How to Make Money on eBay Selling High Ticket Items
Basically speaking, there is not so much difference between selling low-end and high-end products on eBay. But there are several important strategies and tweaks that you should be aware of and implement when selling high-end items on eBay. Here is a proven way to go about it.
Hi End Product
You should first evaluate the value of your product. Start by asking yourself what the actual market value of the product is. Then look at past auctions selling similar items on eBay and see at what price they sold. Once you have this data, you should be able to determine the reserve price for your auction listing. This is basically the minimum price at which you are willing to sell your product.
Once you have determined the reserve price of your item, it is time to set the auction itself. Regardless of the reserve price you set, it is wise to set your opening bid price to not anything more than in order to attract potential buyers to bid for the item.
This is a killer marketing strategy and there is absolutely no reason why you shouldn’t implement it considering the fact that you won’t sell the item at anything less that your reserve price, unless of course, you decide to do so at the end of the auction.
It is vital to give great attention to the description for your auction listing. Provide as much details as possible about the item and consider adding a picture. Great emphasis should be placed to the keywords you use. Another thing, be genuine with the status of your product.
If the item has blotches or scratches, let the potential buyers know that and if possible, the picture you provide should convey this. In case of collectibles, provide every detail you can to prove the authenticity of the item. Let the potential buyers also know how and when you will ship the item to them should they win the bid. In how many hours time will you ship the item to the winner of the bid?
One last thing, consider adding the use of escrow as an option for the buyers. This is an important way of protecting both the buyer and the seller from eBay scammers and fraudsters. In fact, most eBay buyers will not bid on a high ticket item if they can’t use escrow service.