It depends on what you're selling, how well you've described what you're selling, how many people will be competing for what you're selling, and how badly you need to recover your investment.

It also depends on your goals.

• If you're in this for the business, put your opening bids at or above your break-even point, especially during slow months (see 2.4). From a business perspective, you don't want to buy something for $40 and risk having to sell it for $30.
• If you're in this to watch the fur fly, use a low opening bid and enjoy the show. Consider yourself warned: a bidding war on something with a low opening bid can take up to several weeks to resolve itself.
• If you're in this to find the most deserving person, get out -- don't hold an auction at all but instead trade or sell at a reasonable price to a net.friend or someone who you'd like to make friends with.

8 Jan 96 [TSL]