|Mon June 23 2014 08:29:18|
eBay Recommends Sellers Start the Bidding Low
Last evening my husband listed several items for auction on eBay, and when I logged in this morning, there was a message saying that they had price recommendations for 2 of the 11 items. When I clicked over to see what they suggested, I was surprised to see what prices they deemed appropriate.
For an ancient Roman silver coin, they suggested a starting bid of $1.00 instead of the $55.00 we used for the listing (which, by the way, is a very reasonable price for that coin), and for another heavy (20th century) silver coin, they suggested $9.50 instead of the $27.00 we used.
We do not have reserves on our auction, so if we followed their recommendations we would lose a lot of money if the coins sold.
Does anyone have any idea what criteria eBay uses to select items for their recommendations & what possible rationale they have for the prices they suggest? I know they need sales, but the fee they would get for a $1 sales is negligible, so wouldn't they be happier if the coin sold for $55?
I know that there are sellers on eBay who have dubious pricing strategies, either because they are clueless about the item's worth, or perhaps they have delusions of grandeur, but he has been in the business for many years and prices the items based on the knowledge gained over a long period of time.
I currently sell my jewelry on Etsy and Bonanza and was thinking of giving eBay another try, but these tactics are yet another reason I have not jumped back into the eBay waters. I'd love to hear from you and your readers on this perplexing topic.