How to Sell Expensive Items on eBay

Selling expensive items on eBay is really no different  than selling low cost items. Essentially, no matter  what you are selling, it all comes down to how you  market the item. This doesn’t mean you have to  surf around the Internet placing ads here and there –  when it comes to eBay auctions, the marketing is  all done at the eBay website. Basically, when you  set up your auction, you are setting up an  automated marketing campaign.

First, you must determine what the value of your  item is, in three different ways. This will help you  determine what your reserve price is. On eBay, the  reserve price is the lowest price that you are willing  to accept for your item. First, have your high priced  item evaluated to determine what the actual market  value is. Next, research similar items from past  auctions at eBay to see what price those items sold  for. Finally, determine what the value of the item is to you. With this information, you should be able to  determine the lowest amount you are willing to sell  the item for.

Set your reserve price, and then set your opening bid  price lower than $50 – no matter how high your  reserve price is. This is a marketing tactic. It will be  hard to attract potential buyers to an auction for an  item selling for hundreds or thousands of dollars –  but getting them to an auction where the opening  bid is only $50 is quite simple. Remember, you don’t  have to sell the item to anyone who bids less than  your reserve price – unless you choose to do so at  the close of the auction. This method of price setting  resembles marketing gimmicks used by offline  businesses that are simply designed to ‘get customers  in the door.’

Work hard on the description for your listing. Use  words that really describe your item well. Provide as  many details as possible, including details that prove  the authenticity of collectible items. Include pictures  of the item as well. Do not try to deceive potential  buyers! If the item has marks or scratches, simply  be honest about it, and make sure that the pictures  convey this as well. State how the item will be  packed and shipped. Also let potential buyers know  that shipping insurance must be purchased as well  – in case the item is damaged once it leaves your  possession.

For higher priced items, most eBay buyers feel more  comfortable using an escrow service. Offer this as  an option in your auction, with the understanding that  the buyer must pay for the service. This protects both  parties from fraud, and it makes many buyers more  open to spending the money to obtain the item.  eBay has partnered with an escrow service that is  commonly used for high ticket items.