posted on January 16, 2001 07:54:05 PM
On the Announcement Board, BIN is continuing and free through first quarter.
I guess with the other fee increases they aren't yet charging for BIN. My opinion is that a fee for BIN will come later in the spring and that FVF will also go up, perhaps Sept. 1
posted on January 17, 2001 06:10:30 AM
Lol. I saw the title and thought you were making a pledge. BTW I would never use BIN as it costs auction sellers money, sometimes BIG money. What was the bin on Mrssantaclaus's Nintendo game $15? It ended at $300+! 2001 is the year to work smarter and more effecient. Good luck in all your auctions!
While it is true that I am addicted to BIN, I'm not about to embark on a 12 step program.
Like much of eBay, it depends what you sell. A lot of my collectibles have an established range of selling prices. So, for me, the risk of BIN is low. The benefits of quick sales and assured prices are high.
posted on January 17, 2001 07:55:00 AM
Bill, I agree with you. Most of what I post on eBay are handmade stuffed animals I make myself. Usually get one buying bidder. BIN makes the turnover faster, and supplies the cash to pay for the next two animals. Waiting offers no profit.
One the other hand I have on occasion sold vintage items that have been sitting around since Noah left me on top of the mountain as the waters receded. One item originally listed at $5.00 (and I would have been happy to sell at that price because I just wanted them out of the apartment) eventually sold for over $50.00 BIN wouold definitely been foolish there.
IT ALL DEPENDS ON WHAT YOU ARE LISTING.
posted on January 17, 2001 08:28:27 AM
Well... Without meaning to be offensive, BIN should almost NEVER be used. It is appropriate for new items including handmade items and I guess if there are dozens of your used item listed. Otherwise NEVER. For example I just sold a 10 year old piece of sw worth $25 from an Ebay auction 2 weeks ago for $100+. I considered putting a BIN of $35-$40 on it. What a mistake that would have been! Of coarse good luck in all of your auctions!
posted on January 17, 2001 08:39:59 AM
It all depends on the item.
I had a DVD that I would have been very lucky to unload for $9.95 (my opening bid price). 7 days into a 10 day auction and this loser still had no bids. Then, on day 8 some impatient buyer bought it for my BIN price of $19.95 - Other copies of this readily available DVD often don't sell at all or sell for right around $10 - It can be bought brand new/retail for $16.95
Would I use BIN on items that aren't so readily available? Nope! I only use it on items that I know the value of and are readily available. Then, I set the BIN on the high side specifically for the impulse/impatient buyer.
posted on January 17, 2001 08:45:19 AM
Agree with borgt! Many items have pretty much a finite value. I use BIN very successfully because I sell such items and am fully aware of their retail value and what I can get selling them on ebay.
Other items, such as many collectibles, do not have such finite value and, unless you have good tracking on what you could conceivably get for them, it would not pay to use BIN.
posted on January 17, 2001 08:48:20 AM
I have an item that typically sells for $10 to $15, with an occasional (once every 3 months or so) sale at $25. In order to get that one $25 sale, I'd have to list 12 seven day auctions, resulting in an average of 11 sales at $12.50, plus one at $25, for a total of $162.50 in 3 months.
Or I can list the item as a seven day auction with a BIN price of $12.50, and, on average, make a sale every 3 or 4 days (say 2 per week), resulting in 24 sales for a total of $300 in 3 months.
This is not a new or handmade item, and there are usually only 1 or 2 listed on eBay at any one time. Without meaning to be offensive, tell me why BIN is a mistake.
posted on January 17, 2001 08:51:38 AM
I've offered the BIN on my Plush sets, individual plush dolls, trading card sets and ornaments.
I've had the BIN used with the sets that I start at $25 and set BIN at $49 - might have gotten more, did on 1st set I put up, but the last set went for only $31, so I was happy to get that price. Have set the BIN up about average national retail, maybe a bit higher, and gotten some good results.
Will I keep using it once the fees are charged? Probably not.
mrpotatoheadd
Without knowing more it is hard to comment but my example listed before is an item that always has 2-10 listed and sells for $25-35. My ending price? $100+. If you are listing the same item over and over and over, I think you are correct to BIN it.
katiyana
With new items I think there is no question a high BIN is a good idea.
With that said again it is important for the average auction seller to NEVER use BIN. Like anything there are exceptions but for MOST BIN will lose you money 99.9% of the time. My previous example and mrssantaclaus' are PERFECT examples. Of coarse good luck in all of your sales.
posted on January 17, 2001 09:29:14 AM
I have some 'stuff' from last year that for whatever reason would not sell. I have been putting these on BIN (not all of them) and have been successful. There is a point in time where I have to tell myself that 50% is better than nothing and besides I need the space. My daughter left home and her room is now one of my 'warehouses' and is already getting to look like an old antique shop. So, I need to move 'em.
With that said again it is important for the average auction seller to NEVER use BIN.
If you are assuming that the average auction seller does not know the value of the item he is selling, I agree. Of course, the average auction seller does not regularly have items for sale such as the one mrssantaclaus did.
posted on January 17, 2001 09:30:13 AMbut for MOST BIN will lose you money 99.9% of the time.
Hogwash.
I know my merchandise, and the eBay market [been selling there for going on 3+ yrs], and I use BIN on "vintage" items from time to time.
