posted on June 22, 2003 08:26:38 PM new
Thank goodness for the bidder that bid on one of my auctions before I could end it with a BIN. I learned a very good lesson this past week and I will NEVER end an auction early for any reason even if there are no bids. Take if from me let your auctions go full term.
posted on June 22, 2003 09:54:43 PM new
The only things I use BINs now are for items that are quite common and competitive, like CDs, DVDs, etc, that are pretty much "price-controlled" by competition. I'll never again use it for anything else because I've seen an 8.00 item jump to 35.00 in the last 30 seconds, far beyond what I wouldv'e been happy to accept as a BIN.
Never underestimate the giddiness and froth of a buyer in the heat of a bidding war. Believe me, I've been at both ends of it LOL
posted on June 22, 2003 10:23:43 PM new
The BIN can be both a bane and a blessing. While researching closed auction goods I'll often find items that sold with a BIN that went for 5 times the going rate for the similar items. A hard to find collectible should never have a BIN but a common item needs a BIN to catch that bidder that can't wait and hasn't researched the item he wants to buy.
I've noticed A TON of regular auctions that have a BIN for the same amount as the start bid. For an item under $9.99 the cost is 30 cents plus a 5 cent BIN option. A Fixed Price Auction would only be 30 cents. I guess those sellers do not care about the extra nickle?
posted on June 23, 2003 01:14:46 AM new
Not to be the contrarian...but I ended an auction early, got triple the asking price and she paypaled me so fast my head was spinning...happier than possible because it was my second list and not a nibble...yay!
J
posted on June 23, 2003 03:29:43 PM new
Can someone clarify, can you place an item up for AUCTION and BUY IT NOW? I thought Ebay wanted either or: AUCTION OR BUY IT NOW.
Not both at the same time.
posted on June 23, 2003 03:31:35 PM new
It seems that ioffer.com and half. com (until it's demise) would be a better place for BUY it now, because they let the seller&buyer negotiate.
posted on June 23, 2003 03:35:43 PM new
No negotiating at Half that I know of. As for the Buy It Now at ebay
The auction-style format is flexible. When you use it, you will be given many options, including giving buyers an opportunity to buy at a fixed price (Buy It Now)
posted on June 23, 2003 03:47:02 PM new
With 5 years experience on Ebay, I would normally have agreed 100% with that statement. I've found that when someone makes an offer to end an auction early, they're trying to buy low, and you'll wind up with 2-3 times the offered price if you let the auction run it's course. My thoughts have somewhat changed however. I put 2 items up for auction a few days ago. Not my field, and I wasn't sure of their value. I set a $100 opening bid, no reserve. Within an hour I was offered $200. I declined. Now, there's just a few hours left in the auction, and the item sits at $115. I'll let you know how things go. I may get some last minute bidders, but right now I'd take that $200. No matter what happens though, I would still have to advise someone who has no idea of an items value to never end the auction early.
posted on June 23, 2003 04:51:38 PM new
a few months ago i found a lot up for auction with a verrrry low BIN for the lot and a starting bid just $2.00 below the BIN. as i tried to use BIN some ***### newbie bet the starting bid. it ended up selling for 5 times the BIN and the newbie and i both lost out in the end.
posted on June 23, 2003 05:17:37 PM new
The auction I am talking about is I started it at $5.99 and it ended at $157.00. I thought I new all the marks but this one was new to me, but not any more. It pays to research before selling, which I didn't do.
A good lesson learned.
posted on June 30, 2003 06:48:44 PM new
As a frustrated bidder, I posted on this topic a few months ago after seeing a number of auctions for highly desirable collectibles "disappear" off of eBay two days into the auction...ostensibly because the unknowledgeable seller went for the "sell it to me directly" bait.
I received a number of ugly comments, mainly from sellers who felt it was their auction and they could do whatever they wanted, even if it meant breaking eBay's rules to sell offline...even if it undermined the whole auction concept. I personally spend much less money on eBay now (from appx. $50,000+ in 2002 to less than $10,000 this year)as it's not worth the frustration of spending hours trying to items to bid on, only to have the auctions ended early.
Anyway, I wanted to give an update on one of the items from an ended-early auction four months ago. The seller had it listed for under $100. The auction was ended within a few days, probably after they were offered around $500. [I imagine they even did a happy dance.] Last month I saw the item in an auction catalog and it sold for over $5,000!! If the seller had let the auction run they would have gotten $2,500+ for their item as I was willing to put in a large bid, and I know there are other collectors on eBay interested in items like this.
Another thing to consider in pulling an auction, is the resultant bad PR. I personally try to avoid sellers who burn their bidders and potential customers and I know other buyers who feel the same way.
posted on June 30, 2003 07:11:54 PM new
Thanks for the update. I learned a valuable lession but not ending my auctions and I thank god for the buyer that placed the first bid.
posted on June 30, 2003 07:12:17 PM new
Yes, I remember. Sellers suggested if you were interested in an item perhaps just place a bid on the auction.
And I don't remember any seller saying that they pull auctions to sell offline and break rules. They did give the reasons why they would end an auction early and most said they never do it.
I do remember you got very angry at us.
Now, months later I am trying to be a softer and kinder soul so I apologize for the dancing vegies.
