Introducing Automatic Pricing Recommendations!
A few months ago, we conducted a survey with some of our most active booksellers to get insight into what would make the selling process easier. Many participants cited pricing research as the most time-consuming part of selling, so we got to work on developing a new tool that would target this step of the process.
Today, we're so excited to announce the introduction of a new automatic pricing suggestion tool in our app!
How It Works:
Selling books on Pango has always been a quick and easy process, but it just got even easier. With this new feature, you no longer have to spend time doing your own pricing research. Now, when you list a book to sell, you will see a suggested price range based on our recent sales data. Our data is tied to specific ISBNs, which means that the pricing suggestion is tailored to the specific edition of the book you are selling. All you have to do is decide your price and create your listing!
As always, the price of any book on Pango is completely within the seller’s control. Our price ranges are suggestions meant to make the selling process as easy as possible. However, as a seller, you are under no obligation to use our suggested prices.
Along with a suggested price range, you'll also be able to see data on recently sold listings and current live listings, including date sold or listed, condition, and price. Since our price range is based on our sales history, this feature is currently limited to popular titles on the used book market. As more sales occur on PangoBooks, we will have more data and therefore be able to offer suggestions on a wider range of books, which will lead to more balanced and transparent pricing throughout our marketplace.
So next time you list a book on Pango, keep an eye out for this new pricing suggestions tool. We genuinely hope this feature streamlines the selling process, helps sellers make more informed decisions when listing their books, and ultimately results in fair pricing and more sales for everyone on Pango!
Pango Automatic Pricing FAQ
Q: Am I required to use the pricing that Pango suggests to me?
A: Absolutely not! It's really best to think of these price ranges as suggestions as opposed to requirements. We recognize that there are many factors that influence pricing beyond recent sales history and encourage sellers to select whatever price they feel is best for their books.
Q: What if my book does not have a barcode or ISBN?
A: For the time being, when selling older or rarer books that do not have an ISBN, this tool will not be present. As always on Pango, you can still list these books for sale by opting to bypass the barcode scanning step of our listing process.
Q: What happens if I think the sales data on a book might be wrong?
A: There is definitely the possibility of some anomalies or other errors in our sales history that could result in pricing being off for a particular title. If you think you have found some bad data when listing a book, please let us know by contacting our support team at support@pangobooks.com or via our help center. We'd be happy to look into it!
Q: What about selling paperbacks versus hardcovers?
A: Since our pricing data is tied to specific ISBNs, the suggested price ranges will be based on the exact edition that you’re selling and already takes into account whether you’re selling a hardcover or a paperback.
Q: What if my book is a signed book or has some other special feature?
A: Our pricing data will not take author signatures or other factors of this sort into account. If you are selling a unique copy of a book, you can still use our price range as a benchmark and decide what you think is a fair asking price from there.
We are extremely excited about this new feature and how it simplifies the selling process for you. As you explore this new tool, be sure to also check out our other blog post on book reviews, another new feature to make your experience with Pango even better.
In addition, if you’re looking to learn more about selling on PangoBooks, see our guides on what to consider when pricing books and how to make listings that get sold.