item doesnt reach your buy now price

[jo-20409]

selling an item, set buy now price, and start bid price, once bidding time has lapsed the bidding failed to reach buy now price what happens ive received bids 

[repentatleisure1952]

"what happens" is you send the item to the winning bidder.

The BIN price was an oppurtunity for a buyer to purchase at that price prior to the first bid being placed.

Often the time to ask questions is before listing your  first item.

Congratulations on what looks  like being a succesful auction.

[kopenhagen5]

Once a bid is placed the BIN disappears and it becomes purely an auction.

Always start an auction at a price you are happy to sell at in case you only get one bid.

And it helps to read the rules beforehand.

[springyzone]

Oh dear.

The buy it now price is not a reserve.

A lot of buyers, when they see that, think of that as the top price. They can click on it if they really want that thing and want to buy it immediately.

But when you list something-let's say it was an item starting at $10 with a buy it now of $30-what you are doing is agreeing to start the auction at $10 and accept whatever you can get over that. You'd like to get $30 but if the bidding only reaches eg $15, or if indeed there is only one bid at $10, then you are prepared to sell it at that. 

When someone wants to bid on that item, they will have to decide-buy it now or take a risk and make a bid at something under the buy it now price. Most auctions I have seen like that, they make a bid rather than buy it now. Once that first bid is in, the option to buy it now disappears. Other buyers won't be able to see it. This may work in your favour. In the example above, if you hada  few bidders, the price may actually go above $30 if you were lucky.

But the price you as a seller need to concentrate on setting is that starting price as it may end up being the finishing price.

[enigmabear]

You can either honour the sale as you should or

cancel the sale and risk a very annoyed buyer (more than likely a strike/neg ,which not not be great for your very first feedback)

But whatever you choose to do, before selling anything else, read the rules on the basic at least

As mentioned, buy it now is not your reserve price 

And you do not 'have' to start an auction at 99 cents because eBay suggests so

Please also be sure to read about all fees involved in selling, as there are fees for selling,postage and PayPal that will come out of the sale price (and also a listing fee if you have no free listings left for the month)

[chameleon54]

Am I missing something ? 

I checked your sold items and it looks like you havnt actually sold anything .....YET.......

You have one auction running for a computer that still has over 3 days left to run. My understanding is you can cancel the bids and cancel the auction up until around 24 hours before the auction closes. ( I,ve never actually done it and others may have more accurate info on the time limit to end an auction and processes involved ) You will probably have to select a reason and from memory there was one that said something like " there is a mistake in the listing "..... The mistake being you where unaware the BIN price was not a reserve.

As you are new to ebay, my suggestion is you contact the bidders to explain the situation, cancel the auction and then relist with a starting price that is the least you would accept for the item. This starting price then becomes your reserve price. Hopefully some-one will advise on the process for cancelling bids and ending the auction.

[enigmabear]

Another very good point

Personally (and this may just be me) but as a brand new seller, I would not start off by selling an expensive phone as my first listing

There are too many scammer buyers, and especially if a scammer seeings you have not sold anything else before

I would not offer click and collect either myself, that has had numerous problems as posted here on the forum from several people

[performance_parts_clearance_centre]

If you have your heart set on a particular price, don't offer the item as an "auction", offer it as a "fixed-price" listing - that way, you'll either get the price you want, or not.

[go-tazz]

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@jo-20409 wrote:

selling an item, set buy now price, and start bid price, once bidding time has lapsed the bidding failed to reach buy now price what happens ive received bids 

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As stated a BIN is only in place until the first bid is placed and it then disappears and it becomes an auction

only (it can never be put/used as a reserve as eBay don't have those except on certain items).

If there is more than 12 hours left you can cancel the bids and end the listing (as there is more than 2 days

left it might be your best option if you are worried at all).

Once there is less than 12 hours left you can only end the listing by selling to the highest bidder.

Always start selling with an item that you can afford to "lose" and ask questions before listing an expensive

item that would be a target for scammers (items such as a smartphone should never be sold on eBay (you

need to be an experienced seller before listing anything that's valued over $400 in my opinion).

You also have cash on delivery which is an expensive outdated option (it is not cash on pick up).