Thumper
11-15-2014, 07:28 AM
I've seen this time and time again and it never ceases to amaze me. On eBay, I many times don't want to take the time to run an auction and will simply come up with a price I want, then post the item as a "Buy It Now" and let 'er rip. If I say I'll take $40 for an item, somebody simply bids $40, the listing closes and it's a done deal. Generally, 90% of my "auctions" are set up as a BIN, but occasionally, if an item doesn't sell, I'll lower the price a bit and run it through as an auction. Nine times out of ten, it'll bring more at auction than I wanted for a BIN!
About 6 months ago, I picked up two identical items at an estate sale and listed one of them. I've been all over the map with pricing trying to see what the market is and have listed it a bazillion times as a BIN. It would always draw interest and would sit on people's "watch lists", but nobody ever pulled the trigger, so I'd end up re-listing. I've had it listed at $29.95 for months, but I switched to an auction with a starting price of $24.95. All of a sudden, the bidding started and went to $36.00! I prepared the item for shipment, then emailed the next highest bidder ($35.00) and told him I had a second, identical item that I would let him have for his bid of $35. Within minutes it was bought and paid for! So, for all practical purposed, what was listed for MONTHS at $59.90 as a BIN and never got a nibble, sold immediately for $71.00 at auction!
I guess it's simply a lesson in human psychology. Is it a "gambling" type affliction?
My buddy just mentioned the same thing yesterday. He had a bonzai tree listed as a BIN, but it didn't sell. He then listed it as an auction starting at $200 with a BIN $275. (If someone bids the $200, it starts an auction and the BIN option no longer exists.) The tree sold for $315.00!
I don't get it. :huh
Well, my bud will be here at 7:00 and we're gonna hit some sales. Catch youse dufes later.
About 6 months ago, I picked up two identical items at an estate sale and listed one of them. I've been all over the map with pricing trying to see what the market is and have listed it a bazillion times as a BIN. It would always draw interest and would sit on people's "watch lists", but nobody ever pulled the trigger, so I'd end up re-listing. I've had it listed at $29.95 for months, but I switched to an auction with a starting price of $24.95. All of a sudden, the bidding started and went to $36.00! I prepared the item for shipment, then emailed the next highest bidder ($35.00) and told him I had a second, identical item that I would let him have for his bid of $35. Within minutes it was bought and paid for! So, for all practical purposed, what was listed for MONTHS at $59.90 as a BIN and never got a nibble, sold immediately for $71.00 at auction!
I guess it's simply a lesson in human psychology. Is it a "gambling" type affliction?
My buddy just mentioned the same thing yesterday. He had a bonzai tree listed as a BIN, but it didn't sell. He then listed it as an auction starting at $200 with a BIN $275. (If someone bids the $200, it starts an auction and the BIN option no longer exists.) The tree sold for $315.00!
I don't get it. :huh
Well, my bud will be here at 7:00 and we're gonna hit some sales. Catch youse dufes later.