1. For brands I'm familiar with: Banana Republic, Ann Taylor, Gap, Old Navy, etc. I start pants, skirts and sweaters at 7.00-8.00, Jeans 8.00-9.00, Overalls 9.99 (here's where the .99 cent rule changes) and jackets and suit coats 8.00-9.00. What determines if it's a 7.00 or 8.00 or 8.00 or 9.00- Maybe it's new with tags, or it's amazingly cute- then it earns the higher price.
2. If I find a brand that I'm unfamiliar with, but feels like good quality, and is cute, I purchase the item, come home and type the brand name into the ebay search box. This will tell me all the auctions that are listed with that brand. I then check the completed listings box on the left side of the screen to find out how much this particular brand SELLS for. When looking at the completed listing, note whether the item received mulitple bids, was a buy it now, or received 1 bid.
3. If the item generally sells in the 10-15 dollar range with mulitiple bids, I'll start the item at $9.99- Why? Because that's the most I can list the item for at the .25 insertion fee.
4. If the item generally sells with 1 bid or a buy it now, I try to price it closer to those winning bids- $14.99 or $24.99 (maybe I am a .99 cent type of girl?)
5. Once I get all of my items listed, I monitor how well they sell. After the first week, if the item hasn't sold, I will again relist at the full price. After 2 weeks, if the item hasn't sold, I lower the price to $5.50. After 3 weeks, if the item hasn't sold, I lower the price to $2.99. If the item doesn't sell at $2.99 it either gets sold at my next garage sale or donated. Because I deduct the cost of the clothes I'm listing each week, the numbers I report are profit- It accounts for all of the clothes- So, if an item hasn't sold after those 4 weeks, it's okay to let it go.
6. I usually have between 225-250 items for sale. I only list 70-100 new items a week, but with my relist system, it keeps my inventory full.
7. When pulling non-selling items from the rack I'm usually able to see some commonalities. Petite size pants don't sell well for me- now I avoid petites. Even if an item is New With Tags- if it's a no name brand, it usually doesn't sell. I was quickly able to see when Linen stopped selling and wool and tweed became the hot item. Each week my non-sellers teach me little bits of information that help me be a wiser shopper.
8. I know several sellers that start all of their items at .99, or 1.99- I would really discourage anyone from doing that. Ebay is so unpredictable- They've had new ipads sell for less than $5.00. Start your items at a price you would be happy with if you only received 1 bid. In the past month, 75% of my items only received 1 bid. If those items were listed at .99 I would not be making very much money.
I'm sure there's so many other questions I'm forgetting to answer- please leave a comment if you think of one. I will respond to all questions in the comments section, with a comment. Before I go, however, I will tell you what I think are my two biggest tips for ebay success:
1. Do not allow yourself to shop for new items if you haven't listed the previous weeks items. We all know shopping is one of the best things about selling on ebay, however, if you're not listing those items in a timely manner, it can quickly go from fun, to expensive, to overwhelming to borderline "Hoarder" I discipline myself by not allowing any shopping until all items are listed. So far I've been able to shop each week. This will also cause you to be a pickier shopper. If you know everything you buy has to be listed in the next 6 days- you don't buy as much.
2. Give back: I'm a firm believer in Karma and in serving others. Laura and I both will pass along items we find to those we know are in need. We also pay tithing to our Church. Find an organization or individual that you feel passionate about and give back.
Hope these suggestions help. If you have any tips or questions be sure to leave a comment. Love, Kelly