Good Article About Online Auction Counts Being In Decline
storm888
Posts: 11,701 ✭✭✭
storm888
Posts: 11,701 ✭✭✭
storm888
Posts: 11,701 ✭✭✭
Comments
Yogi Berra
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That was well written and insightfull.
I too agree the sniping concept has and will turn bidders off from actual auctions. What made EBAY so addicting to many was the back and forth battle until the end. With so many bidders waiting until the final seconds it has taken the need away to monitor it constantly to see how it is playing out.
One thing the article does not mention in any great detail is that part of the reason auctions have declined is that many items can go for less then they would in a fixed price listing. On very rare well advertised items you can sometimes get much more but for the every day item in collectables you can get killed.
The other major thing it did not mention is schill bidding. There have been many references to suspected schill bidding on various auctions posted on these boards and while we can not prove all were actually schill bidding certainly some have been and this turns off bidders as they feel they are being taken.
I think if EBAY would better inforce the bid retraction issue that plagues so many auctions that you would see more auctions. It is very frustrating when you are in a legit auction and someone takes the lead and then does a bid retraction for entered wrong amount. It blows my mind that someone can enter $76.42 and think somehow that others will believe they entered the wrong amount. If you meant to enter $50 and hit $500 and instantly retract your bid in error and then put it back in at the $50 I am fine with that but in many cases it is other bidders simply probing to see where the high price is and then they retract their bid. This is wrong and should be a banable offense to get it under control.
The final thing it did not mention is you can now use a best offer feature and this allows sellers to list an item higher then where they think it should sell and if it does great but in the mean time buyers can haggle with them on the selling price much like a car purchase or something similar. The best offer concept still gives the buyer the feeling that they got it for less and the seller has much more control on where they will let the item gor for. If you have had an item listed for severall weeks with no activity to speak of and an offer comes over that you normally would not have taken you can either take it or leave it. If there have been no offers this in many cases means the item would not fly in an auction and the seller did not give away their merchandise.
<< <i> If you meant to enter $50 and hit $500 and instantly retract your bid in error and then put it back in at the $50 I am fine with that but in many cases it is other bidders simply probing to see where the high price is and then they retract their bid. This is wrong and should be a banable offense to get it under control. >>
There is no way to control this as long as sellers allow 0 or low-feedback bidders to participate in their auctions. The only thing Ebay could do is to provide a 1 or 2 week ban for 1st offense of bid retraction and account termination with a 2nd offense, but Ebay can't prevent a bidder from setting up a new account for the sole purpose of probing.
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Save on ebay with Big Crumbs
More of the sales are BINs - and very high - the chance at competing for a bargain may be gone some day?
Thanx for the article.
It really was a RUSH!
Since I got killed by snipers - I joined - so I set it and forget it. The rush is gone.
I still see, however, many items realize higher prices in an auction format than they will in a BIN format, if the item is something people want.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>I think the increase of bin's and decrease of auctions on ebay has definately been seller driven. Sellers were taking some big hits with auctions as the recession emerged. BIN's has reduced the risk of a low hammer price significantly. >>
The change definitely has been seller driven. The question is why does Ebay incentivize sellers to use formats that are non-auction.
I agree that the "thrill" of the auction is less now that it used to be, although that hasn't made me stop using Ebay. However, I still very much prefer bidding on real auctions because that is where I could potentially find value. There is no value in BINS and if that is what Ebay is turning into, there will be no reason for me to use Ebay. I am already starting to spend more time viewing other online card auctions vs. time I used to spend on Ebay.
Always buying Bobby Cox inserts. PM me.
I set a price of "x", that's what I'm willing to pay for an item. To sit there like a robot and punch in bid after bid after bid is ridiculous. How many times have you seen a bidder increase his bid by a few dollars, or some low amount seemingly hour after hour, when in fact the auction doesn't end for 3-4 days? That's just dumb. At first I wasn't a big fan of sniping, but once you get past the term, I think it's a highly valuable tool. You can pre-set bid amounts and forget about it, especially if you can't be near a computer to monitor the auction as the clock winds down.
Shill bidding? Undoubtedly still happens, not sure how to deal with that from an eBay perspective. Again, set a price in your mind and stick to it.
