Why do you use Or Best Offer selling on eBay?
TopographicOceans
Posts: 6,535 ✭✭✭✭
I'm a procrastinator.
Whenever I have eBay bonus bucks or a coupon I look to see if I can find something to buy. A majority of the BIN coins have OBO.
Now I have a $20 off $100 coupon and the clock is ticking. I’m looking at BIN and I see coins I like, but they have OBO. I’m also cheap, so I’m not going to pay your full asking price if you advertise you will take less.
But I don’t have 48 hours to submit an offer and wait for a response, so I skip it.
If you want $200 for you coins, list it with a $200 BIN, not $225 OBO.
I did get one of my favorite coins with an offer though. I had an hour to go and I saw this ANACS coin I liked. I wrote a message with my offer saying I needed to hear back ASAP or I would have to withdraw my offer since my discount would expire.
Fortunately the seller had set it to automatically accept a lower price, and I got it for my offer.
It now resides in a PCGS holder. But a note to sellers - sometimes OBO will cost you a sale from the procrastinating coupon buyers.
Whenever I have eBay bonus bucks or a coupon I look to see if I can find something to buy. A majority of the BIN coins have OBO.
Now I have a $20 off $100 coupon and the clock is ticking. I’m looking at BIN and I see coins I like, but they have OBO. I’m also cheap, so I’m not going to pay your full asking price if you advertise you will take less.
But I don’t have 48 hours to submit an offer and wait for a response, so I skip it.
If you want $200 for you coins, list it with a $200 BIN, not $225 OBO.
I did get one of my favorite coins with an offer though. I had an hour to go and I saw this ANACS coin I liked. I wrote a message with my offer saying I needed to hear back ASAP or I would have to withdraw my offer since my discount would expire.
Fortunately the seller had set it to automatically accept a lower price, and I got it for my offer.
It now resides in a PCGS holder. But a note to sellers - sometimes OBO will cost you a sale from the procrastinating coupon buyers.
0
Comments
<< <i>Whenever I have eBay bonus bucks or a coupon I look to see if I can find something to buy. A majority of the BIN coins have OBO.
Now I have a $20 off $100 coupon and the clock is ticking. I’m looking at BIN and I see coins I like, but they have OBO. I’m also cheap, so I’m not going to pay your full asking price if you advertise you will take less.
But I don’t have 48 hours to submit an offer and wait for a response, so I skip it.
If you want $200 for you coins, list it with a $200 BIN, not $225 OBO. >>
That's the downside of BIN w/OBO auctions. Never buy it BIN unless you try OBO with something a little less, but submitting an OBO bid locks you in for 48 hours without the option to cancel while the seller can wait to decide whether to accept the order. Ebay really should modify OBO to allow a potential buyer to cancel the OBO at any time after it's been submitted. This puts a little pressure on the seller to respond more quickly and allows the Buyer to not be potentially tied in to that auction for 48 hours.
I agree with you. Sometimes I give myself a budget to spend on coins and I don't like it being tied up while I wait for an OBO.
<< <i>That's the downside of BIN w/OBO auctions. Never buy it BIN unless you try OBO with something a little less, but submitting an OBO bid locks you in for 48 hours without the option to cancel while the seller can wait to decide whether to accept the order. . >>
the listing should show if it has auto accept/decline as all my bin listings do have both, or should anyway. this doesn't help if the middle amount is selected
could have swore there was a cancel offer option; im nearly positive.
.
Technically, yes...but on eBay you can cancel as many times as you want and for any reason. It's not right, but I've had many buyers do it.
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
As a seller I use OBO strategically , I don't put it on everything I don't normally care how long it takes to make an individual sale.
A sellers job is to get the best price for his items , not to make life easy for buyers with coupons or ebay bucks promotions burning a hole in their pockets.
Ebay and its promotions are too fickle to depend on half the buyers don't get the offers anyway.
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
<< <i>You can withdraw your best offer or counter offer, have done it when there was no response within reasonable time as a buyer and a seller. It's not a bid, it's just an offer. No reason to wait 48 hours. >>
I have done this many times if not hearing back in what I consider acceptable. If I have a listing with a BIN with OBO I get a msg sent to my phone so can reply right away. I don't understand why more sellers don't use this option.
Pending offers can represent interest. One strategy is to ignore best offers during an ebay bucks promotion in the hope that someone will think its a hot item and pay full price.
On items where margins are tight or its at a wholesale price BIN / Make Offer is not used.
It's OK to retract a Best Offer if:
You accidentally enter a wrong offer amount (for example, you submitted an offer for $9.50 instead of $99.95).
The description of an item you have placed an offer on has changed significantly.
You cannot get in touch with your trading partner by email or telephone.
<< <i>Ok, I found the retract link thing. Retracting a bid isn't open-ended by Ebay rules and requires a valid reason.
It's OK to retract a Best Offer if:
You accidentally enter a wrong offer amount (for example, you submitted an offer for $9.50 instead of $99.95).
The description of an item you have placed an offer on has changed significantly.
You cannot get in touch with your trading partner by email or telephone. >>
Retracting an offer should only be done if there really was a wrong amount entered, or if there is no response from buyer or seller in reasonable time and the party making the offer does not want to wait 48 hours to let it expire. Example, a buyer makes a best offer and seller does not counter or decline. Seller should respond but does not, so buyer retracts after a reasonable time to bid on something else or just figures the offer was not considered. Uses the entered wrong amount option. Same thing if seller counters and no response and does not want to let the counter sit out for 48 hours. This is not bidding as such, no contract broken and ebay does not care.
<< <i>Why do you use Or Best Offer selling on eBay? >>
We don't....
Coin Club Benefit auctions ..... View the Lots
if you want $200 for an item you have to list it at $450 ... a few will offer $50, then ask why they cant make another offer, I ask generally 30% higher than id like, you have to leave the wiggle room. if I I mistakenly list a $10 eagle for $100 someone will offer $25 just human nature to try and chisel someone down I suppose. personally I don't bother offering less than 70-75% of an asking price if the price is too high, I keep shopping. I don't have the patience for low ball BS offers
I also have the best offer set to reject at $1, even if it is a $1000 item.
I get a few low ball offers, which I either ignore or reject.
Most of my sales are full price.
I do review offers. Maybe the price is out of touch with reality. Maybe I have too many of them, and I am willing to have less of them. Maybe it has been around too long. Maybe I think 1 sale might lead to a bunch.
Some people will offer less, no matter what the price is, just because that is the way they are.
I would rather sell 5 items at $45 than 0 at $60.
I also do not believe in holding inventory for years. I try to buy intelligently, price appropriately, turn it over, and move on. Most of my stuff moves in less than 6 months.
<< <i>Why do you use Or Best Offer selling on eBay? >>
I don't either.
And low balls is a quick trip to penalty box.
<< <i>people confuse "best offer" with "will take any offer" >>
``https://ebay.us/m/KxolR5
<< <i>people confuse "best offer" with "will take any offer" >>
There's more truth to that than poetry. After trying to sell a year or two with BO's I soon found out that the majority of "offers" were lowballers/give-away seekers who think "or BO" means "desperate to sell". Now, whenever I sell with a BO option I make sure I include a auto-decline and a auto accept price in my listing.
OTOH, as a potential buyer of a "BIN or BO" listing, more than once I have lost out on a nice coin by placing a (decent) offer bid only to have someone else BIN or offer a bit more while I was waiting for acceptance.
- Jim