What the Heck is Market Price?

[piedplus]

I've seen posts where people get upset about sellers marketing their baby BP's at too low a price. Well I tried to sell at "market price", and I'm getting hundreds of lookers but no inquiries at all. In that case, it seems to me that the price is too high no matter what others have gotten in the past. I think those with holding power skew the market to the high side. Sure, you can get a higher price if you house and feed an animal for a year or two, holding out for the higher price. I think a real "market price" should see an animal sell within a couple of months. Am I wrong? Opinions appreciated.

[MootWorm]

Considering the prices on most of the higher end morphs are constantly dropping, "market price" is pretty darn fluid. That said, you should price your balls at what you honestly think they're worth. If you have a high quality animal, hold out for the right buyer who can appreciate the true value. Of course, expect to haggle a bit May I ask how long your particular specimen has been on the market?

[wienkeg]

Market price = what someone is willing to sell something for, that someone is willing to buy the same thing for.

Simple economics.

[piedplus]

Considering the prices on most of the higher end morphs are constantly dropping, "market price" is pretty darn fluid. That said, you should price your balls at what you honestly think they're worth. If you have a high quality animal, hold out for the right buyer who can appreciate the true value. Of course, expect to haggle a bit May I ask how long your particular specimen has been on the market?

Good points. Much of my thinking's based on the last year or two, so I didn't take into account high end morphs dropping. And I need to set my own prices without worry about what others think. I haven't been at it for long. Notified my waiting list a couple of weeks ago and started ads a week ago. I'm just surprised that I'm not getting inquiries. I thought my morph was in pretty high demand.

[piedplus]

Market price = what someone is willing to sell something for, that someone is willing to buy the same thing for.

Simple economics.

Wish I could jump into the future & see what they will sell for so I could set the price at that.

[MootWorm]

I assume you're working with pieds? You may want to take a look at the structure of your ads as well. I, for one, am more drawn to ads that include shipping in the price. Gives the illusion of a better deal, even if it's not

[piedplus]

I assume you're working with pieds? You may want to take a look at the structure of your ads as well. I, for one, am more drawn to ads that include shipping in the price. Gives the illusion of a better deal, even if it's not

That's a good idea. I'll add in free shipping. Part of my problem is I'm new at this. I'll have to take a look at other ads for more ideas... Try & spice it up.

[loonunit]

So, when people complain about underselling, I feel for them? I feel their pain, I do. But it's basic supply-and-demand economics. Some people want to get rid of animals much more than other people, some people want to buy them much more than others, and at a certainly point, you saturate the market of people who have $500 to spend on a pied by selling them all pieds. So then you have to appeal to the people who can spend $450 on a pied. Etc.

Every time someone complains about underselling and lowballing and dropping prices, I have to stop myself bodily from typing TAKE A MICROECONOMICS COURSE PLEASE AND THEN COME BACK WHEN YOU'VE GOTTEN A PASSING GRADE.

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(Whew, it felt so good to finally type that! )

[BHReptiles]

I thought I would throw this perspective out there.

Not everyone who views your add is really shopping for a new animal. I know for me, I browse classifieds daily. I'm mainly looking at beautiful animals and if one happens to catch my attention or happens to fit just right into my breeding plans, then I may put more thought into the animal, the seller, and finally the price.

It may not be that your prices are too high. It may just be that you haven't found the target group that your babies appeal to.

Where are you advertising them?

[piedplus]

So, when people complain about underselling, I feel for them? I feel their pain, I do. But it's basic supply-and-demand economics. Some people want to get rid of animals much more than other people, some people want to buy them much more than others, and at a certainly point, you saturate the market of people who have $500 to spend on a pied by selling them all pieds. So then you have to appeal to the people who can spend $450 on a pied. Etc.

Every time someone complains about underselling and lowballing and dropping prices, I have to stop myself bodily from typing TAKE A MICROECONOMICS COURSE PLEASE AND THEN COME BACK WHEN YOU'VE GOTTEN A PASSING GRADE.

- - - Updated - - -

(Whew, it felt so good to finally type that! )

Yeah, I've taken some economics, and even liked it. I've seen how retail stores work to move merchandise too. Guess I should be relying on my own experience. Besides basic economics, I'd like to see my little guys in their new home while they're still young enough to make the adjustment easily. Good points, thanks!