posted on June 13, 2004 12:29:29 AM new
I have several pieces of china on with BIN. Why do bidders think they will get a piece with a BIN of $70.00 by bidding $39.00 etc? guess I can't understand their mentality. Oh well, they sell anyway, so I shouldn't worry. Just wondered why they even bothered.
posted on June 13, 2004 12:51:50 AM new
sanmar,
I often put in the opening bid because eBay sends me a bid notice. I leave it in my email so I see it everyday. It reminds me to watch the auction so I can snipe it, if it doesn't get too high.
Without the email I would most likely foget about it.
I never expect to win with that bid, as I said, it's just a reminder.
posted on June 13, 2004 05:01:08 AM new
Sanmar- not knowig the trends in your catagory I can tell you that in a number of catagories, items only take one bid so putting in the minimum bid amount often results in a winning bid. There are a number of times I have put in minum bid and ignored the BIN on the one style of glassware I buy. Since I usually end up winning it history has taught be that paying the higher BIN price is just throwing money away.
Could also be that the opening bid is in the range they are willing to pay but the BIN is out of their desired range so they put in a bid for what they are willing to pay.
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If it's really "common" sense, why do so few people actually have it?
posted on June 13, 2004 05:03:33 AM new
If you want to see instant gratification,make the BIN not too much higher than the asking bid.
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on June 13, 2004 10:40:29 AM new
Is your question insinuating that you can not understand why the bidder would not bid $21 more and go ahead and buy it, rather than placing a bid and possibly saving 44% of the BIN price?
Excluding reserve auctions, bidding the minimum bid takes away the ability for someone else to purchase the item BIN.
Some people bid early when there is a BIN to keep someone from jumping in and taking the item.
If you do not think people should bid at a particular price, you should raise the minimum bid.
By putting the starting price low, you are being given what the low start price is used for, to get people interested, watching and bidding.
posted on June 13, 2004 10:56:00 AM new
classic et al; My BIN is 1 cent higher than the reserve. I set my price according to what I can get from Replacements Ltd. & I state it my TOS. In other words the reserve was $69.99 & the BIN was $70.00. If people are buying to fill in a set, then they know my prices are fair. I put a lot pieces on Thursday night & one piece sold in 29 minutes. Two more in 6 hours & 2 more have gone by today. This is high quality Lenox China. That is why I wonder about the low bids.
[ edited by sanmar on Jun 13, 2004 10:56 AM ]
[ edited by sanmar on Jun 13, 2004 10:59 AM ]
posted on June 13, 2004 11:04:05 AM new
Well see now, you didn't tell us you had a reserve or listed what it was. In that case the people have the exact same motives as listed above and they don't read
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on June 13, 2004 01:05:55 PM new
may be they dont have to have it,it is an item they would have if the price is right.
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on June 13, 2004 02:21:27 PM new
Look at it this way. Any amount bid is good because a bid attracts other bidders to your auction. When they see a bid it's just human nature to look and see what someone bid on.
posted on June 13, 2004 02:49:55 PM new
Libra: you are sooooooooooooo right. auctions with bids always seem to do better - that from my view as a seller.
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from a buyers' view...its the reverse, but still true..
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i buy a lot with minimum bid; i bid on even a "lot more." i especially find the "9.99" minimums, with big spread bin's especially vulnerable...i bid 9.99 on a miller lamp base...had a bin of `129.99...
i bid on day one, i won on day ten - at 9.99
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THAT IS WHY people bid low.
posted on June 13, 2004 05:03:35 PM new
Why are you bothering with a reserve. No wonder you have a high rate of deadbeats. Dump the reserve, list the items for what you are willing to take for them and if you still want to whine about the low bids, use FP.
[ edited by stonecold613 on Jun 14, 2004 08:06 PM ]
