What would you do? Demand way exceeds expectation

Miss Sooky · Jan 18th, 2007, 03:03 PM

Hi all, looking for some sound eBay advice from the best ebayers I know!

I have listed an item that I knew was rare and desirable, but has exceeded my expectations. It has 3 bids and 49 watchers. The interest has been phenomenal. With hindsight my opening bid was too low and it is now bid up to about where I think I should have started. Last night someone with 500+ positive feedback offered me 4 times the current highest bid immediately via paypal as she has been waiting for this item for ages and is, in her words, 'desperate to buy it'. The auction has just under 2 days left to run.

Even if I were tempted to end the listing and sell to the person who has offered the large amount, is it ethical to do that when others have already bid on the item?

What would you do?

surferchick2 · Jan 18th, 2007, 03:23 PM

It's totally up to you, but personally I'd let it run. It's a bummer for the watchers and bidders who may be looking forward to bidding or sniping and if one of them who wants it just as much may alert eBay. I know that's happened to a couple of sellers. Also, sometimes buyers will offer less than what it would ultimately go for in hopes you won't know that (or lie about it's popularity). I'm not saying this person is doing that(and if she's offered 4X the current amount, I'm sure it's an honest offer), and it's easy to check and ask but it's something to think about. Given that, I don't think it's unethical to end it but it's really your call on what you prefer to do and how you feel about it. If it's an outrageous amount of money, that would be a tough call.

Westiegirl · Jan 18th, 2007, 03:24 PM

It's a tough one that's for sure, it could be considered unethical, but not illegal. I have placed bid on items before and they have been ended early most likely for not reaching the desired price. It's completely up to you, but is the offer just too good to pass up?
You could always list your item as a buy it now today (20 cent sale) and if she buys it today great, if not then cancel.
Good luck!

hlfinn · Jan 18th, 2007, 03:40 PM

I would not end the item and cancel the bids just to sell it to someone. first of all- if she's willing to pay that someone else might be as well. second, if she's willing to pay that then she will bid that high and you could still sell it for that price.

it is not illegal but it isn't right. you run the risk of teeing off your bidders who might just be uture customers.

in my experience people who email looking to buy it right away at a certain price are doing so because it is worth much more. they do not have YOUR best interests at heart, kwim?

but now i REALLY want to know what it is!!! can you pm me? please?

hlfinn · Jan 18th, 2007, 03:44 PM

oh and when the demand for my item exceeds my expectations i look like this

then i do a little of each of these

Miss Sooky · Jan 18th, 2007, 04:15 PM

Quote:

Originally Posted by hlfinn

I would not end the item and cancel the bids just to sell it to someone. first of all- if she's willing to pay that someone else might be as well. second, if she's willing to pay that then she will bid that high and you could still sell it for that price.

it is not illegal but it isn't right. you run the risk of teeing off your bidders who might just be uture customers.

in my experience people who email looking to buy it right away at a certain price are doing so because it is worth much more. they do not have YOUR best interests at heart, kwim?

but now i REALLY want to know what it is!!! can you pm me? please?

PM on its way - it isn't a bag though! And thank you - you have made me sure how I think I felt . . . if that makes any sense at all!

Westiegirl · Jan 18th, 2007, 04:41 PM

Let us know what you decided and it is a great feeling when an item exceeds its expectations.
I sold a pair of boots recently and expected $50 and they sold for close to $150!

hildav · Jan 18th, 2007, 04:42 PM

ooo that is a toughie. If someone is willing to pay more then why not put a bid in?

Good luck!

Hilda:)

kalodie1 · Jan 18th, 2007, 04:49 PM

A tough call for sure. I would check the completed listings of a similar item to yours to see what it sold for. If the deal is actually great and very profitable for you and will most likely be substantially more than the final auction price then I would probably sell it for the offered price. Ethical, not really. Practical, very. I am sure many, many sellers do this and I have actually offered someone a large amount for something I really wanted recently and they accepted. Worked out for both of us. Be sure this offer is from a reputable ebayer and check not only their feedback score but their actual feedback comments as well. Sometimes those comments are very telling. Good luck!

primeraclase · Jan 18th, 2007, 04:53 PM

Agreed, I sold a Chanel bag that SWMBO bought three-four years ago off eBay for $200 or so. I expected $100... and got $350. I'd never end early with that much interest on an item that's rare and in demand unless the offer is just way over the top and you're sure the buyer is rock solid. For every person that contacts you, there's likely 5 more watching that haven't, and another 15 who aren't officially 'watching' but have seen the item.

I have had cases where I've passed on BIN offers and ended up with less, but never by much. Those times are offset 10x by the times I turned down offers and got far more than I thought I would. With a motivated buyer, anything is possible.

