richierich
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posted on January 14, 2002 03:04:44 PM
I sell new clothing, mainly plus size and big and tall men's, but currently have other smaller sizes also.
I noticed that when I put Buy It Now prices on items they either get no bids until the end or never. Rarely do they get bids early on like my other items without BIN.
Do you notice this with the items you sell? Or is it just me? Maybe they figure if someone wants to pay the BIN price they will let them. Of course the BIN price is always below retail, usually at least 50% off retail if not more.
Like I said, items without BIN usually get bids early and normally get a few increases. Sometimes they even go higher then the BIN was.
So what is your experience?
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docpjw
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posted on January 14, 2002 03:25:30 PM
About Half My auctions end ABOVE My BIN price, and about Half below (About 10 Percent below the BIN Price on average). I Do Not Think The Bin plays into the Bidding with Mine. My starting Bids are Usually around 10 Percent of the Retail value, sometimes less, always NO reserve. I'm always amazed at How FEW people use the BIN ( It's ALWAYS Way below Retail ). I'm beginning to think it's almost worthless. I sell MOSTLY in Women's Fragrances. 
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dman3
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posted on January 14, 2002 03:30:16 PM
My sales have been off lately but I always use a BIN price on all my listing and I find that 50% close with a bin from 1 hour to 12 hours after I launch them.
When I do get an item with a bid it will end with just the one bid so I have made started uping my starting bids before last year items would get many bids but for the last 17 months 99% only get one bid so why not turn it over with a fair BIN price and move on.
http://www.Dman-N-Company.com
Email [email protected]
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RainyBear
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posted on January 14, 2002 03:37:25 PM
I sometimes avoid bidding on BIN auctions because I feel bad taking away the BIN... I'll bet others do too.
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kahml
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posted on January 14, 2002 04:18:25 PM
Now THAT'S an interesting bit of psychology right there...
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Libra63
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posted on January 14, 2002 06:00:45 PM
I sell an item that I put a BIN on it all the time. I start the auction 25 cents lower than the BIN price. I sell most items and for the BIN price. My BIN price is what I want for my item and I know that it is not worth much more. They sell at all different times. A couple sold just before the End of Auction, but again it is only about 25 cents more.
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springmoon
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posted on January 14, 2002 06:50:52 PM
The reason I rarely use BIN is because it takes away from the auction experience. Secondly, it gives away the price I am willing to sell the item for. It is like putting a visible reserve on it.
A large percentage of buyers play this auction thing as a sport. They pretend they're in Vegas -- why spoil the fun? I will rather start the auction at the price I want to sell it for, rather than BIN it.
[ edited by springmoon on Jan 14, 2002 06:51 PM ]
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mballai
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posted on January 14, 2002 06:59:41 PM
I find that a lot of people just do not want to pay the BIN price, if they could get it for a penny less they would! Or they'll gamble at winning it and end up paying more than the BIN price. Strange. I had one item go for nearly three times my BIN--higher than retail too.
I try and price things to move. Why do so many people want to wait out an auction? Beats me.
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springmoon
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posted on January 14, 2002 07:09:57 PM
It's all psychology. If I were looking to buy, I will not BIN (unless it's urgent), because I will see a starting price much less than the BIN. I will then say to myself "just may be, all other buyers will disappear from the face of the earth and I will be the only bidder".
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richierich
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posted on January 14, 2002 07:23:35 PM
What I am really wondering here is like RainyBear said "I sometimes avoid bidding on BIN auctions because I feel bad taking away the BIN... I'll bet others do too."
Does a BIN price on an item stop you from placing an opening bid?
Do you come back to the item near closing to see if it is still available?
Or do you pass it up the first time because it has a BIN and never return?
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quickdraw29
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posted on January 14, 2002 07:24:31 PM
I use BIN to get more than I normally would through an auction because BIN is too tempting for a lot of buyers. Once a bid comes in though, not using BIN, the bidding never gets it up to my BIN price.
Most of my BINS come early within the first two days, seldom towards the end.
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technerd
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posted on January 14, 2002 08:49:41 PM
I use BIN to sell something at a fixed price. I put the opening bid and the BIN price the same. I usually do this when I want more than the going price for that item.
The psychology is, "Hmmm, I don't want to pay that much. But, if someone bids, I won't be able to. And, it may be awhile until one of those shows up again."
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bidsbids
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posted on January 15, 2002 12:44:18 AM
When buying, if the BIN price isn't too much more than the opening price and I really want the item I will pay the BIN price to guarentee that I get the item.
When selling, if I'm sure of how unique my item that I am selling is then I will not use the BIN price and hope for a bidding war. If I know that a certain item almost always goes in a certain price range then I will use a BIN price that is a little bit higher than that range in hopes of snaring an impatient buyer. I believe many sellers are missing the boat by not using the BIN price on fairly common items. It works a lot of the time. Remember, some of your strongest competitors are the fixed price venues like Half.com .
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richierich
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posted on January 15, 2002 12:55:06 AM
I think BIN are hurting my bids. My starting bid is the bare minium I will except. My BIN is what would really make me happy (at least 50% off retail).
But if bidders are passing up because is has a BIN and they don't want to pay that and they don't come back, the BIN is hurting me.
I think I am done with BIN.
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rarriffle
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posted on January 15, 2002 03:03:22 AM
if i see an item i really want and the BIN is low, then i use the BIN. if i want to maybe get it cheaper than that, i watch it, i don't bid until the end.
i have lost many a good item with this dumb trick too
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bidsbids
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posted on January 15, 2002 05:24:08 PM
I have searched closed auctions for certain items and have seen some tremendous deals received by buyers because they used a very low BIN price and I have seen it were a seller got a lot more than the going price because he set a very high BIN price that a buyer used.
It is a little like placing mines on a golf course. You got to be careful out there.
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