of purchasing the vehicle immediately at a fixed price.

  • To show buyers that you are serious about making a deal.

  • Many buyers judge the value of the reserve price according to the Buy It Now price. Setting an unrealistically high Buy It Now price-like a "sticker price"-can scare away potential buyers.

Note: You can always lower your Buy It Now price during the auction to show buyers that you are willing to sell the vehicle immediately for a fixed price. You may also add a Buy It Now price to allow a buyer to end the auction immediately and win the vehicle.

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