How do people set their selling prices?

[CNH1974]

Hi folks, I have just sold my first investment set; a 853373 chess set. I listed it for

[Ciglione]

Good question... when my sets are mature enough to sell (read: the brickpickervalue is high enough for me to make profit) I will put the set up at the lowest price. Maybe it is not smart. But I always think to sell faster that way. However, what happened to you can happen anytime. Cause some people maybe do not trust it if something is too cheap. Or, they do not look to long to compare prices and buy the first they see. And maybe this time you were lucky.

[exciter1]

Think of what a sets potential might be and price it as so.  Let it ride...

[anolian]

I tend to look at the previous sold items on eBay. If the set you buy comes with a promo item like the x mas set for the month October i tend to sell the original set for a bit below market value at the time considering the promo set will also sell and will you will still make a good profit.

[KShine]

You can always accept a lower offer for an item - it is much harder to ask the buyer to send you more $

 

If you sold it quick - you priced it too low.

[Guest TabbyBoy]

Hi folks, I have just sold my first investment set; a 853373 chess set. I listed it for

[tractorboy]

^^ Looking at the sold listings, it looks like he sold it for 70 plus 25 for shipping. Assuming he paid the full 40 pound RRP, I make that 23 pounds profit after fees.

 

I don't understand why people factor in the shipping as you did there? I don't pay for shipping when I buy a set, and I don't pay for it to be shipped to a customer, so why factor it in? Unless you're offering free shipping.

[Marzipan]

Always remember ebay and paypal take about 13% commission on the selling price AND the shipping price listed.

[CNH1974]

All good thoughts. I think I was lucky to sell it so quick. BIN seem to be a bit pot luck. I sold a vintage space set in 39 mins on Saturday. Yet a castle set at half the price is sticking.

At

[justafrog]

The question is do you want a fast nickle or a slow dime? 

 

I am generally content to set my prices on eBay at a bit about average on most things, and sometimes well above average if it's something I am confident hasn't reached its top price.

 

If you need cash, the fast nickle may be more appealing. If you can wait, the attempt at the slow dime (knowing you can drop the price to the fast nickle at need) may work for you.

[CNH1974]

The question is do you want a fast nickle or a slow dime? 

 

I am generally content to set my prices on eBay at a bit about average on most things, and sometimes well above average if it's something I am confident hasn't reached its top price.

 

If you need cash, the fast nickle may be more appealing. If you can wait, the attempt at the slow dime (knowing you can drop the price to the fast nickle at need) may work for you.

That's what I have been working on for these sets. And some of the vintage ones I sell. As you say, I can always add a best offer later on.

But I have learnt that bin does not work for selling small parts from PAB tubs. That dime is too slow :)

[redghostx]

I research items before I am going to sell and decide if I want to sell it quickly or sell it at my price.  Most times, I choose the latter but there is the rare time where the quick sale is better (a specific example is that I bought something at 130us and sold it for 416us after fees, I will take that rather than price it higher and wait - that profit can be instantly reused).

 

You state that you are in no rush to sell so list at the price that will make you happy, not the price that will sell quickly.

[bassbin]

I've got some of the same sets for sale and think your prices are fine. I sold a 10193 MMV for

[terrymc4677]

So how do people set their prices when selling their investment sets?

[tractorboy]

When buying or selling I always factor in the postage cost. Do you only buy stuff with free P&P ? And deliver your items yourself?

As it happens I did offer free P&P knowing it would be about

[CNH1974]

Yeah, I only buy sets that are shipped free, mostly from LEGO Shop at Home or Amazon, occasionally Pixmania, TRU or Smyths.

I've bought a few things that I've paid shipping on if it's a bargain price or hard to find, but it's very rare.

No, I don't deliver them myself obviously, the customer pays the shipping if I'm selling on ebay.

 

I was just wondering why Tabby Boy assumed you paid for the shipping. I know some people on here like to offer free shipping in their ebay listings. Seeing as you said you sold it for 70 and never mentioned shipping, I figured you didn't factor it in for the same reasons I don't.

Tabbyboy and I know each from here earlier. He's pointed me at a few deals. I used to follow his eBay listings.

