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Chapter 9. Step Seven: Research Other eB... > Why Researching Pricing Is Important

Why Researching Pricing Is Important

Let's back up a minute. How important can pricing be when all items are sold to the highest bidder? It's simple, really. First, the initial bid price you set for an item will determine how many bidders you attract. Set the initial price too high and you drive away potential buyers; set the price too low, and the auction might not hit the final selling price you want.

Second, you have the option of using eBay's Buy It Now option, which lets buyers purchase an item without going through the entire auction process. Buy It Now is great when you have large quantities of items to sell, and lets you generate income independent of the normal auction closing schedule. But to set a Buy It Now price, you have to determine the correct selling price for the item. (With no auction bids, the price won't rise to the market level by itself.)


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