Pricing New Products for eBay via Mobile

So let’s say you’re out at a store that’s slashing prices to liquidate stock. Lots of merchandise seems very resalable to you, but which will net the most profit?

My personal arsenal of tools for determining the sales potential of merchandise lies in my smartphone. All products have a scannable, numeric-based, Universal Product Code (UPC or barcode). Every product has a unique barcode, all of which follow an identical format (as shown in Figure 2-1).

FIGURE 2-1: A sample layout for the UPC found on all products for sale.

This barcode carries information about a product and pricing for retailers and is scanned when you purchase a product. The barcode covers two steps in managing a retail business: monitoring the purchase and tracking inventory.

That all said, scanning a product prior to buying it and putting it up for sale will help you make smarter business decisions. Of course, your go-to app would be the eBay app, which is available for iPhone, iPad, and Android devices. You can use mobile apps on your smartphone, tablet, or phablet (a popular term for larger smartphones that double as small tablets). Figure 2-2 shows the eBay app on my Android tablet.

FIGURE 2-2: The app appears pretty much the same on most tablets and smartphones.

When you tap within the Search text box, your previous searches appear. There’s a Search box, prompting you to type in your search query or (in the upper right) to dictate your search (on Android), search by picture or to scan a barcode, as shown in Figure 2-3.

FIGURE 2-3: Click here to activate the barcode scanner.

To scan a barcode, click the icon to fire up the scanning module. Scanning uses your camera to read the barcode, so line up your camera and center the barcode within the scanning boundaries shown in Figure 2-4.

FIGURE 2-4: Scanning a barcode with the eBay app.

Android phones also give you the option to tap the microphone icon on the app and say the product name. Miraculously, the name will appear in the Search box and give you results for your search.

The results of your search will show items matching your search that are currently being sold on eBay. By clicking the Refine option, you can narrow your search to Sold items and get an idea of whether the item is actually selling on eBay — and for how much.

On the off chance that the item is not being sold on eBay, you can use Google shopping to compare prices for your item, whether on the web or close to your home.

I’m also a fan of searching for the item on the Amazon app, Walmart, and Pricegrabber.com. You can never have too much information about your item.

Finding Pricing Trends on eBay

If you’re just starting out on eBay, chances are you like to shop and you also collect items that interest you. You’ll find out early in your eBay adventures that a lot of people online know as much about collecting as they do about bidding — and some are serious contenders.

UNDERSTANDING GRADING TERMS

One of the keys to establishing value is knowing an item’s condition, typically referred to as an item’s grade. The following table lists the most common grading categories that collectors use. The information in this table is used with permission from (and appreciation to) Lee Bernstein.

Category (Also Known As)	What It Means	Example
Mint (M, Fine, Mint-In-Box [MIB], 10)	A never-used collectible in perfect condition with complete packaging (including instructions, original attachments, tags, and so on) identical to how it appeared on the shelf in the original box.	Grandma got a soup tureen as a wedding present, never opened it, and stuck it in her closet for the next 50 years.
Near Mint (NM, Near Fine, Like-New, 9)	The collectible is perfect but no longer has the original packaging or the original packaging is less than perfect. Possibly used but must appear to be new.	Grandma used the soup tureen on her 25th anniversary, washed it gently, and then put it back in the closet.
Excellent (EX, 8)	Used, but barely. Excellent is just a small step under Near Mint, and many sellers mistakenly interchange the two, but Excellent can have very minor signs of wear. The wear must be a normal, desirable part of aging or so minor that it’s barely noticeable and visible only upon close inspection. Damage of any sort is not “very minor.” Wear or minor, normal factory flaws should be noted. (Factory flaws are small blemishes common at the time of manufacture — a tiny air bubble under paint, for example.)	Grandma liked to ring in the New Year with a cup of soup for everyone.
Very Good (VG, 7)	Looks very good but has defects, such as a minor chip or light color fading.	If you weren’t looking for it, you might miss that Grandma’s tureen survived the ’64 earthquake, as well as Uncle Bob’s infamous ladle episode.
Good (G, 6)	Used with defects. More than a small amount of color loss, chips, cracks, tears, dents, abrasions, missing parts, and so on.	Grandma had the ladies in the neighborhood over for soup and bingo every month.
Poor (P or G-, 5)	Barely collectible, if at all. Severe damage or heavy use. Beyond repair.	Grandma ran a soup kitchen.

