Know to decrease the price?

[Eclipse]

When selling a domain, you want to start the price a bit higher sometimes to earn the most out of it. How do you know when to decrease the price and how do you know the amount that should be decreased?

I usually try to sell my domains for about $20, if no one is interested within a week or so, I usually decrease it to $15, then $12, then $10, and finally I take suggestions for a price and go off that highest bid

 

[meta_mach]

I would only sell if the price was higher than what I paid for it. Otherwise I like to sit on them and put ad.ly ads or something like that on them for anyone who may happens across them. No sense in selling if I'm just going to break even or lose money.

 

[Leapswitch]

I prefer to keep an eye on what competitors are offering. If they offer a lower price than me, then I have to re-calculate my margins and decide over the cost again.