posted on May 30, 2001 11:46:11 PM
I just had an interesting idea (to me at least) for an auction format based on some of the new tools eBay has given us:
Start item at lowest acceptable price.
List for 10 days.
Set the BIN price to the highest the item could possibly fetch based on your research.
Restrict the bidding to authorized bidders only.
Indicate in your auction description that you will consider lower offers from interested bidders. Should you accept their offer the BIN will be lowered and their ID authorized.
--Using this method you could pre-screen your potential buyers feedback and possibly end the auction quicker with a higher price. You also lockout lowballers who might want to spoil your fun. Don't know how well this would work, but it might be worth an experient with a desirable item.
Another variation would be to collect offers until a certain date with the highest offer becoming the new BIN/Authorized Bidder.
