Start by listing your item as an auction or for a fixed price for 7 days (use information from Terapeak to guide your decision). Terapeak has a chart that tells you the average price of the item on auction, or fixed price, so you can see historical data on which method brings a higher price. A 7 day listing helps you because it allows your item to come up higher in eBay searches - a lot of people sort by “ending soonest” on eBay. Also, that item has not been on eBay yet, so you may get a taker within the first week. But, don’t automatically relist your product for 7 days when the listing ends. This will only start the process of being found by search engines all over again.
If your item doesn’t sell after 7 days, try a 30 day fixed price listing for the same price. If someone is watching your item, eBay will send them an email informing them it’s been relisted. Plus, one of the benefits of a 30 days listing is that it gives search engines a chance to index your listing. There isn’t time for that when you use a 7 day listing. Don't assume your price is too high. There is nothing magical about a 7 day listing. If your item doesn't sell within 7 days, it just means the right buyer hasn't seen it yet. If you had your home on the market and didn't get an offer in 7 days, you wouldn't automatically drop the price would you? Of course not.
After your 30 day listing ends, try to list it one more time. You can also change it to “good till canceled” if you’re willing to just let it sit. If the item still hasn’t sold after 90 days, it’s time to add Best Offer to your listing. Because you’ve had the product for a while, you should consider negotiating in order to sell it. This should be your last resort though – after all, you want to make as much profit as possible.
How long should you leave an item on Good til Canceled? That is a personal decision. Much of this depends on how much profit you stand to make. Examine the number of page views on the item? Is it being looked at? If page views are very low, consider marking the item down to what you paid for it plus a small amount for fees, and move on. I personally don't like to accumulate too much inventory, especially if buyers aren't even looking at it.
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