how to price your lsiting collection price guidance on lovejunk

Collection Price Guide & Counter Offers

18 September 2020

How much will I pay for my Collection?

The price you pay for your collection will be determined by the marketplace. There are no fixed prices, just whatever the price is when demand meets supply. The process works as follows:

You offer a price when you create your listing. Nearby collectors get notified and any of them with capacity who thinks your offered price is reasonable can accept it and claim the job. Otherwise, they can ignore your job or offer an alternative higher price (Counter Offer). You can accept their counter offer, wait for a lower one, or increase your original offer by clickingt the increase price button in your listing. The process continues until the buyer and seller (ie. you and a collector) agree a price or the listing lapses.

 

What Price should I offer when I create my listing?

So, what price should you offer and what factors impact the final price that's agreed? Here are the THREE sources of reference:

  1. Prices of Similar Listings
  2. Price Estimate when listing
  3. Counter Offers after listing

 

1. Collection Price of Similar Listings

The first thing it's always worth doing is to scroll through previous listings in the LoveJunk home gallery to see if you can spot jobs similar to yours, and see what collection price was paid. This approach is particularly helpful for simple items like a mattress or sofa.

 

2. Price Estimate provided when creating a Listing

A Price Estimate appears below the ‘Price You Would Like To Pay’ field as you create your listing. The Price Estimate is triggered by your chosen Load Size and whether your job contains Builders / Heavy waste. Larger load sizes and/or heavier waste equals higher prices. The price range shown is based on recent prices being paid by users of the platform to get rid of similar size jobs and waste type. This range changes over time, depending on supply and demand.

 

                       

 

3. Counter Offers from Collectors once you've posted

If collectors think your offered collection price is too low, they can make a Counter Offer.  Counter Offers show in orange on the home gallery screen.  As a customer you'll also receive a notification any time a counter offer is made. A counter offer is just that.  You are not obliged to accept it. But if you do, then the price is agreed and the job will be allocated to that Collector.  You can receive and collectors can make more than one counter offers for a listing. So, if you're not in a rush, take your time to see if a better counter offer comes in after the first one.

 

 

Why is a Collection at the High or Low end of the Price Estimate?

The following factors influence if a collection price ends up being towards the top or bottom (or even outside) of the Price Estimate.

 

  • Size – our 4 different Load Sizes (small, medium, large and XL) are simplified and, particularly with the larger loads, this means there is quite a lot of wiggle room as to how much junk you have compared to the chosen Load Size. Accordingly, if your volume of junk is towards the larger end of your chosen Load Size (eg. you could just squeeze it into an estate car boot), it’s likely you will need to offer a price towards the top end of the Price Estimate range. On the other hand, if you think your junk only just qualifies for your chosen Load Size, then (subject to any other factors below) it should be fine to offer a price towards the low end of the estimate range.

 

  • Weight – weight is a key factor in waste disposal because collectors are typically charged on the basis of weight (not volume) when they dispose of waste at commercial recycling facilities. So, if your junk contains a significant proportion of very heavy, dense waste material (eg. soil, bricks, sawdust, logs, wet leaves, concrete, gravel, carpet tiles) then expect to have to pay towards the top end of your Price Estimate range, because the cost of disposal will be relatively high for the collector for this load size. Alternatively, if your waste is particularly light (eg. packaging, polystyrene, duvets, empty boxes), then disposal cost will be lower than normal for this load size, so you should be able to pay towards the low end of the Price Estimate range. Note: the Builders /Heavy waste option within the Create New Listing page in the app is there to identify heavier items and adjust the estimated price range accordingly. Nonetheless, there is a big difference between a couple of bags of rubble, and an enormous pile of broken tiles. Lots of heavy waste, normally means you will need to offer price at the high end of the price estimate range.

 

  • Fridges, Mattresses, Monitors – certain items cost more to dispose of than ‘normal’ waste because of what they are made of and as a result how difficult it is to recycle them. The most common special items are fridges, mattresses and TV monitors. As a result, collectors will normally require a premium to collect these. As a rough guide, add £10-£15 per fridge or mattress and £5 per monitor to whatever price you would have offered if your junk did not include any of these special items.

 

  • Metal and Resalable Junk – if your waste includes material that has resale value, then feel free to offer a collection price that reflects this. A reasonable amount of metal (in particular copper and brass) will have a scrap value, so highlighting this clearly in your listing description / additional info and making sure it can be seen in your photos, will likely allow you to offer a price towards the lower end of the price estimate. Equally, reusable items (like a nice bike or sofa) in could condition and working order may also impact price. But bear in mind LoveJunk is not ebay or freecycle – it is designed primarily for disposing of junk and rubbish.

 

  • Urgency – if you need a collection done fast, offering a price at the high end or even over the top price shown in the estimate should lead to a faster response.  Equally, if you’re in no rush, then offering a low price and waiting to see if any collectors are interested is fine.

 

  • Time slot and day of week – your chosen collection time can significantly impact the price you need to pay. If you select a ‘normal’ time slot (eg. weekday between 09:00 – 16:00), there should be plenty of collectors operating and available to accept your job, so no premium will be required.  However, if you choose a very unsociable time (eg. Sunday 03:00 – 05:00), you will probably have to pay the top end of or even above the estimated price range to get them out of bed! Equally, if you choose a time likely to be very popular with lots of other customers (eg. 07:00 – 09:00 on Friday or mid-morning on Saturday), prices may be higher because most collectors are already busy at these times and so available collector capacity will be low.

 

  • Access & Location – easy access and easy location normally mean lower prices because the job takes less time to load. Difficult locations and access mean more time spent on site which increases a collector’s cost, which in turn means they will want prices nearer the higher end of the price range.

 

  • Solo lift – classifying your job as a Solo Lift means it can be undertaken by just one person which, subject to any other factors, means it costs less to do and therefore you can price it towards the low end of the range. Some collectors only operate as one-man teams, so ‘solo lift jobs’ can be done by a wider pool of collectors which also increases supply and therefore lowers prices.

 

  • Happy to Help – the fact that you are able and willing to help with loading is nice but unless you add in the Extra Info field that you are super fit and strong, it is unlikely to influence the price you need to pay. So, if your waste is particularly heavy or awkward, or access is difficult and you really mean business, take the time to detail in the Extra info field in your listing about how you will help and then offer a collection price a bit lower than you would if you were not.

 

PS. Last but not least, please try to be as honest and accurate as possible when creating listings. It’s natural to be optimistic when deciding how much you should pay for a service, but wishing your job is small, light and easy doesn’t actually make it so. Creating a listing that doesn’t reflect reality will just end up wasting both your own time and that of the collector.

 

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