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Managing Pricing
The flexibility to revise or change your pricing approach is one of the great advantages of an eBay Motors listing. Depending on how your listing is going, you can:
- Lower your Reserve or Buy It Now price.
- Add a Buy It Now price.
- End a listing early.
- Issue a Second Chance Offer on a Non-Sale Listing.
- Relist a Non-Sale Listing.
Lowering a Reserve or Buy It Now Price
It's not uncommon to communicate with bidders about price during the listing process. Doing so puts you in a better position to use the new "Lower Your Price" feature – on either a Reserve or Buy It Now listing – to help close the deal.
You can lower your Reserve or Buy It Now price as many times as you like. When you do, all bidders are automatically notified by email about the lowered price.
Of course, lowering your price may affect any current bids — when you drop the Reserve or Buy It Now price below the high bidder's maximum bid, that bid will be lowered to $1.00 below the new Reserve Price, allowing the high bidder to confirm his or her interest in the vehicle. Equally, when you lower the Buy It Now price below the Reserve Price, the Reserve will be lowered to the same amount as the new Buy It Now price.
You can lower the Reserve or Buy It Now price on three pages — the actual listing itself, your "My eBay" page or the Revise Your Item page.
Add a Buy It Now price
Any time prior to your bids or Reserve being met, you have the option of adding a Buy It Now price to your listing. The new Buy It Now price can be any amount above the current high bid.
To add a Buy It Now price, go to the "Revise Your Item" page. If the new Buy It Now price is below the Reserve Price, the Reserve Price will be lowered to the same amount as the new Buy It Now price.
To qualify for the Buy It Now pricing option, you must have either a minimum feedback rating of 10 or be ID verified. Or if you have a PayPal account, you need a minimum feedback score of 5 and accept PayPal as a payment method.
End a Listing Early
In rare instances when something goes wrong and you can't complete your listing as planned, you can end it before the scheduled date (though not within the last 12 hours of the listing) with any bids on your vehicle being canceled.
IMPORTANT NOTE: While it is acceptable for a seller to end an eBay Motors listing before the reserve is met in order to sell off the lot, beware of selling the same car twice. Once the reserve is met on an eBay Motors listing (or a no reserve listing receives its first bid), you have committed to sell the vehicle to the winning bidder. Make sure your sales staff knows when the reserve has been met on an eBay Motors listing and place the vehicle on the sold inventory list. If you sell a winning bidder's car to a walk-in customer, the bidder has the option of leaving negative feedback. Non-performing sellers will be investigated.
Similarly, when a vehicle is sold while the eBay Motors listing is still under Reserve, remember to end the listing. It's common courtesy to contact your bidder, letting him or her know the item is no longer available for sale. It also creates an opportunity for you to direct the potential buyer to inventory you still have available.
IMPORTANT NOTE: Sellers are not permitted to cancel bids or end listings early in order to avoid selling an item that did not meet the desired sale price. This is considered "Reserve Fee Circumvention," and while there are legitimate reasons for ending a listing early, abuse of this option will be investigated.
Non-Sale Listing Options
For a variety of reasons, there are times when vehicles don't sell the first time they're listed on eBay Motors. In the event your listing ends as a Non-Sale, you'll still have two options to sell it — as a Second Chance Offer or by "Relisting" it.
Second Chance Offer
A Second Chance Offer is exactly that, allowing you to contact one, more or all of the bidders on your ended listing, offering them a second, lower price on the vehicle. The only requirement being that your automated, Second Offer must be lower than your previous Reserve Price.
Using the Second Chance feature is simple. At the end of any Non-Sale listing, eBay Motors will send you an email message announcing the end of the listing. In the email, you'll find a link to the Second Chance Offer tool. A similar link will appear on the closed-listing page as well.
Relisting a Non-Sale Listing
In addition to the Second Chance Offer, you can simply "Relist" your vehicle, often at a reduced price.
Here's how: If your item sells the second time, the Insertion Fee ($40) for the second listing will be credited back to your eBay account. However, if it doesn't sell the second time, your account will not be credited for the second Insertion Fee ($40).
You can relist any vehicle on eBay Motors by clicking the "Relist This Item" button in the top left-hand corner of your item page, or from your "My eBay" page. When relisting, consider lowering your Reserve, removing the Reserve altogether or adding more information and/or photos to your listing to help it sell the second time around.
Also, if someone contacted you expressing interest in the vehicle during the initial listing but didn't enter a bid, you can easily accommodate the sale on eBay Motors by relisting the vehicle with an agreed upon Buy It Now price. Your relisting will be free, you'll gain the benefit of positive Feedback and the buyer will gain peace of mind from eBay's available limited-warranty and purchase protection program — services not available if the vehicle listing does not close successfully on eBay Motors.
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INCREASING SALES |
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"eBay Motors draws in customers from across the country and across the oceans." |
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Jason Rebholz, Internet Sales Manager, Bobby Rahal Motorcars, Wexford, PA. |
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Getting Started
