Pricing your items is a tricky business. Price it too high and no one will buy it. Price it too low and you are leaving cash on the table. Here are 7 ways to get your best selling price:
- Do your research. Make sure you aren’t selling yourself short and check to see what other similar items have sold for recently. Search by keyword in Facebook groups or check on Ebay. Be sure to check “sold listings” rather than items currently for sale to find out what the item actually sold for instead of what people hoped to get.
- Don’t be sentimental. It’s natural to charge more for items to which you are emotionally attached. The usual culprits are baby clothes and other children’s items. Try not to fall into the emotional tagging trap. Keep the most precious pieces and detach yourself from the rest.
- Don’t dwell on what you paid for it new. As a rule of thumb, you should price approximately 30% of retail price. Ask a little more for new items and less for used.
- What would you pay for it? Step back before you price the item and think of what the highest price is that you would pay for it.
- Clean it up! Would you be excited about buying a dirty old spider web covered piece of play equipment for your child? Me neither. Take a couple of minutes to wipe it down and sell it for $30 instead of settling for $15.
- Account for shipping, if applicable. If you are selling in a group with members from all over the country, you will likely have to ship to the buyer. Most of these groups require you to post the price including shipping. This will require a little figuring on your part in order to not lose out. Go to USPS postage calculator and enter the weight of your package to find out the price of shipping to the farthest place away from you. Then determine the price you would reasonably accept for the item and add that to the shipping price.
- Don’t waste your time trying to sell things no one wants. Face it, There are just some things that need to be given or thrown away. Post things for free and someone may buy some of your sale items that they would not have driven there for unless they were getting the free item.
It’s your job to make the buyer feel good about what they are paying without feeling like you are giving your stuff away. The above tips will help you find a good balance! Stay tuned for more selling tips!