 |
|
|
Your next step is to determine a realistic price for your vehicle.
Research Your Vehicle's Value
A great way to determine a realistic price is to search for the make/model you
are interested in on eBay Motors. You can then use the Price Research tab to
find detailed pricing information based on past eBay sales, current eBay
listing prices, and industry leading price research data.
Determine a Pricing Strategy
The most successful sellers on eBay Motors choose the best auction and pricing
strategy to meet their objectives. Selecting the right strategy will lead to
more bids and the successful sale of your vehicle. In general, set the starting
price low to attract buyers' attention and drive market excitement. There are
basically four pricing strategies to consider: Reserve Price auctions, No
Reserve Price auctions, Buy It Now listings, and Best Offer listings.
A Reserve Price Auction enables you to set a reserve price, which is the
minimum price that you are willing to accept. This minimizes risk, because
there is no obligation to sell until the reserve price is met.
When should you use a reserve auction?
-
Effective for late models and higher priced vehicles.
-
Popular with sellers with little or no experience selling their vehicle on eBay
Motors.
Tips:
-
Set your reserve price as the lowest possible price that you are willing to
accept.
-
Set your reserve price close to trade-in, as most sales on eBay Motors are
between trade-in and retail. New sellers often make the mistake of pricing too
close to retail; as a result, bidding excitement never gets a chance to start
and their items don't sell.
-
Set a low starting price to create bidding momentum as early as possible.
Listings with high starting prices and an unknown reserve fare poorly on eBay
Motors.
Note: If you've chosen to use a Reserve Price Auction format, you may
lower your reserve or remove your reserve price during the auction to
sell your vehicle quickly.
In No Reserve Price Auctions, any bid at or above your starting price wins the
auction.
When should you use a No Reserve Price Auction?
-
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 vehicle sellers who are more experienced in the eBay marketplace.
Trends to Consider:
-
A No Reserve Price Auction with a high starting price that is equivalent to a
reserve price will receive very few bids until the final hours of the auction.
Bidding rates are generally higher for these types of auctions than Reserve
Price Auctions, but a high percentage of these auctions end with no bids.
-
A No Reserve Price Auction with a low starting price is for the seller who is
comfortable turning a profit based on volume. This method is potentially risky,
because the seller could take a loss if multiple bidders do not drive up the
price. This approach, however, does drive bidding activity and almost
guarantees that the vehicle will sell.
The Buy It Now price allows you to specify a fixed sale price for your vehicle.
When should you 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. If your reserve price is lower than the Buy It Now price, consider
mentioning that in your listing.
Tips:
-
Setting an unrealistically high Buy It Now price-like a "sticker price"-can
scare away potential buyers.
-
You can 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 provided there is a minimum of 12 hours left before your
listing ends. You may also add a Buy It Now price
to allow a buyer to end the auction immediately and win the vehicle-provided
there isn't a winning bid. Learn more about how to revise
your price.
With Best Offer with buyers can offer a price they are willing to pay for your
vehicle. Once your accept an offer, the listing is closed and the buyer is
obligated to pay the price offered. If you agree to review Best Offers, a Make
Offer button displays on your listing page in the same area as the Buy It Now
or Advertised Price.
When should you use a No Reserve Price Auction?
- 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.
|
|
