If you read my post, "Watchers Not Buying - Try This Strategy" you may be interested in a little experiment some members of my Facebook group did. Several members raised their prices on some eBay items, and that action resulted in sales. I was curious to see if there are any patterns when it comes to raising prices - does it work better on certain items, in specific categories, or the amount the price was raised. You be the judge.
Here are a few examples, so you can see the actual sales.
Alicia had this American Girl art set priced at $29.95, it had 6 watchers but was just sitting. She raised it to $38.95 and it sold in 3 days.
Magi has this Ralph Lauren golf shirt listed for a couple of months at $74.99 or Best Offer. She had received a couple low ball offers but it hit 10 watchers. Having seen the previous threads about this she bumped the price up to $79.99 and to automatically accept $59.99. The next day it had sold for $60.
Laurie's listing for these John Fluevog shoes was not a fixed price listing, it was an auction item. She started it at $49.99 and within the first day had 20 watchers but no opening bid. SheI raised the price to $79.99 and got a bid on it within hours. It ended at $90.99. of course she doesn't know if raising the price helped the ending price but it did get bids.
Tracie raised the price on this Right Start Mathematics set from $39.99 to a $54.99 and it sold within hours.
Have you raised a price recently that resulted in a sale? If so, post it in the comments below. Remember as a seller you have the power to change your price in any direction, not just lower.
I had this sweater at auction starting at $7.00. It kept getting views and had two watchers. I raised the starting bid to $10.00 and got a bid right away. It did only get one bid so I'm especially glad I raised the starting bid so I at least got 10 for it instead only 7. :)
ReplyDeleteHi Suzanne,
ReplyDeleteThanks for sharing :) This is a really interesting experiment. I wonder what the psychological effect a price rise has on a watcher? Perhaps they think that the price may continue to rise.
Once again, thanks for sharing. Very interesting stuff
I think people may be inclined to purchase b/c they assume that the value is on the rise, and the seller knows best... possibly :)
ReplyDeleteI just raised a few auction prices, lets see what happens.
ReplyDeleteI'm going to try a raise a few prices not by much just to see what happens, nothing ventured nothing gained.
ReplyDelete