Two settings control how bidding works on each auction item: the starting bid and the minimum bid increment. Setting them well helps your items sell for more.
What Is the Starting Bid?
The starting bid is the lowest amount someone can bid first. It is the price bidding begins at.
- Set it too high and people may be afraid to start
- Set it too low and the item may sell for less than it is worth
- A good rule is 30 to 50 percent of the item value
What Is the Minimum Bid Increment?
The minimum bid increment is how much each new bid must go up by. If the increment is 10 dollars and the current bid is 50 dollars, the next bid must be at least 60 dollars.
- A small increment keeps more people bidding
- A larger increment raises the price faster
- Pick an amount that fits the value of the item
Where to Set Them
- Open your auction and go to the Auction Items tab
- Add or open an item
- Enter the Starting Bid and the Minimum Bid Increment
- Save the item
A Simple Example
An item is worth 200 dollars. You set the starting bid to 75 dollars and the increment to 25 dollars. Bidding starts at 75, then goes to 100, then 125, and up from there.