Ellia Fairey

Peggy, i appreciate your point about walmart, and there certainly are people who make money by selling a tone of low quality stuff for low prices. But the analogy also falls short because every merchant on SL is an original content creator. No one is selling my stuff except me. We are more like artists than walmarts. And which artists make the most money? the ones selling their watercolours for $1 at the local swapmeet? Or the ones commanding big prices in famous galleries?

I really disagree with the advice to undercut the other sellers. I think you could have a "grand opening" promotion sale and discount your stuff for your first week to hopefully get some attention. But setting your prices at half the competition? Thats bad business. First of all, theres lots of people giving stuff away for free. And they probably give more away than I will ever hope to sell. How can I undercut 0? You should sell at the price that generates the best price-to-sale ratio. For example, if you sell something for 500 and sell one a week, but the same item sells 6 a week if priced at 100, then it makes sense to sell it at 100.