The 3 Most Effective Psychological Pricing Tactics for eBay
HTML-код
- Опубликовано: 27 сен 2024
- You can check out Flipwise here: flipwise.app
My favorite reselling tools that I use:
- Flipwise: flipwise.app
- Label printer: amzn.to/3ymkvAE
- Tape King packing tape: amzn.to/3wywCdq
- Postage scale: amzn.to/3Usvgce
- Tape gun: amzn.to/3QBI5Qd
- Photography lights: amzn.to/4bRgVOj
- Barkeeper's friend: amzn.to/3JP9ZVn
- Scotty peelers: amzn.to/3yfrprK
- Heat gun amzn.to/3wCMNq6
- Shop towels: amzn.to/4b67ERZ
- Magic eraser: amzn.to/3UOZWG4
You can also find me on Instagram here: / justinresells.yt
Some of the links above contain affiliate codes, which means I may get a cut if you decide to make a purchase. And Flipwise is an app that I co-founded. Thank you for your support!
Whenever I leave a yard sale, I sit in my vehicle for a min and use my phone to text the info to myself: date, address, and amount spent. That way I don't have to worry losing a note, nor fogetting to keep a record of the transaction.
😊
That is genius 👏
This is probably one of the most underrated ideas I've come across online related to Ebay, business, book keeping, or anything else. The info is permanent, time stamped, shows intent to be accurate, it's indisputable and convenient. You walk into an audit with a long history of that and you're probably better equipped with proof than 98% of anyone else.
Quicker to put it in separate goodwill or other throwaway bags just write how much, etc on the outside of the plastic bag, tie it up & inventory back at home outside the heat of battle. Time is money in the yard/ garage sale wars!
I do similar except I take a pic of the group of things I just bought and write a text on the pic w/price paid for each item. 😊
I have a google sheets spreadsheet for purchases and document it on my spreadsheet when I leave the sale. I can then later access it on any of my devices.
One of my favorite books called “never split the difference” by Chris Voss explains the “exact pricing” tactic you were mentioning. In the book, he explains that using an odd number and having an abnormal number (I.e. $7.23) makes people think that your offer has been researched and calculated. This gives a lower likelihood of countering since it seems like the number has merit.
I do that with my flat rate shipping so people think it's calculated and not me trying to make a buck 😂
Mine are always a jumbled mess of numbers. The difference is mine are on a %off sale and that skews the even-ish numbers. I sell 80-100 items a week. I need $1500 net payout a week after fees and shipping. What I do sell, there is generally low competition of that item.
Appreciate you showing the not so good flips as well - keeping it real, more encouraging.
Speaking of receiving weird messages, I sold a monster high doll (male) and the buyer sent me pictures of the doll embracing a female doll. What concerns me is if the dolls lose each other's affection prior to 30 days. I don't want a return due to non compatibility.
😂
🤭😆
😂
😂 that's hilarious
LOL! A woman bought a vintage Disney Minnie Mouse plushie from me and did return it. Her reason for the return? It did not have an entity attached to it. She thought it was haunted with a ghost for whatever reason and when no ghost popped out of my non possessed Minnie Mouse she filed IND. I checked her feedback and she did indeed buy haunted dolls on eBay from very unethical sellers for large amounts of money. My doll was just advertised as a plain old ghost free, entity free doll. Why she bought it in the fist place I will never know. People are so bizarre and annoying.
At 12:23. That’s not a lie. eBay doesn’t let you change the address. In fact, they warn about this type of message. The only way to do it is to cancel and redo.
Hi there, I am following your instructions on everything eBay.
My first sale was April 15 and I am rolling right along. I inherited 95% of my inventory. I learned from watching your RUclips videos for 3 months before I felt comfortable with selling. I can’t thank you enough! I wonder if the vintage underwear is being bought by vintage peeps? 😂
I priced a lot of my inventory low to clear it out, but it did not sell. So, I re-listed them at double the price & yes, a lot of it sold. I guess the price does give a perceived value. Thanks.
I expect sales to be slow, only because of the season and kids sports. April, May, June are likely always going to be slow for me. However, these seem to be the best times to buy.
It is so interesting hearing what is coming from the yard sales. The $2 instant pot! Awesome
Behavioral economics/consumer psychology is definitely intriguing. I actually attended a lunch & learn on this very topic at work yesterday
I find it interesting that EVERY SINGLE TIME that everyone on RUclips starts saying that their sales are slow, mine have gone up. Then they will crash back down again when everyone starts saying they've picked up again. One can't help but think that eBay is throwing us tiny sellers a bone, either on purpose or by accident.
