posted on February 6, 2001 11:16:00 AM
I just tryed BIN on the last bunch of auctions with the BIN price just a few dollars higher than my starting price so the buyer had to pay a small premium for instant gratification. I was surprised how many people went for it - especially real new people. The thing I did not think through is if they BIN they want to be contacted faster than eBay gets the end of auction notice out.
I have had a couple people this week already e-mailing because it was 24 hours from the auction and they had no contact yet. The 3 day thing is not going to fly for the BIN customers so no more letting thge auctions ride for a day without checking them if I want to use that feature.
posted on February 6, 2001 11:27:19 AM
I never wait for eBay's EOAs before contacting my high bidders; otherwise, I take a risk of appearing lackadaisical in my approach.
I like BIN in some circumstances, but you have to be careful that you aren't under-selling your items. I've seen some BONUS items snapped up for shamefully low BIN prices because the seller had no idea of the true value.
You might also want to consider combining BIN sales with Instant Buy it Now through Billpoint -- will entice those instant-gratification types even more!
posted on February 6, 2001 11:41:45 AM
I've had similar experiences. The BIN buyers, no doubt because they are the instant-gratification type, seem to be very quick to contact me, often before I've had a chance to, though I rarely let things go longer than 24 hours. Also, they tend to be newer to eBay. In any case, it's been a positive thing for me so far, generally resulting in more profit and a higher percentage of sales. In defense of the traditional auction, I should mention that I've had several BIN listings in which buyers have passed over the option to close things out, gone ahead and bid, and the resulting auction realized a higher price than I'd originally set.