Grading is subjective. Mint to one person may be Very Good to another. Always ask a seller to define the meaning of the terms used. Also, be aware that many amateur sellers may not really know the different definitions of grading and may arbitrarily add Mint or Excellent to their item descriptions. This is where telling the story is better with many pictures accompanying the description.

How can you compete? Well, in addition to having a well-planned bidding strategy (covered in Book 1, Chapter 6), knowing your stuff gives you a winning edge. I’ve gathered the opinions of two collecting experts to get the info you need about online collecting basics. I also show you how one of those experts puts the information into practice, and I give you a crash course on how items for sale are (or should be) graded.

The values of collectibles go up and down. Star Wars items are a perfect example. Values skyrocket during the release of the latest movie, but then settle to a considerably lower level. Any published book of value listings is valid only for the moment the book is written. If you stay on top of your market in a few specialties, you’ll be aware of these market fluctuations. If you’re looking for the highest price for Star Wars items, for example, instead of looking to liquidate excess inventory, I’d hold those items until they hit the pop culture charts again.

Determining the “going price” of a particular item on eBay is as simple as performing a Completed Items search. I acquired a few vintage (mint) ashtrays from Disneyland, so join me as I check out the value.

Type in the keywords in the Search text box at the top of every page and click the Search button.

The resulting page shows you how many items that match your keywords are being sold on eBay at that moment. If you get too many results, add an extra keyword that further defines your item and repeat the search. I found 164 active listings (as shown in Figure 2-5).
Scroll down the page and look at the images of items for sale, making note of which ones actually match your item.

From here, you get an idea of the prices that sellers are asking.
In the column on the left, under Show Only, choose an option. They are
- Sold Listings: Shows you only the items that actually sold. To get an idea of the highest price I can get for the item, I used the sort option at the top of the page, shown in Figure 2-6, by selecting Price: Highest First from the Sort drop-down menu. What an eye-opener! These results showed me exactly which variations of my item were the most valuable — and which keywords work the best to attract customer’s eyes.
- Completed Listings: Clicking this option shows you how many listings have run their course and are over. If the item sold, the final price is indicated in green text. If the item hasn’t sold, you see the final price in red. By studying this data, you can get an idea of a good starting price to set for your item to encourage sales and higher bids.
For the deepest research, click the individual items that garnered the highest prices and see how the seller described the item.

Smart sellers tell the stories behind collectibles and add appropriate keywords to their titles!

FIGURE 2-5: One hundred sixty four listings matching “Disneyland Ashtray” up for sale.

FIGURE 2-6: Sort search results for Sold listings with highest prices first.

In my search, I see listings for the same item that sold from $7.99 up to $103! Why? First it depends on the style and year of issue. Next, the sellers who received the lowest final sale prices put their items up for sale when several others were selling the same item. eBay is a supply-and-demand venue. Even if an item is rare, the final sale price will go down if there are too many up for sale.

Following Collectible-Buying Guidelines

Buying collectibles on eBay can be a unique market unto itself. But certain rules still apply. Here are a few things to keep in mind when buying collectibles on eBay:

Get all the facts before placing a bid or clicking Buy. Study the description carefully and make your decisions accordingly. Find out whether all original parts are included and whether the item has any flaws. If the description says that the Fred Flintstone figurine has a cracked back, message the seller for a picture.
Don’t get caught up in the emotional thrill of bidding. First-time buyers (known as Under-10s or newbies because they have fewer than ten transactions under their belts) tend to bid wildly, driven by emotions. If you’re new to eBay, you can get burned if you just bid for the thrill of victory without first thinking about what you’re doing.

I can’t stress how important it is to determine an item’s value before you bid. But because value is such a flighty thing (depending on supply and demand, market trends, and all sorts of reasons), I recommend that you get a general idea of the item’s current value and use this ballpark figure to set a maximum amount of money you’re willing to bid for that item. Then stick to your maximum and don’t even think about bidding past it. If the bidding gets too hot, there’s always another auction. To find out more about bidding strategies, Book 1, Chapter 6 is just the ticket.
Know what the item should cost. Buyers used to depend on price guides — books on collectibles and their values — to help them bid. But price guides are becoming a thing of the past. Sure, you can find a guide that says a Lion King Broadway poster in excellent condition has a book price of $75, but if you do a search on eBay, you’ll see that they’re actually selling for under $20. (Hint: When was that guide published, anyway?)

