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Why does ebay require seller to start BIN price at least 30% above starting bid?

mr1931Smr1931S Posts: 5,929 ✭✭✭✭✭
edited February 8, 2024 11:59AM in U.S. Coin Forum

Is it because one can list a coin for free now so the price paid by the seller for this privilege is to go along with their selling price scheme?

I would like to be able to list an ebay auction coin for a minimum amount acceptable to me and be able to do BIN to the buyer for whatever amount is acceptable to me.

ebay's policy re the 30% BIN price over auction starting price is seen by me as poor customer (seller) service.

What you think?

Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

Comments

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,743 ✭✭✭✭✭

    It's not surprising why their name ends in Y.

  • JBKJBK Posts: 14,475 ✭✭✭✭✭

    I have no idea why they chose 30% but if the number was much less than that then why not just list it as a fixed price listing?

    You could list at a fixed price and allow people to make offers.

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭
    edited February 8, 2024 12:47PM

    All you need to do is enable offers and you can accept any number you want.

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @JBK said:
    I have no idea why they chose 30% but if the number was much less than that then why not just list it as a fixed price listing?

    You could list at a fixed price and allow people to make offers.

    You can also list it as an auction and enable offers.

  • mr1931Smr1931S Posts: 5,929 ✭✭✭✭✭

    @JBK said:
    I have no idea why they chose 30% but if the number was much less than that then why not just list it as a fixed price listing?

    You could list at a fixed price and allow people to make offers.

    My starting price is the minimum amount I want. I refuse to start auctions at $.99 and then cross my fingers that a week after listing the coin I will get my price. Want my quality coin then pay me what I'm asking for it. ebay acts like it's their coin and as a seller I have to dance to their tune with regard to pricing it.

    Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @mr1931S said:
    Is it because one can list a coin for free now so the price paid by the seller for this privilege is to go along with their selling price scheme?

    I would like to be able to list an ebay auction coin for a minimum amount acceptable to me and be able to do BIN to the buyer for whatever amount is acceptable to me.

    ebay's policy re the 30% BIN price over auction starting price is seen by me as poor customer (seller) service.

    What you think?

    I think it's good customer (buyer) service. There are multiple other ways you can list it:

    1. Straight BIN
    2. BIN with offers enabled.
    3. Auction with offers enabled.
    4. Auction with reserve.

    What is the business necessity of $100 start with $110 BIN? All you do is make it difficult for many auction buyer to ever see the item. Many auction buyers look for auctions that are closing soon not newly listed.

    Based on what you said, you want Auction with offers enabled which exists as an option.

  • JBKJBK Posts: 14,475 ✭✭✭✭✭

    @mr1931S said:

    @JBK said:
    I have no idea why they chose 30% but if the number was much less than that then why not just list it as a fixed price listing?

    You could list at a fixed price and allow people to make offers.

    My starting price is the minimum amount I want. I refuse to start auctions at $.99 and then cross my fingers that a week after listing the coin I will get my price. Want my quality coin then pay me what I'm asking for it. ebay acts like it's their coin and as a seller I have to dance to their tune with regard to pricing it.

    Then just list it as a BIN at that price. Or list it higher and enable the "make an offer" option. Or list it higher and send offers to any watchers.

    Auctions with a BIN are a little convoluted. Once there is a bidder the option to BIN goes away.

    On a few occasions I have had offers accepted on auctions. A few times I offered more than the opening bid (presumably the most common scenario). Once, on an item that had been kicking around for a while and getting relisted a few times, my offer was the same as opening bid, and they accepted it to get the thing sold.

  • rte592rte592 Posts: 1,379 ✭✭✭✭✭

    Simply list as a BIN.
    OR high BIN price with offer.
    Less stressful 😕

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @mr1931S said:

    @JBK said:
    I have no idea why they chose 30% but if the number was much less than that then why not just list it as a fixed price listing?

    You could list at a fixed price and allow people to make offers.

