Pricing on Whatnot isn't like pricing on eBay. It isn't like pricing on Poshmark. It isn't like pricing in a retail store. Whatnot is a live auction platform, and that changes everything about how you should think about prices.
Get pricing right, and your shows generate maximum revenue with high sell-through rates. Get it wrong, and you're either leaving money on the table (starting too high, getting no bids) or giving away inventory (starting too low with insufficient audience).
This guide covers the psychology behind auction pricing, concrete starting bid strategies, when to use auction vs. fixed price, and how to use data to refine your approach over time.
Why Pricing on Whatnot Is Different from Every Other Platform
On eBay, your price is your price. You list an item at $50, and a buyer either pays $50 or they don't. The transaction is rational and predictable.
On Whatnot, pricing is dynamic, social, and emotional. An item you start at $1 might sell for $80 if the right buyers are in the room. The same item might sell for $3 if the room is dead. The final price depends on:
- How many viewers are watching at the moment the item goes up
- How many of those viewers want the item (demand)
- How much social pressure exists (other people bidding creates urgency)
- Your presentation — how you describe and show the item
- The starting bid — which determines who enters the auction
- Timing within your show — early items behave differently than late items
This means pricing on Whatnot is as much art as science. But there are proven strategies that consistently outperform, and we're going to break them all down.
The Psychology of Auction Pricing
The Endowment Effect
Once someone places a bid, they psychologically "own" the item. Losing the auction now feels like having something taken away from them. This is why getting that first bid is the most important moment in any auction. Once two people are bidding, the psychology takes over and drives the price up.
Competitive Arousal
Auctions trigger a competitive instinct that doesn't exist in fixed-price transactions. When @Mike is bidding against @Sarah, it's not just about the item anymore — it's about winning. This "auction fever" regularly pushes final prices above what either bidder would have paid in a Buy It Now format.
🧠 Research shows: Items sold in competitive auctions (3+ bidders) average 18-25% higher final prices than equivalent items sold at fixed prices. The competition itself creates value in the buyer's mind.
The Anchoring Effect
The first number a buyer sees sets their mental anchor. If you show a card and say "this comps for $85 on eBay — starting at $5," the buyer's anchor is $85. Paying $40 feels like a steal, even if the card's real market value is $35. Always state the comp value before the starting bid.
Scarcity & Urgency
Live shows are inherently urgent. The item is up for 30-60 seconds, and then it's gone. You can amplify this: "I only have one of these — once it's gone, it's gone." Scarcity + time pressure = higher final prices.
Starting Bid Strategy: The $1 vs $5 vs Market Debate
This is the most debated topic in the Whatnot seller community. Should you start everything at $1? Should you set floors? Here's the data:
| Strategy | Avg Final Price (% of comp) | Sell-Through Rate | Best For |
|---|---|---|---|
| $1 start (all items) | 65-80% of comp | 95-99% | High viewer count, volume sellers |
| $1-$5 start (tiered) | 70-85% of comp | 90-95% | Most sellers, balanced approach |
| 25-40% of comp start | 75-90% of comp | 70-85% | Sellers with engaged audiences |
| 50%+ of comp start | 80-100% of comp | 50-65% | High-value items, established sellers |
The $1 Start Strategy
Best for: New sellers building an audience, high-volume shows, categories with passionate collectors.
Starting at $1 maximizes engagement. More people bid because the barrier is low. More bids create more competition. More competition drives prices up. The $1 start is a volume play — you sell nearly everything, and the auction dynamics handle pricing.
Risk: If your viewer count is low (under 20), items can sell for $1-$3. You need enough bidders for the auction to work.
The Tiered Strategy (Recommended for Most Sellers)
Best for: Mid-size sellers, mixed-value inventory, most categories.
Set starting bids based on item value:
- Under $20 comp: Start at $1
- $20-$50 comp: Start at $5
- $50-$100 comp: Start at $10-$15
- $100-$300 comp: Start at $25-$50
- $300+: Start at 25-30% of comp
This protects your floor on valuable items while keeping low-value items accessible. It's the most balanced approach.
The Floor Strategy
Best for: Established sellers with loyal audiences, high-value inventory.
Starting at 40-50% of comp means you're protected if the item only gets one bidder. But you'll also have more items that don't sell, which creates dead air in your show. Use this sparingly — maybe for your top 5-10 items per show.
Auction vs Fixed Price: When to Use Each
Whatnot supports both auction and fixed-price (Buy It Now) formats. Here's when each makes sense:
Use Auctions When:
- You have multiple bidders likely interested in the item
- The item has emotional appeal (nostalgia, fandom, rarity)
- Comp prices vary widely (let the market decide)
- You want to create show energy and engagement
- The item is unique or rare (scarcity drives competitive bidding)
Use Fixed Price When:
- The item has a well-established market price with tight comps
- You need to protect your floor on high-cost inventory
- The item is commodity-like (e.g., common card, widely available Pop)
- You're running a "fire sale" or clearance show with fast-moving inventory
- Your viewer count is too low for auction dynamics to work
The Hybrid Approach
Top Whatnot sellers use a mix: 80% auction, 20% fixed price. Auctions drive the energy and engagement. Fixed-price items serve as "palette cleansers" between big auction lots, keep the show moving during slow moments, and clear out inventory that's better sold at a known price.
Price Anchoring Techniques That Work
Anchoring is the most powerful pricing tool on Whatnot. Here's how to use it:
The Comp Anchor
"This card sold for $120 on eBay last week. We're starting at $10." Now every bidder's mental ceiling is $120, and anything under $100 feels like a win for them.
The Retail Anchor
"This retails for $65 at Target. Starting at $5." Even if the secondary market value is $20, the $65 retail anchor makes $15-$20 feel like a steal.