Everybody's sales go up and down I would imagine. whether or not it's at the same time or not is coincidental.
Same. I’ve had a gangbusters May compared to the previous few months. It’s garage/yard sale season, so finding good stuff to list.
I can *promise* you that the "good-will, let's help the little guy out" department at Ebay has been unstaffed since *at least* the late 1990's. 😛 But definitely could be accidental... algo switching will often shuffle results and if you happen to be rising with the tide, then... enjoy it while it lasts. 👍
The real psychological pricing haha
I'm on the same rotation as you 😂
About checking comps at garage sales. I do it and I also mention to the garage sale owner that I resell things online 9/10 it’s a great conversation. It’s lead to some cool finds of stuff that was in their house that they sold me.
I agree that 90% of the time that goes over well, but once at an estate sale I had an old lady go off on me in front of everyone for being a reseller haha. Luckily another lady came in and apologized and saved the sale before I walked away.
@@jonathangomez9187 I think people get mad about people reselling because they don’t want to take the time to do it themselves. Literally anyone can do it. It’s wild to me that people would get upset about me trying to start a small business.
I just started going to garage sales about a month ago and I also feel so uncomfortable to check comps on my phone with everybody sitting on their chair or standing right next to you watching you. Plus some of the garage sales I've been going to are quite high priced so I don't want to take a chance because they're asking a lot of money. Most of the items I've been getting are just at the thrift stores and free giveaways in town. Someone on my street this weekend I had a whole lot of books for a dollar each. I looked at quite a lot of them but nothing was really interesting me, he finally said take whatever you want for free.
Justin, your brilliant insights have made you my favourite Ebay channel now. I’m learning so much which helps me to better my selling strategies. Thank you, buddy.👍🏻🌟
I’m gunna ask for a receipt at a garage sale next time and see what they say lol
do it and report back
Justin weekly watcher and learn quite a bit. Question about changing the address after a purchase. EBay will allow you to change the address. However, if you decide to do this EBay seller protections are voided. To maintain seller protection sold items must be sent to the address associated with the purchasing account.
The person selling NWT highly saturated items....maybe try lots of the same sizes?? Like a tank that sells for $6 for one....maybe lot up 5 for $28?
Another option would try to sell them on Whatnot
Thanks for the advice. I’ve been looking yesterday and today into selling sets like shorts and a tank top, jeans and a t-shirt. I like your idea as well and think I’ll try both ways. I’m thinking of taking down 1,000 items and relisting the items in mixed lots. I’m definitely going to try your way and also top and bottom sets. So sad because it’s a well known brand and sellers are running the brand down to pennies. Even the stores are selling them much cheaper than ever before and I can’t help but think it’s because sellers are lowering the price drastically. I want to pivot to selling something else but need to get rid of about 8,000 items. I buy in very large bulk and could have 70 pairs of jeans in the same size. Any advice is greatly appreciated. Thanks so much.
@@DebM122 Good luck...I wish you lots of good sales!
I will send you photos I’m dying over here about the briefs 😂😂😂😂
I would never have a garage sale to sell something for 50 cents but I enjoy those that do! 😂 great flip!
I believe it is in the T&C's for purchase protection, that the item is sent to the address that is listed under the customer's details.
Loving the look of Flipwise. Can't wait to use it in The Netherlands. Thanks for all the effort you put into your videos & sharing your knowledge.
Hey Justin Thank you for the great videos! My Question is : Can you show us ( me ) how to configure a No Return policy for items listed as Parts or Repair for eBay? like a step by step how to? Thanks in advance!!
Hello! Thank you for your videos, they have been a huge help for me. I'm a new reseller and find myself being pretty impatient when it comes to waiting for a buyer. I send offers pretty frequently because I am anxious that I priced something too high despite my research. How often do you send offers? What items do you send offers on most often? And what criteria (if any) do you use to decide whether or not to send an offer?
Massimo Vignelli designed the famous NYC subway system maps in the 70's!! What a find!!
Garage sales are fast paced. I'm niched down on what I buy and have a good idea what a high COG is. Gotta be niched and quick. Anymore there is a ton of competition on the driveway with you. Gotta out run them. And I just do this as a means to pay for my collection, any more there are people trying to do the vlogger and/or straight up full timers.
