Expose people to any high number

The Anchoring Effect in pricing

People tend to rely heavily on the first number they see when making decisions, causing an anchoring effect. This anchoring occurs so subconsciously that seeing any high number before seeing your price can really help.

MIT professor Dan Ariely (2010) asked students to write down the last two numbers of their social security number on a piece of paper before inviting them to bid on items in an auction. Students with higher social security numbers bid over 300% higher.

Is this irrational? Absolutely, but it really shows that displaying any high number near your prices can really influence how customers evaluate that price.