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Getting the Drop on Your EBay Competitors

EBay may be the world’s biggest garage sale, but the competition can be tough for almost any product line. So, what can we do to lure potential buyers into bidding?

Ideally, you want to create bidding frenzy. It is possible to beat your competition and walk away with the money without being the least bit unethical.

My point is to remind you of a basic tactic that may get lost in the business of running your auctions and the worry over making a profit. The fact is, starting your eBay auction, or any auction off at a relatively low price point can lead to more sales and sales ending in a higher price. Again, the idea is encourage or seduce buyers into bidding. Starting your auction off at .99 or $1.99 or .89 immediately captures attention because of the low price. For you, starting auctions as such low prices means that your listing fees are low. Keep in mind that you can also set a reserve price. A reserve sets a minimum bid that must be met before the item as legally sell.

Selling low can also help you establish a subscriber list. After payment, buyers are routed to a newsletter sign-up page. Even if you lose a little money or just break even, the list you develop can make that back for you many times over. This strategy takes a longer view, one that goes beyond just the mere selling of a single item.

I want to remind you that if you are selling popular, mass market consumer goods, it is always important to have some idea of the market value and demand for the product and se your prices accordingly. Also, if you are using dropshipping and selling on eBay, it is especially important to remember that hi-demand items with little or no other commercial outlet work best in this environment.

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[tags]ebay,ebay auction, ebay auction prices,dropshipping[/tags]

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