Re: addresses and ebay change of address if you are both a seller and a buyer who is moving there's not just 1 address you must provide, but 5.
I had a buyer ask me to place some depends he purchased in a box rather than a poly bag in fear that the people living with him would feel the bag and guess what was inside. I told him the increased weight of the box would increase the shipping price and he was glad to pay it.
Some people at garage sales figure they are going to just donate everything if it don't sell, so they just don't care. I bought a hockey jersey, and they told me the value on ebay and when I asked why they don't sell it there they said they didn't want to deal with it. It took 4 months but in the end it was a $5 jersey that sold for $250. I love garage sales for that reason but there are plenty as well that have looked everything up and want a premium as well.
Nope, address changers are scamming the seller. I just tell them that they have to log into their account and put the correct address, as that's the ONLY one I'll ship to. 99.9% of the time I get the "ok, nevermind" reply and then I ship it unless they cancel the order.
Last I heard, if you ship to a different address you lose eBay's seller protection. I never do it. Cancel the order and change their address if they want it sent somewhere else. I used to use "precision pricing" on our annual budget. Our budget was $18 million, plus or minus 10%. It cost way too much to get more precise. But the accountants would demand precision. OK. So we would submit a budget of $18,113,247. All of a sudden, they would not challenge our number.
Thank you for your videos and lessons. You have a good way about you and I like your, sitting down and answering questions while looking at best sells method of content. My question is, do you think you have alot of repeat buyers or are the majority new people who've never purchased from you?
Another strategy a reseller uses but I don’t know what the term is, she does her comps and sets her price, adds 30% to the cost and then lists the item with the higher price on sale for 30% off. Interesting! a sale bias strategy?
I think it’s called “running a fake sale” in reseller-speak.
Excellent insight and thanks for your work
The space Interpreter, Thomas müeller. That’s a great find, he’s a germany and Bayern Munich legend!
12:44 you’re not lying, I learned that you lose seller protection if you ship to a different address
Would love to see a video of "how to " on your flipwise with all the steps needed to use it and how to make the most of it. Is there a place to note mileage & such including what to print come tax time. A good walk thru from start to finish. Thank you for your informative videos.
Woo hoo! No comps at garage sales. There's no fun in that. Yes, use your judgement. If its cheap and think it can sell even for a tiny profit, it's a great learning experience!
Question for next video, If You have 35 to 50 sales per week, those sales could be called organic sales - without promoting, I'm new to online sales. ty
I haven’t sold a single thing since May 14th 😭
Ouch!
The ROI number is kind of meaningless because it does not include the cost of the labor and it is not annualized. You need to calculate it in this way for it to be useful in making a decision regarding what investments to make and what not to make, or what items to resell and what not to resell.
I'd be interested to see some research on left digit bias. I struggle to imagine it having any impact, I've never met anyone who sees $49.99 and says anything other than 50 when they say what price it is. I think it works for companies just because people understand that the ask is $50 and are willing to pay $50.
journals.sagepub.com/doi/full/10.1177/0022243720932532
My husband is a perfect example of someone this pricing works on lol 🤪🫣😂 He will always say the rounded DOWN number. In fact, he sometimes will say something was "about 40 dollars" if it was 49! Ha ha 😂
I used to sell on Etsy and was trying to decide on good pricing for eBay. Etsy and eBay buyers just aren’t the same. I read somewhere that eBay buyers actually prefer whole numbers because it feels more honest. I also read that a lot of higher end companies sell in whole numbers because .99 is seen as cheap. While I suppose cheaper is better in some regard, whole numbers signify better quality and in turn happier customers. I prefer the whole number for the particular niche I sell in.
So does the Poshmark platform. Everything in whole dollars, just another of their many dumb-it-down/ K.I.S.S. strategies…
I also recall seeing somewhere recently that there was a WSJ study on negotiating and it concluded that people preferred to the dollar (no odd cents) when receiving an offer from a seller. Does anyone else know of or heard about this or a similar study?
I follow other resellers and everyone has had a rough couple of weeks. Ebay has been screwing with their website. It seems they are playing favoritism and if you were selling well, you have been throttled for other sellers that haven't. I have moved over to other platforms and cross listing over there and getting traffic on items that have been on eBay for weeks and haven't gotten views at all! I have also stopped my constant listings with ebay. Im not going to feed the machine if its not going to pay out🤷♂️
Can you count the eBay item sold fee towards tax deductions?