    My starting price is the minimum amount I want. I refuse to start auctions at $.99 and then cross my fingers that a week after listing the coin I will get my price. Want my quality coin then pay me what I'm asking for it. ebay acts like it's their coin and as a seller I have to dance to their tune with regard to pricing it.

    This should go on the list of ridiculous complaints that we've had this week. There are NUMEROUS ways you can list it, all of which leave you in total control.

  • mr1931Smr1931S Posts: 5,929 ✭✭✭✭✭

    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

  • ctf_error_coinsctf_error_coins Posts: 15,381 ✭✭✭✭✭
    edited February 8, 2024 1:13PM

    Ebay works fantastic.

    Every week, I run 99 cent start priced auctions that always get plenty of bids.

    I also have an extensive BIN selection of unique certified coins that sell constantly.

    Ebay is the best..

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @mr1931S said:
    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    You can set an automatic rejection number at whatever you want. Perhaps you need some training?

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @ctf_error_coins said:
    Ebay works fantastic.

    Every week, I run 99 cent start priced auctions that always get plenty of bids.

    I also have an extensive BIN selection of unique certified coins that sell constantly.

    Ebay is the best..

    Class of One

  • tommy44tommy44 Posts: 2,181 ✭✭✭✭✭

    Because they can.

    it's crackers to slip a rozzer the dropsy in snide

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,743 ✭✭✭✭✭

    I understand the OP. If you have a coin where the PCGS price guide is $180, and you are willing to accept $160, you can price it in auction starting at $150. 30% for a BIN on that ask would be $195, Seems like gouging the buyer or a bit greedy seller. Why not be able to pick the range ? Why the arbitrary 30% higher than start ? Seller should be able to start it at $.99 ( I do), or $150 , without having to make it "out of reach" in the BIN (so to speak). And if a guy prefers not entertaining offers , that should be okay too.
    As it were, I am one of them auction sellers who thinks 5 minutes should be added to the auction if there is a bid in the last minute. That's another (thread) story, though.

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭
    edited February 8, 2024 1:41PM

    @TwoSides2aCoin said:
    I understand the OP. If you have a coin where the PCGS price guide is $180, and you are willing to accept $160, you can price it in auction starting at $150. 30% for a BIN on that ask would be $195, Seems like gouging the buyer or a bit greedy seller. Why not be able to pick the range ? Why the arbitrary 30% higher than start ? Seller should be able to start it at $.99 ( I do), or $150 , without having to make it "out of reach" in the BIN (so to speak). And if a guy prefers not entertaining offers , that should be okay too.
    As it were, I am one of them auction sellers who thinks 5 minutes should be added to the auction if there is a bid in the last minute. That's another (thread) story, though.

    You can list it as an auction and enable automatic offers at $160. The functionality already exists and is identical to what you think doesn't exist.

  • davewesendavewesen Posts: 5,653 ✭✭✭✭✭

    @mr1931S said:
    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    you can set auto accept and auto reject

    for example BIN $100 auto accept $90+ auto reject below $85

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @davewesen said:

    @mr1931S said:
    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    you can set auto accept and auto reject

    for example BIN $100 auto accept $90+ auto reject below $85

    You can also do the reverse. Auction start at $85 and auto accept at $100.

  • ctf_error_coinsctf_error_coins Posts: 15,381 ✭✭✭✭✭

    IMO, a BIN with a best offer is a really stupid idea.

  • bigjpstbigjpst Posts: 3,026 ✭✭✭✭✭

    I use BIN best offer on nearly every one of my listings. People will make offers regardless of whether or not you have Best Offer option, so why not make it easy. I would say at least 30% of my sales are people just hitting buy it now. The remaining sales are offers. Guess I'm stupid. B)

  • ctf_error_coinsctf_error_coins Posts: 15,381 ✭✭✭✭✭
    edited February 8, 2024 2:20PM

    @bigjpst said:
    I use BIN best offer on nearly every one of my listings. People will make offers regardless of whether or not you have Best Offer option, so why not make it easy. I would say at least 30% of my sales are people just hitting buy it now. The remaining sales are offers. Guess I'm stupid. B)

    Of course anyone can make a best offer on any BIN without a best offer option.

