Pricing jewelry is an art form. It can be truly confusing. You don't want to price it too high and you don't want to price it too low. If you price it too high it will stay in your store forever, and if you price it too low you don't make enough profit.
A good way to determine how much to list your product for is by looking at the past sales. This is one of the gems of knowledge eBay provides. It really helps sellers figure out how much their products could sell for, not just how much people are asking for them.
Steps to choose correct eBay filters
1) Write in the search bar at the top a basic search term that describes your item. For our example, we will use the term "coral necklace".
2) On the left hand side of ebay.com, there are bunch of filters, you can select from.
3) Check the following filters, scroll down as you need to:
- Format check off - all listings.
- Location check off - United states. (This is very important because if you do not check this off you will see completed sales from China which can show drastically different prices compared to what is sold within the country.)
- Show only - check off Sold listings. You can also check off Completed listings. However ebay does not allow you to check off both. If you check off completed listings, it will give you an idea of the pieces that also didn't sell. However we like to just get down to business and see what items actually SOLD for.
Now the Price
After you gather your data, you will have to decide on your pricing strategy. Do you want to sell quickly and make less profit (per item), or would you rather want to wait and make more money?
If you decide to sacrifice your margins then choose a press less than the average. On ther hand, if you are patient then user price higher than average. I strongly advise againts using maximum or minimum price as your guide.
Let's take an example here, say the lowest price a similar necklace was sold for $12 and the highest it sold for was $24 then you could price it $20 or $16.
Of course, this is not exact science, so be open to experimentations, as ebay trends changes quickly.
If you are stuck and need help with trying to figure out how much your jewelry piece might sell for, feel free to contact us. We enjoy being a help to our customers success.