Is it better NOT to have a BIN option?

beauxgoris

beauxgoris

O.G.
Mar 17, 2006
14,976
387
#1
Just wondering how people feel about BIN's? Do your auctions do better if you don't have one? i.e. does it scare off bidders since they know that at any point the item could be "taken away"?

Thanks for your imput.

:flowers:
 
#3
^^So you think it's more appealing (as a buyer) to see an item with a BIN? I'm just worried that if the BIN and the reserve price are close'ish - that it might set people off if they know how much I hope to get.

You know how sometimes you bid more (than you originally plan to) if you're in contention with another bidder - but if you know how high the seller hopes the item will go you just stay away... I'm not sure I'm making sense. But hopefully you'll get my drift.
 
#4
Sometimes I just do a BIN if I want to get rid of the item and put it at a price that isn't exactly what I want, but enough that I will be satisfied with the money. I usually don't do a BIN and an auction, but sometimes I do - it just depends on how popular the item is.
 
#5
for me its half half...if there's something i really want..i would much prefer it to have a bin esp if the starting price doesnt differ much with the BIN price

other times i dont like BINS when i think i could probably get the item lower than that...and yes there is the fear that someone might use it at any moment :smile:

like a chloe bag i was eyeing....argh
 
#6
^^But then would that make you bid? i.e. You want to get it before someone else hits the button.

If it helps at all: the item(s) I would be selling are new designer items that have already sold out for the season - I'm hoping to get retail (or what I paid) so nothing crazy.
 
#7
Don't use a reserve. set the starting price at the lowest you're willing to let the item go for, and the BIN at what you feel would be an acceptable margin above that.

I personally prefer BIN especially if it's something I want, and I see lots of sellers w/ BIN just slightly more than the auctions start price.
 
#10
If the BIN is outrageous, it puts me off of the auction completely. I've heard that reserves makes people run as well. I just start my auctions off at the price that I can live with if it sells there. I've also had good luck with asking sellers if they'll offer a BIN if they don't have it.
 
#11
My strategy depends on how popular is the item I am selling. If it's something rare or extremely popular (gets a lot of bids), BIN could make someone anxious to buy it just bid the higher price in order to win it for sure or have it right away. If the item is 'nice to have', people normally just place a bid or use sniping tools, so BIN is useless.
 
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