Question: Setting Auction Prices

How do you determine the starting bid for an auction item? And should you put starting bids on everything?

Asked by Eaglemom

Answers:

Community Advice

CMay2CK writes:
We start our auction bids at 25-30% of the retail value. And yes, everything should be clearly labeled with starting bids, bid increments, etc.

Community Advice

Eaglemom writes:
Thank You.

Community Advice

fjrogers1 writes:
I do it similar to CMay2CK. Decide on a percentage of the value. My bid increments are based on the starting bid (anywhere from $1 - $10). We're a public school with a wide range of economic backgrounds, so I like to have things for everyone. Starting bids are important too. I like to keep it low so people aren't afraid to start the bidding.