How are we supposed to compete with people pricing their listings so low?
Okay, so as of recently I had started basing my prices on the MSRP value of the item, not the recently sold as I know a lot sellers letting go of items just to get rid of them, or pay per pound at the bins. I still feel like that affects the prices of the resell market but I understand that people are able to run their business how they want.
Yesterday, I bought a NWT Donni sweater at my local thrift for $5. I have seen that brand before, I thought hey it could probably fetch me at the very least $25. Well, then I cut the price tag off, list my item, I am looking on Posh to see others listed, and I see the exact same one, also NWT listed for not even kidding $7. I saw another one at $10. While I should have checked comps, Donni sells items retail at $150-$500, I feel like $5 on a NWT top was a no brainer.
At this point, what am I supposed to do? Its a one-size item, so its identical to mine. Should I still list it aiming for that $20 range? Is it even worth it? Here is to another item thats just going to sit in my closet for 2 years probably