When your search on eBay turns up what you’re looking for, average the sold prices that you find. Doing so gives you a much better idea of what you need to spend than any price guide can.
Timing is everything, and being first costs. In the movie-poster business, if you can wait three to six months after a movie is released, you get the poster for 40 to 50 percent less. The same goes for many new releases of collectibles. Sometimes you’re wiser to wait and save money.
Be careful of presale items. You may run across vendors selling items that they don’t have in stock at the moment but will ship to you later. For example, before the second Harry Potter film came out, some vendors ran auctions on movie posters they didn’t have in their possession. If you had bid and won, and for some reason the vendor had a problem getting the poster, you’d have been out of luck. Do yourself a favor and don’t bid on anything that can’t be delivered as soon as you make payment.
Being too late can also cost. Many collectibles become more difficult to find as time goes by. Generally, as scarcity increases, so does desirability and value. Common sense tells you that if two original and identical collectibles are offered side by side, with one in like-new condition and the other in used condition, the like-new item will have the higher value.
Check out the seller. Check the seller’s feedback rating (the number in parentheses next to the person’s User ID) before you buy. If the seller has many comments with very few negative ones, chances are good that this is a reputable seller. Better yet? If you find a Top Rated Seller badge next to the seller’s name, you can pretty much count on a positive experience.

If you miss winning an auction and are offered a side deal, beware! Side deals off the eBay site are strictly prohibited. If you conduct a side deal and are reported to eBay, you can be suspended. Not only that, but buyers who are ripped off by sellers in away-from-eBay transactions shouldn’t look to eBay to bail them out. They’re on their own. Second-chance offers, on the other hand, are eBay-legal — and safer.

Quizzing the seller

You should ask the seller certain questions when making a collectible purchase. Assume that the object of your desire is an open-box GI Joe action figure from 1964 to 1969 (by the way, these items are selling for top dollar as I write this book!). In this section, I list some questions you should ask. The information here can give you an idea of what to ask when determining your maximum bid on other collectibles as well (or whether an item is even worth bidding on). As you imagine, the more you know before you place a bid, the happier you’re likely to be when you win.

This checklist can save you considerable hassle:

Find out the item’s overall condition. For GI Joe, look at the painted hair and eyebrows. Expect some wear, but overall, a collectible worth bidding on should look good.
Be sure the item’s working parts are indeed working. Most GI Joe action figures from this period have cracks on the legs and arms, but the joints should move and any cracks should not be so deep that the legs and arms fall apart easily.
Ask whether the item has its original parts. Because you can’t really examine actual items in detail before buying, email the seller with specific questions relating to original or replacement parts. Many GI Joe action figures are rebuilt from parts that are not from 1964 to 1969. Sometimes the figures even have two left or right hands or feet! If you make it clear to the seller before you buy that you want a toy with only original parts, you’ll be able to make a good case for a refund if the item arrives as rebuilt as the Six Million Dollar Man.
Ask whether the item has original accessories. A GI Joe from 1964 to 1969 should have his original dog tags, boots, and uniform. If any of these items are missing, you will have to pay around $25 to replace each missing item. If you’re looking to bid on any other collectible, know what accessories came as standard equipment with the item.
Know an item’s value before you bid. A 1964 to 1969 vintage GI Joe in decent shape, with all its parts, sells for around $500 without its original box. In a recent auction, a “1967 GI Joe Green Airborne MP Set RARE Excellent” — without box — sold for $850. If you are bidding on a GI Joe action figure and are in this price range, you’re okay. If you get the item for less than $400, congratulations — you’ve nabbed a serious bargain.
If you have any questions, ask them before you bid. Check collectors’ guides, research similar auctions on eBay, and Google the web for unbiased third-party advice.

Hey, experts have been buying, selling, and trading collectible items for years. But just because you’re new to eBay doesn’t mean you have to be a newbie for decades before you can start bartering with the collecting gods. I wouldn’t leave you in the cold like that — and neither would eBay. You can get information on items you’re interested in, as well as good collecting tips, right on the eBay website. Visit the category-specific discussion boards in the Community area. You can also search the rest of the web or go the old-fashioned route and check the library.

Consider visiting Terapeak.com, where you can find up to three years of eBay items and sales in a searchable database. They offer a 7-day free trial (with no credit card required) so you can give it a try.

