posted on December 3, 2000 09:50:36 PM new
eBay's BIN isn't like Yahoo's. It is good only until the 1st bid is placed. If the first bid is less than the BIN, then it becomes a regular auction and the option to BIN disappears.
posted on December 3, 2000 09:51:55 PM new
Buy It Now is an option only available to the first bidder.
If you are the first bidder you have the option of making a regular opening bid or making a buy it now bid.
If you make a buy it now bid then you have bought the item and the auction is over.
If you make a regular opening bid then you are indicating that you want the auction to proceed as though buy it now were never an option. In other words, you are hoping to win the auction at a price less than the buy it now price the seller set.
Hello Sulyn,
Not exactly. A bidder theoretically could make an initial bid at or above the buy it now price. If the bidder did not choose the buy it now option when bidding then it would register as a regular proxy bid and the auction would continue.
Notice, I say theoretically. If someone is willing to bid at or above the buy it now price then presumably they would simply buy it now.
I recall on eBay Q&A some discussion about a bidder who bid on a BIN item, then retracted their bid and rebid using the BIN option. The seller couldn't understand what had happened. Some of us surmised that the bidder had simply made the regular bid by mistake and retracted so that they could place the BIN bid.
[ edited by codasaurus on Dec 3, 2000 09:57 PM ]
posted on December 3, 2000 10:15:50 PM new
I'm aware how BIN works, but I'm just wondering why it's only available to the first bidder? Why isn't it an option for any bidder?
posted on December 3, 2000 10:21:58 PM new
I like it better than Yahoo's buy price, actually.
The first bidder can buy the item or take a chance and start the auction.
Do you want to pay a little more now? or bid low and risk snipers?
Much more interesting than yahoo.
--------------
Don't take life so serious, it ain't nohow permanent.
posted on December 3, 2000 10:39:40 PM new
The current BIN scheme encourages potential buyers to check newly listed auctions, not just browse auctions closing in the next 24 hours. In recent months, categories have gotten so crowded that many folks were just looking at auctions about to close, to see if they could get a "deal" and because some didn't want to wait for a week to get their item.
BIN solves both of these problems- it allows potential buyers to get their item more quickly, and it encourages folks to check newly listed auctions. eBay even went one step further- they are leaving closed BIN auctions in the search results- a reminder to widget shoppers that they could have had that widget, if only they'd found it before the BIN buyer.
I like this system- I've sold about 100 BIN's in the past 2 weeks- about half my sales now!
posted on December 3, 2000 11:18:21 PM new
another cool feature is the ability to link your closed BIN auction to your relisted auction.
--------------
Don't take life so serious, it ain't nohow permanent.
posted on December 3, 2000 11:33:26 PM new
"Bay even went one step further- they are leaving closed BIN auctions in the search results- a reminder to widget shoppers that they could have had that widget, if only they'd found it before the BIN buyer."
Actually, they didn't do that intentionally. Closed BIN items were supposed to move to Completed immediately - instead, they're remaining until the auction end time is up. They are working on fixing it.
posted on December 4, 2000 12:31:05 AM new
I'm glad they're working on a fix. That's really ticking off a lot of bidders. They go to an auction and it's already closed, try the next one, closed, and again. They finally give up because of hitting so many closed.
Ebay's actually losing some money as a result. I'm sure this is happening to more sellers than just me. I have had quite a few people hit BIN closed auctions and then they write to me.. I see you had a widget for sale but it was already sold by the time I got there. Would you care to sell one to me? Ebay just lost their fees because they didn't take the auction out of the open list for a week and I hadn't reposted another yet. It's a bit like free advertising.
On other occassions I've listed another because a BIN item sold. Now the search list has both of them. Of course the bidders go to the first one and it's sold. Then they have to go to the next one. Kind of like competing against yourself and annoying the bidder at the same time.