Sellers are (IMO) hurting themselves in some instances with BINs as opposed to an auction format. BIN prices are obscene in the area I collect. Instead of making a modest profit, many sellers want to hit a Grand Slam by waaaaaaay overpricing their item...thus, no takers. I see this ALL THE TIME. I know one item has been up for about 3 years, same price and it still hasn't sold. One guy has a card up I'd like to have, but for some weird reason he has it as a BIN rocking between $275 and $233...how he gets the $233 is a mystery to me, but changes back and forth about once a week and has done so with this particular card for well over a year now. And, it isn't a very popular, or "gotta have" card, it's only a PSA 4 !!
The problem I see is that sellers start their bids at 99 cents (I assume to save fees) and then only a few bidders make bids and they get rocked on the final price. What to do? Either start with a higher opening bid, or put in a modest Reserve to protect their item. I know that when bidders see "Reserve no met", they just want to stay away...the prudent seller would respond to any inquiries with his Reserve price I would think, or again, start the thing off at a respectable point that allows it to get some action.
I dont' think online auctions are dead, it's just in an evolutionary process and perhaps a growing pains kinda thing.
SMR is WOEFULLY stale with factual pricing. Ya, ya, I know, it's just a guide, blah, blah. I am amazed at how many times I've heard..."I'll give you SMR for it", or SMR this, that or the other. Let's face it, there are a zillion cards/sets to collect, how on earth could SMR be current with all that? No way, any day!! Perhaps the clearest picture of the value of an item is VCP, at least it gives you the latest sale of an item that you may be interested in, and a historical reference to see trends. SMR cannot, does not, or never will be able to do this in its current format. I could cite numerous examples of this, but I think the point is made.
Conclusion...We are all where we are, like it or not, the current buying and selling on eBay is our primary source of a vast arena of material. You either play in their sandbox, or try to find stuff elsewhere. Things are evolving and perhaps not to our liking, but it is what it is. Sellers need to adjust a bit, who knows how and when that's gonna happen.
I need just 15 more PSA 7 cards for a complete 1955 Topps set...are there cards up that I need as BINs? Yup, but I ain't gonna pay the obscene prices the sellers want. I can bide my time and hopeufully place snipes that help me get those remaining cards in time.
Set your price and hope for the best.
<< <i>
The problem I see is that sellers start their bids at 99 cents (I assume to save fees) and then only a few bidders make bids and they get rocked on the final price. What to do? >>
When you say "get rocked", you say that like its the fault of the auction format that a certain price was realized. BS. The market has spoken and thats the real value that the market places on that item. There is nothing here to "fix". If sellers are disappointed in the actual prices realized in real auctions, then that is their problem. If sellers want to ask for ridiculous prices using BINS, then let them hold onto their items for 4 years. They are only hurting themselves.
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that is just not true.. a 1 week window does not make the market.
For that statement to be true then everyone looking for that particular item would have
been on ebay at that time and seen that auction (which is unadvertised)
You may have to wait weeks or months to realize your price
but if you don't have to sell something then it makes sense to do just that.
if you need to liquidate.. then by all means.. run it out in an auction and likely get pennies on the dollar.
It was the market clearing price at that moment. Alot of things can affect the out come such as a poor title, odd ending time, certain buyers not looking that day or week, etc.
In one of the major auction houses where they advertise and buyers are looking specifically at their inventory then that is a much more accurate clearing price. Not an EBAY auction.
I have had some great success with auctions starting at $0.99 and have only had a few do poorly and they were not either highly desirable items or very rare.
If you have something a lot of people want then many times an auction that starts at $0.99 is the best way to go.
On items that are less rare using a higher opening bid works well too and I do that a lot if I don't think the item will attract a ton of interest but should sell for that price.
Either way EBAY is a great place to locate and move items and while there are certainly some issues, it is what we have and we must make the most of it.
<< <i>The market has spoken and thats the real value that the market places on that item
that is just not true.. a 1 week window does not make the market.
For that statement to be true then everyone looking for that particular item would have
been on ebay at that time and seen that auction (which is unadvertised)
You may have to wait weeks or months to realize your price
but if you don't have to sell something then it makes sense to do just that.
if you need to liquidate.. then by all means.. run it out in an auction and likely get pennies on the dollar. >>
Oaksey- Go back and read your post. You said "You may have to wait weeks or months to realize YOUR price." You have the mentality of most sellers on ebay in that you think you know the REAL value of something, despite what the market is telling you. If you don't think 1-week is long enough, then set up a 10 day or a 30-day. We can debate what the right time period is and I'm not saying that 7 days is the right period. But at the end of the day- the value of anything is nothing more than what the market is willing to pay you. Running a 2 week or 30 day auction EBAY is absolutely NOT a fire sale or a liquidation price. A fire sale is if you ran up to your local card shop right now and were forced to sell for whatever he offered you. Ebay is best proxy for "the" market that a seller has, outside of the nationals or a large auction house.
