"no reserve" price question

G

Gibbs2424

O.G.
Mar 18, 2006
436
1
#1
Just a few points to clarify, please, ladies! I am going to be listing some bags and I thought I remembered reading that a good technique experienced sellers use to encourage lots of bids is to list an item with no reserve. While most people would be scared that would mean they have to sell the bag at a ridiculously low price if the bidding happens to not go high enough, I thought I had heard that you can always choose to end the auction and not sell if the price doesn't get high enough. Is that true?

But if I do list a reserve price and the bidding goes over the reserve, I cannot cancel the auction and must sell the bag to the highest bidder?

Can I list with no reserve AND also have a BIN or best offer option, and still have the freedom of ending the auction early and not selling if the price doesn't go high enough for me?

Thanks!
 
#2
Because many buyers don't bid until the end, it will be difficult to know what the final price will be. And you are obligated as a seller to sell the bag at the auction price, or you will end up with strikes against you. If you have a certain sale price in mind, below which you don't want to go, why not just start the bidding there? A lot of bidders don't like reserves and you will have disgruntled bidders if you start canceling bids and terminating auctions, but you'll be doing it blind since you won't know what the final prices would have been.
 
#3
Hi, sure you can use BIN option with best offer or BIn with reserve :smile:
but if you start from low price for ex. $ 0.99 then only one person bid it till auction close, they'll win it on $ 0.99. You are binding by contract to sell your item in that price, so horrible for me to sell my LV without BIN or reserve
Good luck
 
#4
hi. yes you can have a bin with an auction. you can also have it with a reserve auction and it won't get knocked out until someone meets the reserve. otherwise as soon as someone bids you lose the bin.

i have to say i would be really upset if the seller ended something early because they werent getting the price they wanted. if you want xxx for it then start it at that. if it doesn't sell you can always go lower.

i'm sorry but i'm not understanding why you're already thinking you won't get enough for it and will end the auction early. if you feel that way perhaps you shouldn't be selling it at all or ebay is not the place for you to sell it. it just seems like you're already coming at it the wrong way.
 
#6
thanks, ladies -- I have already sold several items on ebay and I have always done it in the way you are recommending -- setting a reserve/starting price at the lowest price I was willing to accept. I just thought I remembered reading another post on here a few months ago that talked about going with no reserve to encourage bidding. I thought I would ask about it since I have only sold 5 or 6 items or so, I guess, on ebay, and I thought maybe there were some other techniques experienced sellers use that I wasn't aware of. Thanks for your responses -- I can see that my instincts were right in the first place and I should just keep the starting price at my lowest acceptable price.
 
#7
OR you could take a chance that if it is a hot item, start the bidding low and hope for the best. A lot of people snipe at the last minute so you won't know what it would go for if you end the auction early. I really don't know any sellers that make a profit on ebay with all the fees they charge anyway. Good luck gibbs.
 
#8
My two cents: personally I'm not a fan of BIN unless it's very high. Otherwise I don't use them, because I'm always interested to see how high the auction will go.
 
#9
i would be really upset if the seller ended something early because they weren't getting the price they wanted.
Click to expand...
I'm with you hlfinn :yes:

Theres a MPRS seller who would list a Vuitton fuchsia Bedford and Dalmatian bag time and time again and would always end the auction right before it was suppose to end.
I always wait until the last minute to bid and after have the same seller do this over and over again ..I gave up. It was too frustrating and almost as if she was just "hobby listing" for the fun of it.:hysteric:
 
#10
One of the main reasons that sellers start there auctions at .99 is because of the astronomical fees to list high priced items anymore. What I would do with my high priced items is put it in my store inventory at a BIN, it is alot cheaper to do it that way if you have a store, and you can keep it in there indeffinately. If you don't have a store however, then if money is any kind of issue and keeping down fee's the lower you start it, the less the listing fees
 
#11
don't count on starting anything low and hoping it goes high, it works for some but it's never worked for me and i always end up crying because my item went for so much less than i thought. ebay is just not predictable enough to count your chickens before they hatch, kwim?
 
#12
i am having a similar dilemma with a Coach Hobo I want to sell. I really like it, and am only selling it b/c i have only used it a handful of times in the past 2 or 3 years! i want so many others that i figure i could sell this one and not miss it.
BUT, since it really is in perfect condition, i don't want it to go for $10. BUT, in the past, I have never started an auction for anything other than .99 with no reserve or buy it now option. And even though that has worked for me in the past, i don't want the method to fail on this particular item!

Does anyone know how to put a best offer button on? I can't figure that out! What is my deal?

Anyhow, to get to the point, I like the idea of starting the auction at the base price you would take, or just a tad lower, but im afraid that price will be too high and then WON"T get ANY bids!

Dilemmas dilemmas....
 
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