posted on October 11, 2009 08:42:33 PM
Which format is best? I used to think that BIN was not appropriate for collectibles - that you missed the potential upside in a bidding war. However, in the last two years I've seen fewer and fewer bidding wars. Even when an auction has 6 watchers, I still get opening bid. Now that BIN core has been extended to 30 days and I offer free shipping, I get higher buy-through rates on my BIN than on my auction items, which are far better cards. I research before listing - if a card is unique to eBay, I usually list it as auction unless it is in a category I never get multiple bids on. If the card is not unique to eBay, I usually list it as BIN, free shipping, knowing it will be on the first page most of the month and hoping that it will create an urgency to buy rather than comparison shop (my prices are generally higher than almost all of the inexperienced sellers). Friends and family who help pick cards are pressuring me to go back to auction format. Collectible sellers, what do you feel is the best format?
posted on October 12, 2009 04:57:54 AM
I use auction format almost exclusively, but, that is because I do not have the confidence to price my things (one of a kind, glass, fabric, figurines etc.) and I really also enjoy the surprise when something I might have priced at $19.95 ends up going for $51.00. I am sure some more Vendoians will chime in shortly, everyone is always so helpful here.
posted on October 12, 2009 05:37:32 AM
I list everything in auction format first and if it doesn't sell, I than put it in BIN format at a higher price until it does sell. I find most of the time the offers on the BIN are higher than what I had on my auction. I guess I just needed the right person for that item.
If I have a sure seller - I put it in auction at a low price and watch it go up. I still love the thrill of bidding wars - just don't get them as much anymore.
This plan has worked well for me but I don't sell like items.
posted on October 12, 2009 06:02:19 AM
Here's a graph from my monthly sales report. This is why I prefer auction format:
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posted on October 14, 2009 03:21:33 AM
I prefer Auction for unique postcards,30 day FP for items that are unsuccesful the first attempt at auction and FP store for items that are common. On the FP store items I underprice the competition or don't repost the postcard. Items that don't meet my requirements for posting in eBay stores go to my Vendio store where I price them lower and eventually sell most of them. Records show that 90% of my postcards have sold from 1999 until August of 2007. Since August 2007 results are 50% sold. I am not happy with eBay store results and my next project will to evaluate hit rate. Low hit rate items in eBay store will be posted in Vendio stores only for eventual sale. Hopefully this will increase the quality of cards for sale in eBay stores. I only buy high end cards now and have seen much better success with pricing wars with them. But the good old days are over. Chuck