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When you say "get rocked", you say that like its the fault of the auction format that a certain price was realized. BS. The market has spoken and thats the real value that the market places on that item
I think you missed the point. As mentioned after your post, a one week auction does not dictate, nor determine market value. It just so happens that during the listing period, an item sold for "x" price. If the Seller had better protected himself/herself with a modest opening bid they could live with, a low winning bid would be a non-issue. If you know you are going to auction an item that has a historical value of $50.00, and you put it up with a 99 cent opening bid, and it sells for $21.50, you have nobody to blame but yourself. The more prudent Seller IMO would have started the bidding at perhaps $35 or $40 and hope the ending bidder was much higher. Of course if you BIN'd for $50, given the fact of the current value of the item, it should sell accordingly. Why give stuff away if you use the auction format?
Now if the Seller did a BIN for $75 and had no takers, he/she has obviously overpriced his item in the current market. This is why VCP is a much more valuable tool than SMR. At least with VCP you can see trends and recent sales (if there are any) of your item, and price accordingly.
Had to laugh at andycapper's post. I have done the same thing. I tell myself to throw the stuff out rather than wasting time listing, packing etc. Just haven't had the guts to actually throw stuff out.
<< <i>Mcadams...
When you say "get rocked", you say that like its the fault of the auction format that a certain price was realized. BS. The market has spoken and thats the real value that the market places on that item
I think you missed the point. As mentioned after your post, a one week auction does not dictate, nor determine market value. It just so happens that during the listing period, an item sold for "x" price. If the Seller had better protected himself/herself with a modest opening bid they could live with, a low winning bid would be a non-issue. If you know you are going to auction an item that has a historical value of $50.00, and you put it up with a 99 cent opening bid, and it sells for $21.50, you have nobody to blame but yourself. The more prudent Seller IMO would have started the bidding at perhaps $35 or $40 and hope the ending bidder was much higher. Of course if you BIN'd for $50, given the fact of the current value of the item, it should sell accordingly. Why give stuff away if you use the auction format?
Now if the Seller did a BIN for $75 and had no takers, he/she has obviously overpriced his item in the current market. This is why VCP is a much more valuable tool than SMR. At least with VCP you can see trends and recent sales (if there are any) of your item, and price accordingly. >>
MCMLV- Thanks for the note. I understand your point of view and I've heard it before. In my opinion, your last post revealed several logical flaws that you have regarding market pricing. First, you quoted historical prices. Red flag. What something was worth yesterday doesn't dictate what an item is worth today. If you sell something today for 21.50, that is what that item is worth today. Viewing that price in the context of prices from years ago isn't really constructive, unless you're a historian. And you certainly shouldn't feel like you got ripped off because you sold something that you thought was worth $50. It wasn't. Next, you suggested that a seller should "protect themself" by starting their auctions with a "modest opening bid". That technique is part of what is destroying Ebay. What you're really doing is adding unnecesary friction to an efficient marketplace. Its a free option to the seller to basically say "I want to sell my item, but if I find that the market values my item below X, then I refuse to sell my item". That is what sellers do when they set high opening bids. Third- You suggest that sellers "give stuff away" by using an auction format. Again- The only reason you feel this way is because you think you know the REAL value of something- despite what the market is telling you. In fact, if you're a seller who continually puts high opening bids on your items- you essentially have become the market because you're saying that you place a higher value on that item than anyone else does. And so you keep your item on your shelf.
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Edit to add: And now that ebay offers free listing for auctions starting at any price, why not start the auction off at the lowest price you'd be willing to accept? That way, you may get one buyer or you may even get a few to drive the price higher than what would have been a BIN price.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>What sellers really mean when they say they are waiting for something to sell at their price is that they are waiting for someone who is either inexperienced or doesn't mind spending more than what something is actually worth to acquire it. If something has real value, especially in the collectibles category, I believe a 7-day auction format is more than sufficient to determine its market value.
