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 Post subject: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 6:56 pm 
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Location: Decatur, AL, 35601
All-

Why do some vendors price items at 5 to 25 times the actual amount they are selling for. Nothing special about the listings, just a high price. For example a while back I saw a HP 5335A listed for about 10K... really? Some are "Make Offer" but others are only "Buy it Now." I've checked and can find no instances of anything in the sold listings although I can't imagine that they sell often enough to show up there. While I've seen this question asked, I can't remember ever seeing a answer that did not include a lot of "I guess'" and "maybe's" I tried - very politely - asking a couple of them their reasons but unsurprisingly received no answer. I can kind of understand the ones that try to bust the nut with the shipping but that pales in comparison to some of the ones with the inflated sales prices. So, does anyone have any insight here?

Hal


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 7:53 pm 
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Location: 18424 PA
Do you mean eBay? Why not?


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 7:59 pm 
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Location: North Providence, Rhode Island
They throw a price at the wall and hope it sticks! I private message them and offer a realistic price, now worried about insulting them as I see if my offer will stick.

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 8:28 pm 
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Joined: Oct Mon 02, 2017 8:53 am
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Location: Panama City, FL 32401
Right now there's a Zenith Royal 500D that's been listed for probably a year. In the top middle someone installed a toggle switch, so I'm guessing the volume pot doesn't shut off. It looks discolored, knobs are dirty, and the seller wants $169. Would you believe 21 people are currently watching? Probably to see if it eventually sells. The ad claims it works. He should be asking $25 at the most. I don't know what people expect.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 8:40 pm 
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Location: North Providence, Rhode Island
I watch radios just to see if they sell, I guess it falsely gives the seller hope it is going to sell but I’m curious. Watched a Polle Royal 3 dialer for over 2 years, they were asking $300 for a $50 Radio just because it had the tubes!

Len

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 21, 2020 8:54 pm 
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Location: 13 Critchley Avenue, PO Box 36, Monteith Ont, P0K 1P0
HalFoster wrote:
All-

Why do some vendors price items at 5 to 25 times the actual amount they are selling for. Nothing special about the listings, just a high price. For example a while back I saw a HP 5335A listed for about 10K... really? Some are "Make Offer" but others are only "Buy it Now." I've checked and can find no instances of anything in the sold listings although I can't imagine that they sell often enough to show up there. While I've seen this question asked, I can't remember ever seeing a answer that did not include a lot of "I guess'" and "maybe's" I tried - very politely - asking a couple of them their reasons but unsurprisingly received no answer. I can kind of understand the ones that try to bust the nut with the shipping but that pales in comparison to some of the ones with the inflated sales prices. So, does anyone have any insight here?

Hal


Insight ... sure ....

Not all sellers are as desperate as the buyers wish they were. Some don;t mind waiting around for a good high price. The philosophy can have a couple of motivating drivers behind it.

1) they don't "need" the money and if they sell half as much for twice the price, they make the same money for half the work.

2) eBay is not a seller ... it's an advertising platform. If you advertise an item at a really high price knowing it won't sell, and knowing the some buyers don;t mind working behind the scenes, then you get to advertise world wide for the price of an auction listing.

Not all eBay sellers are complete dimwits ....


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sat 22, 2020 2:55 am 
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Location: Ohio 45177
Obviously, a substantial percentage apparently are.....

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sat 22, 2020 7:07 am 
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HalFoster wrote:

Why do some vendors price items at 5 to 25 times the actual amount they are selling for.

So, does anyone have any insight here?


Of course nobody can give a fully accurate answer, but it would seem that -at least when dealing with "antique" collectibles- many sellers who aren't into the hobby and are unaware of sold prices, simply throw a number out there as the opening bid or BIN amount. No rhyme or reason, just a hope that it'll fetch their imaginary valuation. And God forbid if you should insult them by messaging with a suggestion of the actual value. Now you're trying to low-ball them, right? :wink:

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sat 22, 2020 1:40 pm 
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Location: 13 Critchley Avenue, PO Box 36, Monteith Ont, P0K 1P0
wazz wrote:
Obviously, a substantial percentage apparently are.....


umm, no. It's not "obvious", but it certainly is a conclusion that you could speculate about. Unless you know the seller you can't know with any certainty what the seller's goal is, so .... "obvious" might be an opinion that you came to based on your own biases and preconceptions.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sat 22, 2020 3:35 pm 
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Location: Boston, MA
There is a simple solution if you see something that you feel is overpriced on Ebay: look elsewhere.

