mrssantaclaus
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posted on January 7, 2001 03:57:10 PM
Last night I listed a rare adult Nintendo game. I had an email this morning - I have been looking for this game can you please give me a BIN price?
Well, for me the fun in eBay is watching the bids come in - so I told him sorry.
Then a $1 bid came in. 2 Bid later it is at $52! AND the email guy has not placed a bid yet!
And ...... 9 days to go!
Oh, I love eBay!
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dthmj
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posted on January 7, 2001 05:27:24 PM
BIN's are a risk for both buyer and seller.
I recently had a widget listed with an opening bid of $19.99, and a BIN of $30.00. First bidder thought she might get it at a steal, so she bid normally. The widget ended up in a bidding war, and the original bidder ended up winning the widget for well over the BIN price... I bet she was kicking herself....
I of course was happy that the bidding went over my BIN... of course I would have been blissfully ignorant and happy had the auction ended with BIN to begin with...
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bobbysoxer
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posted on January 7, 2001 05:47:49 PM
Ah...when to BIN and when not to BIN, that is the question.
not bobbysoxer on eBay
[email protected]
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figmente
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posted on January 7, 2001 06:57:00 PM
Yes ebay there is a Santa Claus.
And beware unsolicited BIN offers if you don't have a good idea what the traffic may bear.
I've never made such a solicitation, but got one which I thought was a great bargain when the seller volunteered early close on last of several lots I'd bid on.
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nwphotog
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posted on January 7, 2001 08:25:03 PM
Question-When to use BIN?
Answer-Never!
I can't tell you the times I buy an item at $400.00 planning on getting $600.00 and ending up with $1200.00. Last week I had a piece of sw that I paid $7.00 for that normally sells for $24 to $40 that went over $100.00. What would my BIN be 20, 30, 40, 50, 60?I remember reading a thread here 1 or 2 years ago on the lady who listed an antique dish with a $100.00 minimum that went to what $15,000.00? Anyone have a link to that thread? BIN is for new items and for sellers who don't understand auctions.
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bobbysoxer
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posted on January 7, 2001 08:38:23 PM
I was demonstrating humor with terms of endearment. Sorry if I was misunderstood.
In my opinion BIN can be used in some cases but not in others.
I too found an auction that the first bidder started the auction off at the minimum and soon there was a bidding war that drove the bids way above the BIN. Sometimes that bidding strategy works and sometimes it does doesn't.
It all depends on the sellers desire of outcome. In my opinion it is another tool to consider when conducting an auction and when/what to bid.
not bobbysoxer on eBay
[email protected]
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kathyg
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posted on January 7, 2001 08:46:49 PM
A couple of days ago I was able to purchase a lot being offered in my favorite category for $5 via BIN. This auction was only a few hours old, and had the BIN not been there, I'm sure it would have gone for 3-4 times what I paid. This was from a Powerseller, listing a wide variety of items, and probably unfamiliar with this category.
Lesson learned: when it comes to unique and vintage items, do not use BIN. Or at least do a little research - Doh!!!
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ExecutiveGirl
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posted on January 7, 2001 10:15:33 PM
I just had 2 auctions end with BIN that I listed only 2 hours ago. I love BIN!!
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nwphotog
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posted on January 7, 2001 10:18:16 PM
Hi Kathy
Exactly! BIN is seldom if ever to the sellers advantage. An item doesn't have to be rare or unique for it to go way higher then you ever imagined. The sw I mentioned dhould have sold for $40 but at least 2 people decided they HAD to have it. Voila $100 plus. Obviously to many people buying on Ebay is not about price. You have to love it!
Dave
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mrssantaclaus
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posted on January 8, 2001 11:52:14 AM
Just checked my game - $77!
I am really starting to love eBay!
I have also done some research on other items I have listed and am going to do a combination of BIN and no BIN.
I think if an item usually closes at a certain amount, you can sell faster with BIN.
However, if there is no history for the item you are MUCH better off leaving it without a BIN and let the bidders bid!
$77 and 8 days to go - I am one happy camper here!
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nwphotog
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posted on January 8, 2001 01:43:27 PM
"I think if an item usually closes at a certain amount, you can sell faster with BIN."
That is a completely logical statement but in my case that would have netted me $40 instead of $100. Obviously buyers are often not rational but instead emotional when it comes to buying decisions. Ya gotta love Ebay!
Dave
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koto1
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posted on January 8, 2001 02:00:57 PM
One simple solution...just set the BIN for an amount much higher than you THINK the item should go for. If someone HAS to have it, they'll pay the higher price to secure it, and secure it NOW. On the other hand, a simple minimum bid will negate BIN and the auction will roll along as normal. Definitely don't undercut yourself as a seller when using BIN.
Personally, I think BIN is a handy little extra sumthin' that can work to the advantage of both the buyer AND the seller.
"Who's tending the bar? Sniping works up a thirst"
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nwphotog
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posted on January 8, 2001 07:10:21 PM
"just set the BIN for an amount much higher than you THINK the item should go for. If someone HAS to have it, they'll pay the higher price to secure it, and secure it NOW. "
Again logical but defeats the auction idea. On my item that normally sells for about $30 I would likely set it at around $40 missing the $100+ it brought. The anitque dish seller that thought her piece was worth $200 might have set it for $300 missing the $15,000 it eventually brought. Bottom line is people make emotional buying decisions on Ebay. Use it to your advantage; if two people want to pay $100 for a $30 item let at least one of them. Leave the bin for new items only.
Dave
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cyberjp
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posted on January 8, 2001 07:30:54 PM
One anooying thing is when someone sets the BIN at $8 and then starts the bidding at $7.50. Obviously they only intend to have one bidder on the item. Is this an auction? I think NOT!
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mrssantaclaus
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posted on January 8, 2001 07:37:02 PM
$152.50 - and still 8 days till snipe time!
ROTFLMAO
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