Setting prices

Advice on price setting:

1. You will learn from experience.

2. If you sell it for the price you asked, feel good about it.  Relax.

3. Your odds of selling are higher if your price is competitive, and highest if you undercut everyone else.

4. Price your buyout by ending in a 9.  Same for your bid price.   Do it for the same reason businesses do it in real life: the item simply sounds cheaper at 99g than if it were listed at 100g.

5. If you want to minimize the chances of getting the item back in the mail, place the bid considerably lower, say 49g bid/79g buyout.   Often, someone will agree to you bid price (49g), even though they may have to wait a day or two.

6. If is is a high volume item, however, it generally is not worth it to leave a lot of money on the table (by setting the bid price too low) if you’re fairly certain it WILL sell in a few days.  In that case, the bid should not be much below the buyout price.

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