posted on December 5, 2000 06:11:27 AM
Just my .02, but I'm not going to be using BIN anytime soon again. We had an item listed with a BIN price and didn't get any action on the item until just hours before it closed, then it got bids.
Then, my husband found an item that closed in an hour that had a BIN price that was way too high for this item.
We concluded that if the person had just a regular auction they would have at least gotten a few bids and maybe sold it, (of course, we don't know what the reserve was), but that's really irrelevant. The point is, get interest in your item with bids and others will look at it.
Unless I have a cheap item with no reserve in mind, I'll use BIN, but if it's an expensive item I must place a reserve on I won't use BIN because bidders think that the reserve is too high when in fact my reserve was approximately $25.00 less than my BIN price.
We were hoping someone would see it and just purchase it (which is the point of BIN) and in the process maybe get a few extra $$$.
posted on December 5, 2000 07:08:38 AM
I have had good success with BIN. I listed a watch at $19.99 opening bid, hoping to get just that much. But put a BIN of $30. The watch sold w/ BIN in two days.
I have some collectables on auction right now - opening bid of $19.99, reserve of anywhere from $40-55 (lower range of what identical items are bringing on eBay), and BIN prices of $60-75 (highest selling price on eBay for indentical items). One just sold for the BIN price only one day after being listed. The rest have no bids, so we'll have to see what happens, but there are still 8 days left on the auction.
posted on December 5, 2000 07:40:40 AM
I have a lot of Hallmark ornaments I purchased last year and a few other little things that would make great gifts for younger people to give or those that want to keep their costs down. I have been selling these BIN and have been getting an 85% sell rate. One thing though, I watch my auctions fairly closely and can't get used to these auctions closing at weird times. I open these items with a price that I can live with and use that same price for the BIN. works for me.
