posted on June 21, 2000 09:20:42 AM new
We put up 90% "first bid wins" auctions. It is effective and the quick turnover is appealing to us.
I am posting to others using this format because I would like to see a standard search string for these type listings emerge. I have been tracking the total # of listings in this format for my own curiosity using "bid wins". I will pick up One Bid wins, 1st bid wins, First bid wins, but I will not pick up One Bid Buys or One bid takes it, etc. etc.
I wonder if we might try to create a standard ( ala NR is No Reserve) so that a buyer who prefers not to wait for auction end could find us easily by searching "widget bid wins". Seems to me this would be in our best interest. Anyone?
posted on June 21, 2000 11:40:30 AM new
I started putting "First Bid Wins" in the title and also at the end of the item description. I've noticed an increase of sales since starting this about a week ago. I think by putting it in the title where they see it before going to the listing itself really helps.
posted on June 21, 2000 04:51:38 PM new
caraltonsa - it helps a lot and I know why. For people with cable access shopping with pics only, you see a pic and an price. When you put your mouse over an interesting item in a catagory the title shows. Since the price tends to be high because the thing is "one bid wins" it is a good idea to let a potenial buyer know that one bid is all it takes or or you may be passed over.
posted on June 26, 2000 01:04:57 PM new
VeryModern: I think it is important to never underestimate the possible confusion of the potential bidder, who need not even be a newbie, to feel absolutely clueless...
LOL...
Uhm, therefore I suggest that it *might* be helpful, in the final formalization of the FIRST BID WINS formula, to always also have the following two words:
posted on June 26, 2000 01:18:37 PM new
Has anyone tried "First Bid Wins" on Ebay?? You would have to keep a close watch but you can end your listings early.
posted on June 26, 2000 01:23:00 PM new
I think that some folks use it, but I dunno how they make the time to babysit their auctions on the eBay to eliminate further bidding...
posted on June 26, 2000 01:38:15 PM new
radh - I agree and I spell it out in the auction copy. I have tried One bid buys, first bid buys one bid wins and first bid wins.
I decided that FIRST was more specific than ONE, as well as being psychologically more attractive. One may be lonely but First is First, ya know?
Then I decided WIN was more appealing than BUY and so I personally go with FIRST BID WINS in the title.
posted on June 26, 2000 01:44:44 PM new
I tried 1st Bid Wins on egreed and it was a Huge Success for me personally. I only did it with 2 high-end items that I had lots of. I was shipping $138.88 and $64.88 Music Boxes outta here like mad. So, YES, it certainly DOES work! Several people were listing the exact same Music Boxes and CHEAPER than mine! But, Mine were the ones that were selling! Cool, eh?
Very Modern--I must say that I've been reading all your tips and ideas for us newbies here at Yahoo, and I so totally appreciate what you are doing for us! I owe you Big Time Lady!
Grapey
posted on June 26, 2000 02:18:02 PM new
heygrape -- did you ever have more than one bidder, on your first bid wins, over at the eBay?
That could be a real problem if one is selling one-of-a-kind singles.
I think that plenty of folks would rather buy NOW from you, with ONE bid, with your excellent feedback, than put in the time & vaguaries of the eBay auction.
VeryModern: Yep, that ol' "wins!" is a farsight more psychological appealing, for shhhhure!
So, it's best, you think to only have the 1st-B-W in the title, to not put anything about "Buy N@W!" in the title, but only in the description.
posted on June 26, 2000 02:35:26 PM new
>>So, it's best, you think to only have the 1st-B-W in the title, to not put anything about "Buy N@W!" in the
title, but only in the description. >>
I don't know radh. I've never tried it, but am inclined to use the rest of the title for search words, which is why I started this thread. I would like to establish a standard that people could search with to find auctions in this format. Search phrase "Widget bid wins" As both a buyer and a seller, I want to be able to find these auctions.
I personally won't bid/buy anything at auction unless I can snipe. However, I've got money and I spend it online. It is people like me that I want to accommodate, along with those with a deadline, those who want instant gratification, those who purchase on impulse, those who buy what they want when they see it no matter what it costs and on and on and on. See, people in the world who buy at auction are a tiny minority.
posted on June 26, 2000 02:43:23 PM new
Elsewhere, on other forums, I've briefly mentioned that I took a serious research trip into The Internet Shopping Experience, and really, the whole kahboozle is SO much of a hassle, and tedious, and dull, and b-o-r-i-n-g and frankly, abit stoooooooopid.
