So you’ve taken great pictures of your item and now it’s time to choose the right price. List too high and your item won’t sell. List too low and you’ll be cheating yourself out of all the value of your used stuff.
Ugh, why does everything have to be so difficult? Not to worry. Here are some tips for picking the right price when selling on 5miles.
There is no perfect price
The first rule of finding the right price: There is no perfect price. Only one someone is willing to pay.
Just because you paid $500 for that DVD player when it was new doesn’t mean you are going to make your money back. And just because you think your ripped jeans are “vintage” doesn’t mean you’ll get a lot for them either.
People put too much value on their stuff all of the time. It is best to be realistic. Luckily there are ways you can be a better judge of how much they’re worth.
Take a look at your item’s condition
Take a good look at your item. Is there anything wrong with it? Does it function like it did when you bought it? Are all the pieces there? How scratched up is it? Any dings or rips?
Think about it from the buyer’s perspective. What grade would you give your item? You may want to haul in an A+ or 10 out of 10 rating worth of dough, but if your phone is barely passing with a C- be ready to accept lower offers.
Look at the market and other prices
Now that you have a pretty good idea of your item’s condition you can search 5miles and other sites to see similar items. Search for items with the same features and specs, and find items in a condition close to yours.
And don’t forget supply and demand. When there are a lot of items like yours the price is going to be lower. So try to sell your old phone before that new iPhone or Samsung model comes out, not after.
Take note of the price range for items like yours. Buyers love to haggle, so choose a price that’s a little on the higher end of the scale. This gives room for negotiation.
And if your item doesn’t sell right away you can always lower the price and use the Refresh function in 5miles to let buyers know you’ve lowered your price. But pretty soon your 5miles inbox will be blowing up with offers from buyers.
Got some other tips to sell your items fast? What kind of problems for sellers should we solve next? Let us know by reaching out on Facebook or Twitter or send us an email to hello@5milesapp.com.
Image credit: “Money Wallet” by 401(K) 2012 and “Device pile” by Jeremy Keith.
