posted on January 4, 2001 10:40:30 PM
With the success of my BIN auctions, it is obvious to me that buyers do like the "retail" model, which is exactly as it says-buy it now. As a matter of fact I did my Christmas shopping on ebay specifically looking for BINs and ignored the rest. Simply having a higher start bid without a BIN is pointless because the buyer still has to wait. We do live in a "I want it now" society, so I have to disagree with your entire points. Regular auctions are or had been exciting but it gets old waiting around to see if you win, than bidding on another to see if you win. BIN is here to stay, and it's more effecient, so it's nice to have.
posted on January 5, 2001 12:03:21 AM
My profits were up in 2000 - lots of others were down. I know several people that have quit selling on eBay. We are still successful, in part due to low opening bids and NEVER a reserve.
Retail Sucks...
MTOWN
PS. I do not bid on reserve auctions or retail priced "auctions."
posted on January 5, 2001 02:34:52 AM
Reserve auctions have their place just as nonreserve auctions do. It depends solely on the item and the category.
While 95% of my auctions are non reserve, nevertheless, certain items like my new Amish Quilts are not going to be nonreserve when they cost me $300-$500. Ok, so I learned the hard way that ebay is not a good venue for them but I'll keep them before I'll let them go for $50.
I think this holds true for a few other things. There may not be 2 good bidders that particular week and you always need at least 2 bidders that want the item.
I think the question is not do you have reserve auctions but do you get carried away with reserve auctions? If all your auctions are reserve auctions then maybe you're doing something wrong, buying too high, expecting too much, selling the wrong items, ect.
posted on January 5, 2001 05:28:51 AM
From my own experience: Before Christmas I was shopping for an expensive silver item for a gift. Found and bid on a number of reserve items, never hitting reserve. I am knowledgeable about the market for these items, and was willing to spend for this gift. Found one seller who had high-quality items being sold without reserve (low start bids as well).
As is my usual practice, I look at sellers other and past auctions, as well as feedback.
In this case, the no reserve seller (for the most part, although a couple of items over $5K had reserves) had very active bidding, and their reserve auctions met reserve. The final selling prices were certainly not give-away prices (I wish I could have gotten those prices when I was B&M). Sellers with the reserves had tepid bidding, very few sales, and many relists of items.
I know it is easy to just place a bid anyway and see what happens, but when I see a history of sales were reserves were never met
I feel it isn't even worth the effort. I think the no-reserve seller got action because people felt they actually had a chance to buy something.
So, this may be anecdotal, and only from a small category sample, but it's an eyewitness account.
Oh, and I finally did win one of the no-reserve seller's auctions.
posted on January 5, 2001 05:33:14 AM
I have to agree that I do better starting everything off at 99 cents with no reserve and will go back to doing so this week.
As a buyer, if I do a search - I always look at the one starting at 99 cents before I look at the rest... Why pay $24.99 if there's a chance I can get it for much less.
posted on January 5, 2001 05:56:24 AM
well, I gotta say as a buyer I love the $1 no reserve auctions, especially the ones that are by a rookie seller who think his mass produced item is going to get a lot of bids...he...he..
If I can find a misspelled item that end at 2:30 AM all the better.
I really think the real profit potential on Ebay is taking advantage of all you sellers by getting a lot of great items cheap and RESELLING them at my flea market booth. How unethical of me eh?
I almost always get a 200% profit margin on what I buy and usaully get my items at or below wholesale.
If a seller is listing some medium to low demand product in a field that is totally saturated I can REALLY pick it up cheap.
A prime example 1 box of pokemon cards $40-45
resell at fleamarket for $144.00 ! wohoo!
anyway you guys keep on listing your $1 no reserves and i'll keep getting richer
posted on January 5, 2001 05:59:28 AM
One thing that BIN has brought to my attention is that some buyers do prefer to Buy Now rather than bid and wait until the end of the auction.
However, I don't see myself actually paying to offer it as an option. If eBay were to begin charging for Buy It Now, I would likely just put BUY NOW in the Title of my listings and NOT pay to use their "feature".. I'd offer within the listing to end the auction early upon eMail notification from the bidder that they have placed the first bid. (sort of a "first bid wins" thing).
