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The Garage Sale Millionaire: Make Money with Hidden Finds from Garage Sales to Storage Unit Auctions and Everything in Between, Revised and Updated by Jeffrey Kern, Aaron LaPedis

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Understanding and Determining the Value of an Item—The eBay Way

Monetary Cost Versus Emotional Value

There are two ways to view any transaction for items being sold on eBay: monetary cost and emotional value. Many times emotional value or the emotional currency someone places on an item far outweighs the actual cost of an item or the monetary cost. In these instances, the idea of getting the best value or price for an item falls somewhat by the wayside. In an emotional value purchase, the buyer must have that item no matter what—no ifs ands or buts!

Million $ Tip

You certainly can use the emotional value of an item to your advantage as a seller on eBay. You could earn larger profits knowing the item you have up for auction on eBay will elicit an emotional response from your bidders. Many times bidders will easily pay above market value if that item means something personal to them. Also, if you have an item that would provoke this reaction amongst your bidders, you can set the starting price of your auction much higher.

For example, when co-author Jeffrey bought his 1:1 scale, #288 of 500, life-size Star Wars’ Darth Vader action figure, he spent approximately $6,100 for it (give or take a few cents). In referencing The 4th Edition of the Star Wars Super Collectors Wish Book by Geoffrey T. Carlton, Collectors Books (a Division of Schroeder Publishing Co., Inc.), to verify the piece’s value and ascertain that this was a wise investment, he discovered the estimated value of ...

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