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.
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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.