Does anybody know what it is worth?
If yes, price it. If no, auction it. That is most of the decision.
Auction it when
It is one of a kind. Second-hand, handmade, vintage, collectible — where no two examples are the same and no price list applies.
You do not know what it will fetch. An auction finds out, which is a service rather than a gamble. How do I know the price is fair?
It might go for more than you would dare ask. It might also go for less, which is what a reserve is for. What is a reserve price?
You have a room. An auction with three people watching is three people.
Price it when
It is uniform, and buyers can compare.
You have several of the same thing. Auctioning identical items against each other splits your own room.
You know the number and are happy with it.
It is cheap. Nobody gets excited bidding over ₹200, and the delivery dominates.
You are not running shows. A buy-now listing sells while you are at work. Can I sell without going live?
Three things an auction cannot do
Worth knowing, because each is a message from the app rather than an opinion:
It cannot be scheduled from the listing — an auction is scheduled on the auction itself.
It cannot take offers. Offers are a buy-now thing; in an auction buyers bid. Can I negotiate with a seller?
It cannot have options. An auction sells the one item, so sizes or variants belong on a buy-now listing.
Pricing an auction
Start low, protect with a reserve. A high start gets no early bids, no early bids makes the item look unwanted, and an unwanted item stays unwanted. The reserve is the floor; the start price is the hook. How to price for auction
The increment is worked out from the start price and does not rise as bidding does, so a low start means a slow finish on something that runs far. What is an increment?
Pricing a buy-now item
Remember the commission comes off the item, not the delivery — so do not bury postage in the price. Is commission charged on the delivery I collect?
Prices include GST where you charge it, so your number is the gross one. Do the prices include tax?
Turn offers on where you have room to move. A counter keeps a real buyer in the conversation.
Doing both
Most stores do. Auction the uncertain things in a show, list the rest. The listings sell quietly; the shows bring the people who then follow you.
More: auction versus fixed price, buy now, explained, what sells well in a live auction.