An article on BusinessWeek offers more tips for eBay sellers. The article includes some obvious tips like use photographs, spell-check and don’t flood the market with products. Here is one good suggestion about setting the bid price low for items you know won’t have a lot of interest.
1. Set the starting price low (except for items you expect little interest in). Low starting prices stimulate auction traffic and get early bidders psychologically invested in the auction, leading to more completed sales and higher final prices. Professor Gillian Ku from London Business School and professors Adam Galinsky and J. Keith Murnighan from Northwestern found that Nikon cameras with starting prices of $0.01 resulted in significantly higher final prices than the average price for completed camera auctions.
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