What is your experience when listing BIN/BO?

lightningboy · April 9, 2010 1:34PM

I recently listed a popular vintage rookie card with a Buy it Now/Best Offer of $450. I received a couple of offers within the 1st day with 7 watchers. The 2 offers aren't bad, but not quite what I would settle for. My question: do offers typically get better as auction runs or do they go downhill --- should I take a current offer? Any insight appreciated. Shoot, I'll even listen to some half baked ideas.

nam812 · April 9, 2010 1:41PM

Why not send a counter offer the ones that are close?

DavidPuddy · April 9, 2010 1:42PM

I usually send a counteroffer.

diamondman · April 9, 2010 1:50PM

I have not listed to many BIN/BO(maybe 10 or 12), but the ones I have have been busts either no offers or offers of 25% of the BIN.
example a Griffey Jr autographed gartlan 10 1/4 inch plate list 79.99 had an offer of 20.00 & one of 25.00 (didn't realize griffey jr was signing at shows for 20.00. LOL), have it listed now as an auction but if no bids come around I think I will just throw it in the floor and feed the dog off of it. These use sell anywhere btwn 150 to 225.

let your BIN/BO run if you don't get what you want throw into an auction format, good rookies will sell and maybe more than your BIN.
I think people have a mindset that if your selling it for 100.00 bucks , you must only have ten dollars in it. they would rather win an auction and pay 125.00 for bragging rites , hey I won this in an auction. JMHO

Zixx · April 9, 2010 2:48PM

To me a BO feature is usually when it meets with some criteria. For instance, on a higher dollar item that I offer a Best Offer, it's usually something I have a good profit margin with and am looking to move. I might list it a little higher than the going rate, knowing I should get some offers. Unfortunately, this is a reason for people to make pretty lame lowball offers.

But when there's an offer that's reasonable, I will counter and perhaps send a note if that is truly my bottom line price. I've had some success with it, but rarely add a Best Offer.

For some of the more popular items that I sell, I might check the going rate based on past sales and list it for 5-10% higher, assuming there's not a plethora of them that I'd be in competition with. Then it's just a nickel a month and wait for either the market to rise or for that one buyer who is looking for that particular item.

If you are into an item for say, $200 and the value is now $400 and you list it for $450 with BO, I would think you might get some $300 offers to start with. Keep in mind people have 3 offers before they cannot offer anymore. You can keep track, knowing that if they want it, they will either email you about it or that their 3rd offer will be their best. But if you were willing to accept, say, $350, then just counter and tell them that's you bottom line; take it or the next guy will.

divecchia · April 9, 2010 5:59PM

If the offers are close to what your looking for send a counter offer.

Donato

DeutscherGeist · April 9, 2010 8:29PM

We are in a recession and its a buyer's market out there. Things are not worth as much anymore, especially sports memorobilia. Don't be so hard on offers that you consider "lowball." Just say no if you don't like it--do not take it personally. There are only a few items that are recession proof, otherwise, the buyer has the edge.

If I see an item that I want with a BO, but its been on ebay for awhile, I make an offer I feel comfortable with, but if the seller wants to wait it out, so be it. Some stuff is just hard to move. Some sellers are more flexible than others and there is no way for a buyer to know that, so he/she makes an offer. Do not take lower than expected offers personally, though. Its just business.

bobbyw8469 · April 9, 2010 9:18PM

Are we still in a recession? Everytime I try to pick up something thru one of the sports memorabilia auctions, it goes really high. Also the Dow hit over 11,000 Friday.......maybe the recession is over, but buyers are still using that excuse?

DeutscherGeist · April 9, 2010 9:30PM

There are still many people unemployed and the economy still has not recovered even if there are some indicators by experts that show an upward trend (its a very slow recovery, so consumer demand is still cautious).

Garabaldi · April 9, 2010 9:56PM

List it with a BIN and you do not have to worry about a "Low Ball Offer". There is a good chance that someone tries to offer you a price outside of Ebay.

Sportsamerica · April 9, 2010 10:27PM

or just set you decline price at something you don't want to even see..

Ironmanfan · April 9, 2010 10:52PM

I just bought two items this week at a "Best Offer" of 50% of the BIN......(BIN was $20 in each instance)

swartz1 · April 9, 2010 11:00PM

set the BIN / BO offer higher than $450...

WinPitcher · April 9, 2010 11:09PM

The recession may be over on wall st, but on main street it is a different story.

Counter those 2 offers.

(one at a time of course)

Steve

MooseDog · April 9, 2010 11:27PM

It all depends on the item of course, but when you do BO you'll get a lot of low-ball offers, but I've found if the item is desirable at all, eventually you'll get a fair offer, just to give an example, say a PSA 8 that has an SMR of $80 and a VCP range of $40-$75. You'll get a dozen offers to reject but usually someone will come through with a "reasonable" offer. What I do is try price about 20% over what I'd like to get. If someone offers in that range I usually accept. Unless the item is truly rare, you'd be nuts to hold out for the last nickel.

Garabaldi · April 9, 2010 11:57PM

<< <i>The recession may be over on wall st, but on main street it is a different story.

True, very true and it is going to be awhile.

storm888 · April 10, 2010 12:14AM

The stock market is a bogus indicator of "recovery."

0% interest rates and "free" bailout money is ALL that
is propping up Wall Street.

A depression may have been delayed, but it won't be
avoided. Most consumers realize that and are behaving
accordingly.

...............

BINs work great - with or without BO - on EBAY, for me.

Garabaldi · April 10, 2010 12:19AM

Even if the economy turns around it is still going to be awhile before consumers start spending like before. Consumer confidence is always the last thing to turn around.

UlyssesExtravaganza · April 10, 2010 2:22AM

If you're looking to move items and okay with letting someone get a deal, I think BO is a good option. And sometimes people will surprise you with some great offers. If you're looking to hold out to maximize top dollar, it can still be effective but will probably take a good long time. I think if your BIN is too close to what you'd accept as a BO, BO could end up not being a good idea. Often BO buyers want a nice discount so with my BINs w/BOs my BIN is usually pretty high.

ICE9 · April 10, 2010 2:43AM

From a buyers perspective, I've seen a lot of BIN/BO on eBay with REALLY high BIN prices. They go on to say something to the effect of I know the BIN is set very high, just send me an offer. Example, I picked up two Topps proof cards each had a BIN of $500...I offered $50 for one and $30 for the other. The seller accepted both offers without a counter. Another: about six months ago a seller had hundreds of old concert stubs listed, each with BIN set at $250. Again, seller stated that they knew BIN was set very high, but it was easier to list that way...send an offer. I picked up a 1974 Geneisis stub from the LLDoB tour for $30. I think this selling tactic that results in higher returns than an auction starting at $9.99.

MULLINS5 · April 10, 2010 4:06AM

As long as the offer is reasonable I'm open to negotiate...people like getting a better deal. With that said, if the buyer buys only one item from me, I will only take about up to 5% off. If the buyer purchases more than that one item from me I am willing to give a better deal, perhaps up to 10% off the total purchase.

It all depends on the cards too, point is, I will work with anybody, but I won't give things away.

Blacklabelsociety · April 10, 2010 4:10AM

BIN's/BO might work if you are willing to wait 2 years to get a reasonable offer on vintage graded cards. I still use auctions and get better prices.

What is your experience when listing BIN/BO?

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