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Selling your Stuff? Know the Difference Between Fixed Price and Auction Selling

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There’s more to selling your things than just putting a price and having them on display. Oftentimes there’s a lot of factors to determine the price of your items. But depending on how you’re going to sell it, you might be able to make your life a bit easier.

In the Philippines, an auction is a perfectly valid way of selling off your stuff. However, it’s only as effective as the value of your item. You might as well just sell it with a fixed price for you to be aware of the profit that you’ll make.

Either way, you have to choose between going for a fixed price or auctioning your items when you plan on selling it. To learn more about the two and which one would probably benefit you more, check out this article.

Fixed Price Selling

This is the basic kind of selling because you only have to set a price for a certain item. It’s one price for one item.

This way, you’ll know exactly how much you’re going to make once you sell it. However, it also limits the range of people who would buy it.

When you’re selling items on a fixed price, it’s slightly harder to get people to buy it, especially since it’s second-hand.

The best way for you to profit from this is to fully compute its value to you, and how much turnover you want to yield.

This is the best option for you to sell if you have multiple of the same items.

In e-commerce websites, this option is a much faster way to sell things because you can get paid for it sooner because you can mandate the payment option.

Auction Selling

For you to consider auction selling, you have to take into consideration a few important factors.

First off, you should be sure that you’re selling something that’s in-demand, even for a select niche of people. A good example would be collectors’ items such as a limited-edition action figure, a historical artifact, a hot product, antiques, etc.

As long as there’s a good demand for the item you’re selling, it’s a good option for you to sell it through auctions. This is important because otherwise, you might not be able to profit from auctioning something.

Key Takeaway

In summary, the best circumstances wherein you should sell with fixed prices is when you have multiple of the same item that’s in demand.

When it comes to auction selling, you have to make sure that the item you’re selling has a specific niche that would be interested in buying it for a high price. The more people who are interested in your topic, the higher its asking price will be.

At the end of the day, you have the final say of whether or not you’ll go for fixed-price selling or auction selling. Auctions are slowly becoming more popular in the Philippines, so if you have a cool item that you want to sell, you might as well try auctioning it out!

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