Make an Offer compared to Auction - Opinions please

[gbay2841]

Looking for some input and experience with the "make an offer" method of selling compared to Auction ( as an alternative to the buy it now  method)   Any opinions, when does it work or not work?    Etc.  

[lane-ends]

Psychologically buyers like to make an offer so they feel like they have a bargain. You can set it up so it auto accepts a certain amount, That way you dont have to think about it and get tempted to keep accepting low offers, and hence tempted to bump tyour BIN price up to compensate.

Personally I list 30 days BIN straight, then add in offer option as first stage discounting, then after 30 days reduce BIN, remove offer option. After next 30 add in offer again to that price.Just keep cyclling like that until it comes down to a price someone is happy with.

If someone makes a low offer I just counter with my set discount

The other benefit of this is there is no market value for my items so trying to set a price is hard. so I just list everything at same price and let it reduce and find its own value.It saves wasting too much time doing unreliable market research.

[lane-ends]

The problem with auctions is the sell price is not set by how much someone is willing to pay for it, but rather what the limit of the second most enthusiastic potential buyer is wiling to offer. So thats two keen buyers required within the short period of an auction run.

Comes down to quick turnover=high risk of low price. If you are willing to hold out for a while better chance of good price. Thats the principle of having a store.

[phorum_junkie*]

Why not try both? You get 40 free listings a month so sell half of the limit in auction format and half as BIN with Best Offer and see how well you do. I sell on two non store ids, 40 x 7day auctions on one and 40 x 10 day BIN with BO on the other.

[mscpmelb]

I list most of my items with a price and best offer.

This allows you can sell the item quicker, withoug waiting for Auction end.

If a price is  offered, I still have control whether to accept or not.

However, there are some items which I put a fixed price.

I have just learned this through experience.

Finally, it is at times frustrating as a buyer,  to have to wait for the end of auction,

as you may want the item,  but are not able to bid at that particular time.

[gbay2841]

Thanks for the opinions on selling methods.  Lots of good ideas out there.