Opening Bids

monkeymcgee · 06-25-2012, 10:18 PM

I've been a strictly BIN guy for a couple of years, but the problem I'm having is things sit around way too long. So I've started doing auctions again, but after my first batch ended I'm wondering where you more experienced auction sellers set your opening bids so you don't get screwed.

I started all the auctions at $1.99 thinking that worst case scenario I'd at least have shipping ($1.64) and most fees covered. Unfortunately several cards ended at $1.99 and I ended up basically paying the buyers to buy those cards after all the fees. I'm not talking about crap cards.

So, I was curious about where you set your opening bid so you get protected but you don't scare away bidders. I'm thinking about going with $2.99, which would guarantee me a small profit (~ $0.50) on opening bids.

Forgot to mention, I do free shipping for my listings.

06-25-2012, 10:18 PM	#1
monkeymcgee Member Join Date: Apr 2010 Location: VA Posts: 10,974	Opening Bids I've been a strictly BIN guy for a couple of years, but the problem I'm having is things sit around way too long. So I've started doing auctions again, but after my first batch ended I'm wondering where you more experienced auction sellers set your opening bids so you don't get screwed. I started all the auctions at $1.99 thinking that worst case scenario I'd at least have shipping ($1.64) and most fees covered. Unfortunately several cards ended at $1.99 and I ended up basically paying the buyers to buy those cards after all the fees. I'm not talking about crap cards. So, I was curious about where you set your opening bid so you get protected but you don't scare away bidders. I'm thinking about going with $2.99, which would guarantee me a small profit (~ $0.50) on opening bids. Forgot to mention, I do free shipping for my listings. Last edited by monkeymcgee; 06-25-2012 at 10:21 PM.