Ebay - What to do, what to do? (not sports related)

mlbfan2 · December 1, 2011 4:11AM

I have a "one-of-a-kind" antique item on ebay (not a sports item). I put what I considered to be a high price on it, and it got a bid within a few hours, and it already has 16 watchers. The bidder then told me he'd buy it if I put it on again with a $700 BIN (4x the amount of his current bid). I'm afraid that the item will sell for only ~$300 if I let the auction run, but I also think that I could be leaving money on the table if I sell it to him for $700. FWIW, I've dealt with the bidder before, and he is likely a collector, and not a dealer who is going to resell it.

What would you do?

1980scollector · December 1, 2011 4:13AM

I think you are better letting it ride.

My experience is that he wants the item pretty bad and he probably is not the only one with 16 watchers already.

bobbyw8469 · December 1, 2011 4:15AM

Let it run its' course. If has at LEAST reach $400 before the last day, chances are you will pass the $700 level...(if your watchers grow)....

TonyC · December 1, 2011 4:17AM

I would try to do more extensive research to find another example for sale and its value. If you post what the listing is here, I and I am sure some other people would like to look into it.

handyman · December 1, 2011 4:23AM

Let it ride. I dont know what it is but I think it will go for 1066.88 ..
Good luck!

itzagoner · December 1, 2011 4:26AM

just the fact that he has approached you privately should be encouragement to let the auction run its course.

obviously, this is something that's attractive enough to create such desire, which will potentially lead to a very busy final 5 seconds.

handyman · December 1, 2011 4:28AM

And you should post a link to the auction. I know its spam but not if someone asked to see it.
Im curious. And I kind of want this "it" item.
But I would still let it ride like eveyone said.

mlbfan2 · December 1, 2011 4:33AM

Oh man, you guys are really making it tough because I was leaning towards selling it to him! When I saw his $700 offer, my face resembled my avatar (minus the whiskers).

handyman · December 1, 2011 4:35AM

With that many watchers and Im sure more to come. I think this item will do well. just from the story that you have told.
What is it?

EagleEyeKid · December 1, 2011 4:41AM

Is this it?

RMac · December 1, 2011 5:20AM

<< I would try to do more extensive research to find another example for sale and its value. If you post what the listing is here, I and I am sure some other people would like to look into it. >>

I agree, do more research. Last year I listed a Davey Crockett lunch box w/ thermos for a minimum of $30 and it got a bid within 5 minutes of listing it. Then I got an e-mail from the guy that said he'd buy it outright for $200 if I wanted to sell it. I told my dad and he was ecstatic and said "OK, do it!". Well I thought it was kind of weird so I decided to do a little research and found out that in good condition the thermos alone was "worth" $1300-$1500 and the lunchbox about $750. Ours wasn't in that great of shape, some rust here and there so I convinced my dad to let it ride. It ended up selling for near $800. So research can go a long way...

mlbfan2 · December 1, 2011 5:56AM

I appreciate the advice, guys. I did research it beforehand, but not well enough, because I didn't think it was worth that much. I set up at a few antique shows a few years ago, and I had it priced at $100, but no one bought it. Anyway, I just did some more research and I managed to find one just like it in a Heritage Auction, and it sold for $1,300!

I'm sorry, but I'd rather not say what it is right now.

mlbfan2 · December 1, 2011 6:06AM

<< Is this it? >>

lol. Nope, not dinosaur dung!

handyman · December 1, 2011 6:46AM

Is it porn?

digicat · December 1, 2011 6:47AM

Why not post a link to it? Maybe someone here might be interested in it too.

Sean1125 · December 1, 2011 6:52AM

It doesn't make sense that you wouldn't tell us what it is... Worst comes to worst someone puts a bid in... I don't see a negative to linking the item.

Foo3112 · December 1, 2011 7:39AM

I agree with Sean. Whats the worst that can happen - u get a bid from someone on here too?

Whats the big secret? Especially if youre asking us on advice and it seems a lot of people are trying to help you get the most you possibly can out of it.

thenavarro · December 1, 2011 7:49AM

If you'd be satisfied with the $700, take it. You might get more if you let it run, but then again, you might not. In an auction, it takes at least two to tango. In the Heritage sale you reference, do you know if there were more than two bidders after the $700 level? Or even after the $100 level?