Anything, repeat: anything that creates any degree of difficulty, no matter how infintesimal, from getting any specific item into the hands of the specific impulse shopper who wants it .... that *anything* is a deathknell to the successful sale, verily, lerily, verilee.
Boy, I learned sooooooooooo very werry many many many things from my almost half-year foray into the ranks of consumerism. Boy, oH b0y!!! LOL
posted on June 27, 2000 10:45:13 AM new
More than one bid on 1st Bid Wins Auctions is G-R-E-A-T! I just email the higher bidder and explain that I am canceling his/her bid because the 1st Bid Wins, but I have more if he/she would like one at the lower price of the 1st bidder. Sold several off auction. No lose situation.
posted on June 27, 2000 01:49:38 PM new
Because of the phony bidders on Yahoo and the folks who are just confused, I have found that with a buy price I wound up with too many closed auctions that went to deadbeats. So I changed my practice. I start my auctions at the minimum price I am willing to take with no reserve. Then I put in bold as my first sentence: Due to the number of phony bidders on Yahoo, we only accept bids from foks with a positive rating or folks who email us upon bidding. If you have a zero rating and do not email us, your bid will be cancelled. This item has a "buy-it-now price of xx. If you dont want to wait for the auction to end, bid xx, email us and it's yours." The buy-it-now price is only a few dollars more than the starting price. A lot of my auctions end in one day at the buy-it-now price and the bidder emails me and it's a done deal. Deadbeats have really fallen off. I do get fewer bids than I used to get, but I also used to get 1 in 3 deadbeats.
posted on June 27, 2000 02:49:47 PM new
yisgood- your description is quite adequate. If the ONE BID WIN attracts deadbeats - it ties up our merchandise until we realize we been had--So- how about in the heading --
BID or BUY?
That way as you said - they could bid on it - but the BUY NOW price is available for the person who pays that price IF there are no other bidders at that time.
i.e. The start bid is 20.00 with a reserve of say, 50.00 (which is disclosed on the auction description)
IF someone wants it - and there are no bids yet - and will pay the res- they must contact you- and say they will pay the 50.00 and you CLOSE the auction.
If there are bids - it wouldn't be fair to the bidder to have it close without a chance to meet res -right? Unless of course it is the buy now bidder. Just some options to ponder but everyone here is trying to design a feature that Yahoo should be on the ball with......don't find them too creative, do you?
posted on June 27, 2000 04:53:10 PM new
I dont want to sound like I have all the answers, but after 18 years in business and over a year on the Net, I did a lot of experimenting and have come up with a formula that works for me on Yahoo.
First off, I never use reserve. I hate them when I bid and I think most bidders hate them too. Why should bidders have to guess what the seller wants? When you go shopping, would you go to a store that has no prices and you only find out what they want at the register? Start the auction at the lowest price you will take. I start mine at my cost (including any shipping, listing fees, etc) so at the very least I gain a customer and break even.
My message says the first person to bid the buy price wins. Once that price is met, I must close the auction. Occasionally someone will even bid beyond that. If I have another of the item, I offer it to both at the lower price (which earns me great ratings and repeat business and referrals to friends). If not, I cancel the second bid. If the second bidder emails to ask why, I explain that someone met the buy price. I ask the bidder if I should contact them if I can find another one. Now with an almost guaranteed sale at a known price, it makes it easier for me to find that same item at a price which will give me a profit.
There is more to this game than just buying something and selling it for more. There is a business to be built and it is built on customer satisfaction, referrals, repeat business, building up a "back list" of people who are waiting for you to get stock. My last two auctions for digital cameras closed the same day they were posted at the "buy-it-now" price and I have 8 customers waiting for me to get more. I am not a magician. This is something anyone can do who is willing to invest a little time, patience and foresight rather than jump for the quick sale.
posted on June 28, 2000 07:39:33 AM new
Devil's advocate here. I don't want to come across as being against "First Bid Wins" but did want to point out other views of it. I use a buy price on my MARY KAY (yikes, now I'm in for it!) auctions on Yahoo!. I have the buy price a dollar or so above the opening bid. Most people will pay a little more to get it right away and I sell lots that way. I'm not sure if I'll use it on the other auctions I plan on posting there but will probably experiment with it. I just like the idea of the auctions being an auction and not a store so that is how I will run mine.
