How to price an item on ebay?[LoginRadius_Share]
You might be a new seller or someone who is recent to the online selling sites. You are ready to list your items but you do not know what to price them for. If you price them for too little they may sell fast, but you may also lose your chance at getting a higher profit.
The first thing that you will need to do to determine your pricing is some item research.
- Type in the name of your item into the ebay search and browse the results.
- Go To filters and specifications Section -> Select the sold listings option.
This will change the list of items to tell you only what your item has recently sold for, and this is valuable information is crucial.
It not only tells you if it has sold, and the price, but it also lets you the frequency of sales for that product. Furthermore, this option gives you the price fluctuation of the product in the ebay market.
For Ex: You may want to list a popular item for sale and you check the sold listings. The listings may show that the item sale 5 time per hour at $30, and only once per day at $45. You may also see that the price has fallen overtime from $50 a month prior and is now selling comfortably at the rate of $30.
The value that this provides is potentially faster sales and lower turnover time that your items spend on your shelves.
The Drawbacks with This Method
If you’ve ever looked up items in the ebay app while you are sourcing items to resell, you may take up a ton of time looking at each item. When you get home with your researched items, to your horror, you find that your calculations were off, because while you’re out there sourcing, there are lots of distractions, and you can easily mistake numbers, or miss subtle differences between whats in the ebay app and whats in your cart.
If you have a backlog of things to list, you’ll try your best to remember the price of the items that you researched, but after a day or two, your memory during the brief moment that you spent on those items may be hard to recollect. Most Seller end up having to do the same research again, and do the same calculations just so they can list their items so that they are priced to sell quickly.
Spring Cleaning takes on a new meaning when you are working on cleaning out your inventory stockpiles as your items are selling and are super longtail. You may wonder to yourself: “What was i thinking when I bought this”, as you send off your investments to donation or the rubbish bin.
Although we mainly help with ebay Listing service; we understand how important it is to source great items, so that you can ensure that they sale. It’s for this reason that we created Swank.
Swank Is an app that ranks items based on profit and sales frequency.
How it Works:
An item’s Swank Score is influenced by a number of factors including most recent selling price and average turnover time. The closer the Swank Score is to 100, the more profitable the item.
0-20 = Not Recommended/Use your own Judgment
20-39 = Acceptable. Longer Turnover and Minimum Profitability
40-59 = Average Turnover and Good Profitability
60-79 = Faster Turnover and Great Profitability
80-100 = Extremely Fast Turnover and Excellent Profitability
Swank is great at detecting bad buys. Anything that is above 20 is generally acceptable to resell, which helps you to source the good buys, and leave the bad flips at the store.
Make Wiser Buying Decisions
Swank stops you from losing money on common profit pitfalls & dumb purchases. With Swank, It takes only seconds to evaluate potential flips.
Know How Often Items Sell
There’s no need to guess which items are Fast Nickels or Slow Dimes anymore. Turnover rate lets you know when to expect your return on investment.
Source Items At The Speed of Scan
Don’t want to type? The Barcode Scanner makes checking Swank even faster. Spending less time typing gives you the time to enjoy sourcing and the focus needed to find better flips.