posted on February 4, 2001 10:19:41 AM new
I'm sure this has been discussed in great detail before but I just wanted a few opinions from both seller's and buyer's as to using this option.
At first I felt somehow it was too "commercial" and somewhat cheapend your item.
Also, not knowing exactly what price to use for B.I.N. vs. starting price. For instance,
having only a few $$ gap between the two or listing the B.I.N. too high, too low, etc.
How do you, both buyer's and seller's feel about this option?
I have started to use it because it has worked fairly well and to me it's awesome to sell the item sometimes immediately at a good price versus waiting for it to close, especially when you have a few more of the same to toss out there.
posted on February 4, 2001 11:43:42 AM new
As a seller I used "first bid wins" on Yahoo and really liked that option. I made many sales that way. My game plan would be to list the item, let it run a certain number of days. If it was still not sold I would put a "first bid wins" on it. I am using the same strategy on BidVille now.
As a buyer I have used "take it" or "buy it now" many times because I would rather get the deal done and over than wait to see if someone would outbid me at the last moment. A few times I have paid a few $$$$ more for the option because I needed the item NOW!
posted on February 4, 2001 12:10:29 PM new
Yea as a seller I have also used buy price on yahoo I am trying it limitedly on bidville and Ebay.
The way it works best is in a one bid wins all formate set the start price and the buy price the same.
The idea is many sellers hate the 7 to 10 day wait for the auction to end they can buy at your price and be done with the sale and move on.
It seemed to work on yahoo well many times when yahoo was well I would list buy price item and had items end within 2 mins to 30 mins of listing some time it was a day or two but the inventory turn over is far better.
The frist bid wins all Is just now Ithink gaining real interest with buyer on ebay I have ran a few with BIN there but Buyers didnt seem to like the frist bid wins on ebay at that time item with this I set up endmutiple times with out bidder relist the item with out bin on ebay and it gets bids.
In order to run frist bid win deals you have to look at your Item be honest with your self only maybe one in 2000 or so item will catch fire with a bidding war.
ask your self what you paid for it is it really that rare or hot an item is it something you would choose to use a reserve on if so your your start and buy price would be made more then likely 10% to 15% what you feel your reserve would be.
Search the auction sit see what bidding and starting prices for like Item are now how did past sales end what was the most common price this sold for before.
another key is to know your Item better if you have trouble knowing what a good buy price for your item might be you may need to spend more time in this category on some auction site looking at current and past auction get some books on the suject of the item you sell.
http://www.Dman-N-Company.com
[ edited by dman3 on Feb 4, 2001 12:12 PM ]
