We understand. You want to make sure you're not giving away your items. In order to prevent this, you might think about setting a high starting price. While it seems logical, a high starting price will do more harm than good.

The idea is to get as many bidders involved as possible and setting a low starting price is what entices more bidders to bid. These bidders, in turn, become competitive against each other which is what drives the price of your item higher and provides you with results that may be better than you expected.

Also, please remember you are never obligated to accept any bids. You reserve the right to reject any bids for any reason. Our bidders understand this and agree to this each time they bid.

One of the most common questions we get from sellers is “okay then, what starting price should I set?”  We typically recommend starting auctions at about 10% of the expected value of the item, the lower the better. So if you have researched and estimated the value of your item, or have been provided a third party appraisal or trade-in value, that states the item is worth $10,000, the starting bid should be no more than $1,000. Many times, when we make this recommendation, it’s met with great skepticism.   But once we explain our reasoning, our sellers try it and are thrilled with the results.