I remember seeing a post from you about your marketplace, along with a thoughtful explanation behind your tactics. It sounds like you have a great approach that's working really well, and I really appreciate you sharing all of that info.
Out of curiosity, why wouldn't you push it to $500? Your market, in my naive outsider view, seems to have the discretionary income to handle that.
I ask because I'm wondering at what point do you determine you've set too high of a price? Was there considerable drop-off in conversions near that number? Or a gut feel?
I am at $250/now. I am now seeing some interesting data patterns on selling price and am considering maybe asking for $500. Right now i am gonna stay with $250 and slowly begin testing $500.
But i just started testing a tesla on demand model im not sure how that is gonna work: https://onlyusedtesla.com/ondemand/
Problem: a tesla owner takes his tesla in for servicing.
Servicing center has no loaner for him.
Service center rents a tesla from my platform for the customer.
Problem is inventory.
Also tesla can use my platform to get customers in for a short term rental then try to convert them into a sale ( sell them a tesla)
So new business models are unfolding. there are other ways to make sales. I will of course test my threshold. ;-)
Instead of jumping to $500, is raising it by $50 an option?
If you jump to $500 and some pay, but not enough, then you revert to a lower number, people who paid $500 may feel slighted. Moving up at $50 reduces the impact and those who paid lower will feel like they got a bargain. Maybe...
So i just sold a model x 90D on the site and this guy who is a dealer paid me $500. Now i just listed another model x 90d for him. So i am thinking for a dealer i'll ask them to pay $500 it could be just this guy or i just got lucky ( one off) But the idea of raising it in $50 increments is interesting and I will start testing ASAP! Another online dealer wants to list their used tesla inventory now, they are a well funded start up based in NYC no lots. I gotta work out a monthly deal with them i don't even know how much they are paying to cars / autotrader but looking into it. ;-)
Out of curiosity, why wouldn't you push it to $500? Your market, in my naive outsider view, seems to have the discretionary income to handle that.
I ask because I'm wondering at what point do you determine you've set too high of a price? Was there considerable drop-off in conversions near that number? Or a gut feel?