Learning by reading

I used to recommend that buyers and sellers research items by going out to the local newsstand and buying a special-interest magazine based on the type of merchandise they sell. With the advent of digital publishing, finding current printed magazines is like hunting up a tool from the past. On the other hand, you may be able to find vintage copies of magazines for sale on the web, eBay, or Amazon. These magazines contain a wealth of knowledge — but remember that those articles were written at an earlier stage of the items’ rarity and salability; be sure to check current market conditions. You can also find websites that specialize in selling back issues of magazines like www.biblio.com.

Following are a few publications (some have current websites) that can offer strategic information on collectibles:

Action Figure Digest: Find out details about the vintage action-figures biz in this monthly magazine that ceased publication around 2007.
Antique Trader: This magazine has been the bible of the antiques collecting industry for more than 40 years. Visit its online home at www.antiquetrader.com for more articles and subscription information.
Autograph Magazine: This online magazine gives the lowdown on the autograph business, as well as samples of many autographs for identification. Its site, www.autographmagazine.com, features many current articles.
Barbie Bazaar: Once this was the official Mattel magazine, packed with everything Barbie! You’ll not find a website, but back issues of these magazines have valuable information on Barbie collecting.
Dolls Magazine: Still alive and with an active website, Dolls Magazine is filled with good info. Check the site at www.dollsmagazine.com.
Coin World: This respected magazine has many online services available for a free registration on their website, at www.coinworld.com (featured in Figure 2-7).
Goldmine: At www.goldminemag.com, this place is the hub for CD and vinyl collectors. The website has many current articles and information on rare issues.
Numismatic News: Another standard, Numismatic News is still publishing a print edition after more than 50 years. The website at www.numismaticnews.net has valuable current information for coin collectors and offers downloads with current coin values and identification information.
Sports Collectors Digest: Takes sports collectibles to the highest level. Visit the website at www.sportscollectorsdigest.com, read the stories, and sign up for a free email newsletter.
Linn’s Stamp News: Still alive and kicking on the web at www.linns.com is the venerable Linn’s Stamp News. First published in 1931, the magazine carries on a tradition for stamp collectors on its website.
Teddy Bear & Friends: If you’re looking for information on collecting teddy bears, www.teddybearandfriends.com is the place.

It seems that every leading magazine is now digital and has its own website. In the next section, I mention some useful sites for pricing references.

Online Sources of Information

Because you’re all so Internet-savvy (what’s better than getting the information you want at a millisecond’s notice?), I assume you plan to visit the magazine websites that I mention in the preceding section. In this section, I give you a few more fun online sources where you can pick up some more insight about your items.

Other websites

Many websites devoted to different collectible areas list prices at recently completed auctions. These auctions are the best evaluation of an item’s value because they’re usually directed toward specialists in the collectible category. Most of the participants in these auctions really know their stuff.

You may have to poke around the following websites to find the prices realized at auction, but once you do, you’ll have the Holy Grail of estimated values. Look for links that point to auction archives. Many of these sites will consign an item from you as well, and sell it to their audiences:

Artprice: This art auction site, at www.artprice.com, charges for its searches by artist but has an immense database.
Autographs and More — now part of Heritage Auctions: Heritage has a huge free collection of collectible resources at https://www.ha.com/.
Collectors.com: This is a major destination for coins, cards, stamps, and more at www.collectors.com.
Promotional Glass Collector’s Association: For collectible advertising glasses, check out this at www.pgcaglassclub.com (you’ve got to see this stuff!). And there’s an online database of items at www.glass411.info.
Professional Coin Grading Service: Find a U.S. coin-collecting price guide at www.pcgs.com/prices.
Lyn Knight Auctions: Find currency auctions at www.lynknight.com.

If you’re researching prices to buy a car on eBay, look in your local newspaper to get a good idea of prices in your community. You should also check out sites on the Internet. I’ve had many of my friends (and editors) visit the various sites, and we’ve settled on www.nadaguides.com because it seems to give the most accurate and unbiased information.

Online search engines

If you don’t find the information you need on eBay, don’t go ballistic — just go elsewhere. Even a site as vast as eBay doesn’t have a monopoly on information. The Internet is filled with websites and Internet auction sites that can give you price comparisons.

