Why does this work?

[Teddyrose54]

I had a friend for many years who sold vintage. If he had a piece that wasn't selling he always put the price up.

Then it normally worked and it sold. I could never work out why that happened. Normal people lower their price. Jack raised his.

Has anyone else tried this? Did or didn't it work?

[VernaCrafts]

I've heard of people doing this. You have to be careful not to price yourself out of your market, but then again there are people who equate high prices with quality...I haven't tried it myself.

[Teddyrose54]

I knew a trader who sold watches. At the car boot sales he sold them for £5. At the local market they were £15. But at the monthly collectors and antique fairs they were £35. Same watches, different venues. They sold well at each venue. Guess selling venue also plays it's part.

[Texaswoman]

Interesting topic Teddy! I too have seen it go both ways...and sellers who swear by their methods. Personally, I have tried it and find that lowering prices on earrings works, but not on my higher ticket pieces. I have even lowered a price when I saw a number of people watching an item on Ebay...but it didn't make a difference. Have  learned since then that a lot of those "watchers" are in fact sellers who were just interested in seeing if you were going to sell it! What a CRAZY game this is huh?

[Teddyrose54]

@Texaswoman  Sometimes I think if you lower it, they believe that you discovered something wrong with it. Or if it's priced low anyway, they think for the price it's not up to much.

Yes, in this job role, we are never bored. Fed up, frustrated, over the moon happy, hair pulling angry, dancing with joy, but never ever bored.

[DsmArtsUK]

Sometimes when people see the price of something and it's a cheap price, maybe they think 'red flag' Why is it so cheap? They question the price.