Prices are based on the current retail price, condition of the item, external third-party data and historical data we've collected from selling similar items.
We take this data and make a recommendation to the seller. The seller can decide if they want to take our recommendation, or set a different price.
If an item doesn't sell we will drop prices by 5% every 10-20 days. After 120 days we will donate remaining items to one of our awesome non-profit partners.
All that being said, we are constantly refining and improving our algorithm to make sure sellers get a fair asking price and buyers get a good buy.