How to price lens for resale

[Docarino]

I could use some advice about how to price a lens that I would like to sell (hoping to put some money in my UWA fund To those of you who sell used equipment, how do you decide how to price it? I want to sell my kit lens- it's the canon 28-135 f3.5-5.6 IS. I purchased it with my 50d in July 09 and used it exclusively for about 2 months- probably 2000-3000 exposures- and haven't used it since. It's in excellent condition. It's selling new on amazon at $350 and on hunt's and B&H around $400. Any recommendations as to what I should ask for? I'm thinking of selling it to a friend so I want it to be fair but I also don't want to grossly underprice it.

Thanks

 

[mom2rtk]

My first step is to see what is selling on ebay. Check completed items and what they sold for. Then check around at what it would cost to buy it new.

I was all ready to sell my kit lens, then realized that the camera is under an extended warranty and I probably need to keep it in case there is an issue or need for replacement.... so mine will sit here......

Good luck!

 

[bob100]

I could use some advice about how to price a lens that I would like to sell (hoping to put some money in my UWA fund To those of you who sell used equipment, how do you decide how to price it? I want to sell my kit lens- it's the canon 28-135 f3.5-5.6 IS. I purchased it with my 50d in July 09 and used it exclusively for about 2 months- probably 2000-3000 exposures- and haven't used it since. It's in excellent condition. It's selling new on amazon at $350 and on hunt's and B&H around $400. Any recommendations as to what I should ask for? I'm thinking of selling it to a friend so I want it to be fair but I also don't want to grossly underprice it.

Thanks

look at the buy/sell listings on www.photography-on-the.net/forum
(you have to register to see that section)

 

[pgowder]

My first step is to see what is selling on ebay. Check completed items and what they sold for. Then check around at what it would cost to buy it new.

I just sold a few thousand dollars worth of equipment on eBay. The completed auctions are your friend!

That gave a real good idea of the fair market value. But you want to price them slightly under that!

When I listed a lens that was selling for $450, I listed it at $400 with a $500 buy it now. It didn't sell. I relisted it for $300, and it sold for $515!

People love to bid on eBay!

 

[Docarino]

Thanks, that's good advice. I didn't think to check ebay completed auctions. I also didn't think about the warranty- do you think that I shouldn't sell the lens until the year warranty on the body/lens combination is up?

 

[Gdad]

I would check Ebay and KEH to see what they are going for used.

 

[mom2rtk]

I just sold a few thousand dollars worth of equipment on eBay. The completed auctions are your friend!

That gave a real good idea of the fair market value. But you want to price them slightly under that!

When I listed a lens that was selling for $450, I listed it at $400 with a $500 buy it now. It didn't sell. I relisted it for $300, and it sold for $515!

People love to bid on eBay!

Do be careful with ebay auctions though. They can and DO go for less than expected more often these days. Don't start it anywhere below the rock bottom of what you MIGHT be willing to accept....

 

[WDWFigment]

Do be careful with ebay auctions though. They can and DO go for less than expected more often these days. Don't start it anywhere below the rock bottom of what you MIGHT be willing to accept....

I disagree with this (sorry!). If you craft your listing well, have good (99-100%) feedback, and list the items at the right time, you will get market value or above nearly every time by starting the item at $.99. That is, unless you have a niche product that doesn't appeal to a lot of eBayers. In that case, follow mom2rtk's advice.

When I have mainstream products, I always start my listings at $.99. The insertion fees are cheaper and it gets more people watching. When I do sell niche items, I list them as my first 5 in a month, and put absurd starting prices (to compensate for the higher FVF eBay takes for those "free" listings). That strategy works okay, too.

 

[photo_chick]

Check out what places like B&H and Adorama are selling it for used as well.

 

[Gdad]

When I have mainstream products, I always start my listings at $.99. The insertion fees are cheaper and it gets more people watching.

+1 on this strategy- I don't do much on Ebay except for my personal camera stuff but over the last 3 years or so I have probably sold 25-30 lenses all starting at $.99 no reserve and (knock on wood) I have never been burned yet. Camera stuff seems to be fairly consistent and predictable on there.

 

[mom2rtk]

I disagree with this (sorry!). If you craft your listing well, have good (99-100%) feedback, and list the items at the right time, you will get market value or above nearly every time by starting the item at $.99. That is, unless you have a niche product that doesn't appeal to a lot of eBayers. In that case, follow mom2rtk's advice.

When I have mainstream products, I always start my listings at $.99. The insertion fees are cheaper and it gets more people watching. When I do sell niche items, I list them as my first 5 in a month, and put absurd starting prices (to compensate for the higher FVF eBay takes for those "free" listings). That strategy works okay, too.

I have to disagree, but it's probably because my experience is in a vastly different arena from camera and lens sales. I used to be a firm believer in this very strategy and did indeed start anything I auctioned at 99 cents and allowed it to find its natural value. It never failed. Within the past year, I have been disappointed time and again over the lower amounts people are bidding.

I am a Power Seller with 100% positive feedback over 3700. This has been built over a 7 year period on ebay. My listings have not changed, my items have not changed. But people are not willing to pay what they used to.

I appreciate your input though. I've been thinking of selling my relatively new Tamron 18-270 and initially ruled out an auction. So maybe I'll give it more thought since you guys have all promised me how that it will bring a fair amount......

 

[WDWFigment]

I have to disagree, but it's probably because my experience is in a vastly different arena from camera and lens sales. I used to be a firm believer in this very strategy and did indeed start anything I auctioned at 99 cents and allowed it to find its natural value. It never failed. Within the past year, I have been disappointed time and again over the lower amounts people are bidding.

I am a Power Seller with 100% positive feedback over 3700. This has been built over a 7 year period on ebay. My listings have not changed, my items have not changed. But people are not willing to pay what they used to.

