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Need help pricing an item.

 
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KingJ
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Joined: 25 Sep 2007
Posts: 188
Location: United States

PostPosted: Thu Jan 10, 2008 4:49 am    Post subject: Need help pricing an item. Reply with quote

I may have my Yamaha Motif XS6 priced too high, because no matter what site I put it on, I've gotten very fiew responses. It's currently priced at $1600, and it's only three months old. I would appreciate any help!
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Kontrol49
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Joined: 04 Mar 2006
Posts: 1280

PostPosted: Thu Jan 10, 2008 1:58 pm    Post subject: Reply with quote

Don't be so impatient,I've had gear listed on Various Musical instrument sites for sale,infact one synth was listed for well over 9 months with no interest or enquires before I got any real interest,eventually sold it for a little more than I had originally listed it for the first time

Don't expect to list it and it be sold the following day,things take time you just have to patient sooner or later the right Buyer will see your Advertisment

I wouldn't say its because you may have over priced it,because Hardware isnt so easy to sell these days 2nd Hand unless your prepared to almost give it away.I've got 6 or so other synths For sale on a Music site,havent had so much as an Enquiry,but Its a bad time directly after Christmas period with People feeling the Excess,but you can bet your bottom Dollar that if they were listed at half the price,I would have more than enough tyre Kickers wanting to buy,but I'm not the sort of person who will sell for the sake of it the items are listed at the current market value Someone will pay the current market values its just finding the right time and buyer and that won't happen at the flick of a wrist

You may have better Luck with Ebay..
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KingJ
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Joined: 25 Sep 2007
Posts: 188
Location: United States

PostPosted: Thu Jan 10, 2008 2:13 pm    Post subject: Reply with quote

If I sold my XS6 on EBay for 1600 dollars, and the buyer used PayPal, do you know how much I would have to pay in fees? Also, I've never sold anything on EBay before, so I have no feedback. That could lead people to falsely believe that I'm trying to rip them off. What do I do?
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Kontrol49
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Joined: 04 Mar 2006
Posts: 1280

PostPosted: Thu Jan 10, 2008 4:55 pm    Post subject: Reply with quote

KingJ wrote:
If I sold my XS6 on EBay for 1600 dollars, and the buyer used PayPal, do you know how much I would have to pay in fees? Also, I've never sold anything on EBay before, so I have no feedback. That could lead people to falsely believe that I'm trying to rip them off. What do I do?


You don't have to use Paypal,you can offer a cash on collection,obviously this is better if the Buyer is localish or doesn't mind a Drive to pick up said Item,plus it saves you the hassle of Shipping it,and the worry of dodgy Courier/Parcel companies damaging said synth,you only have to pay Listing fee and then percentage of the final sale price to Ebay

I sold 3 synths on Ebay all of which the Buyers collected,its better to do it this way,especially the weight or if you have nothing to transport the synth in safely

true about your Zero Feedback,but everyone has to start somewhere,I have 65 Positive feedback ratings,yet I still had no bids on My Oasys,didn't put this down to lack of feedback,but some Ass on this forum posting a Warning to all Oasys listings on ebay,well Zero feedback or not this has well and truly f***ed it up those of us who are genuine sellers,so to that Guy I say thanks alot you complete moron.....

your not alone in people thinking that every potential Ebay user selling a synth is a fraudster,so I can see why you would be hesitant,doesn't help when you got gobshite idiots crying wolf with every Oasys sale who ruin it for genuine sellers..


Do you not have some sort of Local online advertisment bargain pages???or your local Newspaper??
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MartinHines
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Joined: 21 Jan 2003
Posts: 3036
Location: Topeka, KS (USA)

PostPosted: Thu Jan 10, 2008 9:57 pm    Post subject: Reply with quote

KingJ wrote:
If I sold my XS6 on EBay for 1600 dollars, and the buyer used PayPal, do you know how much I would have to pay in fees? Also, I've never sold anything on EBay before, so I have no feedback. That could lead people to falsely believe that I'm trying to rip them off. What do I do?


If you have no eBay feedback, you might have more difficulty selling your Motif XS. I would suggest the following to counteract this problem:
1. State in your auction that you realize that people may be hesitant because you have no feedback. Tell them if they are concerned, have them send you a question via "Ask the Seller a Question" and you will provide them with your phone number so they can call you on the phone prior to bidding.
2. Have a friend with a digital camera take a number of high quality pictures of the actual keyboard, manuals. I buy the Picture Pak for $1.00 extra so people can Maximize the pictures. Make sure the pictures are taken in really good light. You are really trying to glamourize your keyboard photos. If you have real photos this will help people believe you have the item in hand. You might also take a photo of the Serial number and include the Serial Number in your auction text.
3. Before you take the pictures have a friend wipe the entire keyboard with a clean cloth lightly dampened with water, then immediately buff using another clean cloth. Finally vacuum the keyboard so there is absolutely no dust on it at all.

Other Selling Tips
1. I would suggest either a Fixed Price or Buy It Now option
2. I would add a fixed shipping price separate from the item price. People look at shipping as a separate cost.
3. To price shipping, I would recommend boxing up the item, measuring the box and weighing it, then have a friend help you use the FedEx Ground shipping calculator, specifying a Zip Code on the other side of the country. FedEx Ground is cheaper than UPS Ground, and you should use one of these so you can provide a Tracking Number. Proof of delivery is especially important when you use Paypal, so you can prove the item was delivered (i.e. so they Buyer doesn't receive the keyboard then claim it never arrived)
4. I would suggest a 10-day auction, since it only costs 40 cents more
5. I like offering PayPal, since people can use their Buyer protections.
6. If you have all of the original documentation and the original packaging, say so in your auction. A Seller who includes everything a person would get if they purchased at retail helps convey the impression that the product has been well taken care of. This is contrasted with a Seller who has no original box or manuals, which conveys a carelessness (whether true or not).

Pricing
I looked on eBay's Completed Auctions, and the recent prices for Motif XS6's were:
-- $1725 + $60 shippping
-- $1525 + $175 shipping (also includes stand and pedals)
-- $1649 + $65 Shipping

If I were selling your item I would probably do a Fixed price item for $1650 plus a fixed shipping price. In my auctions, I always state "I will ship via FedEx Ground and provide a tracking number via email".

Fees
EBay and PayPal fees can add up. You can find the fees listed on the associated websites.

eBay Fees
If you sold for $1600, added the Picture Pak and 10 day listing, your listing fees would be $6.70. Your final value fees would be $42, bringing the total eBay fees on a $1600 sale item to $ 48.70. This represents a 3.04% cost.

PayPal Fees
PayPal fees are based on the amount of money transferred, which would include payment for shipping. I would GUESS a shipping fee of $65 (which you should verify), which would bring the total cash you receive to be 1600+65 = $1665. PayPal Fees are 2.9% +0.30, so in this case the PayPal fees for a $1665 transfer would be $ 46.70.

If you used both eBay and PayPal your total Fees would be $95.40, which would represent a cost of 5.96%.
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