posted on October 8, 2002 10:05:11 PM
I bought a bunch of older bookshelf games recently. When researching their relative value I search both current and completed auctions ( to see which categories seem to bring the best price among other things ). Many times I will see that a certain game only went in the $2 to $8 final price range except for a couple of games that went for $18 or $20. When I click on the $18 & $20 auctions I usually find that they were sold with a BIN option. There are so many ebay sellers that start quality auction goods at $1 without a reserve that many of these games actually go for that $1 or maybe no more than $5. The clever sellers that place a reasonable BIN can often catch an impatient bidder ( and often new bidders ) and make much more then they would have with a low starting price and no BIN. I started this practice on the games that had no real potential for high final prices and have done very well with BIN buyers.
Anyone else notice this trend?
posted on October 9, 2002 04:46:17 AM
"When I click on the $18 & $20 auctions I usually find that they were sold with a BIN option."
But I'd think you have to combine the BIN with a certain start price, to encourage bidders to use the BIN rather than make a bid.
For example, as I mentioned in another thread, if I saw a game starting at $1 with a $20 BIN, I might just place a $1 bid to kill the BIN then come back later to place a "real" bid, hoping to get it for less than the original BIN amount.
So maybe should use a $9.95 start with a $20 BIN ??
posted on October 9, 2002 04:59:27 AM
I do that all the time on very common items. Capotasto is right - if you put the opening bid too low they will just bid on it, but I sell a lot of items with BIN. I put the BIN about $1.00 lower than the highest priced completed item went for. That also depends on how many of the item are active and what they're up to as far as price.
posted on October 9, 2002 06:57:03 PM
Yep ~ way of the ebay future !!
I had 3 items for auction that I had relisted at low opening bids and still no sale .. relisted a 3rd time yesterday and all 3 sold within hours with BIN !!
I know when I shop, it is usually an impulse buy .. I see it and have to have it right now !!
posted on October 9, 2002 08:16:15 PM
I saw that the successful BIN sellers would approximately double the highest bid received on the same item in the closed item search and make their BIN that amount and their start bid that same amount. Seems odd to double the highest selling item but it works very well. I use the BIN and starting bid as the same amount gambit too. No one can kill the BIN. Always use a 10 days duration to help snare the impulse and impatient bidders.
posted on October 9, 2002 11:35:53 PM
I often use a BIN on a certain item that I sell because it has been used, in good condition and I want to sell it. I start my auction as an auction with a BIN 25 cents higher than the opening bid. This gives the buyer that really wants the item to bid the BIN price, they bid, pay by PayPal and have their item 3 days after auction closes. I like it that way. My merchandise is out of my house faster. I very seldom sell this item for anything less or higher than my BIN price. I know on some of them I could get a higher price but I am satisfied with the BIN I put on it.
posted on October 10, 2002 12:25:40 AM
I try to gear my auctions with the huge amount of new ebay users in mind. There are TONS of complicated ebay rules and even on these board you'll frequently learn something new about an ebay rule. I've never used a Reserve Auction and stay away from Dutch Auctions and try to make it as simple as possible for a newbie to purchase the item with a simple BIN price that is the same as the start price.