The seller is not under any obligation to list something at a specific price point. If the seller eventually finds a buyer willing to pay the price, then the seller likely got what they wanted. If not, the listing will either end with the seller keeping the item, or the price will come down. If that's not what the seller wanted, it's not our problem to worry about it.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sat 22, 2020 5:37 pm 
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Joined: Feb Sat 10, 2018 4:58 pm
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HalFoster wrote:
Why do some vendors price items at 5 to 25 times the actual amount they are selling for.

Perhaps in some cases, for the very same reason phone scammers call relentlessly with scams: Someone, somewhere, for whatever reason, may respond (perhaps accidentally or due to some impaired state) and then, "Ka-Ching!". When your "audience" is the entire world, even an extremely low response rate can bring tidy profits.

-Bryan


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sun 23, 2020 7:25 am 
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Joined: Jun Wed 10, 2015 5:45 am
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Location: Lolo Montana
Quite a few years ago when E-bay charged you for listing your items it seems people were more realistic with their starting or Buy it now prices except for a large handful of sellers and now days some of the prices seem to remind me of half of the Market place and Craigslist sellers asking prices because the listing is free and of course as mentioned earlier they have no idea what to ask.

Kent.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sun 23, 2020 7:40 pm 
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Papa Kent wrote:
Quite a few years ago when E-bay charged you for listing your items it seems people were more realistic with their starting or Buy it now prices except for a large handful of sellers and now days some of the prices seem to remind me of half of the Market place and Craigslist sellers asking prices because the listing is free and of course as mentioned earlier they have no idea what to ask.

Kent.

I think that's a very good point. Nowadays they have no skin in the game, and can list a starting bid or BIN price with abandon.
Notice also the very few hidden reserve auctions, vs the old days. I would believe it's because sellers still have to pay for that feature.

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Sun 23, 2020 7:54 pm 
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Location: Lolo Montana
You are correct Fifty's , Except I believe since adding a reserve now days costs the seller a percentage of the reserve amount which they had raised very high a few years ago. I listed a radio with a reserve somewhere around $400.00 and the reserve ( Listing fee) was around 10%.

Kent.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Mon 24, 2020 2:38 am 
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Joined: Oct Fri 28, 2016 7:40 am
Posts: 69
Location: Washington, DC
I have noticed this too. And, with things that are available in quantity from other sources at the same time. Why, I thought, would anyone pay 5 times more than they needed to buy a thing they don’t really need (collectibles are a need, not a want)?

I asked a friend of mine who has a side gig buying stuff in the real world and selling on eBay. And my brother, who also sells a lot of collectible stuff for a living. None of the guesses they came up made any sense really.

The most plausible scenario I can come up with is that it’s just lottery-thinkng. The seller in many cases may not even have the product. But, if you offer them 5x what it’s worth, they can sure enough buy one off the market for whatever it takes and ship it to fast. If that doesn’t work, they just refund you your money and offer some lame excuse.

For a one-off collectible that doesn’t take up too much room (like a book), I have seen people do the same thing with stuff they actually do have; list it for 10x what it’s worth (based on past sales) on the off chance that one person will become desperate enough to pay anything - the tiny amount of shelf-space taken up by the thing in the meantime costing them next to to nothing.

It’s legal...


