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Set your price to be the second lowest among all third party offers for your item. This will help you avoid starting a price war with your competition, which is not good for you or the other sellers. Many Amazon sellers use automated repricing software that looks for the current lowest price among all third party offers, and then lowers their price to be the lowest. Often, if you set the lowest price, within a few hours another seller will have repriced their item to be less than yours using automated pricing software, and then you no longer have the lowest priced item. If you still want to ha
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ve the lowest price, you will then have to lower your price yet again, and the cycle will repeat, bringing the price down to a penny. By having the second lowest price, other sellers who use automatic repricing software will not see your price as their competition, and will not lower their price. You still have a good chance of making the sale with the second lowest price, and selling each item for even a little bit more will quickly add up if you sell many items.
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