{"id":373533,"date":"2014-04-08T17:51:54","date_gmt":"2014-04-08T22:51:54","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=373533"},"modified":"2019-01-01T18:03:41","modified_gmt":"2019-01-01T23:03:41","slug":"the-case-for-ebay-prices-are-a-lot-better-than-you-think","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/the-case-for-ebay-prices-are-a-lot-better-than-you-think\/","title":{"rendered":"The Case for eBay: Prices Are A Lot Better Than You Think"},"content":{"rendered":"

Quick, what\u2019s the first thing that comes to your mind when I say \u201ceBay sneaker pricing\u201d?<\/p>\n

Yeah, me too \u2013 or at least that\u2019s what I used to think.\u00a0 But then I started Campless<\/a> and created the Sneaker Price Guide<\/a>.<\/p>\n

The prices in our Guide are calculated from almost 9 million eBay auctions. And, yet, the most common criticism we hear is that our prices are too low.\u00a0 Someone is positive that Shoe X sells for more than we\u2019ve calculated.<\/p>\n

While it’s possible that we’ve made a mistake (and so we double check every sneaker that someone questions), more often than not the problem is not with our price, but with the sneakerheads\u2019 perception of the true value of Shoe X (and no, this is not the code name for a new collab between Nike and Marvel).<\/p>\n

We agree that many prices in our Guide are lower than we expected them to be.\u00a0 In fact, when we first started doing this work – way back in the summer of 2012 – we feared there was a problem with our methodology.\u00a0 So I reviewed thousands of auctions by hand until I was convinced that many sneakers do, indeed, sell for much less than the \u201cexpected price\u201d.<\/p>\n

And then I decided to prove it, mathematically.\u00a0 I analyzed 220k eBay auctions for Jordan Retros 3-14 over a 14 month period, ending May 2013.\u00a0 The goal was to prove that sneakerheads\u2019 perception of eBay pricing is too high.\u00a0 The answer:\u00a0 It is.<\/p>\n

The high level findings from that analysis are:<\/p>\n

The best deals disappear immediately<\/i><\/b>.\u00a0 89% of eBay sales are priced at or below average, but these auctions disappear within a few days, leading to \u201cstale digital inventory\u201d which sits for weeks, sometime never selling.<\/p>\n

Expensive auctions are seen the most<\/i><\/b>.\u00a0 The consequence of stale digital inventory is that overpriced auctions are seen 5 times more often than underpriced auctions.<\/p>\n

The perception gap is at least $46.<\/i><\/b>\u00a0 Quantifying the stale digital inventory phenomenon into dollars, perception is that Jordans are at least $46 more expensive than actual price, not counting the unmeasurable impact of extreme auctions or external sites like Flight Club.<\/p>\n

In picture form, it looks like this:<\/p>\n

 <\/p>\n

Take another look at the chart.\u00a0 Think about the conclusion again for a minute:\u00a0 Sneakerheads think Jordans sell for $46 more on eBay than they actually do.\u00a0 Wow.\u00a0 This is huge.<\/p>\n

For years the easiest target for pent-up, didn\u2019t-cop-the-latest-release sneakerhead rage was eBay.\u00a0 \u201cBots dusted me at 8am, but I\u2019ll randomly tweet my 146 followers asking for a lob before I pay eBay prices!\u201d\u00a0 It\u2019s as if the only pre-requisites for your sneakerhead cool card are to call anyone under 20 a hypebeast and say you shop on Instagram.<\/p>\n

Russ Bengston recently published \u201c10 Things Sneakerheads Should Stop Bitching About<\/a>\u201d.\u00a0 I\u2019d like to offer the data-supported case for number 11:\u00a0 eBay.\u00a0 He played around the edges by listing \u201cresellers\u201d and \u201cprices\u201d, but in terms of all channels available to buy or sell kicks, none is more denigrated than eBay.\u00a0 It\u2019s not even close.\u00a0 And it\u2019s undeserved on each of the big three metrics:\u00a0 Fees, Fakes and Prices.<\/p>\n

Yes, eBay has higher fees than other channels, but it also offers unparalleled volume of buyers and sellers.\u00a0 Plus, fees are the sellers\u2019 cost; every channel has overhead.\u00a0 What\u2019s amazing is that $46 is almost exactly how much the eBay & Paypal fees (14%) would be on a $335 sale (perception price).\u00a0 Many people already think sellers add these fees to the sneaker price, so this lends even more credence to the notion that sneakerhead perception is in line with the auctions they see.\u00a0 (Or it’s an absolutely ridiculous scary coincidence).<\/p>\n

Yes, fakes are rampant on eBay, but fakes exist on other channels, as well – places where there\u2019s less buyer protection and limited seller reputation info.\u00a0 Plus, our analysis excludes fakes (as does all of our work), so fakes don\u2019t impact the $46 perception gap.<\/p>\n

But prices are actually pretty good \u2013 and that\u2019s the big one; that\u2019s the one no one knows. That fact, plus others uncovered by our work, have profound implications for both sides of the sneakerhead transaction:<\/p>\n

Buyers:<\/b>\u00a0 The lesson here is to shop on eBay, but ignore any auction which has been sitting for over 7 days \u2013 odds are it\u2019s overpriced and a better deal will come along soon.\u00a0 Thousands upon thousands of reasonably priced sneakers sell on eBay every day, you just need to know where to look.<\/p>\n

Sellers:<\/b>\u00a0 The guidance is clear.\u00a0 If your auction hasn\u2019t sold after a week, it\u2019s probably overpriced and you should consider lowering the price.<\/p>\n

You can keep scrolling through Instagram and Twitter, hoping to catch the shoe you want at the exact moment it\u2019s posted, asking for more pics, verifying the size . . . I\u2019ll stick with eBay, where everything is easy and the prices are a lot better than you think they are.<\/p>\n

Josh Luber is the founder of <\/i>Campless<\/i><\/a>, a sneakerhead data company.\u00a0 For a complete explanation of his eBay perception analysis, please visit the Campless post: \u201c<\/i>eBay prices are a lot better than you think.<\/i><\/a>\u201d\u00a0<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Quick, what\u2019s the first thing that comes to your mind when I say \u201ceBay sneaker pricing\u201d? Yeah, me too \u2013…<\/p>\n","protected":false},"author":44412,"featured_media":373628,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[1217496,1262],"cultivate_rss":[],"class_list":{"2":"type-post"},"acf":[],"yoast_head":"\nThe Case for eBay: Prices Are A Lot Better Than You Think | Snkrs Day<\/title>\n<meta name=\"description\" content=\"Where to buy The Case for eBay: Prices Are A Lot Better Than You Think shoes. 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