Two Questions Please

[clubesquire]

Good morning all,

From a slightly wet BrisVegas.

Does anyone know eBays thinking behind Auction with a BIN price that MUST be 30% higher than the listing starting price. We’re finding it pretty exorbitant, especially with the need to protect yourself with the starting price.

Auction Listings Vs BIN listings? Until now most of ours have been auction listings. Is anyone of the opinion that one is more favourable with buyers these days than the other.

Thanks all 🙂

Melina.

[kopenhagen5]

There have been sellers posting here that they feel BIN's work better as buyers don't need to wait days for an item to finish before it's posted. And auctions seem to have been dying on eBay. Although your items are not something wanted immediately.

I think having the 2 prices (auction with BIN) is possibly good if buyers don't know the going price of an item.

They may feel they get a bargain if winning it at the auction price. Start price of 60 with a BIN of 100.

I have used the method a few times and always start with the price I want, then the BIN is just to give the perception the item is worth considerably more, which it usually is.

I feel that is the only advantage, especially considering the nature of your items.

You should try a couple of test listings such as the Savinelli, start 168, BIN 250.

[springyzone]

I'd say the main advantage of auctions is for items that don't have an easy to calculate approximate cost.

Where something may be a collectable or vintage item, or one that is uncommon, doesn't come up for sale very often.

On those counts, I think your items would tick a lot of the boxes.

If you do list something for auction but with a Buy it now price, then I agree with kopenhagen-start it at the price you want and put the BIN up at what would be a 'happy money' level for you.

[collect247]

My view is that you either start with an auction or a BIN but not both.

Your auctions to me look like you start them at a price you're happy with getting.

So why not have them with BIN only so then you may sell them quicker and therefor get your money quicker?

Personally I stress at having to wait to sell something at auction when I could sell at BIN maybe immediately.

So it's up to you if you want a quick sale or you're happy to go slow haha.

[papermoon.lady]

I guess it is a personal preference, but I think that some sellers have both because they think that if a buyer really wants an item they will use BIN rather than bidding (because they have to wait and might lose the auction). Because people sometimes go crazy when they want to win, it is also possible (and I have seen it happen) that an auction ends at a higher price than BIN originally was.

So some buyers might buy quicker if they see the auction too, otherwise many just add items to their watching list.

[clubesquire]

Thanks all. The picture is clearer. Sometimes I just can’t see the pro’s and con’s. It comes with experience I guess. We’ll give a few BIN’s a try and see what falls out the bottom.

Thanks again,

Melina.

[brerrabbit585]

Auctions used to get more visibility in some categories but I'm not sure whether that still applies. A friend of mine used to do auctions with BIN on them and you'd be surprised at the number of people who used BIN at fairly exorbitant prices.

In some categories buyers will only view the auctions because it tends to cut out all the Chinese fakes, but that may not apply to your category.

[*tippy*toes*]

I list auctions with BIN. The reason being, if someone searches just for auction, my items will appear. If someone searches just for BIN, my items will maybe appear. I do have buyers hit BIN and then I feel bad because I have over inflated most of my auction BIN prices. Still, it's their choice to pay that. I've even had buyers hit BIN 1 minute before an auction is due to end with no bids. Go figure!

I do also have straight auctions and straight BIN's.

[clubesquire]

Hi Tippy, and yes, that is also a problem with me. I’d really suffer if one of our good, honest regular customers bought at an inflated BIN price - too much conscience I guess. I’d never make it in the cut and thrust of high business.

But I suppose you could always refund to a price you felt good about. And that’s an integral part of it all isn’t it? Feeling good about what you are doing? I just couldn’t knowingly rip anyone off. I really don’t like that sort of behaviour - no offence to anyone who chases the dollar - it’s just me.

I guess we all do what we do for different reason too. It’s nice to make a dollar and indeed we do, but you can do it fairly I think. The mighty dollar is not our primary reason for being here, but I know it helps .... lol.

And thanks Brer, we’re working through it. A few BIN’s will appear soon, and perhaps a few auctions with BIN’s too.

You are all so very sweet with your help.

Melina.