Price Suggestion for Online Second-hand Items

This paper describes an intelligent price suggestion system for online second-hand listings. In contrast to conventional pricing strategies which are employed to a large number of identical products, or to non-identical but similar products such as homes on Airbnb, the proposed system provides price suggestions for online second-hand items which are non-identical and fall into numerous different categories. Moreover, simplifying the item listing process for users is taken into consideration when designing the price suggestion system. Specifically, we design a truncate loss to train a vision-based price suggestion module which mainly takes some vision-based features as input to first classify whether an uploaded item image is qualified for price suggestion, and then offer price suggestions for items with qualified images. For the items with unqualified images, we encourage users to input some text descriptions of the items, and with the text descriptions, we design a multimodal item retrieval module to offer price suggestions. Extensive experiments demonstrate the effectiveness of the proposed system.