Edit to add: And now that ebay offers free listing for auctions starting at any price, why not start the auction off at the lowest price you'd be willing to accept? That way, you may get one buyer or you may even get a few to drive the price higher than what would have been a BIN price. >>
+1. You said exactly what I was trying to say, but much more efficiently.
Always buying Bobby Cox inserts. PM me.
"...Next, you suggested that a seller should "protect themself" by starting their auctions with a "modest opening bid". That technique is part of what is destroying Ebay. What you're really doing is adding unnecesary friction to an efficient marketplace...."
/////////////////
In many categories, the "efficiency" of the auction format has broken down.
The dwindling number of bidders shifted all of the power to the buying side
and left sellers in the position of "taking what they could get" from a small
batch of sharpshooters, cheapskates and bargain hunters.
BINs were/are a reactionary move that has benefited sellers and EBAY. BINs
have delivered stability to prices in many categories that were in free fall. And,
EBAY is making more money than it ever has; a 90/10 BIN/Auction ratio has
delivered that.
................................................
This is anecdotal, but LOTS of folks are having similar experiences:
In May, I used an "unrelated" account to list 50 free auctions.
Categories were fashion related, with a few collectibles tossed in.
All items were commodity goods.
Pricing was at or near "EBAY retail."
BIN option was included in 25 listings.
25 listings were auction only.
STR was 100%.
All 25 BIN options were exercised.
About half of the auction format listings had only one bidder.
One auction had three bidders, the rest had two bidders.
The auctions generated two NPBs, both of which paid when
the NPB was filed.
What did each of the listings have in common?
They were all priced at the minimum price I was prepared to sell
for. Each delivered the price I wanted to obtain.
.............................
The experiment has caused me to reexamine my disdain for auctions.
The correct solution appears to be in grote's suggestion: Your opening
price simply needs to be the lowest price you will be happy collecting.
Using the BIN option - at 10% above the auction opening - will result in
sales.
...........................
The challenge for store sellers is that the free listings do not apply to their
accounts.
Would my experiment have been profitable, if I had paid a listing fee? Absolutely.
There is no real need for sellers to forsake auctions. They simply need to control
the outcomes by pricing their commodity items within their own comfort levels.
BINs are the future and they will remain the best format on EBAY, but auctions
can still be used safely.
..................
None of the items I sell eat anything. I lose nothing by leaving them on the shelf.
MOST experienced sellers are in that same position.
With MILLIONS of eyeballs floating around, high-BINs will eventually find a buyer.
whatever price I, as the owner of it, feel is reasonable then I have every right to ask it.
Many of my items have best offers as well. I am not "waiting for the inexperienced buyer"
but I am waiting for the buyer who doesn't want to wait around 7-10 days to see if they win something
and wants to purchase it when they want it. And agrees the value is at or around my asking price.
So if you find my price too high, then thank you for looking and I wish you luck in your search.
I have never forced anyone into a sale.
But I guarantee you if you sell enough items at 50% of what you damn well know you could
have received in a BIN. I will see you on the sidelines of auction selling as well.
Hulk Hogan
I would have never known where to price this in a Buy It Now.
Here is a link to a 99 cent auction that I think burned the seller, I had the exact same set + 1 card the Koslov full signature (about a 100.00 to 150.00 card) I started my auction at 1499.00 + S/H. it took me about 6 months to sell it , but i knew if it went the 99 cent auction route this would be the end result.
There are certain items that if listed at 99 cents bring 20 to 60% of there real value because there is such a small market and a little bad luck of not having the enough bidders watching at the time of your 7 day auction, or the buyers are confused,afraid or stupid because they can't find out how much the last one sold for ?, and don't have a clue on how to determine the value without VCP, Terapeak,SMR or ebay completed auctions. these are all good references to help determine what something is worth , but they are not written in stone. I don't know how many times I have ran into an item that can't be found on ebay or any of the 4 references I have mentioned, so it is time to dig deeper to find out the true value.
I don't think 886.54 is true market maybe wholesale if you need dump it.
I can name quite a few items that I have had over the last 5 years that if I ran a 99 cent auction, I would have lost money on. due to the fact that it was so rare or obscure it would have only brought 10 to 60% of market value. I know there is the exception to the rule that an ebay auction actually brings more than what the item is worth but those are few and far between.
