EBay will lower the fee for listing an item on its “Buy it now” fixed-price format.
The e-commerce company, best known for its auction format, said it wanted to offer additional services to customers who want to purchase items as soon as possible, and also to reduce fees sellers’ fees. About 57% of its listings were in auction format last quarter.
Under the change, which will take effect on September 16, sellers will pay a flat rate of 35 cents for a 30-day listing period for fixed-price items, up from the previous seven-day standard. Sellers also gain the ability to list multiple quantities of the same item for a single 35-cent listing fee. Previously, selling more than one item resulted in higher listing fees.
EBay spokeswoman Heather Lowles said the change is a result of a combination of factors.
“Many items, such as rare coins, are unique, and belong in [an] auction,” she said. “With other items, such as printer paper, a consumer already knows the price and wants to buy right away.”
She said the company also wanted to give sellers a longer listing period and make it easier for them to sell to consumers who prefer the fixed-price format.
“We understand that many people are looking to shop online due to factors such as convenience and high gas prices,” she said. “Shoppers are looking online first — especially with the holiday season coming up.”
Prior to this pricing change, sellers paid between 35 cents and $4 per item listed per week. The company claimed that under the new pricing plan, a seller who previously spent $5,000 annually on listing fees would save $550 per year.
“A 35-cent listing fee virtually eliminates the upfront cost for sellers to put more of their great inventory on eBay and creates more opportunity than ever for sellers to build successful businesses,” said Lorrie Norrington, president of eBay Marketplaces, in a statement.