How to Price Your Custom Printing Equipment in 3 Simple Steps!
If you have no idea how to price your custom printing equipment, just keep reading this article and I’ll show you how to do it in three (3) simple steps.
Listen, no matter where you sell, there are most likely tons of people combing through the listings to find what they need. They might as well end up on your listing, right? I mean, the odds are pretty good. But the question is will they buy from you or keep looking around.
The truth is… not everyone is ready to buy right now — some are there to just window shop, strike up a conversation or fritter away time. But then there are the other kind… the serious people who have come to look at the custom printing equipment and are willing to take it off your hands at the right price, right now.
The problem is knowing what the right price should be. So, let’s take a closer look at this thing — starting with step number one and working our way down the list.
Step 1: Find the Retail Price of Your Product
Step number one is to find out the retail price of your equipment. Why’s this so important you ask? Well, you need to get an idea of the going price. If you bought your equipment years ago, you may have forgotten the price. So, you have to look it up online.
Perhaps the store you bought it from might be the best place to look. Alternatively, just run a quick google search to see how much your equipment is selling for. Don’t stop at just one website — compare prices between different websites. And then take the average price over these websites.
When you’re done with that, it brings us to the second step.
Step 2: Determine How Complete Your Package Is
What’s the next step for you? Well, the next thing to check is how complete your package is. Open up the box that stores your product and see if it’s complete with everything that would entail.
Custom printing equipment normally comes with a warranty that protects the buyer against major mechanical problems for a specific period of time. Try finding it if you haven’t already — it’s a major selling point for buyers.
Another thing to look for is the user manual and instructions. They come in handy for newbies and people new to this industry. In case of questions or concerns, they can quickly pull up a certain page and find answers.
Have you kept the original packaging? It may sound silly, but many people prefer to purchase items only in their original packaging. Mostly for economical reasons; a complete kit usually has a higher resale value, plus it looks pretty good too.
Step 3: Price Match Your Product to Other Sellers
For the third and last step, you want to price match your product to other sellers. To do it, simply scout out secondhand marketplaces that are selling similar bundle to yours.
Price tags are what you’re looking for.
When you work out the average price your equipment could be sold for… you’re ready to place your first ad! My personal recommendation would be to start with a higher price point, say 10% more than what you’d like to get paid. Just to leave room for bargaining.
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