    That is my point.

    A (firm) BIN with no best offer option implies that the seller wants full price. And will get full price many times.

    A (flumsy) BIN with a best offer implies that the seller thinks his item is worth less than the BIN price. Bring on the tire kickers.

    I never offer a best offer option on my 800 BIN listings.

    I take peoples best offers or negotiate a best offer all the time.

    .............

    As a buyer, I really hate BIN items with a best offer option if the item is unique.

  • bigjpstbigjpst Posts: 3,026 ✭✭✭✭✭

    @ctf_error_coins said:

    @bigjpst said:
    I use BIN best offer on nearly every one of my listings. People will make offers regardless of whether or not you have Best Offer option, so why not make it easy. I would say at least 30% of my sales are people just hitting buy it now. The remaining sales are offers. Guess I'm stupid. B)

    Of course anyone can make a best offer on any BIN without a best offer option.

    That is my point.

    A (firm) BIN with no best offer option implies that the seller wants full price. And will get full price all the time.

    A (flumsly) BIN with a best offer implies that the seller thinks his item is worth less than the BIN price.

    I never offer a best offer option on my 800 BIN listings.

    I take peoples best offers or negotiate a best offer all the time.

    I definitely understand that mindset. But I view it as a timesaver. It's funny, when I used to set up at shows, I would try to price my coins at my net cost. Take it or leave it. I would tell people that, but just about every person wanted a better price. Didn't matter if it was a deal, wholesale, retail. So, I just raise my price and let them offer. I do the same with my ebay listings.

  • Cougar1978Cougar1978 Posts: 7,396 ✭✭✭✭✭
    edited February 8, 2024 4:31PM

    I agree with eBay’s policy. 30 pct over cost / bid is a standard industry practice but at the conservative level. It could be they consider the bid price as wholesale and MV 30 pct above that. One major dealer in my markup vs sell analysis was 30 pct over bid. The industry standard imo was 40 pct based on extrusion of data ads in CW, NN, etc.. The high …..bid plus 50 pct. - A major retailer in Cali.

    Coins & Currency both US and World
  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @bigjpst said:
    I use BIN best offer on nearly every one of my listings. People will make offers regardless of whether or not you have Best Offer option, so why not make it easy. I would say at least 30% of my sales are people just hitting buy it now. The remaining sales are offers. Guess I'm stupid. B)

    Agree. True story from yesterday. I had a BIN at 46.99, no best offer. Guy messages me and says, I'll pay "$40 + your shipping charge". I responded with a $42 offer and told him shipping was free. He said, "How about $40 and no tax?"

    LMFAO

  • GoldenEggGoldenEgg Posts: 1,913 ✭✭✭✭✭
    edited February 8, 2024 5:04PM

    I’ve always thought that a BIN slightly above an auction start bid would motivate buyers just to hit the BIN, producing a quicker sale. The buyer then doesn't have to wait for the end of the auction and risk the auction getting bid up higher than the BIN or losing the item all together.

    I am thinking of a BIN of 5% to 10% over auction start, something very minimal. The smaller the difference, I would think the more likely someone would BIN rather than bid.

  • davewesendavewesen Posts: 5,653 ✭✭✭✭✭

    @jmlanzaf said:

    @davewesen said:

    @mr1931S said:
    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    you can set auto accept and auto reject

    for example BIN $100 auto accept $90+ auto reject below $85

    You can also do the reverse. Auction start at $85 and auto accept at $100.

    does the BIN stay active once a $85 bid is placed? so as the auction proceeds, the first bidding more than $100 gets it?

