Let's go Fishing!

It never ceases to amaze me the broad spectrum of value people can place on any given item. Some people feel that an item they paid $100 for 10 year ago is still worth $95. Others are happy to get $100 for something they paid $1,000 for just last year. Just when I think I have it figured out - what income level or class of people are going to feel which way - I experience a total flip flop. In any case, most people don't want to pay 'top dollar' for anything. When you give us something that is truly rare or hard-to-find, we will try to capitalize on this by fishing.

Fishing is simply putting an item up for sale on eBay for a 'fixed price' instead of the typical auction format. This 'buy-it-now' listing usually includes the option for buyers to make their 'best offer' and the ad will renew every month. This asking price is generally higher than what the casual shopper market will bear, which is why we are fishing for the perfect buyer and playing the waiting game. Oftentimes, if we wait long enough, someone will eventually agree with our (possibly) inflated value and either pay the asking price or at least make a reasonable offer. In some cases, we will consult with our consignor about the offer, but since we usually already know the true value of the item as well as your bottom line, we will take action. As a professional salesperson, I usually have a sense as to whether or not someone really did make their best offer or, if I can push them up some. While you might think we would automatically respond to every offer with a counteroffer - this is not always true. When someone makes an offer through eBay, the process basically commits them to making the deal. So if I respond with a counter-offer and give them time to think about it even more - they may change their mind and become the one that got away. Going back to that gut feeling if you will, I have gotten pretty good at figuring out if someone will walk away or not, even for just a few more dollars. Depending on the type of item we are talking about and what I can tell about them based on their buying history - (looking at their feedback and related items) - I make a judgment call. All of this happens while you are at work, at home sleeping, or on vacation fishing for actual fish.

As I've probably mentioned elsewhere, there is always a monetary trade-off for selling a given item sooner rather than later. As a consignment store, we can't pay our bills by simply advertising things and not selling them. As your broker, we will help you come to terms with the fact that your 'vintage Adidas' are not on par with Dorothy's Ruby Red Slippers. Rest assured that with any item, we are savvy enough to know it's approximate value and since we have a vested interest, we will always try to market your valuables to obtain the best possible results.

 

Submitted by Mike on September 9, 2012

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