The big problem with the buy price being the same as the opening bid comes when potential sellers are looking at Yahoo!. Since you cannot search closed auctions you do not see these bids. A Yahoo! newbie will look, see no bids, and move on without realizing that LOTS is selling. I think this hurts the site as a whole. It may do us more good to raise the buy price slightly above the opening bid. Many bidders would still use the buy price (giving a little extra money to the seller) option but more items would show up with bids when they are searched (helps everyone). JMHO!
BTW - It's great to hear so many people having good luck on Yahoo!. I've got lots of inventory to put up and will do more on Yahoo than on eBay. I just can't seem to get excited about posting there anymore.
posted on June 29, 2000 07:19:52 AM new
Yisgood & rahl
Think this is a great idea on Yahoo, but very touchy on eBay and that is if one is constantly canceling auctions on ebay to make sure the "first bidder" wins, that it won't take long before eBay catches on to this and puts a stop to it.
Won't this cut eBay's percentage out if the auction is canceled?
At the moment think I'll just keep an eye on this approach for eBay....I run too many auctions when I am on the boards to keep up with this approach on eBay, at least at the moment.
BY THE WAY, do you think many of the newbies (which is what I encounter in a GREAT degree on Yahoo) have any idea what NR means? (No Reserve)?
Regarding "First Bid Wins," to save space I use "1st Bid Wins".....works fine for me.
posted on June 29, 2000 09:49:23 AM new
I checked out 1st Bid Wins before I started doing it on ebay. I got the word from Griff himself. As long as you don't cancel the 1st bid and ebay gets its cut you are not breaking any rules. No problem with ebay if you end the auctions early when you get your 1st bid.
posted on June 29, 2000 06:14:31 PM new
jwpc: Interesting question!! w@w!
I'm gonna think about that for a while, and I also wanna re-read this messagethread in entirety, first, before I deal with the "KISS" Concept which means Keep ItShort & Stupid, what I personally prefer to refer to as, Dumb it down to the MAX! lol
Adage from the Maharadhdi:
Never underestimate the *cluelessness* of the Clueless!"
posted on July 2, 2000 05:41:01 AM new
Another observation on this, for people selling multiples, first bid wins.
You put the thing up and get a few people watching but no buys. A week passes or maybe 2 or 3, or even 4. I suspect people are comtemplating. They have a false sense of security, thinking they can come back and buy anytime. After all, this is Yahoo and *no one* shops Yahoo.
Then someone buys. Bam - it's gone.
I often get the sold widget in the buyer's hand before re-listing, so I will not relist for maybe 10-14 days. Invariably when I do re-list, the thing sells within a day, very likely to one of the original "watchers" who decides they have seen enough.
Besides teaching "snooze you may lose", this also has the same effect of when auctions used to be bid all the way along, the bidders being validated regarding the amount they bid by another persons willingness to bid more.
Now I am guessing that if you are watching an auction and it sells "buy price" you are notified. (Can someone confirm?) So nice of Yahoo to remind the buyers that something they were interested in is no longer available. Great motivation.
oh.. and on the flea market thread (is that this one?)..
I have had several people post me to haggle on the 1 bid wins price. Took one offer, turned down two and did not mind in the least that someone asked.
posted on July 2, 2000 11:34:40 AM new
...if you are watching an auction and it sells "buy price" you are notified. (Can someone confirm?)
That's correct VeryModern, if they put it on their watchlist (as opposed to writing it on a note). The watchlist would change from 'time left' to 'auction ended' and show the ID of the high bidder. The note writers would be out of luck, they would try to pull up the ad # and would only get 'cannot access auction'. Hopefully they would re-enter it as the search term & find your next ad.
A saavy bidder would leave it on their watchlist to pull up the ad the next day and click "sellers others auctions" to see if they have listed a new one.
I don't want to come across as being against "First Bid Wins" but did want to point out other views of it. I use a buy price on my MARY KAY (yikes, now I'm in for it!) auctions on Yahoo!. I have the buy price a dollar or so above the opening bid. Most people will pay a little more to get it right away and I sell lots that way. I'm not sure if I'll use it on the other auctions I plan on posting there but will probably experiment with it. I just like the idea of the auctions being an auction and not a store so that is how I will run mine.