BUY NOW would appear in searches - so I wouldn't have to worry about whether or not I'd have the little Buy It Now ICON that eBay has attached to those listings.
Perhap I'd run SOME listings with BUY NOW in the title and some without. Regardless, I won't be PAYING to offer Buy It Now.
I agree with the original poster to this thread, the On Line AUCTIONS have been slowly moving AWAY from acutal AUCTION format in favor of a more RETAIL forum. Like everything else, the change has happened in stages...
posted on January 5, 2001 06:28:05 AM
A truly desirable item will always be safe to start @ 1.00 no reserve. No one is going to let that thing go for cheap if they can help it.
Got new leather jackets or K-Mart type merchandise? Better to start it at a no-loss price.
posted on January 5, 2001 08:10:19 AM
I certainly think if eBay can add the "BUY IT NOW" icon, they should put a "NR" or "RESERVE" icon in place.
It would save me a ton of time from opening an auction only to find that it is a reserve auction.
I too will not bid on "RESERVE" auctions. I feel it is a big waste of time.
I've done the homework on RESERVE versus NO RESERVE and quit frankly I don't know how a person can afford to keep running them at RESERVES because many close without ever reaching the reserve price.
I'v said it before and I'll say it again.
eBay needs a sister eBay...One to run antiques & collectables and One to run retail & "BUY IT NOW".
Furthermore, If I want new I'll go to WalMart and get it and I do "HAVE IT NOW" no shipping charges and no waiting for postal delivery.
.
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edited for packer by packer!!
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Having a BAD HAIR DAY! ...
posted on January 5, 2001 10:29:36 AM
Well, packer, in 2+ years of selling on ebay I've had ONE item with a reserve not sell the first time through. And as it was pretty funky, I couldn't get a good picture, and I'd forgotten to reveal the reserve in my listing (which is my practice) I'm not sure we can blame the reserve. It got 5 bids anyway.
posted on January 5, 2001 10:38:40 AM
eBay charges sellers a fee for using the reserve feature. Part of the appeal for sellers with a reserve is that they can list the item for an opening bid amount that is low enough to grab the attention of potential buyers searching within the listings but not be obligated to sell the item unless the bidding meets their reserve amount that is set at the time of listing.
Sellers PAY for this marketing ability.
If RESERVE icons were plastered all over the listings for every item with a reserve, fewer buyers would visit those listings (putting sellers of Reserve Auctions at a disadvantage) and sellers would be less satisfied with the venue. In turn, eBay makes LESS money on listings that would have otherwise created revenue from non refundable RESERVE FEES paid by seller at the time of listing.
I realize that buyers sometimes get impatient or don't have the time (or make the time) to wade through a bunch of Reserve listings IF they don't like to bid on reserve auctions... but PART of the thrill of obtaining our desires is if they doesn't come easily.
posted on January 5, 2001 01:07:07 PM
No minimum, no reserve austions can certainly be interesting, but they are perforce down as the general ebaY results are down, and last minute snipe bidding up.
Most seller's can't take the risk of a giveaway result. Frequent ebaY partial downtimes, with their decision not to extend auctions unless site is down hard 2 hours, increase that risk greatly as they may prevent bidders from competing at closing time.
Experienced seller's who know their market and that their item will generate interest can do great with the format, but others need to recognize the truth in stampdog1's posting.
posted on January 5, 2001 01:30:29 PMloosecannon: "A truly desirable item will always be safe to start @ 1.00 no reserve. No one is going to let that thing go for cheap if they can help it."
True. Unless, of course, eBay happens to crash at an inopportune moment and all the big spenders were planning on sniping...
Barry
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The opinions expressed above are for comparison purposes only. Your mileage may vary....
posted on January 6, 2001 04:24:27 PM
good point godzillatemple. I know all too well what that's like. But I still have to say that I get better results with $1 no reserve auctions. Just had one end today as a matter of fact. It was an item that I listed twice at an opening bid of $24.99. Then I finally listed it at $1 with no reserve and it closed with a final price of $31.00. Go figure.