I appreciate your input though. I've been thinking of selling my relatively new Tamron 18-270 and initially ruled out an auction. So maybe I'll give it more thought since you guys have all promised me how that it will bring a fair amount......

You're traditionally selling custom made dresses, right? When you saw the decrease in overall prices, did you see a decrease in the number of unique bidders per auction? The reason I ask is because many might consider your product a luxury item, and with the economy the way it is, less people are willing to bid on luxury items. The fewer the number of bidders, the less likely an item is to settle at its market price from a low price. From that perspective, maybe what you're selling has become more of a niche product over the last product over the last couple of years.

Conversely, I don't think photography equipment is a luxury to as many individuals (it obviously is to some), and is more mainstream, and thus the 'market' rules apply.

I really have no idea, I'm just guessing. I could be totally off-base. What I have noticed is the number of unpaid items has increased now that there is no negative feedback for buyers. Another brilliant move, eBay!

 

[pjacobi]

Since you are selling a high value electronic item on E-bay, make sure you know how a "charge-back" scam works and how to best protect yourself.


-Paul

 

[mom2rtk]

You're traditionally selling custom made dresses, right? When you saw the decrease in overall prices, did you see a decrease in the number of unique bidders per auction? The reason I ask is because many might consider your product a luxury item, and with the economy the way it is, less people are willing to bid on luxury items. The fewer the number of bidders, the less likely an item is to settle at its market price from a low price. From that perspective, maybe what you're selling has become more of a niche product over the last product over the last couple of years.

Conversely, I don't think photography equipment is a luxury to as many individuals (it obviously is to some), and is more mainstream, and thus the 'market' rules apply.

I really have no idea, I'm just guessing. I could be totally off-base. What I have noticed is the number of unpaid items has increased now that there is no negative feedback for buyers. Another brilliant move, eBay!

I actually never "auction" my costumes. They are all done BIN and business has never been better. Go figure.... I'm as surprised as anyone. It's the only reason I have stuck with ebay in spite of their "fine" business moves lately...

I have typically over the years auctioned a hodge podge of things, including my daughter's outgrown clothing, collectibles, and things that came from my mother-in-law's estate. Those are the type of things I have seen the decline in bidding on. I have also noticed prices dropping substantially on the things I BUY on ebay. I just don't feel as many people bid against me as used to.

Here's my new guess: My friend has been in the market for a used car for her daughter. They have had a hard time finding one. Since many people who used to buy new are now shopping used, the used cars are in more demand.

Maybe the same is happening with photography equipment. Maybe more people are attempting to be frugal and shopping the used listings on ebay????? Interesting creature, that ebay.....

 

[mom2rtk]

Since you are selling a high value electronic item on E-bay, make sure you know how a "charge-back" scam works and how to best protect yourself.


-Paul

For example.... most people don't know that for items over $250, you are REQUIRED to have someone sign for the delivery to be eligible for Paypal seller protection....

Other advice?

 

[WDWFigment]

I actually never "auction" my costumes. They are all done BIN and business has never been better. Go figure.... I'm as surprised as anyone. It's the only reason I have stuck with ebay in spite of their "fine" business moves lately...

I have typically over the years auctioned a hodge podge of things, including my daughter's outgrown clothing, collectibles, and things that came from my mother-in-law's estate. Those are the type of things I have seen the decline in bidding on. I have also noticed prices dropping substantially on the things I BUY on ebay. I just don't feel as many people bid against me as used to.

Here's my new guess: My friend has been in the market for a used car for her daughter. They have had a hard time finding one. Since many people who used to buy new are now shopping used, the used cars are in more demand.

Maybe the same is happening with photography equipment. Maybe more people are attempting to be frugal and shopping the used listings on ebay????? Interesting creature, that ebay.....

Well, I have no explanation for that! I have noticed the Disney 'junk' that I bid on has dropped fairly substantially in price, too. I figured the "luxury" rule applied there (not that the items are a luxury, just that they're unnecessary...for most...necessary for me!), but I really have no idea.

 

[mom2rtk]

Well, I have no explanation for that! I have noticed the Disney 'junk' that I bid on has dropped fairly substantially in price, too. I figured the "luxury" rule applied there (not that the items are a luxury, just that they're unnecessary...for most...necessary for me!), but I really have no idea.

Hmmm... "Disney" and "Junk" in the same sentence.... I'm having a hard time following......

I'm still back and forth on how to sell my lens though. Since I have the store, I'll probably stick a fairly high BIN on it and leave it sit for a while. If it doesn't sell, I'll drop it a bit....

My other theory is that Ebay has ticked off enough people that more online selling venues have gotten started and taken some of the traffic away. I'd like to know if that's true....

 

[Docarino]

Is it hard to get started selling things on Ebay? Would anyone buy something from me if it's the first thing I've sold and have no feedback? My Ebay and Paypal accounts were hacked about 3 years ago and I've been Ebay gun-shy every since.

 

[mom2rtk]

Is it hard to get started selling things on Ebay? Would anyone buy something from me if it's the first thing I've sold and have no feedback? My Ebay and Paypal accounts were hacked about 3 years ago and I've been Ebay gun-shy every since.

Since I'm not new to ebay, I don't pay attention to a lot of the stuff for new people. But I think they now do some restrictive things until your feedback is over 50 or some such number. I think they hold your Paypal funds until 21 days have passed or they have left positive feedback, which is kind of a hassle. I don't recall if this is true for every category, but am pretty sure it is for electronics.

I do think your bidding might be diminished if you are new with a 0 rating. If you think you might want to try selling again, I'd establish an id, then buy some things, sell some smaller things and get some feedback going.

And if you think bids will be affected by your low rating, then list it with a fixed price listing. People can buy it at that price or move on.