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Mon 24, 2020 6:39 am 
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There is at least 1 seller that list the same old things week after week with the same high starting bids. They haven't sold anything in at least 3 months. You would think that it would be easier to list everything as BIN, but I guess that they want the items to keep going to the top. So far their strategy doesn't seem to be working.
On Amazon you might see a wide range of new and used prices for the same item. One or more sellers might have a price way above all of the other prices, maybe even used for more than a new one. Usually these are under the "collectable" moniker. I suppose that their theory goes that someone will be forced to pay the high price when all of the cheaper ones sell out. :roll:

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Mon 24, 2020 1:42 pm 
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Number 6 wrote:
There is at least 1 seller that list the same old things week after week with the same high starting bids. They haven't sold anything in at least 3 months. You would think that it would be easier to list everything as BIN, but I guess that they want the items to keep going to the top. So far their strategy doesn't seem to be working.
On Amazon you might see a wide range of new and used prices for the same item. One or more sellers might have a price way above all of the other prices, maybe even used for more than a new one. Usually these are under the "collectable" moniker. I suppose that their theory goes that someone will be forced to pay the high price when all of the cheaper ones sell out. :roll:



It gets frustrating when there is something I want and the price stays at double the market. We are so far apart that I don’t bother to make an offer.

Ed

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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Mon 24, 2020 2:40 pm 
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Joined: Jan Thu 01, 1970 1:00 am
Posts: 9144
Location: 13 Critchley Avenue, PO Box 36, Monteith Ont, P0K 1P0
K4YDO wrote:
We are so far apart that I don’t bother to make an offer.
Ed


What have you got to lose ??


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Mon 24, 2020 5:04 pm 
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Location: Houston, TX
Sellers wouldn't be doing this if it ate into their profits. I'm sure they would ask reasonable prices if they were made to pony up the dough for a listing fee on items they weren't going to be able to sell at excessively high prices, unless the seller is simply nuts and enjoys losing money.

There was a time when you could report a seller for charging excessively high shipping prices. This started after eBay got wise to seller fee avoidance, posting low prices for the item and making up for it by charging insane shipping fees, since at that time eBay wasn't charging a percentage of final shipping cost. They fixed that, of course, with a final everything fee, which led to even more whining from sellers about even more fees. :lol: What did they expect? They use loopholes and tricks to stick it to eBay, eBay doesn't like it, they fix it, and now sellers can't use those tricks anymore. Is anyone surprised by the end result?

Imagine the fallout if eBay started charging listing fees based on how likely an item was to sell! I'm sure they could come up with another screwy algorithm for this. It surely would save server space. :D

Seems to me that eBay could somewhat fix this, if they aren't already using this method, by demoting an item (e.g., shoving it deeper into search results, making it harder to find) that hasn't sold in x number of attempts, making it even less likely to sell and just linger, seen by fewer and fewer people, unless the seller makes the item more appealing in the first place, which may just be via asking a reasonable price in the initial listing. So that the seller isn't permanently punished for the same item, eBay could allow the seller to relist after say a week or two (or month or more) of not relisting it, and after this period, the item wouldn't be demoted when again listed.
Or, how about eBay automatically reducing the asking price by a certain amount/percentage from the original price, with each relisting? But I think they did that with the marketplace, 5% was it? meh.. they've probably tried most things by now..

If I were eBay, I wouldn't want items lingering on my server, consuming storage space, with little hope of selling. I would want items to SELL so I could profit from it.


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 Post subject: Re: Logic behind ePay seller pricing
PostPosted: Feb Fri 28, 2020 12:26 am 
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Location: Yorba Linda, CA 92886
I sell a lot of radio related items (mostly tubes) on ebay. My pricing structure is as follows: 1) I have to determine what I have invested in the item. Big sellers are not selling items that they got for free. 2) I look at the recent sales and try to average it out. 3) Sellers need to make sure that they are not selling junk. It will bite you in the ass every time. 4) After a sale, my business model is to make an average of 50% profit.
As a top seller with a 100% feedback rating over 1500 sales, my ebay charges average about 8.6% of the sale. My Paypal expense is 3.9% plus $0.35. I ship 90% of my items free. I have to buy shipping supplies which in my case averages around $0.90 per sale.
So, after you source the item, clean it, test it, package it, ship it and then you have to keep your fingers crossed that your customer is satisfied. Then occasionally you have a buyer, that is not reasonable and you have to deal with it. If you are not making at least a 50% profit after expenses, you are just trading dollars.


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