We're often urgent to sell some old gadget or furniture online, and it's become old enough that we're not necessarily sure how much it's worth anymore. While you don't want to overprice or underprice your used goods, when you've come upon a fair price your best bet is to hold out — even if you get low offers.
Photo by Kevin Dooley
Beks, over at Blogging Away Debt, found this out first hand. Trying to get rid of a bed on Craiglist, she found that good pricing is not only important, but patience as well:
After a week on Craigslist at $US50, we were contacted by precisely 1 interested person… who asked us to drop the price to $US25 without even seeing the bed. When my husband found out we had received an offer, he was angry I had turned it down. Confused, I went out to the garage and appraised the bed again. Was it really only worth $US25? Unwilling to admit defeat, I placed the set on Craigslist again with the exact same description and photos but priced it at $US130. 2 hours and 11 offers later, a local college student bought the set for $US130.
Timing can play a huge role in when something sells. Just because you have an unsuccessful sale one week doesn't mean you won't fare better in the next. It's hard to turn down an offer when you see the potential of making money now, but in most cases you're better offer waiting. If you find your stuff isn't selling, try what Beks did and change the price. You might have to go lower, but it's possible that you've been undervaluing your stuff, too.