Your tablet, phone, or computer can connect to powerful outside servers (really big computers on the Internet) that have their own fast-searching systems called search engines. Remember, if something is out there and you need it, you can find it in just a matter of seconds. Here are the addresses of some of the web’s most highly regarded search engines or multi-search-engine sites:

Google (www.google.com)
Bing (www.bing.com)
Yahoo! (www.yahoo.com)

The Internet abounds with news that with Verizon merging with Yahoo! and AOL, the result will become Oath. http://www.businessinsider.com/aol-and-yahoo-will-become-oath-after-merger-closes-2017-4. Yet at the time of this book’s publication, it doesn’t look like the Yahoo! brand will be going away soon (https://www.cnbc.com/2017/04/04/aol-yahoo-merger-name-oath-is-about-linking-brands-and-values-aol-ceo-says.html).

The basic process of getting information from an Internet search engine is pretty simple:

Type the address of the search-engine site in the Address box of your web browser.

You’re taken to the website’s home page.
Find the text box next to the button labeled Search or something similar.
In the text box, type a few words indicating what interests you.

Be specific when typing search text. The more precise your entry, the better your chances of finding what you want. Look for tips, an advanced search option, or help pages on your search engine of choice for more information about how to narrow your search.
Click the Search (or similar) button or press Enter on your keyboard.

The search engine presents you with a list of Internet pages that have the requested information. The list includes brief descriptions and links to the first group of pages. You’ll find links to additional listings at the bottom if your search finds more listings than can fit on one page (and if you ask for something popular, like Twilight, don’t be surprised if you get millions of hits).

There will also be a link to click that will show you images that match your search — if you’re not quite sure in identifying your item. Find the picture that matches the item to find out more.

Always approach information on the web with caution. Not everyone is the expert he or she would like to be. Your best bet is to get lots of different opinions and then boil ’em down to what makes sense to you. And remember — caveat emptor. (Is there an echo in here?)

Authentication services

Some companies provide the service of authenticating (verifying that it’s the real deal) or authenticating and grading (determining a value based on the item’s condition and legitimacy). To have these services performed on your items, you’ll have to send them to the service and pay a fee.

Following are a few excellent sites for grading coins:

Professional Coin Grading Service (PCGS): This service, at www.pcgs.com, is considered to be the top of the line in coin grading. This company’s standards are strict, but coins graded by PCGS usually sell for higher prices.

To catch up on the latest pricing on American coins, go to PCGS. This site has an elaborate online price guide for all coin grades.
American Numismatic Association Certification Service (ANACS): This service was sold to Amos Press in 1990, and you can find out more at www.anacs.com.
Numismatic Guaranty Corporation of America (NGCA): The site, www.ngccoin.com, offers information as well as a mail-in grading and certification service for your coins.
PCI Coin Grading Service (PCI): PCI, the longstanding coin-grading service at http://pcicoins.com, is under new management (see Figure 2-8).

FIGURE 2-8: The PCI website has many links and an up-to-date price guide at no charge.

Stamp collectors (or those who have just inherited a collection from Uncle Steve) can get their stamps authenticated by the American Philatelic Society. Visit this site for more information: http://stamps.org/Stamp-Authentication.

For comic books, Comics Guaranty, LLC (CGC) at www.cgccomics.com/grading will seal (enclose in plastic to preserve the quality) and grade at a discount for eBay users.

Sports cards and sports memorabilia have a bunch of authentication services. If you acquired your autograph or item of memorabilia directly from the player or team, you can ensure its authenticity. Having the item authenticated may or may not get you a higher price at eBay. Try these sites:

Professional Sports Authenticator (PSA): Go to www.psacard.com for more info.
Online Authentics: This service, at www.onlineauthentics.com, reviews autographs by scans online or by physical review.

The best way to find a good authenticator in your field is to search the items on eBay and see who is the most prominent authenticator listed in the descriptions. For example, in the coins area, coins from certain grading services get higher bids than those from other services. You can also go to an Internet search engine (such as Google or Yahoo!) and type the keywords coin grading (for coins). You’ll come up with a host of choices; use your good sense to see which one suits your needs.

Not all items need to be officially authenticated. Official authentication does add value to the item, but if you’re an expert, you can comfortably rate an item on your own in your auctions. People will know from your description whether you’re a specialist. Your feedback will also work for you by letting the prospective bidder or buyer know that your merchandise from past sales has been top-drawer.

Researching Collectible Prices