Watchers doesn't necessarily equate into bidders.

I often times make ebay sellers offers of more than I'm willing to pay at auction. Many times, for those that don't take it, I enjoy watching the rest of their auction and watching the item sell for less than I offered (sometimes significantly) while I sit on the sideline and watch and place no more bids other than my initial place holder. I know personally, I don't like to reward sellers that won't deal with me, so I'd rather not get the item then to succumb to their greed unless it's truly something that I think I can't live without.

Good luck, whatever you decide I hope it works out for you.

Mike

drewsef · December 1, 2011 8:37AM

counter back at $1000 and reference the heritage auction

swartz1 · December 1, 2011 9:22AM

please dont tell us what it is...

KeepItWarm · December 1, 2011 10:09AM

I might offer you more than $700...what is it?

handyman · December 1, 2011 10:26AM

It's porn.
I also dont understand why keeping this a secret is smart. I mean its on the open market for sale but you dont want baseball card collectors to know about it.
Just post a link it can only help.

Smuggo · December 1, 2011 10:44AM

Mike,

Just curious, why is it necessarily "greed" that someone won't deal with you when they have an item up? Maybe its consigned, maybe they think they ca do better.
I wouldn't necessarily call it greedy just bc smeone won't take an auctin down.

Just MHO of course.

Jeff

vladguerrero · December 1, 2011 11:25AM

<< I might offer you more than $700...what is it? >>

alright I'm in at $725

Foo3112 · December 1, 2011 11:50AM

Then I will offer $800 for buy it now

brendanb438 · December 1, 2011 11:54AM

Is it some sort of antique sex toy? Come on you can tell us.

thenavarro · December 1, 2011 12:04PM

<< Mike,

Just curious, why is it necessarily "greed" that someone won't deal with you when they have an item up? Maybe its consigned, maybe they think they ca do better.
I wouldn't necessarily call it greedy just bc smeone won't take an auctin down.

Just MHO of course.

Jeff >>

Jeff,

It was probably a poor choice of words on my part. I don't know the proper term to use for it but probably shouldn't have used "greed". I was trying to find a good word that would explain situations that I occasionally encounter such as the following:

I collect HOF & Legend signed rookie cards and have a thread of such on several message boards. Occassionally, I'll see a card that interests me on ebay, and I'll want to add it right away, rather than to have to wait around a week or 10 days on ebay to mess with it ( I don't use snipe programs so I would have to pay attention to the ending and make sure I was around to bid) Therefore, I'll make the seller an offer, usually above the market value of the signed card (I tend to have a general idea of what the items I'm looking at are likely to fetch on the ebay market) to end it and sell it immediately to me. My ebay name is the same as the one I use on my various threads and they've seen my threads on one of the boards, cause they make reference to it in our messages or I'll disclose it in our messages to show that I'm serious with my offer, and they assume that I'm willing to add it at "any cost" so they decline my offer and let the auction run it's course as they assume I'm going to jump in and bid at the end. While it's true that there a handful of cards that I'm going to get anyway and will go ahead and bid, the large majority of them, I don't. Therefore, I term it "greed", cause they assumed they were going to get more money out of me, then I was willing to offer, and more than the item subsequently suld for.

Your right though, it's probably not the right term, and I understand in the scenarios you mentioned that "greed" wouldn't be the driving factor, but in some cases it is. Doesn't mean that I think they are "bad" sellers, or that I won't deal with them in the future, just means that I get a small joy out of seeing them realize a selling price less than they would have gotten from me, if they had only sold it a week earlier when I offered.

Take care,

Mike

PS- sorry for the run on sentences, it might make reading that hard but I'm tired, LOL

handyman · December 1, 2011 12:10PM

Glad that was cleared up.
So what is it?
so the opening bid I guess was 150-200. HMMM what could it be.
How about when does it end?

lanemyer85 · December 1, 2011 12:40PM

<< Is it some sort of antique sex toy? Come on you can tell us.

>>

sort of, it's an arab strap...

mlbfan2 · December 1, 2011 12:50PM

It's just an ordinary-looking (and G-rated) sterling silver item, but I guess its quite rare. The only reason I don't want to post a link to it is because I don't like giving out my ebay user ID.

Ebay - What to do, what to do? (not sports related)

Comments