How much testing do you do with any electronics you buy at garage sales before you flip them? The instant pot for example has multiple ways to use it. How much testing did you run it through before you posted it?
This is also my question. You said it looked new. I would be concerned that they tried it and it was a dud and it was too late for them to return it.
My wife and I are fairly new resellers on eBay only into our first year and I’m only keeping track of inventory by list for bins on paper and when you mentioned taxes for purchase prices that was a red flag for me because I have not been keeping track. I have just over 200 items and could probably remember how much I payed at this point. I’ve been watching you channel now for 6 months or so weekly, I find your channel very helpful and well your voice doesn’t make me want to turn you off because everything you say has purpose. You said on a past video that you were taking on Canadian trials for Flip Wise to work out the bugs and such, is this still something available for us to try out, I don’t mind paying for the program but just wanting to know if it’s available here in Canada yet?
Hi, not sure if you have covered this before but how do you handle returns? Do you offer returns? Thanks.
Hypothetical thought to get your opinion
Your part time ebay(with a full time job) listing 7-10 a day and selling 55 a week (about 1 to1) and you loose the 9-5
Now you are able to ramp up your efforts on eBay and you start listing 40 a day… how long (and it’s a guess I know cause no one really knows) do you think it would take for your sales to catch your listing effort assuming you find average and better listing
I'm contemplating opting-in the global program, but have some Levi's listed in my store and think I heard something about you can't sell Levi's overseas?? Any advice would be appreciated!! Thanks for sharing your wisdom!👍
I know the key to more sales is consistency and of course listing. I'd like to know if you saw a distinct jump in sales when you got to a certain active listings amount. I have over 500 books listed and I'm curious if you've ever seen a double in sales based on number of active listings. Or in other words, do you have twice the daily sales from when you had 500 active? Thanks for sharing all your wisdom!
How can i go see your live auctions? I don't see a link
what precentage do you promote your items? Thank you for the content, I am really enjoying it
2%
You as the seller can't change the mailing address. You do have to cancel and relist for them to buy with the correect address.
Thanks Justin
As for checking comps at garage sales, i walk up staring at my phone "texting" people while my wife is the polite social one, then i meander around checking comps seeming uninterested, like I'm just out with her but i don't particularly want to be there 😅😅 they just assume I'm still texting the whole time lol
Great info
I gotta shake my head people are selling in a category where they KNOW its a race to the bottom to get sales. What a waste of time, money and effort.
I think the name of the player made the shirt sell very quickly as Muller is a very known player.
vintage underwear!? well i'll be darned.
I always tell the seller, " Can I send A picture to my wife and make sure she doesn't kill me if I buy this?" Then I open up eBay picture look up and boom fast and non sus. But yes, most of the time, if you say you resell, they will be more willing to help.
Hey justin love the content, I was wondering how many items do you have listed and how much u listed stock do you have?
Attn coin resellers any tips on selling collectible coins?
Hi Justin - My wife and I are regular viewers and consider your weekly videos "must see TV." Question...Do you struggle with balancing sharing your sourcing finds with giving away "secrets" that could increase overall supply on eBay?
great question. will answer in next week's episode :)
@justinresells Excellent! We will be watching! For what it's worth, we do find your content to be informative and entertaining. We are also part time resellers (Plug :) eBay J&S Good Stuff Store) and thoroughly enjoy the thrill of the hunt. Who knew there was such value to be had out there? Thanks for sharing.
Do they have dates on the underwear packages? How do you tell it’s vintage?
Yep, they usually have dates.
Do you ever send offers or reduce your price? Or promote your listings?
got a whole other video on that topic: ruclips.net/video/Kef1xouVphA/видео.html
I wonder how you think about eking more money out of people. Your insta pot for example, it sold in 2 days so you maybe could have left it longer at a more expensive price just to see
Helvetica
I've been selling for a little over a year. I made under $3k. I've decided to continue to sell with hopes of making more. How can I deduct my cost of goods when I am a sole entrepreneur?
??? Thanks for sharing the pricing strategies, very good stuff. I know you have said you don't have best offers turned on for most of your items. However, if that option is used, how important do you think those strategies/pricing are if buyers can just offer whatever they want to pay?
