posted on August 29, 2001 07:14:39 AM new
I really cannot understand the bidding behavior of some folks. I usually offer something with a decent starting price and offer a modest Buy It Now that is still a bargain. So why is it that some bidders think that no one else will bid and just play fairly close to the starting price and only bid more than the original BIN when others bid? Perhaps some do not have credit cards, but I doubt it as at least half of my bidders pay with CC payment methods.
posted on August 29, 2001 07:34:01 AM newI really cannot understand the bidding behavior of some folks.
You're not alone.
If I start a $10 item out at $5, it will be up to $10 in 3 bids. If I start that same item out at $1, after 8 bids, it's only up to $4.
I had three of one item, and I listed one a week for three weeks, each time with the same BIN price. One bidder won all three. This same bidder was the first bidder each time, and he bid the opening bid each time, less than an hour after the item was listed. All three times, the item closed a buck or two higher than the BIN price.
posted on August 29, 2001 07:39:51 AM new
they see the same item coming every week,or every other day or every hour of the day.
why bid more than the starting bid?if they lose this time,hey,another one will show up soon.
many of them spent hours every nite on ebay,they have seen more than we have,if they miss out on this auction,the same dealer or another dealer will roll out an identical one or similar one in the near future.
posted on August 29, 2001 07:39:52 AM new
I did that once - bookmarked an auction w/a bin, and decided to bid at the end. There seemed to be no interest in the item with only 2 days left (usually at least a newbie's bid by then). Silly thing went above the bin, and I lost out.
TWO MONTHS go by, I don't see another like it. Well, someone must have deadbeat the seller as s/he relisted it exactly the same w/the same bin. I "bought it now" fersure. I won't do that again to save a couple of bucks!
posted on August 29, 2001 07:52:58 AM new
It is kind of funny--but fun, too! I have a lot of one particular widget, which I list one at a time. It might take me a year to get through all of these at this rate, but that's okay--I don't like to compete with myself lol. I have been putting a good BIN price on the widget during the slow summer months. Out of 9 sales, three went for the BIN (two to one buyer), and six went as auctions--only one ended (a tiny bit) below the BIN price; all the rest went higher. One bidder has started several of the auctions. She never wins.
Now that the summer slump appears to be ending, I don't think I'll BIN these anymore, or if I do I'll set it higher.
posted on August 29, 2001 12:46:01 PM new
How about explaining this one:
I have an item with $5 shipping but shipping is free if bid reaches $35 which is also the BIN. The auctions typically end at around $33, usually something like 33.25. I would be within my rights to charge the $5 shipping and ask for $38, though I won't ask more than $35 since that's what I decided to let it go for. But why didn't the buyers realize that? And since the winner is usually the guy who bid early, why didnt he just bid the BIN and get it for $35 including shipping a day or two earlier? Auction behavior should be a study in advanced psych class.
posted on August 29, 2001 03:25:04 PM new
Why would someone place their bid at the BIN price?
One reason might be because the buyer is waiting for a paycheque. Can't afford to pay for an item until next week and it's a one week auction. We see a lot of complaints around here about buyers being slow to pay. We also see several sellers saying that a buyer shouldn't buy anything if they can't afford to pay for it right away...
If I see an item I want to buy at the BIN price but can't afford to pay for it until I get my next paycheque, I can bid the BIN price, take away the BIN option and hope that my bid stands until the auction ends. If the item goes above my first bid, I still have the option of bidding higher towards the end of the auction when I can afford to pay for it (after I get paid).
posted on August 29, 2001 04:11:47 PM new
A few days ago, one of my auctions ended in this exact manner. I sell higher priced jewelry items and have a fairly large customer base. Well, I listed a ring at the opening bid of $375 with a BIN of $425. Minutes after I listed the auction, one of my repeat customers bit on it. However, the auction closed at over $700 - won by that same bidder who placed the initial bid!! Don't get me wrong, right now I am a very happy eBayer, but it puzzles me why the bidder didn't use BIN if she were willing to spend so much more in the first place? That's eBay for 'ya!
**Not Annuta on Ebay**
posted on August 29, 2001 05:08:47 PM new
Easy... they're gambling they'll get it for a lower price than the BIN. They're willing to spend more, but hoping to spend less.
posted on August 29, 2001 05:16:52 PM new
In regards to buy it now. The comment on people not using this because they do not have a credit card is not 100% true. You can still mail a payment if you buy it now. Some bidders only think you need a credit card. For some people they don't want to buy it now. They live for the bid. They could order from a catelogue and buy it now all the time. Inside they want to bid for it and win it with skill. Usually they are just doing me a favor if they make the first bid. 98% of the time it goes higher. I purpose price it better for the buy it now. Good luck to all.
