This sells for a million-jillion dollars on Ebay!!!!!!!!!!

We often hear unlikely claims such as this as Ebay becomes more and more of a household name. At flea markets, thrift stores, and garages sales it is ever more likely to find Ebay listing pages printed and displayed along with various items which are offered for sale. It is almost always the highest priced item in the category and well beyond any reasonable expectation of actual value. Often, the item did not even sell, or is active without bids.

We have noticed that more and more people are using Ebay as a tool to determine the value of an item, and in most cases, this information is based on a failure to understand Ebay as a marketplace.

So what determines the final bid price of an item? Below is a list of factors that we have observed in our experience on Ebay that play a role in deciding the price of an item.

Condition: Ebay is a vast marketplace and very few items are so rare that buyers will spend a significant amount to acquire something regardless of condition. Most bidders understand that a little patience can be rewarding by providing them with an opportunity to bid on a item that is in superior condition to most that are available.

Keywords: The keywords a seller uses impact the number of looks an item receives. As a general rule, the more looks an item gets, the higher the final bid price. Sometimes the inclusion of a single keyword can generate more looks and subsequently increase the number of bids an item receives.

Ending Time: The day and time that an item is ending can significantly alter the final bid price of an item. Time periods when greater numbers of people are online are better than periods when fewer people are online. For example, 4:00 in the morning on a Saturday night would probably be a less successful choice as an ending time, compared to 4:00 in the afternoon on a Wednesday.

Time of Year When Listed: Retail spending fluctuates throughout the year. For example, there are periods when spending in the service sector of the economy increases and, since most consumers have a limited amount of expendable income, this increase can cause a decrease in expenditures in other areas. Also, holidays when a large number of potential consumers are traveling can be a poor time to list a high value item.

Starting Price: Typically, the lower the starting bid of an item, the more interest it will generate. This can also lead to a competitive spirit among buyers, which may create a bidding war among 2 or 3 individuals who are determined to win at any cost, even though other, identical items, are available for a lower price. At the other end of the spectrum, an item which is listed at a very high price may sell with a single bid.

Feedback of the Seller: Sellers with low percentages of positive feedback can expect to have lower final bid prices. Bidders tend to feel less secure spending large amounts of money on items offered by sellers who have a history of unsatisfied buyers. The same can be said of sellers with few feedback, even if the percentage is as high as 100%.

Shipping Costs: Falsely inflated shipping costs are a major deterrent to bidders. For example, a item which weighs less than a pound should not cost more than a 4-5 dollars even for priority mail shipping. Some sellers attempt to offer a lower starting bid combined with an inflated shipping cost to generate interest while still protecting their investment. This may result in more looks, but usually results in fewer bids. Many people feel that the inflated shipping cost shows a certain amount of dishonesty on the part of the seller, and are therefore less secure with any claims of condition, value, or provenance of the item.

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