Tracking New Listings
In the Facebook groups I’m active in I talk a lot about raising prices to sell stuff. Another thing I do is to keep an eye on my newly listed items to track the number of watchers. If I see that an item gets a good amount of watchers in the first few days, I increase my price. If more watchers join the party, I might raise my price again.
Here’s a listing that I did just that. I picked up this blinged out Harley tank top at our local community garage sale for $1. I listed it for $24.99 on 8/10/2015. Within a week I had a handful of watchers so I increased the price to $29.99. At some point later I had more watchers so I increased the price to $34.99. It sold in September with 382 views and 12 watchers. I would have been happy with a $25 sale but am happier to have an additional $10 in my pocket for the same amount of work. Believe in the value of your items and remember that what you pay for something has no relevance to what it’s worth.
Here’s another listing….I knew I had a great find when I saw this Laurence Kazar Beaded Christmas Blouse in a size 1X at a Phoenix Thrift Store for $7. I originally listed it at $99.99 on November 14, 2015. In a few days I had two watchers and I increased the price to $109.99. The next time I looked at it, maybe two weeks into the listing I noticed it at four watchers, so I increased the price to $119.99. When it hit five watchers a few days later I decided to increase the price to $129.99 and let it ride. I was a bit bummed when it didn’t sell before Christmas but that didn’t discourage me…I held on to my $129.99 price and waited for the right buyer. I had faith in my item, faith in the price I had finally settled on and was just waiting for the right buyer to come along. My experience has shown me that most items will eventually sell and that reducing the price before it has been listed 90 days just means I’m leaving money on the table.
My instinct and experience paid off when this beaded blouse sold for $129.99 on January 6, 2016, about six weeks after being listed.