I have no problem with paying postage as I always have a total price I will pay. I once bought a USB stick years ago, for

[bdoubleg]

Just to change the tack slightly - do most people list there items as Buy it now on ebay or do you list as an auction? I previously started my auctions at 99p but lately have been missing targets. Are the sold prices on this site based on BIN prices and actual sales. Also what are peoples feelings on selling via Amazon. How to fees compare? Any other sales tips appreciated. Finally having to sell some stuff in bigger quantities as space limits have been breached!!! 

[Young_Gun21]

If you want get the price your looking for list as BIN w/ Best offer. Auctions are sketchy because you sometimes get lucky but most the time you sell for less than you wanted. Amazon fees are 15% but you can't sell during holidays if you didn't sell so many items in September/October. Selling is the other side of the investing/reselling market that most people hate. Have fun selling stuff and it won't be a drag.

[CNH1974]

Just to change the tack slightly - do most people list there items as Buy it now on ebay or do you list as an auction? I previously started my auctions at 99p but lately have been missing targets. Are the sold prices on this site based on BIN prices and actual sales. Also what are peoples feelings on selling via Amazon. How to fees compare? Any other sales tips appreciated. Finally having to sell some stuff in bigger quantities as space limits have been breached!!!

There seems to be two schools of thought here. Some people say BIN is the on,y way to go. I have experimented with it, but it is a lot slower way to sell. The trick is price it right. I tend to look at the past selling prices to get an idea. See what people are paying for a set and how often. If you are not in a rush to sell, start high and work your way down.

One place where BIN does not seem to work, at least for me, is with PAB pieces they just will not sell. Except grey 2x2 tiles, they go quite well all the other pieces it am auctioning off but it's a slow process as I can only do them one at a time.

[justafrog]

There seems to be two schools of thought here. Some people say BIN is the on,y way to go. I have experimented with it, but it is a lot slower way to sell. The trick is price it right. I tend to look at the past selling prices to get an idea. See what people are paying for a set and how often. If you are not in a rush to sell, start high and work your way down.

One place where BIN does not seem to work, at least for me, is with PAB pieces they just will not sell. Except grey 2x2 tiles, they go quite well all the other pieces it am auctioning off but it's a slow process as I can only do them one at a time.

 

eBay's not generally a great place to sell parts. That's what Bricklink and Brick Owl are for.

 

Bulk unsorted does well, and when we were selling small group lots of bricks and plates and tiles and such we did okay (using BIN, I loathe auctions as a seller), but the parts venues are just better if you want to be a parts seller.

[anolian]

I always do buy it now with best offer. I have posted many in the past as auction. All of them did less then I expected. If u have a set price you want to buy it now. The bin always sells you just need to do your research and price it right. You dont really need to do any research for auction just post it and prey to the lego gods it sells well.

[CNH1974]

eBay's not generally a great place to sell parts. That's what Bricklink and Brick Owl are for.

 

Bulk unsorted does well, and when we were selling small group lots of bricks and plates and tiles and such we did okay (using BIN, I loathe auctions as a seller), but the parts venues are just better if you want to be a parts seller.

 

I have come to that conclusion.

 

I don't really have time to set up a Bricklink store and I have only just got my head around the site for buying purposes - have made my first purchases in the past week. It's very old school, I am trying to remember how the internet worked 15 years ago

 

 

I always do buy it now with best offer. I have posted many in the past as auction. All of them did less then I expected. If u have a set price you want to buy it now. The bin always sells you just need to do your research and price it right. You dont really need to do any research for auction just post it and prey to the lego gods it sells well.

 

Recently I have been researching selling prices of the larger sets and using BIN if they are complete - this is for the vintage sets I sell. If they are not complete or small sets, I tend to use auctions. This also keeps some inbound cash flow going.

 

For my investment sets I will only use BIN.

[macdroid]

As I see it, auction makes only sense if you are in a hurry or if you want a steady income, but for investment sets, the best is BIN.

[bdoubleg]

Thanks for all the advice - any experience with Amazon? 

[justafrog]

Thanks for all the advice - any experience with Amazon? 

 

More expensive than eBay; less changes (by far) to the basics of selling than eBay; better sales than eBay if you have a combination of depth of specific inventory items and lowest priced; more stringent than eBay on seller metrics and performance.