This October, The North Kingstown Marketing Company will be open Wednesday nights from 6 pm to 8 pm for “What It’s Worth Wednesdays.”
I have been selling items as well as consulting others on the practices of ebay for over 10 years. One of the most common questions I get from sellers is “How much is my item worth?” Great question and honestly, the make or break question whether you should list an item on ebay or donate it to a worthy charity. A lot of sellers struggle with the personal connection to an item and make the common mistake of overpricing an item. In addition, some sellers view an item as being “vintage” or “antique” or “collectible” and estimate their item too high for its actual value, which may be next to nothing. Here are some helpful tips on pricing out your item on ebay:
- If in doubt, get an appraisal. There are a number of antique, art, collectible appraisers in Rhode Island who can give you the good or bad news about your item. These appraisers can give you a letter of authenticity or validation that your item is worth listing for top dollar. Or, they can tell you that based on their knowledge and expertise, your item is not worth listing.
- Utilize the common e-commerce sites such as ebay and Amazon. Search for your item on these popular e-commerce sites. Once you find your item, check to see if the seller is an individual or business. Most times, individuals will price items based on what the item is worth to them, personally. Again, this is where the personal connection to an item tends to get you in trouble with overpricing your item. More often than not, business sellers will list items closer to their actual value. The business seller uses facts, costs of goods, cost of doing business to determine the price of an item, especially a used item.
- Is your item functional, clean, good working order, broken? When you look at your item, are there glaring cosmetic marks like rust or dings or scratches? Then, you need to price your item according to the condition of the item. If you item is not working 100%, you need to price your item according to its function. For example, a vintage 1970’s Gibson acoustic guitar with original parts, is in tune, has no wear on the wood, and plays as it should garner a decent price on ebay. Conversely, that same 1970’s Gibson with a visible warp, is missing one of the tuning pegs, and has chips in the bridge, should be priced much lower than the 1970’s Gibson in very good condition. Even if the guitar is considered an antique or vintage item, if the function is not 100% nor are the cosmetics 100%, I would not advise a seller to put an over inflated price just because it is considered a vintage Gibson guitar.
If you would like more information on the value of your item or would like to determine whether or not your item could sell on ebay, I encourage you to come to my “What Its Worth Wednesday” workshop. Every Wednesday night from 6 pm to 8 pm at my office at 7630 Post Rd, you can bring your item into me for a free evaluation. Additionally, if you would like me to list your item on ebay, I can do so for a fee. My fee for listing items is 20% of the sale price, so there is no money needed upfront to list an item. Plus, I take care of the shipping and taxes on the item.
If you would like to learn more about my “What its Worth Wednesday” program, email me at firstname.lastname@example.org or call my office to make an appointment – 401.583.7171. My ebay store can be accessed by clicking this link.
The North Kingstown Marketing Company
Member of the North Kingstown, Newport, and Southern RI Chamber of Commerce
7630 Post Rd., 2nd floor