Hey Justin! Funnily enough my eBay store I sell only Football Shirts/Soccer Jersey's, which is really successful for me. In my case, what do you thinks works better for reselling: Having a specialised niche where you have a lot of knowledge in it and can know the ins and outs, or a "jack of all trades" where you have a broader knowledge on more items? Would love to hear your feedback
Answer me this anybody. I contacted eBay about tax stuff and what I needed for that. Well I was told if I bought privately off someone (yard sale or fb marketplace) and listed it that I didn’t have the proper documentation and that they couldn’t write me a receipt for what I bought. Based off the into from the very first question I feel like I was told wrong. Am I able to buy privately as long as I keep track of what I paid for it or do they need to “write” me a receipt?
Your best bet is to ask a CPA for a definitive answer!
A few videos back, you mentioned a quick way (e.g. a control command) to search eBay sold listings in a new browser tab. I can’t find that info again, would you or someone else remind repeating what that trick is?
If I sell goods from my home with flipwise, what do I put for cost of good sold? Do I put $0 or do I put the value i sold it for, because these are depreciated items.
help.flipwise.app/article/34-what-should-i-put-for-the-cost-of-personal-items-i-am-selling
Nice vid!!!!
Talking about weird comments... bro, the adult diaper crowd is INSANE!
Hey I like the way you do ebay so tk u for sharing. I have about 3 K items that I got from family and thrifting..regular mall brands..Im finding hard check every single brand STR… can u suggest a 3 tier pricing strategy for me ( Ex: a-excellent b -very good c good) so I can speed up the process? selling for $2 -$5 net is not my business model…but I have enough of itesm to liquidate/auction in hopes to please the algorythms… tk u! Super hoping hearing back from u!!!!🙌🙌🙌🙌🙌
I have some electronics to sell but no idea of how to test them. How should I sell these items?
Have you ever blocked a buyer on Ebay and if so why?
I am just new to all of this. I would like to know if I need to keep all my pictures at least until the item it totally gone to the buyer and isn’t coming back or will I need them for tax purposes?
I have a favor to ask. I am a new eBay seller however we are liquidating an industrial business so my sales are much higher however not in the ball park I expected them to be. Could you take a look at my store and give me some pointers on what I’m doing wrong.
Does eBay automatically send you the form you need for tax time ?
Umbro are good soccer jerseys are good
I don't know if it's that flea market host don't realize their value or they just want to sell it and make someone else happy.
What is your eBay store?
i have it linked on my RUclips profile, or you can see it here: www.ebay.com/str/trouvaillemarketstl
eBay servers were playing up, many sellers have seen less sales.
For the Peloton Shoes, did you have them in mens shoes or in sports category? I have a new in box pair and have had them listed since december. Thanks.
Looks like these were in Sporting Goods > Cycling > Cycling Shoes & Shoe Covers. Try adjusting your price!
Are all of your flips of the week "buy it now" sales? It'd be interesting to know if any of them were auctions. Thanks
I have a separate video on that topic: ruclips.net/video/-O32DfKrQy0/видео.html
@@justinresells Thank you
Love from Djibouti
7:17 😂😂😂😂
Also...vintage underwear? So that underwear was in the package for over twenty years?
correct!
What video editing software do you use?
I use Final Cut Pro.
What makes one tomagachi more valuable than another?
The guy selling clothes should sell on other platforms.
Is your eye okay?
i think so?
😂
lold for the russia guy
Oh gross😮
No clue what you’re talking about but it made me laugh 😂
@@beesautisticmiscellany1290 re the vintage underwear Justin was reviewing in his top sales, he got a detailed message from a buyer re the underwear, the fit and so forth, TMI big time 🥸
@@beesautisticmiscellany1290 Me too, especially after reading your reply!
I think the gross comment was relating to the Russian man who sent photos of himself asking if the vintage underwear would fit him 😂😂😂
That underwear message. 😒
Thought I was subscribed to your channel already. Oops. My bad. Fixed. 😂 Also followed you at IG. 🎉
I used your information from a previous RUclips you did. Splitting items up instead of selling it whole. I purchased a complete set of 2nd Gen Ring System at Goodwill for $7.99 (just realized they're using left digit bias). Broke it down, listed it and have sold 2 of the items in less than 24 hrs. So far I've netted $26.43. With 5 more items to sell from the box. Thank you again for giving all of us helpful information!!
6:52 😂😂😂
I've sold vintage Hanes and received that exact message.. and pictures.. 🤣
Do you put any type of disclaimer about the elastic waistband? I’m always worried that it may be dry rotted and it’s in a sealed pack with no way to know the condition without opening.