I haven't tried opening an ebay store, but I will list auctions occasionally. When I first started listing, I would put the starting bid at a few dollars below value, thinking I was protecting myself from being burned by a lowball bid. Hardly sold anything, and still had to pay listing fees. Took a chance and started a listing at .99 no reserve and the bidding was hectic and realized more than what I could've imagined. Ever since then, ALL of my listings are .99 No Reserve and I am rarely disappointed.
I start all my auctions at 1 cent, no reserve, and everything seems to go for more than what I was hoping. A few exceptions here and there, but overall I have done well.
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