Buy It Now or Best Offer

Mescalito345 · May 24, 2009 1:03PM

It seems like many eBay sellers set a BIN price that is maybe 50% to 60% too high, but then they also accept Best Offers. This seems to be a good strategy, because some of the offers are better than expected.

So instead of selling a card at $30 BIN without the Best Offer option, is it better to list the BIN at $45 and then wait for an offer of $30?

Mintacular · May 24, 2009 1:10PM

Yes, I hate it, but I think it works. Guy prices a card at BIN Book Price, say $200, but only wants half of book ($100), you offer $125, he accepts, you feel good, so does he.

It's the same thing with dealers at card show who price an vintage EX card at 100% of book, let's you buy it "half-off" and you feel good about it yet seller has actually tricked you to buying the card at actual book value considering condition...(1950's cards at EX are no more than 50% of book...)

Allen · May 24, 2009 1:10PM

Yes. I sell pretty much everything that way. I have had a lot of success with it. Sometimes it sell with the BIN option even when you have Best Offers on an item.

Mescalito345 · May 24, 2009 1:18PM

Thanks for the responses. As an experiment, I'm going to try it on some $19.99 items I've been trying to sell. Will set the BIN at $30, with Best Offer option.

BassPro77 · May 24, 2009 1:20PM

me personaly,

i skip the buy now

PoppaJ · May 24, 2009 1:31PM

Seems like that's the way to go, in these economic times, unless you're willing to take a chance using the auction format.

Using the BIN BO format will prevent a seller from getting robbed, but the downfall many times is that items do not sell as quickly as one would like.

Personally, we only use the auction format for items that we know will reach their potential in price, like high end PSA graded Mantle cards!

PoppaJ

WinPitcher · May 25, 2009 9:01AM

I start my auctions at the least I am willing to sell an item for.

Thus far it has worked for me.

One thing I have also done lately is increase the price if no bids after 6 days.

Even those cards sell.

I have sold at around a 90% success rate.

Of course I'm selling 1950's cards.

Steve

divecchia · May 25, 2009 10:08AM

That would seem like a good way to do it with today's economy.

Donato

Mescalito345 · May 26, 2009 5:02AM

Question for WinPitcher: why do you increase the price, if there are no bids after 6 days?

The first time I list a card, I usually do a 10-day auction with a fairly high starting price. If the card doesn't sell, then I relist it with a 30-day BIN. After reading the responses above, I've changed some of the BINs to BIN or Best Offer.

wrestlingcardking · May 26, 2009 5:38AM

Sometimes I have a unique item and it is best to let the auction run, but if I have a good idea how much it will sell for I will list the buy it now with a best offer option. It seems as though if I make a fair buy it now option there are people that will use the best offer option regardless. I did this the other day with a rookie 1982 Hulk Hogan card. I am into vintage wrestlers and not the modern fake ones but I thought there might be interest in the hogan rookie in a psa 9. I inflated the price heavily and got a few offers and while waiting on a pending offer someone used the buy it now for my inflated price. I was pleasantly surprised and like how ebay will not let the bidder retract for 48 hours...i almost accepted the lower offer!

WinPitcher · May 26, 2009 5:42AM

Mescalito.

If I start a card at say 9.99 that should fetch 20.00, I'll up it to 14.99 if it has no bids after 6 days.

I have also done it with cards that should sell for 24.99 that I've started at 14.99 (i'll up it to 19.99)

Your question was why? Because I want to get the most i can for it.

Steve

minnesotahusker · May 26, 2009 6:08AM

<< <i>...I this the other day with a rookie 1982 Hulk Hogan card. I am into vintage wrestlers and not the modern fake ones but I thought there might be interest in the hogan rookie in a psa 9... >>

Today's modern "fake" wrestlers? So the vintage wrestler's weren't "fake?"

All these years I thought my dad was feeding me a story when he said wrestling was fake!! He'd better call me with an apology.

WinPitcher · May 26, 2009 6:19AM

I think he meant modern fake ones meaning cards not the wrestlers.

At least that is how I took it.

Could be wrong.

Steve

Mintacular · May 26, 2009 6:28AM

It all depends on the demand (or lack thereof) for your item. If your item is highly sought after, I prefer the auction format and have received good results. Occasionally, I will lose with this strategy, but usually make up for it.

If you have an item that has only a niche market (i.e. a handful of buyers might bid on it in a given week), I think the BIN/BO is better bet b/c on the wrong week, you may only get 1 or 2 bids for that specialty item and the .01 auction strategy fails...(Your $20 item sells for $2 on the contrary, a 30-day BIN/BO listing could yield one satisfactory offer)

Last point, some of these questions tie into your own selling philosophy. I have a "high risk high reward" mindset which leads me to do more auctions whereby if you want a more predicable, safer result then the BIN/BO option is a better one.

Mescalito345 · May 26, 2009 2:58PM

It does seem like an auction works OK for certain cards. This morning, I was the high bidder on the following card:

1964 TOPPS VENEZUELAN #287 TONY CONIGLIARO RC PSA 3

My bid was only $23. Just before the auction ended, there were some last-minute bids, and someone ended up paying $100 for the card. I'm sure that the seller was happy with this result. SMR online doesn't list prices for Topps Venezuelan, but the Beckett value is $250 for this card. In VG condition, I'm surprised that anyone would pay $100.

thenavarro · May 26, 2009 3:13PM

wrestlingcardking

id like a 82 Hogan and a 82 Flair. Just looking for affordable ones to get signed. Have you got thos two available. Shoot me a PM

Mike

Nathaniel1960 · May 27, 2009 12:11PM

<< <i>It does seem like an auction works OK for certain cards. This morning, I was the high bidder on the following card:

1964 TOPPS VENEZUELAN #287 TONY CONIGLIARO RC PSA 3

My bid was only $23. Just before the auction ended, there were some last-minute bids, and someone ended up paying $100 for the card. I'm sure that the seller was happy with this result. SMR online doesn't list prices for Topps Venezuelan, but the Beckett value is $250 for this card. In VG condition, I'm surprised that anyone would pay $100. >>

I really regret not going for a 66 Bill Freehan Venezuelan in a PSA 6, that looked like an 8, it ended up going for about $50. Still, most of those auctions get out of control.

WinPitcher · May 27, 2009 1:39PM

Nat just because it ended at 50.00 does not mean you would have won it one increment above.

The winner could have had a 200.00 max bid for all we know.

So don't feel bad.

Steve

mexisar · May 27, 2009 2:32PM

<< <i>Mescalito.

If I start a card at say 9.99 that should fetch 20.00, I'll up it to 14.99 if it has no bids after 6 days.

I have also done it with cards that should sell for 24.99 that I've started at 14.99 (i'll up it to 19.99)

Your question was why? Because I want to get the most i can for it.

Steve >>

Yup, And if only one bidder has a high snipe, raising the price works as a reserve if the snipe is higher.
also some sellers cancel the auction if it has no bids with one day left, and the starting bid is way low.
As a buyer I don't like it, so I have started to bid when the item has no bids with one day left and my snipe is higher.

WinPitcher · May 27, 2009 2:36PM

many times I start the card at 9.99 that should fetch 20.00-25.00 and it sells for 9.99.

If someone emails me and asks why I tell them that they could have bid when it was 9.99.
that I had it at the low starting price for 6 days. I guess it is a way of bidding on my own auction
but it is a legal way.

Steve

Buy It Now or Best Offer

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