6. Setting the right price
Play the tutorial
Imagine you’re the buyer… how much would YOU want to pay for your item? Have a bit of fun researching what you could sell it for. Do this by typing your item into the Tradem search button and looking at the range of prices this item is on offer for.
You can then decide whether your item is in better or worse condition than the ones already on Tradem, and use their prices as a guide to set your own.
If you can’t find your item on Tradem, find out how much a new one costs from online shops or high street stores. We recommend that you ask your responsible adult what percentage of the original price you should sell yours at… it will depend on the condition of course, and also how popular the item is!
For those items that you see lots of, perhaps you want to come down in price to be the most competitive out there. If you are competitive, it means you are offering an attractive price that beats the other prices.
For those rare items that are hard to come by, you may want to price your item a bit higher!!
If your item doesn’t sell, you might want to revisit it and rethink the price.
There are lots of reasons why prices differ… these are called variables… they include: age, condition, and popularity… no price is set in stone.
On that note… don’t forget to take into account how much your item will cost to send. Have a look at our ‘Posting your item’ tutorial to work this out. If it costs too much to send, then it could put others off buying it.