I would also bet money that if this 94-95 BAP set at been consigned to an large auction house the seller would have realized more money than what ebay brought him.
I have a 2nd set of the 94-95 Bap that I would like to sell/list , but will wait at least a couple of months now due to this one , so it can hopefully be forgotten and disappear from the completed auction look up that ebay offers.
I am just glad this is not recorded on VCP, because of the mentality that hey that is what the last one sold for, so I should get this one 5 -20% cheaper. if everything went down there would be no market.
I am willing to bet the winner of this auction is happy and will make some money off there purchase. (probably another dealer)
I know this is a bad example because who in there right mind collects hockey.
Linky bad auction
Auction - you better have more than 1 interested buyer
I AGREE 1000%
EDIT TO ADD.. I agree with your entire post
I do some searches regularly where the ebay suggested related searches are some of my other searches - and these are wholly different types of items within sports memorabilia. That tells me I may be the only person actively working on a given set.
Nick
Reap the whirlwind.
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<< <i>I think if ebay banned snipe bidding , it would help the auction format and realize higher prices when the hammer falls.
Here is a link to a 99 cent auction that I think burned the seller, I had the exact same set + 1 card the Koslov full signature (about a 100.00 to 150.00 card) I started my auction at 1499.00 + S/H. it took me about 6 months to sell it , but i knew if it went the 99 cent auction route this would be the end result.
There are certain items that if listed at 99 cents bring 20 to 60% of there real value because there is such a small market and a little bad luck of not having the enough bidders watching at the time of your 7 day auction, or the buyers are confused,afraid or stupid because they can't find out how much the last one sold for ?, and don't have a clue on how to determine the value without VCP, Terapeak,SMR or ebay completed auctions. these are all good references to help determine what something is worth , but they are not written in stone. I don't know how many times I have ran into an item that can't be found on ebay or any of the 4 references I have mentioned, so it is time to dig deeper to find out the true value.
I don't think 886.54 is true market maybe wholesale if you need dump it.
I can name quite a few items that I have had over the last 5 years that if I ran a 99 cent auction, I would have lost money on. due to the fact that it was so rare or obscure it would have only brought 10 to 60% of market value. I know there is the exception to the rule that an ebay auction actually brings more than what the item is worth but those are few and far between.
I would also bet money that if this 94-95 BAP set at been consigned to an large auction house the seller would have realized more money than what ebay brought him.
I have a 2nd set of the 94-95 Bap that I would like to sell/list , but will wait at least a couple of months now due to this one , so it can hopefully be forgotten and disappear from the completed auction look up that ebay offers.
I am just glad this is not recorded on VCP, because of the mentality that hey that is what the last one sold for, so I should get this one 5 -20% cheaper. if everything went down there would be no market.
I am willing to bet the winner of this auction is happy and will make some money off there purchase. (probably another dealer)
I know this is a bad example because who in there right mind collects hockey.
Linky bad auction
That auction got 131 views and 26 bids from 9 unique bidders. I wouldn't call that a "bad" auction at all. Seems thats exactly where the market is right now for that set.
Always buying Bobby Cox inserts. PM me.
the guy just said he knows the market is much higher from experience...
I don't get how you can argue that auctions are not a great place to lose
money, if you have any experience at selling whatsoever.
you are trying to make your point about an item which totally contridicts your point.
If you market your items properly and deliver strong customer service your prices will be the highest realized for your items.
I think of my items as fragile and send them protected so the buyer knows it is a nice item they are recieving.
this is one of the most ignorant comments I have read on these boards
<< <i>"Seems thats exactly where the market is right now for that set."
the guy just said he knows the market is much higher from experience...
I don't get how you can argue that auctions are not a great place to lose
money, if you have any experience at selling whatsoever.
you are trying to make your point about an item which totally contridicts your point. >>
OAKSEY- I'm falling out of my chair laughing at some of the stuff you're writing. Your response was that "the guy just said he knows the market is much higher from experience". Experience? There you go again with your logic that presumes that old prices are REAL, but these low prices as of late aren't the REAL market. Just bad avertising or not the right people knew about the auction, right? You still don't understand that sellers on ebay don't dictate market prices. I've made this point a couple of times already. So you're saying that "the guy" knows the market for this item is much higher? Yet he just ran an auction that 131 people viewed and the market set a price for that item. THAT IS THE NEW PRICE FOR THAT ITEM. And yet, you still seem to believe that "the guy" knows the market better than everyone else who viewed the auction because of his "experience" LOL....