As for ethics, I don't see it as unethical at all. Nothing prevents another bidder from making the same offer! I simply don't bargain and I never mention a BIN. The way I handle is to tell the bidder that I don't have a number in mind but am open to offers. If the offer they make is acceptable, I will. If not, I tell them I'd prefer to let the auction run and that they may be able to get the item for less by bidding and thank them for their interest.

Miss Sooky · Jan 18th, 2007, 04:56 PM

You have all been really helpful (again - you're creating a precedent here you know!). I have just emailed the prospective buyer to thank her for her offer but explain that I have decided to let the auction run, but I hope she'll continue to watch as she may end up with a bargain . . .Of course, I hope that last bit is wrong! I think it was the right thing to do though, but I'll let you know if I am regretting this decision in 48 hours time!

lorihmatthews · Jan 18th, 2007, 05:50 PM

I had this happen to me right before xmas -- a bidder wanted to do a buy it now on a brand new high end handbag, and I had to refuse him at least 3 times. After the 3rd time I said no (I know, I shouldn't have kept the email chain going on that long), he got incredibly abusive, called me names, said he hoped I got screwed on my auction and other nasty things. So ... it only reinforced the fact that I don't end auctions early.

dcgal · Jan 18th, 2007, 05:55 PM

This all sounds very exciting Miss Sooky! If you have that many watchers, you can bet that there will be a flurry of bids right at the end of the auction - so don't worry even if the price is still relatively low ten minutes before the end. Even I don't bid until the end of an auction now, in the hope that I won't drive the price up too high in the meantime (never works!). I'm dying to hear how you get on - keep us updated!

Dcgal

susan-eric · Jan 18th, 2007, 06:08 PM

The things about most watchers though is that they don't bid. Some do, but many are hoping to sell similar items and want to see what you'll get and some are just watching for curiosity. I once had 38 watchers on a handbag and it sold at the beginning bid, i.e., one person bidding and 37 just watching.

siworae · Jan 18th, 2007, 06:20 PM

^ i agree. i once had 20 watchers on a wallet i was selling... in the end the auction only had 4 bidders. it went exactly up to the reserve price, but i was hoping it would sell for a bit more.

Jan 18th, 2007, 03:03 PM	#1
Miss Sooky Member Location: Curled up with a book	What would you do? Demand way exceeds expectation Hi all, looking for some sound eBay advice from the best ebayers I know! I have listed an item that I knew was rare and desirable, but has exceeded my expectations. It has 3 bids and 49 watchers. The interest has been phenomenal. With hindsight my opening bid was too low and it is now bid up to about where I think I should have started. Last night someone with 500+ positive feedback offered me 4 times the current highest bid immediately via paypal as she has been waiting for this item for ages and is, in her words, 'desperate to buy it'. The auction has just under 2 days left to run. Even if I were tempted to end the listing and sell to the person who has offered the large amount, is it ethical to do that when others have already bid on the item? What would you do?

Jan 18th, 2007, 03:23 PM	#2
surferchick2 Member	Re: What would you do? Demand way exceeds expectation It's totally up to you, but personally I'd let it run. It's a bummer for the watchers and bidders who may be looking forward to bidding or sniping and if one of them who wants it just as much may alert eBay. I know that's happened to a couple of sellers. Also, sometimes buyers will offer less than what it would ultimately go for in hopes you won't know that (or lie about it's popularity). I'm not saying this person is doing that(and if she's offered 4X the current amount, I'm sure it's an honest offer), and it's easy to check and ask but it's something to think about. Given that, I don't think it's unethical to end it but it's really your call on what you prefer to do and how you feel about it. If it's an outrageous amount of money, that would be a tough call. Last edited by surferchick2; Jan 18th, 2007 at 03:27 PM.

Jan 18th, 2007, 03:24 PM	#3
Westiegirl Member	Re: What would you do? Demand way exceeds expectation It's a tough one that's for sure, it could be considered unethical, but not illegal. I have placed bid on items before and they have been ended early most likely for not reaching the desired price. It's completely up to you, but is the offer just too good to pass up? You could always list your item as a buy it now today (20 cent sale) and if she buys it today great, if not then cancel. Good luck! Last edited by Westiegirl; Jan 18th, 2007 at 03:28 PM.

Jan 18th, 2007, 03:40 PM	#4
hlfinn runner in training	Re: What would you do? Demand way exceeds expectation I would not end the item and cancel the bids just to sell it to someone. first of all- if she's willing to pay that someone else might be as well. second, if she's willing to pay that then she will bid that high and you could still sell it for that price. it is not illegal but it isn't right. you run the risk of teeing off your bidders who might just be uture customers. in my experience people who email looking to buy it right away at a certain price are doing so because it is worth much more. they do not have YOUR best interests at heart, kwim? but now i REALLY want to know what it is!!! can you pm me? please?