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @davewesen said:

    @jmlanzaf said:

    @davewesen said:

    @mr1931S said:
    I've gotten sorry offers (less than 50% of my asking price) for coins I've offered on ebay. The sorry offer is on an already reasonably priced coin. Some might have the patience to wait and wait for a fair offer. I don't.

    ebay used to be a fun place to sell a few coins. Those days are gone.

    you can set auto accept and auto reject

    for example BIN $100 auto accept $90+ auto reject below $85

    You can also do the reverse. Auction start at $85 and auto accept at $100.

    does the BIN stay active once a $85 bid is placed? so as the auction proceeds, the first bidding more than $100 gets it?

    No. For any auction format, the first bid removes the BIN option. That's kind of why it doesn't make sense to use an auction format If you want a BIN, as the OP is trying to do.

  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @GoldenEgg said:
    I’ve always thought that a BIN slightly above an auction start bid would motivate buyers just to hit the BIN, producing a quicker sale. The buyer then doesn't have to wait for the end of the auction and risk the auction getting bid up higher than the BIN or losing the item all together.

    I am thinking of a BIN of 5% to 10% over auction start, something very minimal. The smaller the difference, I would think the more likely someone would BIN rather than bid.

    Except people often search then differently. Unless you are looking for a very specific item, for auctions people search for closing soon. For BIN, they search for new listings.

    If you want BIN, use BIN. If you want an auction, have an auction.

  • mr1931Smr1931S Posts: 5,929 ✭✭✭✭✭
    edited February 9, 2024 5:22PM

    @TwoSides2aCoin said:
    I understand the OP. If you have a coin where the PCGS price guide is $180, and you are willing to accept $160, you can price it in auction starting at $150. 30% for a BIN on that ask would be $195, Seems like gouging the buyer or a bit greedy seller. Why not be able to pick the range ? Why the arbitrary 30% higher than start ? Seller should be able to start it at $.99 ( I do), or $150 , without having to make it "out of reach" in the BIN (so to speak). Andif a guy prefers not entertaining offers , that should be okay too.
    As it were, I am one of them auction sellers who thinks 5 minutes should be added to the auction if there is a bid in the last minute. That's another (thread) story, though.

    Exactly. It's taken about 20-25 years for ebay to devolve from a pretty cool place for coin sellers to a ______________(fill in the blank) for coin sellers.

    Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

  • mr1931Smr1931S Posts: 5,929 ✭✭✭✭✭

    ebay's greed is the culprit in my view.

    Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

  • Cougar1978Cougar1978 Posts: 7,396 ✭✭✭✭✭
    edited February 9, 2024 7:54PM

    I don’t think it’s any big deal lol

    Coins & Currency both US and World
  • spacehaydukespacehayduke Posts: 5,406 ✭✭✭✭✭

    @ctf_error_coins said:
    Ebay works fantastic.

    Every week, I run 99 cent start priced auctions that always get plenty of bids.

    I also have an extensive BIN selection of unique certified coins that sell constantly.

    Ebay is the best..

    How is a 9% final value fee the best with them having complete control of how you sell? The best would be, no fees, your own website where you control how your items sell............


    Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
  • jmlanzafjmlanzaf Posts: 31,161 ✭✭✭✭✭

    @spacehayduke said:

    @ctf_error_coins said:
    Ebay works fantastic.

    Every week, I run 99 cent start priced auctions that always get plenty of bids.

    I also have an extensive BIN selection of unique certified coins that sell constantly.

    Ebay is the best..

    How is a 9% final value fee the best with them having complete control of how you sell? The best would be, no fees, your own website where you control how your items sell............

    No such thing.

    Your own site will cost money. Hosting and a whole lot of advertising.

    Payment processing will be 3.5%

    And if you think you can get 0.1% of the eyeballs of eBay, you're kidding yourself.

    Go ahead. Do it. You'll see. There's a reason that they are still the King after 30 years.

    And they do NOT have complete control. There are multiple options including exactly what the OP thinks they don't have. He can 100% run a $99 auction with a $99.01 BIN.

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