posted on September 5, 2001 01:39:34 PM
No tips really. Just set a price that you're willing to sell the thing for outright and you're done.
Note that unless you use a reserve price, BIN will disappear as soon as the first bid is placed. So you're gamble is that the first person interested in your item is willing to just buy it rather than go through an auction.
posted on September 5, 2001 01:52:18 PM
I have been putting my BIN price 25 to 30% more than the min. bid and I am getting a lot of sales, but I won't use it when I am uncertain about the value so I don't lose out on a run up in the bid.
posted on September 5, 2001 02:54:38 PM
It's perfectly fine to use a reserve on a BIN auction - in fact, I think reserve auctions work better in BIN auctions.
The Reserve always has to be less than the BIN, so a reasonable BIN let bidders know that you have a reasonable Reserve. Reserves are also a useful tool with BIN auctions because they tend to stop BIN-killers - those people who place a bid just to keep other people from BINning the item. Your BIN will remain in place until somebody meets the Reserve price.
And as others have stated - don't use a BIN except for items that have an established ebay value. Do a search on completed auctions to find out what that might be. If I have something that doesn't show up in any completed auction searches, I don't put a BIN on it since there's a chance that it might be one of those wonderful "wildcard" goodies that unexpectedly take off in price. Good luck!
posted on September 5, 2001 08:13:05 PM
I listed 16 auctions this past weekend. Of those 16, 6 ended with BIN! Two within the first hour or so of listing.
I had four people "e-pay" before I could even send out EOA's!!
posted on September 6, 2001 02:12:48 AM
I do BIN on my lower end items that I want to sell fast. I have put items on 1 day usually sell them the same day. Buyers mostly use PayPal and item is mailed the next day or if paid early in the am, the same day, and at buyers house 2 days later. i.e. If I start the bid at 4.25 then I do the BIN at 4.75. Most of the items go by the BIN price. If a bidder thinks that the price of the item is only worth 4.25 then they will bid that and the BIN disappears. They are just taking a chance that the item won't go over that BIN price. (The BIN price is what I think the item is worth.)