Jan 18th, 2007, 03:44 PM	#5
hlfinn runner in training	Re: What would you do? Demand way exceeds expectation oh and when the demand for my item exceeds my expectations i look like this then i do a little of each of these

Jan 18th, 2007, 04:41 PM	#7
Westiegirl Member	Re: What would you do? Demand way exceeds expectation Let us know what you decided and it is a great feeling when an item exceeds its expectations. I sold a pair of boots recently and expected $50 and they sold for close to $150!

Jan 18th, 2007, 04:42 PM	#8
hildav Member	Re: What would you do? Demand way exceeds expectation ooo that is a toughie. If someone is willing to pay more then why not put a bid in? Good luck! Hilda:)

Jan 18th, 2007, 04:49 PM	#9
kalodie1 Member	Re: What would you do? Demand way exceeds expectation A tough call for sure. I would check the completed listings of a similar item to yours to see what it sold for. If the deal is actually great and very profitable for you and will most likely be substantially more than the final auction price then I would probably sell it for the offered price. Ethical, not really. Practical, very. I am sure many, many sellers do this and I have actually offered someone a large amount for something I really wanted recently and they accepted. Worked out for both of us. Be sure this offer is from a reputable ebayer and check not only their feedback score but their actual feedback comments as well. Sometimes those comments are very telling. Good luck!

Jan 18th, 2007, 04:53 PM	#10
primeraclase Member	Re: What would you do? Demand way exceeds expectation Agreed, I sold a Chanel bag that SWMBO bought three-four years ago off eBay for $200 or so. I expected $100... and got $350. I'd never end early with that much interest on an item that's rare and in demand unless the offer is just way over the top and you're sure the buyer is rock solid. For every person that contacts you, there's likely 5 more watching that haven't, and another 15 who aren't officially 'watching' but have seen the item. I have had cases where I've passed on BIN offers and ended up with less, but never by much. Those times are offset 10x by the times I turned down offers and got far more than I thought I would. With a motivated buyer, anything is possible. As for ethics, I don't see it as unethical at all. Nothing prevents another bidder from making the same offer! I simply don't bargain and I never mention a BIN. The way I handle is to tell the bidder that I don't have a number in mind but am open to offers. If the offer they make is acceptable, I will. If not, I tell them I'd prefer to let the auction run and that they may be able to get the item for less by bidding and thank them for their interest. Last edited by primeraclase; Jan 18th, 2007 at 05:03 PM.

Jan 18th, 2007, 04:56 PM	#11
Miss Sooky Member Location: Curled up with a book	Re: What would you do? Demand way exceeds expectation You have all been really helpful (again - you're creating a precedent here you know!). I have just emailed the prospective buyer to thank her for her offer but explain that I have decided to let the auction run, but I hope she'll continue to watch as she may end up with a bargain . . .Of course, I hope that last bit is wrong! I think it was the right thing to do though, but I'll let you know if I am regretting this decision in 48 hours time!

Jan 18th, 2007, 05:50 PM	#12
lorihmatthews Persian Love Location: San Francisco	Re: What would you do? Demand way exceeds expectation I had this happen to me right before xmas -- a bidder wanted to do a buy it now on a brand new high end handbag, and I had to refuse him at least 3 times. After the 3rd time I said no (I know, I shouldn't have kept the email chain going on that long), he got incredibly abusive, called me names, said he hoped I got screwed on my auction and other nasty things. So ... it only reinforced the fact that I don't end auctions early.

Jan 18th, 2007, 05:55 PM	#13
dcgal Member	Re: What would you do? Demand way exceeds expectation This all sounds very exciting Miss Sooky! If you have that many watchers, you can bet that there will be a flurry of bids right at the end of the auction - so don't worry even if the price is still relatively low ten minutes before the end. Even I don't bid until the end of an auction now, in the hope that I won't drive the price up too high in the meantime (never works!). I'm dying to hear how you get on - keep us updated! Dcgal

Jan 18th, 2007, 06:08 PM	#14
susan-eric Member	Re: What would you do? Demand way exceeds expectation The things about most watchers though is that they don't bid. Some do, but many are hoping to sell similar items and want to see what you'll get and some are just watching for curiosity. I once had 38 watchers on a handbag and it sold at the beginning bid, i.e., one person bidding and 37 just watching.

Jan 18th, 2007, 06:20 PM	#15
siworae I ♥ Hyun Bin Location: 612/952	Re: What would you do? Demand way exceeds expectation ^ i agree. i once had 20 watchers on a wallet i was selling... in the end the auction only had 4 bidders. it went exactly up to the reserve price, but i was hoping it would sell for a bit more. __________________ My Collection 성시경: 6집 여기 내 맘 속에/ Sung Si Kyung Vol. 6 *"안녕 나의 사랑..."*