[UPDATE] eBay Auctions ~ $1 Opening Bid vs. $65 Opening Bid

JMOORE

This post is a spin off of a thread started by mnmcoin.

Here is an example of what was discussed about starting auctions at $1 instead of a high opening bid.

I listed this '57-D Franklin last week with a starting bid of $65 and a B.I.N. of $75 for a seven day auction. I did not receive a single bid on the coin.

I re-listed it today with an opening bid of $1 and no B.I.N. price for a three day auction.

The coin has received three bids so far and is at $11.61

I guess we will see what happens.

I have been selling on eBay for quite some time now, but just began selling coins about a month ago.



Jim

Placid

It shows $28.50

JMOORE

See, someone just bid on it while I was posting this.


Jim

Russ

Placid,

You sneaky devil, you.

Russ, NCNE

NBSQLGeek

When I see a $1.00 bid I have to bid. Someone please take the bid button away from .

gmarguli

If you want to sell it, then list it starting at 1¢ with no reserve. Forget the BIN option. You'll usually get enough bids. That's what I'm doing with 100+ auctions this Sunday (hopefully).

airplanenut

$36

flaminio

I like listing stuff at face value. Add style points, in my opinion.

Three-day auctions should not be used except for extremely common and generic items. It sometimes takes a full day for auctions to get indexed into eBay's searches, so a three-day auction is really a two-day auction. The likelihood of a potential bidder missing it in just those two days is high. Again, my opinion, but I don't think coins should be run for anything less than seven days.

danreller

Alright, trying again... I've taken the bait and relisted at $1.00 . I'm curious. I know I don't have a $20 Saint or something for sale, but, ?? for $1.00 .
Dan

hughesm1

At $50 now...

Twowood

Up to $65....which I'm sure you know! Twowood

Barry

I start most items at $1, except for coins that don't have a very big following (eg., seated dimes). If I feel nervous about it, I sometimes start at $1 and use a reserve, which brings up another question:
Is it better to start a coin at $1 with a reserve, or at your minimum acceptable sell price without a reserve?

flaminio

<< <i>Is it better to start a coin at $1 with a reserve, or at your minimum acceptable sell price without a reserve? >>



Both of those choices suck. You may eventually sell it, but it will probably take several relistings, and you most likely will end up with a lower price than if you had just started it low with no reserve and let it run.

tjkillian

I like listing stuff at face value. Add style points, in my opinion.

I tried that but eBay won't let you start a auction at less than $0.01 so when I sold some half cents, I had to start at TWICE face.

Tom

JeffinMich

Hey, I was bidding on that Frankie! So much for getting in a good snipe!

Russ

Jim,

You do realize that since you posted this, the test is not longer valid?

Russ, NCNE

JMOORE

Russ,

I was just thinking that

But I have to admit that I'm happy


Jim

JMOORE

Auction closed today @ $63.00

BUT as Russ pointed out the test is really not valid because I posted it when I started the auction.


Jim