When you list a vehicle on eBay Motors you want to be sure not to price it too high, which might scare away potential buyers, or price it too low and risk getting less than you want. Below are some strategies to consider.
Setting a reserve price
When you list a vehicle with a reserve price you aren't obligated to sell it unless the bidding reaches at least your reserve price. This option lets you list your vehicle with a low starting price to attract bidders, but reduces the risk that you'll have to sell the vehicle at a price that's lower than you want.
The reserve price isn't shown to bidders, but you're welcome to tell bidders what your reserve is.
An auction-style listing with a reserve price is effective for late model vehicles and higher-priced vehicles when you think there is a good chance the bidding will reach your reserve.
The main benefit of a reserve price is that it lets you set a low starting price to attract bidders—so keep your starting price low relative to your reserve price. For example, if your reserve price for a vehicle is $10,000, start the bidding at $1000. The low price will attract more bidders and is likely to drive bidding activity immediately while your reserve protects you.
Note: You can lower or remove your reserve price during the listing.
Selling without a reserve price
When you list a vehicle without a reserve price, you're obligated to sell it to the highest bidder, even if the final bid amount is less than you hoped to get. Keep this in mind when choosing a starting price for your vehicle.
A listing without a reserve price is effective for older and lower-priced vehicles, or if you want to sell the vehicle quickly and you're more flexible about the price you'll accept.
Offering a Buy It Now price
The Buy It Now price allows you to specify a fixed price for your vehicle.
Use the Buy It Now price to let buyers purchase your vehicle quickly for a price you'll accept. You can offer a Buy It Now price in an auction-style listing with or without a reserve price. Setting a reasonable Buy It Now price also shows buyers that you're serious about making a deal.
It's good to remember that many buyers will assume that your reserve price (if you have one) will be similar to, or the same as, your Buy It Now price. This means that setting an unrealistically high Buy It Now price—like a "sticker price"—can scare away potential buyers.
You can always lower your Buy It Now price during the listing to show buyers that you are willing to sell the vehicle immediately for a fixed price. You may also add a Buy It Now price to allow a buyer to buy the vehicle immediately and end the listing.