Always buying Bobby Cox inserts. PM me.
Many auctions get a fraction of that viewership.
That is the current selling price.
<< <i>
<< <i>I think if ebay banned snipe bidding , it would help the auction format and realize higher prices when the hammer falls.
Here is a link to a 99 cent auction that I think burned the seller, I had the exact same set + 1 card the Koslov full signature (about a 100.00 to 150.00 card) I started my auction at 1499.00 + S/H. it took me about 6 months to sell it , but i knew if it went the 99 cent auction route this would be the end result.
There are certain items that if listed at 99 cents bring 20 to 60% of there real value because there is such a small market and a little bad luck of not having the enough bidders watching at the time of your 7 day auction, or the buyers are confused,afraid or stupid because they can't find out how much the last one sold for ?, and don't have a clue on how to determine the value without VCP, Terapeak,SMR or ebay completed auctions. these are all good references to help determine what something is worth , but they are not written in stone. I don't know how many times I have ran into an item that can't be found on ebay or any of the 4 references I have mentioned, so it is time to dig deeper to find out the true value.
I don't think 886.54 is true market maybe wholesale if you need dump it.
I can name quite a few items that I have had over the last 5 years that if I ran a 99 cent auction, I would have lost money on. due to the fact that it was so rare or obscure it would have only brought 10 to 60% of market value. I know there is the exception to the rule that an ebay auction actually brings more than what the item is worth but those are few and far between.
I would also bet money that if this 94-95 BAP set at been consigned to an large auction house the seller would have realized more money than what ebay brought him.
I have a 2nd set of the 94-95 Bap that I would like to sell/list , but will wait at least a couple of months now due to this one , so it can hopefully be forgotten and disappear from the completed auction look up that ebay offers.
I am just glad this is not recorded on VCP, because of the mentality that hey that is what the last one sold for, so I should get this one 5 -20% cheaper. if everything went down there would be no market.
I am willing to bet the winner of this auction is happy and will make some money off there purchase. (probably another dealer)
I know this is a bad example because who in there right mind collects hockey.
Linky bad auction
That auction got 131 views and 26 bids from 9 unique bidders. I wouldn't call that a "bad" auction at all. Seems thats exactly where the market is right now for that set. >>
I wish I would have had some extra cash laying around and the set would have sold for more, because less than 60 days ago the market was at 1499.00 for the set quite a drop in 60 days 600+ dollars. oh yea I was one of the 9 bidders so there were really only 8 bidders, I threw a low ball bid in just to get it going.
I guess the real point is not all items are made for ebay 99 cent auctions, I have some items not sports related that will never see a 99 cent auction format, just sold a 1850's antique silver pillbox for 1200 had listed on ebay for 6 months at starting bid of 1100 to 1300 with no takers, then sold it to a private individual and he was tickled pink because he had it sold to another person for 1600.
I am certain this item would not have gone over 600 on fleebay in a 99 cent auction maybe a lot less, just because of it's rarity.
There are sports items also that are so rare or just not offered except once every 2 or 3 years or longer that it would be pure insanity to list in 99 cent auction.
I guess this is why there are a lot of buyers that are mad at sellers that refuse to run 99 cent auctions on certain items that they want.the seller is smart enough to know better and the buyer is just wanting to steal the item and then brag about what a deal they got.
This is also why the major auction houses usually get 10 to 50% more than ebay auctions get, they have true hard core collectors and investors that are willing to belly up to the bar and pay the price and also avoid all the scam artists that ebay has.
ebay sometimes reminds me of the guy that walks in my store (1990) and says wow that is high price on 89 score football 1.50 a pack 40.00 a box, the store down the street has it for 20.00 a box so sell me a couple boxes for 20.00, and I reply hurry down the street and buy every box he has for 20.00 bring them back here and I'll pay you 30.00 a box cause I am getting ready to raise my price to 50.00 a box, he leaves and never comes back (just a dream), can't get rid of a bad penny, but what was funny was I knew the guy down the street, because I had sold him 3 boxes of 89 score football the day before at 35.00 a box wholesale LOL.
Always buying Bobby Cox inserts. PM me.
