eventer
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posted on September 27, 2000 07:12:40 PM new
I sometimes purchase some items which were discontinued several years ago from a shop which was the sole original seller of them.
I buy them at 40% of original cost (still pretty pricey) & mark them up to 60% of original cost for ebay. I also have them for sale directly on my website at 70% of original price but don't include any links to my website in my ebay description.
These items are still pretty highly prized so I often get a good response on them. I only offer them on occasion to keep interest high.
The last few sales, the bidding has not only reached my website price, but actually gone well over the original cost of these items. I currently have one up for sale that has apparently become the target of a bidding war & the price has soared to over 250% of original price w/days left to go in the auction.
In the past when the final price has exceeded my website price, I've voluntarily lowered the sale price back to the website price even though the final fees do eat a bit into the profit margin.
With the current one at 250% & possibly going even higher, this has sparked some controversy in my household...my husband says I should honor the sales price, but include some lagniappe of enough value to make the customer feel good. I still feel I should lower the price back to the website price. When I've done this in the past, my customer's have gone on to be repeat customers who've left glowing feedback regarding my honesty.
So....what do you think?
1. Honor the price & put in some goodies
2. Lower the price to my website price even though I don't advertise my website to my ebay customers
3. Take the money & do the happy dance?
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mauimoods
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posted on September 27, 2000 07:21:36 PM new
Hi Eventer...I say go with your intuition. What comes around, goes around, ya know? And good Karma will come your way
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Glenda
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posted on September 27, 2000 07:26:33 PM new
A couple of things to consider before you lower the price:
- It may make the high bidder feel foolish that they bid so high on the item.
- The high bidder may think you were the other person in the bidding war.
- The high bidder may send the other bidder a "neener neener neener" email, in which case the underbidder will never bid on your items ever again.
Remember: YOU aren't the one setting the value of the item - the value is determined by the person who placed the highest bid.
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macandjan
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posted on September 27, 2000 07:31:52 PM new
[ edited by macandjan on Dec 3, 2000 07:58 PM ]
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seyms
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posted on September 27, 2000 07:31:55 PM new
It's time to do the happy dance.
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magazine_guy
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posted on September 27, 2000 07:43:29 PM new
It's an auction. You take some risk that your item won't reach the price you wished. When the item does better than expected, you reap the rewards of your work, and your risk.
YOU had the forsight to find and buy these things at a discounted price. YOU created the auction listing, took the pics. YOU helped create the market by incrementally distributing these. YOU developed the good will and good feedback that causes folks to want to bid on your items.
Don't bargain your high bidder back down. Remember, at least TWO folks thought it was worth that much- so maybe they know something you don't. If it will make you feel better, offer free shipping on the next auction win, or on this one!
Take hubby out to dinner, and toast to the high bidder! You deserve it!
Steve
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eventer
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posted on September 27, 2000 08:04:28 PM new
magazine_guy,
Tomorrow's my hubby's birthday..he'd like your advice.
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unknown
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posted on September 27, 2000 08:05:11 PM new
To lower your price on a legitimate auction is immoral and obscene.
They bid that price, they should pay it.
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rnrgroup
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posted on September 27, 2000 08:17:43 PM new
I agree with Magazine_Guy - offer free shipping - include a treat in the package if you must, even a discount coupon on next purchase, but enjoy your dance!!! -Rosalinda
TAGnotes - daily email synopsis about the Online Auction Industry
http://www.topica.com/lists/tagnotes
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fountainhouse
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posted on September 27, 2000 08:18:17 PM new
It's time to raise the prices on your web page. When you're fortunate enough to have exclusive access to these items -- and they start to take off as apparently they have -- you are in an enviable position.
These things are more popular than you realize. Continuing to discount the auction prices will undermine the market that's developing, or trying to.
Raise the prices to more accurately reflect the market. Continue to control the quantity available. And make no apologies for doing what any business person is crazy NOT to do!
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tattoonana
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posted on September 27, 2000 08:29:03 PM new
Eventer: I know you are a caring person. Just put in a little something extra, that's what I do when I get more than I thought I would. You deserve the money, go ahead--- do the happy dance.
Tattoonana
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atozbiz
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posted on September 27, 2000 09:15:54 PM new
I once list an used darkroom equipment. I clearly stated how much a new one would cost, $395.00 as list in photography magazines in the description. My reserve was $200. At the last few minutes it was bid to $375.00 I told the high bidder I can not in good conscience accept her bid since she is only $20.00 away from a new one. I lower the price to $275.00. I was very happy. She was very happy. It was a good deal for me and a good deal for her. Win-Win transaction.
