I’m going to tell you now about people who will pay way over the odds for something you are selling, just to make sure they get their hands on that item and stop someone else buying it instead
As an eBay seller that sort of thing happens to me every day, and once you’ve finished reading this article, you’ll be no stranger to receiving top whack prices for items you purchase for pennies or low pounds at boot sales and flea markets.
Before
I reveal how to make this idea work for you, let me tell you about something that
happened to me more than forty years ago and which I have regretted every day
since.
It
happened at the Ramside Hall Hotel in Durham City, at a flea market where a
dealer had a massive selection of vintage topographical postcards from my own
collecting area, namely towns and villages close to Peterlee where I lived at
the time.
I had
twenty or thirty pounds in my purse, enough then to buy a fistful of average
price postcards. I bought what I wanted and
was about to leave for home with enough money left to pay the rent for the week
ahead.
And
that is when I spotted two identical real photographic postcards depicting the
interior of a long gone railway station in a nearby village. I had been looking for this view for years!
I had
enough money to buy one of the cards, but if I bought the card I would not be
able to pay the rent. What should I do?
Well,
I’m not one for avoiding my debts, and there was a second card available, so I
asked the stallholder where he would be the following week. Then I set off for home, confidently expecting
to see at least one of the cards at next week’s flea market.
But, I
never saw those cards again, not at the following week’s flea market, not on
eBay, not anywhere else!
And
that is why, faced with potentially losing an item I really want to own, I will
jump at the chance to buy it in future. And
I will hand over my money right away. On
eBay, that means hitting the ‘Buy It Now’ button faster than you can say “Give
the rent a miss this week!”
And my
experience is mirrored by other collectors desperate to own a particular item
and willing to pay ten or more times what the item is really worth.
For
obvious reasons, this idea works with unusual or unique items, like antiques,
art and collectibles, but not for mass market products available aplenty on
eBay.
You can
locate suitable high profit items by researching eBay daily to find recently
completed auction listings for art, antiques and collectibles. Auctions represent the very highest finishing
prices and sometimes dozens of bidders.
All you
have to do is jot down the highest prices paid for items with the highest
bidder numbers. Then you go looking for
similar items at boot sales and flea markets and priced less than half the
amount paid for those items recently on eBay.
You get
the item home, recheck its potential on eBay, then list it in your eBay shop
with a price at least twenty-five per cent higher than the recent highest
finishing price for a similar item on eBay.
Use a fixed price listing and add ‘Buy It Now’ and ‘Best Offer’ to the
mix, then wait.
Within
days you’ll begin receiving ‘Best Offers’, some derisory, some pretty close to what
you will eventually get. Be courageous
and refuse all early offers less than ten per cent below your own fixed price. Do so for two or three weeks because there’s
always someone willing to pay a silly price for something they can’t live
without. If your item remains unsold
after three weeks, accept the first offer exceeding the highest recent
finishing price for a similar item.
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