My experience is that bread and butter, high profile cards will usually sell for solid premiums in less than six months, usually less than three. Buyers in love with auctions always paint a different picture than reality. Reality is that BIN's work and they aren't going away.
<< <i>For sellers who have money and patience, BIN's bring more profit. Vintagerookies is the best example of this. Most of his inventory was bought through ebay auctions and then flipped through BIN's, and his cards are mostly mainstream. If he were to simply re-auction his inventory, the average price would be close to the same. After fees, that would leave little if any profit.
My experience is that bread and butter, high profile cards will usually sell for solid premiums in less than six months, usually less than three. Buyers in love with auctions always paint a different picture than reality. Reality is that BIN's work and they aren't going away. >>
All great points. I'll add that if buyers think auctions are 'great', and sellers think auctions suck (an over generalization, but you get my point), then I think we can begin to draw some conclusions on the avg. selling price of auctions vs. BINs.
continue running your .99 auctions.. by all means.
you set the market.. and I will drive the market higher
and profit off your arrogance. The avatar fits.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I don't get taken at auction (like I used to), because I research like crazy now before I list an item
If I'd seen the item (or similar items) perform well at auction, I'll start it at .99 and sleep well at night
If it's an oddball item (ie a Chef Boyardee Mike Schmidt PSA 9) and likely to generate limited interest, I'll start it at a minimum acceptable bid
The reason I set a minimum auction price as opposed to BIN is I know there are MANY ebay card buyers that search only auctions. I sell to many of them and they have told me this. If I list a BIN they'd never see my item.
<< <i>I've done BIN and auctions
I don't get taken at auction (like I used to), because I research like crazy now before I list an item
If I'd seen the item (or similar items) perform well at auction, I'll start it at .99 and sleep well at night
If it's an oddball item (ie a Chef Boyardee Mike Schmidt PSA 9) and likely to generate limited interest, I'll start it at a minimum acceptable bid
The reason I set a minimum auction price as opposed to BIN is I know there are MANY ebay card buyers that search only auctions. I sell to many of them and they have told me this. If I list a BIN they'd never see my item. >>
+1 I agree 100% with you hammered. I would just add that if you do get someone to bid on the oddball item, you may get that one other person to join and push the price up. If you use BIN, you are locking in your selling price which may be lower than the actual market. Also, I tend to look at BIN only when I have no auctions that interest me which is rare.
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep."
"Life is what happens to you while you're busy making other plans."
Collecting:
Any unopened Baseball cello and rack packs and boxes from the 1970's and early 1980s.
<< <i>mcadams, you know it all.. so you can continue to LOL all you want.
continue running your .99 auctions.. by all means.
you set the market.. and I will drive the market higher
and profit off your arrogance. The avatar fits. >>
Sorry if any of my comments appeared personal. I didn't intend it that way. Its just always interesting talking with someone who shares the complete opposite viewpoint as I do. You keep pushing that market higher with those BINs, but if your shelves start to overflow with stale inventory, just remember that you personally place a higher value on those items than everyone else on Ebay does. Thats OK too, if you're a collector.
Always buying Bobby Cox inserts. PM me.
My two cents:
1)Ebay is not the only "market" so should not be used as the end all for "market" price.
2)Prices on ebay are only indicators of what a select group that chose to bid on an item during a particular time period would pay for a particular item. Also, keep in mind that the "winner" is the only one out of that select group that was willing to pay that price.
3)If you have no other place to sell your product, then perhaps ebay may be more of a "market" for you.
Mike
In an auction format, you need two buyers willing to pay the hammer price -- with a BIN listing, you need one.
As sellers (and buyers) of sports cards, we're dealing with a tiny percentage of the population having interest in our items -- adding one bidder to an auction can have highly disproportionate results. In the auction format, the key is having the talent or luck to add the incremental bidder that is truly interested in your item -- I can't depend on either so I sell essentially everything using BIN.
Scott
Always plenty of PSA-graded cards in my ebay store -- https://ebay.com/str/thelumbercompanysportscards
<< <i> think if ebay banned snipe bidding , it would help the auction format and realize higher prices when the hammer falls.
I AGREE 1000%
EDIT TO ADD.. I agree with your entire post >>
I don't agree. I would still try to manually snipe which would be much more inconvenient, but that's what I did during the beginning years of ebay. I would definitely look for auction sites that allowed sniping.
>
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