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honestjonstoys
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posted on September 27, 2000 11:46:02 PM new
When the auction is over offer one to the second place bidder at the final bid price.
If it happens again I would consider raising the price on your website.
--------------
Don't take life so serious, it ain't nohow permanent.
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kellyb1
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posted on September 28, 2000 12:19:09 AM new
honestjonstoys: You might want to review ebay's policy on selling another to the second highest bidder. It's AGAINST ebay's policy.
When a person is outbid, the ebay outbid notice states,
"Safety tip: now that you're no longer the high bidder, you may be contacted by the seller or another person to sell you a similar item without going through eBay. Because this is against eBay rules and we cannot track such transactions, you would not be eligible for eBay's services that protect buyers, such as insurance or mediation."
All the bidder has to do is forward your email to safeharbor and you will be cited.
Glenda,
nicely stated, and I say "ditto"
Ebay is an auction, it is the bidders who set the price. I have never lowered an ending bid, but I will sometimes throw in more.
Also, by getting a higher bid, but lowering the price you will pay more to ebay for closing fees, so you end up making less.
I DO believe in karma.
Now if on the other hand a seller gets more bids by misrepresenting the item, this is a different story.
I once bought some items from a liquidation house and didn't realize how popular the items would be. I started the bids low, and when they soared I did the happy dance.
Kelly
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twinsoft
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posted on September 28, 2000 03:05:43 AM new
There is absolutely nothing immoral about selling the item at the final bid price. I agree with the gang on this one. If you have a problem with that, sell it on Yahoo in their "first bid takes it" format. I wouldn't have a problem. You can always donate the other half of the winnings to charity.
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cdnbooks
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posted on September 28, 2000 05:18:50 AM new
Eventer
Two things:
1. Offer one to the second bidder at his bid price.
2. Sell the rest to me at your cost so that you aren't troubled by this again.
Bill
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eventer
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posted on September 28, 2000 07:42:33 AM new
In your DREAMS, Bill! Only if you take the expensive kid this is supporting.
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pickersangel
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posted on September 28, 2000 08:13:07 AM new
Gotta agree with everyone else--include a freebie, give free shipping, but enjoy your good fortune and do a happy dance!!! As someone pointed out, in an auction, the bidders determine the value of the item. If this begins happening regularly, perhaps your items are underpriced!!
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bibliophile
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posted on September 28, 2000 08:51:21 AM new
Agreed. This isn't a moral issue, but a very wise man once wrote that it's entirely possible that there are only 20 or fewer persons on this planet who are truly pure of heart--and THEY are what holds the fabric of civilization together. Never underestimate the ripple effect of goodwill. It can touch millions before it laps the shore. That you agonize even slightly over this, eventer, is strong evidence you've been touched by one of these people, possibly many more times than you know.
Craig
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cdnbooks
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posted on September 28, 2000 09:01:15 AM new
eventer
I'm sure she is VERY nice, but I have a couple of expensive ones of my own.
It was worth a try though.
Bill
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lotsafuzz
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posted on September 28, 2000 11:47:27 AM new
All this talk of karma. Anyone think that it was eventers good karma that brought the high bids in the first place?
If you feel that bad about making money, send a little something extra. Don't lower the final price!
I don't know about anyone else, but it is those auctions that go 'wild' that cover those auctions that just die on the block.
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bettylou
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posted on September 28, 2000 12:59:16 PM new
To those who lower the final price out of a sense of guilt:
Please don't come back here and complain because a high bidder wants to bargain down the price of the item after the auction ends. You're asking for it. You're sending a message loud and clear: "The final bid price doesn't have to be the final price, ya know."
(Or do you already just numbly acquiesce to such demands to bidders, figuring giving them a break is easier than fighting over it?)
Look guys, if you want to be loved, get a puppy. eBay business is just that: business.
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junknjunky
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posted on September 28, 2000 02:30:39 PM new
DANCE girl dance!!!!!! Why would you get bad karma if you dont lower the price? You didnt make the people bid the way they did. The holidays are coming and you will need the money. If they didnt want to pay that much they wouldnt have placed the bid!!!
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mauimoods
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posted on September 28, 2000 02:51:08 PM new
Just wanted to hop in and say that my response of "good karma" meant that whatever eventer chooses to do, it would be fine. She expressed concern, which shows shes a good person and "good karma" is what she represents. Yes, perhaps that karma is what made folks come to her...who knows? Happy dance, eventer...happy dance
Good suggestions went your way too...one always can get good advice here in EO, yes?
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