The other day I had an item listed with an opening bid of $49.99, with a BIN of $100. It was snatched up in less than 24 hrs.
Why use BIN? IMO many times it can force the hand of bidders. 1. Either they bid early to kill the BIN [yay, I have some "early" action], or 2. The nervous nellie types decide they don't want to chance a bidding war near the end [aka sniper party].
Does it work, yes, for me it has many times.
Considering this item generally sells for $50-75, and to the best of my knowledge has NEVER exceeded $100, and the market for this particular item has been rather soft for the past year, I'd say that using the BIN was a very smart idea, that got me the exact results I was hoping for.
To each their own, but please don't assume that you know more about the market, or my merchandise, than I do, 'cause ya don't.
posted on January 17, 2001 09:45:16 AM
I just went on ebay to look for a certain item for my daughter's birthday. Plenty of stuff listed, but I don't feel like the bid and wait game, so I looked for BINs. Guess all the stuff I would prefer are already sold or not listed. I ended the session without buying anything.
Meanwhile, I listed a small lot of toddler clothes [unusual for me] with a BIN set at a nice price for me, but entirely reasonable. Bam, it's sold, I have the PayPal payment, and it's out the door tomorrow!
posted on January 17, 2001 11:32:09 AMWithout meaning to be offensive, BIN should almost NEVER be used.
I don't find this comment offensive. I find it AMAZING.
It's amazing that you know more about running my business than I do. I guess you have a better understanding of my costs, average sale prices, and profit margins than I do, because I've analyzed it pretty thoroughly and I've deteremined that BIN is an excellent option for me. But what do I know?
So thanks for the advice. Do you also do fortune telling?
posted on January 17, 2001 11:55:56 AM
BIN requires that the bidder/buyer have a credit card and not be afraid to use it. I find this to be the best part. So far, not a single deadbeat vs. 2 to 3 a week with the non-BIN winners. That is almost worth paying for.
Yesterday, one ended with BIN. Customer sent an email a couple minutes later letting me know he had ended the auction. I sent him our EOA notice with our toll-free number. Two minutes later the phone rang, two hours later his package was at the post office, two days later he had his item. That beats the crap out of waiting for checks and playing games with bimbo buyers.
I have had other auctions end with BIN and found out about it by receiving a "you've got cash" email from Paypal or Billpoint or when the phone rings because the customer is ready to pay. That far outweighs any potential lost profit from selling at a lower price.
posted on January 17, 2001 12:44:52 PM
Ah the BIN user come out in force and with a vegence! All very knowledge and intelligent folks. Nothing said was meant to be taken personally but of coarse as humans we often do. Unfortunately they are for the most part wrong. If they are happy using BIN they should of coarse continue. It is losing them money but hey it is only money. The arguments on both side have been outlined clearly with no need for me or them to restate. Again good luck in your auctions and your personal life.
posted on January 17, 2001 01:21:49 PMIt is losing them money but hey it is only money
Bidder looks at your listing. Sees it has 6 days to go. Looks at my listing and sees that they can BIN for a couple bucks more and have it sooner, and they do. Now who lost money?
posted on January 17, 2001 01:30:47 PM
MrJim ...... Eggzactly. The reality is, some buyers don't want to sit around for 7-10 days waiting for an auction to end. I kinda like the impulse buyers, for some items the BIN works very well.
posted on January 17, 2001 04:12:07 PM
sshhhhhhhhhh!!! ebay surely reads these boards and will charge a $1 for BIN if they relaize the success sellers are having with it.
Seriously, they will have a BIN fee regardless. Buyers will start complaining that BIN listings don't give them a chance to bid and sellers will say "don't get rid of it,"
so ebay will discourage the use by a hefty fee.
posted on January 18, 2001 04:34:44 AM
Ebay will eventually charge a fee for BIN, but the question is, how will they charge.
Technically, it is not a "listing" option. It is a "buying" option. Listing options, such as bold and feature are designed to generate more bids. BIN does nothing for the buyer or the seller unless it is used. The charge for it is more of a FVF charge and should only be charged if it is used. This would make Ebay happy with the extra revenue, and most likely keep the sellers using it. If the fee is 25 cents, just add 25 cents to the BIN price and everyone is happy.
posted on January 18, 2001 10:06:50 AM
OK, let's see if I can still UBB ....
I have been experimenting with BIN quite a bit and with good success. What works for me may not work for you. If I have realized a profit on an item, I have not "lost money". Quick turnover is often good.
MrJim has made several very good points, but he also says
BIN requires that the bidder/buyer have a credit card and not be afraid to use it. I find this to be the best part. So far, not a single deadbeat vs. 2 to 3 a week with the non-BIN winners. That is almost worth paying for.
Actually, it is not true that BIN requires the bidder/buyer have a credit card! -- unless the seller so requires -- although eBay recommends using "Instant Purchase" with Billpoint. I have had several BIN buyers pay "the old fashioned way" by mailing a money order or check. I have had no deadbeats with BIN.
Also, MrJim I would hope that when eBay starts charging for BIN they charge as a fee IF SOLD by BIN. However, it is up to eBay how they will structure their fees and NOT for us to decide.
Thanks to all for posting good thoughts here whether I agree or not.
