ending an item early - wisdom needed

thehallmark · August 11, 2008 12:32PM

This may or may not be a hypothetical.

One day after I put a card up for auction, I got three requests to end the item early. Two of the messages asked me to if I would "Discuss a deal to end it early" and the other message was a specific dollar offer - for 3x what I paid for the card.

Here are my priorities, in order:

(1) Get as much money as I can on the sale of this card
(2) Don't get in trouble with Ebay
(3) Be fair to the three bidder-emailers

I'm not sure if there is a way to achieve all three of these. Ideally, I'd like for each guy to wildly outbid the others during the legit auction...but that is very unlikely. My sense of it is that if I don't take one of these off-site bids, the card will sell for about 1.5x the price I paid for it.

What would you do, exactly?

bobsbbcards · August 11, 2008 12:33PM

Let the auction run.

CDsNuts · August 11, 2008 12:37PM

Depends on the card. What card is it?

thehallmark · August 11, 2008 12:45PM

You don't believe this is just a hypothetical???

I'm reluctant to say which card it is because some of the creepies around here get bored and mess with people's auctions.

If you PM me some poker tips, I'll PM you the auction#.

Boopotts · August 11, 2008 12:48PM

<< <i>Depends on the card. What card is it? >>

It's a 1960 Fleer Paul Waner PSA 9. The market for that card is HUGE, and you'd be a fool to end the auction early.

thenavarro · August 11, 2008 12:50PM

I often times send offers to buyers to end an item early and sell it to me. About 90% of the time, I offer them an amount higher than what I will bid if I'm forced to bid, so don't necessarily count on them bidding as high. Many times, if a person isn't willing to deal with me if I made them an above reasonable offer, then I won't participate in the bidding. When I do end up bidding, I usually win the item at least 75% of the time and usually far lower than my initial offer. I'm willing to pay a premium for the "sure thing" and for not wasting my time on something I might not get if it goes to auction. Time is money, and a lot of times is far more valuable.

Ebay allows you to end the auction early with the reason, item is no longer available for sale. That would be a valid reason if you sell it away from ebay. If the price you are getting for the item meets or exceeds your expectation, then by all means, take it. Ebay is just another advertising venue and I don't see it as being a question of fairness to allow the other people a chance to bid on it. If they want it, they can step up to the plate and make a decent offer, otherwise, they didn't want it bad enough to take the initiative to strike a deal with you.

If ebay didn't allow this, it would be a different story, but they do. If you list in your listing that you won't end the auction early, then by all means, stand by your word and don't end it early. However, if you don't state that you won't end it early, you don't owe it to anyone to continue the auction if you feel you want to take an offer.

Mike

mmsportscards · August 11, 2008 12:51PM

if its a dale murphy, let it ride!!!! trust me

fkw · August 11, 2008 12:53PM

Simple rule for a newbie

NEVER end an auction early... Unless you want less $$ for the item....... Period!!

thehallmark · August 11, 2008 12:57PM

<< <i>Many times, if a person isn't willing to deal with me if I made them an above reasonable offer, then I won't participate in the bidding. When I do end up bidding, I usually win the item at least 75% of the time and usually far lower than my initial offer. I'm willing to pay a premium for the "sure thing" and for not wasting my time on something I might not get if it goes to auction. Time is money, and a lot of times is far more valuable. >>

This is precisely what I think will happen if I turn down the offers. I often behave the same way when I target a card early in its auction.

Regarding your other comments...you have an interesting ethical perspective. I'm not sure if I agree or not, but you make a compelling case.

Boo, I'm not selling any of my PSA 9 Waners this week. Market research says that you only sell blue chip Pirates cards in June. duh.

cefy1 · August 11, 2008 12:58PM

Let it run. Ebay has been so slow lately, if you have 3 offers in a day the bidders will be there. Quality items seem to be fetching premiums as there hasn't been much out there lately IMO.

lawnmowerman · August 11, 2008 1:03PM

I was watching a card all week, had it on my snipe list ready to fire.

I came home today and it was gone. I can't even find it under completed auctions.

When a seller ends a listing early, does it totally disappear without a trace?

Anyway, it's up to the seller if they want to end stuff early, after all, it's their goods.

It does however make me mad when it happens to me but oh well, there will be other cards.

thenavarro · August 11, 2008 1:05PM

<< <i>
This is precisely what I think will happen if I turn down the offers. I often behave the same way when I target a card early in its auction.

Regarding your other comments...you have an interesting ethical perspective. I'm not sure if I agree or not, but you make a compelling case.

>>

Just so my comments don't come across the wrong way. I 100% believe that a person should honor their word. That's the ONLY proper way to do business. In life, we are only as good as our word, and anyone that deals with me, can bank on mine. That being said, as long as you are true to your word and are within whatever the system allows that you are playing in, use that system to your best advantage and run with it.

Take care,

Mike

HobbyKings · August 11, 2008 1:06PM

If its like Boopotts said and it does have a huge market then I would let it run.

If not, then I would go with the highest offer, you are trying to make the most money you possibly can i'm sure, so why not go with the highest offer?

You are not going against any ebay rules if you just put up a buy it now price for what the highest offer was.

I'm sure Boopotts knows what he's talking about so I would go with his choice and say let it run!

HK

billwaltonsbeard · August 11, 2008 1:08PM

I've never been a HUGE Ebay seller, but the only time I've ever ended an auction early is when I had a really great cash/trade offer that I couldn't pass up.

If you're looking for straight cash, and you're selling an item that you know more than one person wants, there's never a reason to end an auction early. Let them bid on it!

dontippet · August 11, 2008 1:29PM

I have received multiple requests to end and auction early once. SMR was $180, my starting price was $180. I would have gladly taken $350 to end it early (I thought about asking that much from the guys asking to end it early). The exact card was even in my Naxcom store for $300 or $350 until the end of the auction. I let it ride and it went from $287 to $1,025 in the last minute.

I would respond to the people inquiring that you have had three offers to end it early and you are going to let the auction run its course.

Ahmanfan · August 11, 2008 3:59PM

<< <i> If they want it, they can step up to the plate and make a decent offer, otherwise, they didn't want it bad enough to take the initiative to strike a deal with you.

Mike >>

I mean isn't this what the ebay auction format is in a nutshell? I feel like this is going in circles. They do want the item, so they will bid on it. If they want it bad enough, their bid will be higher than yours. It seems like if everyone is making offers to the seller to sell the item off ebay, isn't that just an auction format basically so we are back to square 1 and should just let the auction run it's course? if everyone would just put what offer they email to the seller in as their max bid, it would make a lot more sense.

Or am I crazy.
John

ending an item early - wisdom needed

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