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
Community AdviceCMay2CK 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 AdviceEaglemom writes:
Community Advicefjrogers1 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.
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