posted on August 22, 2001 08:20:31 AM
What is your opinion on auctions with reserve and Buy it Now?
Do they work or do they take the fun out of bidding?
posted on August 22, 2001 10:37:15 AM
I am a powerseller (not that it means much) with 1300+ positive feeback (no negs) and this is what I have found from my own experience:
BIN is good for quick sales......they seem to attract impulse buyers. That is as long a your BIN isnt outrageous but fairly close to your opening bid price.
Reserve auctions can do well depending on the item you are selling. If its a slow mover or something you can easily find elsewhere on Ebay it may not do that well. If its a high end or highly collectible item then you will see some action.
IMO I think that people like the fun of bidding.......I have done the $1.00 auctions (which IMHO are not worth it), $9.99 auctions and also started the item at the least I would accept for it (all with NR or BIN). All in all.....$1.00 had a lot of action but I didnt get what I felt the product was worth in most cases. The $9.99 auctions went well.....and starting the auctions at the least I would accept (fair price of course incl profit) went well with a BIN.
I would recommend you research your product on Ebay and see what they are closing for and use that information to help you figure a base price.
posted on August 22, 2001 01:40:38 PM
BIN is a great idea. I used to try and figure out if I should run a 3-day auction, a 5-day auction. Now all my auctions are 7 days with BIN. Most of them close with BIN, sometimes the day they are listed. Then I just go in and relist. The only thing I dont understand is why someone bids the BIN and then takes a week or more to respond to my email.
Personally, I hate reserves and dont bid on them. It's like walking into a store where the prices are marked but when you get to the counter, they want more. I dont want to read a seller's mind. If you want $100, start at $100, not $1 with $100 reserve. But everyone's entitled to their opinion.
posted on August 22, 2001 01:57:35 PM
I hate those auctions because if the reserve isn't "hit" then anyone can come and BIN. Takes all the fun out of it, so after watching a few go away - for happy prices for the sellers, I guess - I just don't bother with them.
