Made a BIG selling mistake ... what to do?

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  1. I purchased 2 high end bags for $3,407. I put them on eBay and started the bidding for each bag at $1K. The auctions ended and they sold for less than what I paid for them by almost $500 (not counting eBay listing fees which will be rather high). I was really stupid for not putting a reserve on them.

    I haven't contacted the winning bidder yet. All I know is that I can't afford to lose $500 now. I'm still within the return period for these bags so I was just going to take them back to the store if they didn't sell.

    Of course, if the buyer gets pissed she will definitely neg me. But like I said, I can't afford to lose the $500 I'm shorting myself. Any suggestions?
  2. tell her what happened and that you won't be able to complete the sale. you'll get a negative, but that's how it is. I would do the same thing, it sucks, but you sell on eBay to make money, not lose it

    hopefully you learned your lesson and will use reserve from now on. another tip, when I find a good deal at a store, I buy it, bring it home, and then see what others are selling for. if its not enough for me to make a profit, I take the bag back and never even list it. use to calculate how much money you'll make after all of the fees from ebay and paypal
  3. ^ agreed.

    BUT, I'd be a pretty pissed buyer if the seller decided not to sell. Sellers get angry if buyers don't pay. It's the same scenario.

    eBay has guidleines for things like this. When you list an item, you enter a contract to sell at the high bid, unless you put a reserve on it.

    I personlly think it would be quite wrong not to follow through with the sale. Granted it's an expensive lesson to learn, but it's just not right. Mistakes can sometimes cost you $$$.
  4. If your auction winners pay as agreed, you are obligated to send the items won. Think of how you would feel if you were happy with the winning bid but the buyer refused to pay. I think the consequences of not completing the sale include more than a negative. Non Performing Seller comes to mind. We complain how Ebay has lost a great deal of its integrity and we must follow the rules listed as buyers and as sellers. We must give as well as we expect to receive. I've won items that I later found at better prices elsewhere but I had an obligation to pay for my auctions won. I doubt if those sellers would have appreciated getting an Email from me saying "Sorry, I'm not going to pay for this because I found a better deal."
  5. I agree with this.
    I never list an item for less than I want to make.
    If I start a bidding low/no reserve in an effort to draw in more bidders, I do so with the knowledge and ACCEPTANCE that I may lose out by taking that route.

    If you didn't like where it was headed, you would have been in your right to cancel the bids and end it early with a "no longer available for sale" (also cheating though) but being that you let the auction run it's course to the end, I think the right thing to do would be to complete the transaction.
  6. I agree with everyone on here. You definently should stick with the sale. :smile:
  7. You entered into a contract to sell the bags to the highest bidder. Now is not the time to decide you made a mistake. Not only will you get neg feedback, but I bet ebay suspends you. We have all made errors similar to that and have lost money. Why didnt you just return the bags in the first place? If you return the bags you will be out listing and final value fees as well.
  8. I have no suggestions, but you have my sympathy! I think all of us that sell on eBay take losses & make mistakes, but it's only up to you where you go from here.
  9. Yes, I tried to end the auction early, and I also tried to put a reserve on the auctions. But I was unable to do so because there were bids and less than 12 hours to go.
  10. Wow, I was looking for support, not to be personally attacked.

    I am a good, honest seller and this was definitely not intentional.
  11. Lori,

    If you don't sell them, then the bidder can report you as a non-performing seller. You might want to look into the repercussions of that.

    Sorry to hear about it.
  12. Ultimately, it is your choice what to do. You can hope you have understanding buyers (you never know, they may be second-guessing their purchase) and ask them not to complete the sale. If they don't understand, you'll have to deal with whatever marks ebay places on your account.

    I would probably take the hit and make the sale because it is, in my opinion, the right thing to do (I took a similar hit myself in the past and BOY I could not afford it) but if it's a choice between not eating / not being able to feed your kids / not keeping lights on or going through with the sale, I say forget the sale - do what you have to do and just be more careful in the future.
  13. It's a tough situation. I would not want to lose money either. Contact the buyers and try to come to an agreement. Hopefully they might be feeling buyer's remorse and not go through with the transaction. I wish I had better advise. Good luck!
  14. Sorry about that Lori!!

    I have no advice, just a story:

    The same thing happened to me in reverse: I bought a bag and the seller contacted me to say that she would make more money returning it than selling to me at a loss (she expected the bids to go higher too).

    I was devasted!! It was my first major handbag purchase and I was ssoooo excited to win it. When she refunded my money I was beside myself.

    I reported her and left her a neg: she retaliated with a neg to me too.

    Ultimately I suspect the negs never really hurt either of us. But boy, the disappointed is still here too :shame:
  15. I really don't think that anyone is attacking you. You asked what you should do and I think everyone is giving you their honest opinion. I know it sucks but I agree that the right thing to do is to complete the sale.
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