Do not use auction format! You can sell faster at auction but usually you will not get top price. Find out how much an item usually sells for at auction and then list your item as a Buy It Now for 20% more. Be patient - it may take up to six months to sell but you will sell it eventually for more money. If you must use auctions then start your auction out at 15% lower than normal sell price with a Buy It Now that is 15% more than normal sell price. Most of the time someone will use the Buy It Now to avoid loosing it at auction. There is a certain item that I sold at auction last year for $27 and this year sold two of them Buy It Now for $65 each!
Only use auction format for extremely hot items that are rare and very few are listed... something you are sure people will fight over. You won't find items like these very often.
If you start your auctions at $1 and hope they do well YOU WILL LOOSE MONEY.
This is the worst mistake I made my first year. Do not be afraid to overprice - you can always discount later. If someone really wants an item they will usually make an offer anyway.
There was another item that I bought for myself for $50 that I wanted to keep. It was worth about $150. My wife wanted me to sell it so (without telling her) I over priced it so it would not sell. After seven months someone bought it for $350! I was not upset at all to sell this item for that price!
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