posted on November 17, 2000 02:18:59 PM
spazmodeus
Think you all are over reacting - I sell on both Greedbay and Yahoo - I personally only use 1st Bid Wins for Yahoo, and was using regular auctions on eBay till BUY IT NOW started and I am testing the market to see how well eBay buyers will react to the format.
BUT, although Yahoo has had 1st BID WINS format for a long time, and many other auctions have too, I still see the predominance of auction running as standard auctions - particularly as soon as the "new' wears off - which will be a while, since I am not sure most bidders know or understand this new eBay format - I've had bidders on Yahoo that didn't and Yahoo has had this for ages.
All this is to say, many items will stay in the regular auction type categories - the only thing I can see which will be effected is the over priced items, which my have to get realistic with their prices, or the buyer will go with the lower BUY IT NOW price someone else has.
posted on November 17, 2000 02:48:17 PM
spazmodeus wrote:
>>The day it happens -- and that day is apparently anticipated -- we're going to see a segregation in the listings that's going to do irreversible damage, IMHO. <<
Yep, in about two weeks, according to Ebay employees in the chat rooms this morning. However, I don't anticipate the type of catastrophic demise of the current auction format that you suggest, despite the arrival of an icon. As I said, we'll have to remain in disagreement on this until we see how it all shakes out.
posted on November 17, 2000 02:56:23 PM
I can see the point being made, that Buy it Now will turn eBay away from a strict auction format, however, I beleive that it will also ADD to the auction experience....
Buyers have gotten savy, learned how to wait (for the most part) & NOT to place bids until the end of an auction (Watch Feature / Auto Sniping tools helping this strategy)....so how have sellers reacted to that?....Some, dare I say a large portion, have increased their opening bids to reduce risk of one, maybe two low bids & still remain profitable (in some cases, barely)....
Enter Buy it Now, a new strategy tool for the sellers....with which prices can be set to entice bidders to bid early (thus keeping the auction format alive & flourishing) OR "Buy it Now" for a higher price, that will keep sellers in the game (read: remain profitable)...For as long as an item sits without any bids & a Buy it Now option, said item can be technically "sniped" by a "Buy it Now" buyerat any minute...Increasing the "need" for the buyers to act quickly....
Of course, this strategy works primarily for the unique/odd/rare/different items (but NOT limited to high end merch, certainly, for we all know that there are niche collectors of almost everything out there!) & is probably will not be as effective for retailers (those who sell more common, new items)....As a buyer of new & used items on eBay, I would truly LOVE to see a separate division for the "retailers", as I want to buy from both, & would really like to simplify the "hunt" for the items I desire...
I enjoy the auction format, however, my objective is to be profitable and I will use the tools offered to reach that goal...
posted on November 17, 2000 03:40:33 PM
Bottom line for me is: "whatever moves the merchandise".....I closed down my brick-n-mortar stores to do this, this is my bread-n-butter....I understood the format of the venue of which I was entering and was happy to abide....however after 2 years of selling on ebay and seeing such terribly slow sales in the last few months, I am happy for the invigoration "Buy it Now" seems to be adding! Ebay may have started as an antique/collectible site but it has grown to a buying/selling site for all types of sellers and all types of buyers,and thank God for that growth! For the antique/collectible seller&buyer, they will most likely continue to do business they way they've always done it and good for them....As for the retail buyer/seller, "Buy it Now" is a great answer for being able to do business the way they want to do it (quick sales & buys). I myself sell both and I will use both formats, and will be happy for the choice!
posted on November 17, 2000 03:48:45 PM
Amy and Rancher, both of you took the words right out of my mouth! I'm willing to suspend judgment on this feature until we see how it actually works -- but after having seen my sales decline after 3 years on eBay, I am all for anything that "levels the playing field" for us. After eBay implemented the Reserve Fees last year, I decided it would be cost-effective for me to establish a website, which is the ultimate in fixed-pricedness -- and was surprised at how well it's done for me. If I had to rely strictly on eBay for my income, well I would be in a world of hurt right now.
As others have eloquently stated, perhaps BIN will at least encourage some early bidding again -- and counteract the effects of Watch and sniping.
But I suspect eBay will try to charge for this service, since they are on the lookout to charge for anything they think they can. I doubt I will pay for that because with Reserve Fees, Gallery Fees, Paypal/Billpoint, I am maxed out on the fees I can afford anymore. If BIN proves successful in terms of auctions closed more quickly and/or at higher prices than the auction might otherwise fetch, then in my opinion, eBay should be satisfied with that and not try to scrounge into our pockets even more. (If they do, BIN will be the thing that goes since I already have my website.)
posted on November 17, 2000 05:34:27 PM
Spaz said "As a bidder, it turns me off that I could be excluded from the possibility of getting items simply because I can't check my bookmarks every hour,..."
Hmmm... sounds like there's a business opportunity in there for a clever programmer. Something like esnipe.
Hooboy! Just think what that would do to the auction format!
posted on November 17, 2000 05:45:58 PM
brighid868
>>The day it happens -- and that day is apparently anticipated -- we're going to see a segregation in the listings that's going to do irreversible damage, IMHO. <<
AND YOU SAID:
"Yep, in about two weeks, according to Ebay employees in the chat rooms this morning.
"
What type of segregation of listings are you speaking of and how would they be segregated?
posted on November 17, 2000 05:54:45 PM
jwpc, I was referring to an icon, like the Picture icon or the Gallery icon that show up on the listings. The ebay employee on in the chat room this morning said they are working on such an icon at present and his guess for implementation time was about 2 weeks.
myself, I don't care about the icon---I want people to be attracted by my listing title first and *then* realize that if they wish, they can buy it now. or just bid. but a lot of people coming into the eBay Q. and A are asking for an icon or asking how to search for buy it now items. so I guess there is a demand.
There might be one positive aspect to this, for folks like us who use the format you mentioned...low opening bids on high-end merchandise...
For my auctions to be successful, I need bidders pushing the price up...competition between bidders is crucial for this format. Well, if my selling competition uses the BIN feature, and someone grabs their item quickly, and I have the same item up, aren't I going to pick up many of the bidder's who were shut out of that auction? Quit possibly, I think.
The above is the main reason I would never use the BIN format...why would I want to put a cap on the potential ending price of an item, only to see those bidder's who were shut out run off to my competition?
