Ebay starting price

[helopilot]

Hi All,

Just thinking here... I know scary thought.

How much does the starting price of a auction effect the final outcome. If you start out the auction with too low a price it seems to have a hard time building up steam. Even if a guy is willing to pay alot for something he can't get there without competion from another bidder. I have had to deal with this on parts quite a bit.

I have sold 1 car on Ebay but I watch auctions daily. I sold a roadster for a BIN of $7500. I started the auction at $3000 IIRC with a reserve of $6000 and the BIN of $7500. The car sold in about the 4th day of a 7 day auction.

I believe a pretty good starting price is important to separate the tire kickers.

Any one else have any thoughts?

It is probably about time for me to go back to work. Going to be in the Abingdon VA/Bristol Tenn area for the next 2 weeks hanging out at the airport. Any members from that area here?

Phil

[DeesZ]

Phil, there are several schools of thought on this issue. I'll offer you my opinion based on ten years of active selling on eBay...

Experience has shown me that a rock bottom starting bid does, as you say, 'take a while to build up some steam', but that's almost always where I start.... What you need is a head of steam at the 'end', not the 'beginning', and that can be accomplished with building up a 'bank' of interested parties who are actively in the bidding or watching with the intent of possibly getting involved. The best way to get people to bid and watch early is to start at the bottom of the price range, way below your bottom end limit. Once a party gets involved, your listing is on their eBay home pages somewhere and it keeps being waved in front of them, reminding them to look at it again and to follow the auction. The bargain hunters / bottom feeders will be eventually knocked out of the ring, but they do play an important role by providing the sense of competition among the participants. Let's face it, if there are ten bidders involved, there must be something interesting, right? Let the tire kickers have fun, too... they will do you no harm. I do believe in "reserves" to protect my investment on a big ticket item. I'm on the fence wit BIN, and usually do not use the option (to me it takes away the wondering about where the reserve might be set, and usually deters me from getting invested in the auction because I know about where it's going to end up anyway).

This is all a matter of opinion, and I'm sure others will be voiced, so weigh them out, do some research on eBay with completed sales, and do what feels right for you after considering the options, There is some psychology involved related to 'auction fever', etc., but the fact is the more potential buyers you have watching, the better your end results will likely be. I am notorious for starting bidding on my items at $0.01. Sometimes it's simply amazing how long it takes to get a bid, but all the while my list of watchers grows and grows...... The last few minutes make all of the difference in about 85% of my auction listings.

Two other majormconsiderations (again, IMHO): 1) Your Description; see recent posts on just this issue by a fellow club member now selling his Z on eBay. Good descriptions involve serious buyers and sell cars. 2) The Ending Time and Duration: set the auction to end when you think that your audience of potential buyers being available at the computer is the largest (don't forget the 'time zone' issue), & for duration, consider a ten-day auction scheduled to start (Thursday?) so that you will capture two weekends worth of eBay activity - statistics show that most shopping happens over the weekend, and I have had great luck with auctions ending late Sunday afternoon into Sunday night.

Good luck... Please let me know if I can help.

[helopilot]

Thanks for the comment John. Just the kind of perspective I was looking for. I may be selling one or two cars in the next few months. Just looking for all the information and perspectives available.

Thanks

Phil

[Arne]

Selling Roadsters or Zs, Phil?

[helopilot]

Well....

The great thing is I don't have to sell anything. I am justing pondering re-aranging the fleet. Maybe.

I have a 68 roadster the yellow one which is totally original. All paperwork since new, dealer sticker, black Ca plate, sales contract you name it. In 1968 they bought the car for 36 payments of $90.14. It is a car with some historic responsibility I feel. I was looking at the scale and it is a mid to high 3 car. The car also has the B cam with new Solex carbs appropriate to the year with just 150-200 miles on them.

I can't really do much with it. It has some small dings, chipped paint here and there. The original paint is still very nice other than a few small things.The interior is beautiful it is a very nice car. I feel if i mess with it and make it perfect it would be worth less. I consider these flaws a kind of patina.

It is kinda like on the antique roadshow when they find the killer Boston chair. Worth $XXXX. Now if they hadn't re-finished it it would be worth $xxxxxx.

I have my 67.5 2 liter which is a nice driver but the frame number dosen't match, although it is registered as a SRL 311, the color isn't stock it needs this and that. I love sourcing the parts, driving it and fussing over the things it needs.

I am picking up the 73 240 in the am and for what I paid the sky is wide open on what I could do. I could fix the bumper, paint the car and flip it, or since it isn't a historic low number car I wouldn't feel guilty If I added some cool things, if the parts aren't perfect, or exactly the right thing.

Anyway I know that most cars like my yellow car are sold "back channel" so to speak. I have let one guy know it may be available. It is worth every penny of the high blue book. 19-20K Due to the condition and documentation.

My wife likes the cars and thinks I am crazy to even consider it. I think a survivor is more valuable than a restored car in some cases.

Like I said I have been off for 5-6 months from my real job of fire fighting and the mind wanders. I have been trying to kick this cold all week and spending waaaay to much time on the computer, although I do notice Arne, when ever I log in your usually hanging out as well.

See you tomorrow.

Phil

[DougN]

Phil,

I have a colleage at work looking for a '68 Roadster. If you're interesting in selling yours, send me a PM or an email (doug240Z*at*charter*dot*net) with the details, asking price and some photos and I'd be glad to forward it on to him!