The Story Anchor
"I paid $200 for this lot at an estate sale. I'm letting this piece go starting at $1." The $200 cost creates an anchor, and the $1 start creates urgency and goodwill simultaneously.
The Scarcity Anchor
"Last one sold on the platform for $75. This is the only one I've seen in three months. Starting at $10." Scarcity + comp reference = buyers who don't want to miss out.
💰 Anchoring rule: Always tell viewers what an item is worth BEFORE you tell them the starting bid. The gap between value and starting bid is what creates excitement and drives bidding.
Bundle Pricing & Free Shipping Thresholds
One of the most effective pricing strategies on Whatnot is using free shipping thresholds to increase average order value. Here's the math:
How Free Shipping Thresholds Work
You set a threshold (e.g., "3+ items = free shipping") and announce it during your show. Buyers who win 1-2 items are now motivated to bid on a third item — not because they want it, but because they want to avoid paying shipping.
| Threshold Type | Best For | Avg Items per Buyer | Revenue Impact |
|---|---|---|---|
| 3+ items = free shipping | Low-price items ($5-$25) | 3.4 items | +15-25% |
| $50+ = free shipping | Mid-price items ($15-$50) | 2.8 items | +10-18% |
| $75+ = free shipping | Higher-price items ($30+) | 2.3 items | +8-14% |
| No free shipping | — | 1.8 items | Baseline |
The 3-item threshold is the sweet spot for most sellers. It pushes the average from 1.8 items per buyer to 3.4 — nearly doubling the items per transaction.
Smart Chat Amplifies This
BundleLive's Smart Chat feature automatically tracks each buyer's progress toward free shipping and sends reminders in chat: "You're 1 item away from FREE shipping! 🚚" This removes the friction of buyers having to count their own items and creates urgency at exactly the right moment. Sellers using Smart Chat see an additional 10-15% boost on top of the threshold effect.
How to Research Comps for Whatnot Pricing
You can't price effectively without knowing what items are actually selling for. Here's where to find comp data:
1. eBay Sold Listings
The gold standard for most categories. Search for your item on eBay → filter by "Sold Items" → sort by "Ended Recently." This shows you what real buyers actually paid, not what sellers are asking.
2. Whatnot Recent Sales
Search the Whatnot app for similar items that recently sold on other shows. This is more relevant than eBay comps because Whatnot auction dynamics produce different prices than eBay listings.
3. Category-Specific Tools
- TCGPlayer — trading cards (Pokémon, MTG, Yu-Gi-Oh)
- Pop Price Guide — Funko Pops
- StockX/GOAT — sneakers
- Mavin — general collectibles
4. Your Own Data
Over time, your own sales data is the best pricing guide. Track what each item sold for in your shows, and you'll develop intuition for your specific audience. BundleLive's analytics dashboard tracks every sale, average prices by category, and price trends over time — giving you the data to make smarter pricing decisions show after show.
Dynamic Pricing: Adjusting Mid-Show
The best Whatnot sellers don't set prices and forget them. They adjust in real-time based on show conditions:
When to Lower Starting Bids
- Viewer count is lower than expected
- Multiple items in a row aren't getting bids
- Chat energy is dropping
- You're in the first 15 minutes (audience is still building)
When to Raise Starting Bids
- Viewer count is unusually high
- Items are consistently selling for 2-3x starting bid
- Chat is extremely active and competitive
- You're in the "peak" of your show (usually 30-60 minutes in)
Reading the Room
Pay attention to bidding velocity. If items are getting 8+ bids and selling in under 30 seconds, your starting prices are too low — you're leaving money on the table. If items are sitting for 60+ seconds with 0-1 bids, your starting prices are too high for your current audience size.
Using Analytics to Optimize Over Time
Pricing gets better with data. After every show, review:
- Average final price vs. starting bid — healthy shows have a 3-5x multiple
- Sell-through rate — target 85%+ (items that sell / items shown)
- Items that sold at starting bid — these were either overpriced or shown when viewership was low
- Items that got 10+ bids — these were underpriced or shown at peak viewership
- Revenue by show segment — first 30 min vs. middle vs. last 30 min
BundleLive tracks all of these metrics automatically. Over 5-10 shows, patterns emerge: you'll know which item types consistently outperform, what time in your show generates peak revenue, and exactly where your pricing sweet spot is.
📈 The optimization loop: Set prices → run show → review analytics → adjust prices → run show → review analytics. Sellers who follow this loop consistently see 20-30% revenue improvement over their first 10 shows.
Pricing Mistakes That Cost Sellers Thousands
1. Starting Too High on Everything
Starting every item at 50% of comp feels "safe" but kills auction energy. If items don't get bids, your show loses momentum, viewers leave, and the problem compounds. Lower starting bids create more energy, which creates higher final prices.
2. Not Mentioning Comp Values
If you hold up an item and just say "starting at $5," buyers have no context. Always anchor: "This comps for $60 on eBay — starting at $5." The anchor does the heavy lifting.
3. Ignoring Free Shipping Psychology
Not offering a free shipping threshold is leaving 15-25% of potential revenue on the table. It costs you a few dollars in shipping per bundle but generates significantly more in auction revenue.
4. Same Pricing Regardless of Audience Size
A $10 starting bid works great with 80 viewers. With 12 viewers, it's a recipe for items selling at opening bid. Adjust your starting bids based on current viewership.
5. Not Tracking What Works
If you're not reviewing show data after every stream, you're pricing blind. Even a simple spreadsheet helps — but analytics tools like BundleLive make it effortless by tracking everything automatically.
6. Emotional Pricing
"I paid $30 for this so I can't start it below $15." Your cost is irrelevant to buyers. Price based on market value and audience demand, not what you paid. Sunk cost thinking costs sellers more than any other pricing error.