Ebay question?

Question

When we look at the starting price, why do some sellers us $1.00 as the beginning offer? What is the benefit to that? I was searching for vintage rings and was shocked to find this. Is it a hoax?

Answer 1

People bid the items up. There seems to be a better reaction from bidders when you start low. Don't count on the prices staying low, people go crazy bidding. The benefit to the seller is that the listing fee is less and people tend to go higher and wilder bidding on auctions that start low.

Occasionally, you'll get lucky and find something listed in an incorrect category or just unattractively photographed or something and nobody else will bid on it and you'll get something cheap. Don't count on it though but you never know until you try.

You seem very innocent and inexperienced with online auctions, please carefully read feedback on the seller before buying and examine the shipping charges as well. Be cautious and good luck!

Answer 2

Nope - not a hoax. I've been selling on ebay for several years and it usually is better to start the bidding at a low amount. It gets more interest than starting at what you want for it. It's the "clearance price" mentality that most shoppers have. They feel like they are getting something at a bargain. The thing is, when you sell on ebay, you have to be willing to take the starting bid if only one person bids on your item. Go ahead and bid. You might get lucky!

Answer 3

Usually they expect that bidding will drive the price up. Many sellers will have a set amount (say, $80) that the bidding will have to surpass in order for anyone to actually claim the item. However, I would always check the credibility of the seller, see what reviews they have gotten to see if you can trust them.

Answer 4

A starting price is just that, ebay recommends that you use a low starting price to get people started bidding, and once they start they will not want to stop.

Most sellers on very expensive items will have a reserve price that if you don't meet it, it will not sell.

In other cases, they take a risk it will sell high.

If you start a price at too high, often people won't start bidding

Answer 5

Because they hope the low price will interest more people. Plus, if you're in a bidding war with someone, you might not pay as much attention to the price as you would if it started off expensive. Generally, a low price works in the seller's favor.

Answer 6

we like to start the listing a .99 because eBay charges a listing price based on what your listing price is, they also charge a percentage of the selling price. we find that we get more interest in the product by starting at a lower price.
some of the seller have a cheap buy it now price but gouge you on the shipping, so be sure to look at the shipping before you buy.

Answer 7

The seller could be trying to get rid of overstock really fast.

Or they're moving and feel they could get a better profit by an auction.

Or they enjoy watching the price go up.

Answer 8

Ebay charges listing fees for every auction. The higher your opening bid price, the higher the listing charge. Many sellers list their items at 99 cents to avoid high fees.

Answer 9

You get what you pay for. Starting prices rarely match the reserve price, but they obviously grab attention. Note the shipping and handling costs. Sometimes in a tight market, it is easier to make money there than in beating a competitor's price or in delivering a quality good.

Answer 10

PRICES WILL GO UP FAST TOWARD END OF AUCTION.
PUT ON WATCH ITEM AND YOU WILL SEE..