Monday, April 18, 2016

How do I determine what an item is worth?

I get asked this simple question all the time and the easiest answer I can give is search sites like Ebay. In modern times this is the method most pawn shops use in determining value for an item before making you an offer.

There's an issue with doing this though as most will find their items and jump for joy when someone has a buy it now option set for some insanely high price. You have to ignore the buy it now listings and find auctions close to ending and look at the ones that actually have bids on them these bids are a great way to determine a final price for your items.

Another thing to consider when pricing an item is most people love to haggle for a better price so if you figure out the price you want to get for an item add a little to it for some wiggle room and when you barter you'll usually end up at or very close to your asking price this holds true at vending events, flea markets, yard sales, and it's no different in the online marketplace.


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