Question: What Should My Starting Bid Be?

Do bidders see the reserve price?

A reserve price is the lowest price you’re willing to sell an item for.

Bidders can’t see the reserve price, but they’ll see whether it has been met..

Do you have to pay reserve fee if item doesn’t sell?

The reserve fee is part of the insertion fee and charged whether the item sells or not. To avoid paying the reserve fee, list your item with a stating price equalling your reserve price. Don’t start a listing at 99 cents with a reserve.

What are the rules for a silent auction?

Rules For Silent AuctionsBy bidding in Your Organization’s silent auctions, each bidder agrees to these auction rules.All sales are final. … The auction item value listed is an estimate of fair market value. … Restaurant certificates do not include alcohol, tax, or gratuities unless specified.More items…

What should I start my bid at on eBay?

Determining Your Opening Bid on eBaySet the starting price at $1–with no reserve. There’s been much talk about the attraction of starting your items at just $1. … Start the bidding at your cost. A more popular tactic is to start the bidding so the opening bid will cover your investment in the item. … Start the bidding at a discount price.

Can you ask a seller on eBay to lower price?

If the seller is willing to sell for less, there will be a “make offer” button on the listing. Otherwise you have to use the “ask a question” link on the listing and ask if the seller will lower the price but not all sellers will happy about receiving that kind of message.

Is the reserve price the same as buy it now?

On eBay, a reserve price is the minimum price the seller will take for an item, while a Buy It Now price is a set price you can buy an item for. A listing with a Buy It Now option does not mean that the bidding has a reserve price, though the two features can be used together in one listing.

What items sell best at silent auctions?

Top 20 Best Selling Silent Auction ItemsAuction Item Description% Above Fair Market ValuePopular home accessories480%Fine dining restaurant certificates330% – 460%Lottery ticket boards460%Weekend hotel packages460%11 more rows

What should starting bid be for silent auction items?

STARTING BIDS: Starting bids depend on whether the item was donated or is being offered on consignment. Donated Items: For donated items, the starting bid should be 30% of the fair market value (FMV) of the item. For example, if an item’s fair market value is $100, you should start bidding at $30.

What is the difference between starting bid and reserve?

While the reserve price is the minimum price a seller is willing to accept, the opening bid is the amount suggested to start bidding. Bidders are not obligated to accept the opening bid, and if an item receives no bids, the auctioneer will lower the starting/opening bid price.

What does $1 reserve mean on trademe?

$1 reserve auctions are great when you’re happy to let buyers decide what your item is worth. Discount applies to success fees only, any other applicable listing fees still apply. Relists are included, but only if your item is relisted on the day of the promotion (8 June 2019).

Should I reveal my reserve price on eBay?

Re: I’ve been asked to disclose my reserve price No, that’s not the case. It’s to prevent the item from being sold for any less than the Reserve. There’s no reason at all to keep it a secret.

How is auction price calculated?

The auction price is taken at the lowest price offered in the auction. The highest price would be not more than 20% and not less than 20% of the closing price of the T+1 day i.e. the previous day prior to settlement day. If the shares are offered, the shares are given to the buyer of the shares on T+3 day.

Is it better to auction or fixed price on eBay?

When you want to sell items for a consistent amount each time, fixed price listings are definitely the better option. There are no surprises because the price you list is the price it gets sold at.

Do eBay sellers bid up their own items?

Answers (1) Of course sellers can bid on their own items if they cheat – they can even get a friend to do it. … I lost the bid to them and about a day later I saw the same exact item for sale again. Someone could have retracted the bid and not paid, but that is not very common either.

What is starting bid?

The “starting price” of an auction is the lowest possible bid that the first bidder may place. The amount is indicated when you place a bid.

What happens if Ebay bid is too low?

Even if you get just one bid an the items sells for the opening bid amount, it is considered Sold and if you refuse to ship it you’ll get negative feedback. … Never list an item for less than you’d be willing to sell it for unless you’re 100% certain that it will attract enough bidders to drive up the price.

Can I refuse a bid on eBay?

If you need to cancel a bid: Go to Cancelling bids placed on your listing – opens in new window or tab. Enter the item number, the username of the member whose bid you’re cancelling, and the reason you’re cancelling the bid. Select cancel bid.

What happens if reserve is not met?

A reserve price is the minimum amount the seller is willing to sell an item for. If the reserve price isn’t met, the item won’t be sold. … If you bid below the reserve price, you’ll see a “Reserve not met” message. This means that even if you’re the highest bidder at the end of the auction, you won’t win the item.

What happens if someone bids over the Buy It Now price?

When someone bids, the Buy It Now option usually disappears; however, in the case of reserve price listings, the Buy It Now option remains until the reserve price is met.

Is it better to auction or sell on eBay?

The best time to list as an auction is when you have an item that is hard to find and is in very high demand. … Some collector’s items do well at auction, while others do not. Do some research on eBay and see how much similar and sold collector’s items are going for before you send them to an auction.

Is it better to start bidding low on eBay?

Here’s what Galinsky found when it came to starting prices on eBay auctions: … Thus, lower starting prices remove the price barrier to entering the auction, allow for more early bidders, some of whom get trapped into the auction, all of whom attract more bidders.