Simplified Pricing
Frequently Asked Questions
Why is Chairish implementing simplified pricing in the listing form and now requiring reserve pricing?
Our data shows that items with a reserve price sell 2 times faster than those without
With an increased interest in make an offer, your items are more likely to convert when a reserve price is set
Items with reserve price are included in our private offer emails - the most successful email that we send in terms of sales conversion
Knowing your reserve price helps simplify other pricing models - like net pricing, markdowns, discounts, and temporary sales. Reserve pricing is the foundation with which we can build a more robust pricing strategy for your entire shop.
How can I bulk add a reserve price to all of my listings?
Update the reserve price to your active items by clicking this link, similar to how you add net price.
What is the recommended reserve price % discount?
The minimum reserve price is 5% below your current asking price, but we recommend 15-20%
The listing form will pre-populate your reserve discount to 20% but you can adjust it manually as you create new listings.
The listing form will pre-populate with the recommended trade discount of 12% as well, which you can also adjust as you see fit.
What are the benefits of having reserve pricing?
Private Offer Emails
Potential buyers that have expressed interest in your item may receive an email, offering them a limited-time deal on that item! With a reserve price set, the private offer price would be halfway between the current asking price and your reserve. We’ve been testing this since July and it’s already our most successful triggered email for buyers. Think of this as “Make an Offer” in reverse.
Increase Counter Offer Conversion
When a seller counter offer expires (meaning the customer did not take action) we will notify other interested shoppers with a counter offer email. Interested users may include those who have favorited or commented on this item previously, as well as other criteria.
Are reserve prices added retroactively or just as I publish new listings?
Our goal is to ensure that 100% of listings have a reserve price, empowering all Chairish dealers to drive more sales. If you currently have active listings without a reserve price, we recommend using the bulk tool (outlined above) to update them. Moving forward, when renewing or marking down your listings, you'll be prompted to include a reserve price. Additionally, for any new listings you add to your shop, a reserve price will also be required.
While your active listings will remain live without a reserve price, we strongly encourage you to take this opportunity to update all of your listings with a reserve price today. This will help maintain consistency and improve your sell-through rate
If I have listings without reserve pricing, will they still be live?
Yes. Those listings will still be live.
If reserve prices are set as a percentage off our retail price, what happens during a temporary sale?
During a temporary sale, your reserve price will be turned off. This is for both private and public sales.
Is this different when I do a public sale or a private sale?
No. This will be the same for both private and public sales.
I already have reserve pricing on all my listings. Do I need to do anything differently with this simplified model?
No. You don’t need to make any changes at this time. You will simply notice that when you go to add new listings to your shop, it will be easier to include a reserve price.
If I have listings expire, will I need to add a reserve price to get them live?
Yes. When you renew listings, you will be prompted to add a reserve price.
Can you share metrics regarding “the most opened” email from Private Offers?
While we don’t have seller specific metrics to share, I can share that: our "Open Rate" for Private Offer emails is ~72%, our highest for all Triggered Emails
How can I see how many of my own private offers have been sent?
Unfortunately, we don’t have a current way to display this.
Do you use private offer prices or reserve prices in paid ads?
We do not surface reserve price or the private offer price in paid ads or anything public facing. The private offer price will only be surfaced in the private offer email.