1) My cost of the item. Many of sets listed I have acquired through the Internet for various reasons and I have used a lot of my time and money to make sure they are complete with original boxes and instructions when I have been able to get them. I would at least like to get my money back for them, plus some extra for my time and effort.
2a) The condition and uniqueness of the item. M/NM and MISB/P items will always be placed at the upper end of the pricing scale, and the rarer or harder to find the item is, the more valuable it will be.
2b) Size of the item - larger parts will bring a larger price, as will the number of pieces in a set, and its completeness (original box and instructions).
3) What the item (sets primarily) are worth as a collector and the year produced. 60% of the sets I have on sale are from my personal collection, and have been very well maintained. The older sets are certainly more valuable, as is the uniqueness of any parts they contain. This isn't necessarily what I would be willing to pay for the item: if it's a set that I would like to have in my collection, I am willing to pay almost any price to obtain it. For parts, if I find one cheaper in a store, but that store doesn't have as many other parts/sets as I am looking for as a store that lists the part for more, I will pay the extra cost for that part.
4) What the general selling value has been in the past by using the Brickbay Price Guide and looking at final auction values when I can find them. I also check to see what the item is currently listed for in other shops.
5) How many people have the item on their wanted list. On occasion, I will put in a price of 1 cent to see how many people want the item, then put in my selling price to see if there is any difference. Often, if there are people with price limits, and that limit is close to my desired selling price, I will put in the lower price. However, I DO NOT price gouge when an item is on a lot of wanted lists. I will never hike up a price when it appears the item is in demand. If a price seems high, it is because that is what I feel that item is worth.
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I use the following means of pricing sets and parts for my store. The criteria is basically in the order of consideration when determining the final price.
None of the above is given any more weight than another, except for my costs, which will always be given the greatest weight. Because I don't believe in undercutting (such as those shops that sell cheaper than actual worth), and the Price guide can't tell me what condition the item was in when sold at those prices, I usually only use it as a guideline when I can't decide on a price. Regarding sales, I basically use them as a promotional tool for my shop - there is no rhyme or reason for the parts that I have on sale now or will put on sale in the future. I may, occasionally put a part or set on sale that I want to move, but I wouldn't recommend waiting to see if the item you are looking to pick up will go on sale - using the above criteria, the non-sale price is pretty much what I am looking to be paid for the item. Please don't ask for discounts or to have an item placed on sale.