when should you list a BIN and when for a bid?

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  1. I'm trying to sell two of my bags on ebay, and I'm hoping to get them listed by next weekend. One is Cole Haan and it's more important that I get that one sold, but I'm not sure if I want to list a BIN price or start the bidding around the price I'm hoping to get, or if I should just list it really low and have people bid it up?

    This is my first time selling a bag myself on ebay, but I've done a lot of observing over the years ( what you should and shouldn't do) and spent a lot of time on this SF, so I have a pretty good idea of how to go about it all. I was just a little worried that if I start the bidding really low, that somehow it won't make it up to what I paid, and I WILL lose money, and the whole reason I'm selling them is to have extra money for family xmas gifts, so that kind of loss would be really hard to deal with.
    for neither of them did I pay over 200 for, but I still REALLY want to get what I paid. They're both in pristine used condition, and I've only had them for 3 months and used them twice.

    thanks so much for the help!
     
  2. You could list your item with a reserve price, that way you would get the minimum that you need to sell your item. I only do BIN's to get the price that I want. The downside is that BIN's sometimes take longer to sell.
     
  3. I honestly dont get listings with a reserve price...why not just list an item at an appropriate starting price ? isnt it the same?
     
  4. ^^Plenty of buyers search by lowest price first not to mention that since the reserve price is unknown, people tend to bid low and work up. It generates interest and therefore comes at a price for the seller.
     
  5. I was actually just about to start this exact thread. Since my question is the same, with an additional caveat, do you mind OP if I tack on here? If so, I'll start my own thread (but the Mods hate duplicate threads on the same topic/question).

    Basically, I'm in the same shoes as OP, first time bag seller. But I'm not as worried about time and getting max money as I am about potential scams. My bag is far far more expensive and a harder to find item in the size I'm selling. I understand with BIN I can leave it on for a long time (which may be needed because of the price point and the rareness) but I feel BIN leaves one open to scams because you can't cancel a bid. How do you sell your more expensive bags?

    Thanks all and to OP for opening the topic. Let me know if you'd like me to branch off onto my own thread.
     
  6. I hate reserve auctions, especially when I write sellers and they refuse to tell me what the reserve is! I think if you want a certain price for your item, start the bidding at that price.
     
  7. Are you elegible for free listing? If so, I would list them as an auction at around the price I want to get. Also, consider ebay and PP fees when you set up your listing price.
     
  8. NO, I don't mind at all!!!! :smile: really, ask anything you want under my thread! the more info, the better!
    it's really funny you wanted to ask the very same thing. Since yours is rare and much more expensive, I would think it might be better to start it out with a BIN and just take the chance that it might not sell. I'm still a little worried myself about setting a low reserve, but I think I'm gonna end up doing it that way. Then again, I'm not aware of ALL scams, but I have heard about a few on here.
    I'm trying not to let the fact that something could go wrong bother me...
     
  9. Thank you! You're very kind! Yeah, I'm considering the BIN but really because I think it needs to be on the site longer than the time allotted with auction. I might do BIN or BO. Ideally I'd do auction because I could control who could bid on the bag and the fvf would be less. Ebay fees make me nauseous. I'm also considering Bag Bonanza but since I've never bought or sold there, I'm not sure any buyer would trust to buy from me.

    As far as scams go, here are the steps I'm taking to reduce them (though may not be appropriate for you since your bags are going for less, but maybe it will help?):

    1. First, having my bag authenticated by Carol Diva and stating it in the listing.
    2. Having my bag also authenticated by TPF (if they are willing.. I know some threads won't authenticate for sellers) and/or directing the buyer to do so.
    3. Watermarking my photos as well as putting a handwritten sign in the photo with my ebay ID (so the buyer knows they are actually my photos and not stolen from someone else without having to do research).
    4. Adding a serial numbered security strap.
    5. Making sure my blocked bidder list is up to date.
    6. Sending only to confirmed PayPal address (no exception)
    7. Selling only in US (which limits the market but...)

    Nothing will protect you definitively from being scammed, but it helps. Maybe some of this advice will help you?
     
  10. sure thing!!!
    some of them are probably more appropriate for you like you said, because your bag is more expensive, therefore you have to take more precautions, but I definitely need to watermark my photos, because that drives me nuts seeing one seller using another sellers pictures... awful. And I'll do the selling only in the US thing as well. THANK you! I'll keep all these in mind as I make the listing.
     
  11. The market seems really slow right now and I wouldn't count on sellng a used bag for exactly what I paid for it. Sometimes this happens though and it's great but sometimes not.
     
  12. If you got a good deal on the bags and they are desireable brands, then I'd think you could sell them for a good price. What I would do is research how that brand has been selling by looking at the completed auctions, to see if your desired price is even feasible. If it is, then think about what the lowest is that you'd want to sell it for. So for me, if I bought a bag for about $200 and used it a few times, then I'd be ok letting go of it for maybe $150. I'd then list it auction-style for $150 (right now eBay is letting you list for free, which is a great deal for higher priced items). I'd time it so the listing ended in the evening (6-9 pm) on Sunday (you can pay 10 cents to schedule this and I think it's totally worth it). If you end up with no bids, then see how many views/watchers you got. If you had a lot of watchers and no bids, I would immediately relist (perhaps for like $10 less or so), because many of those watchers will re-watch your item (shows up in their watch list as relisted) and probably bid the second time around. I know sometimes I either forget to bid on an item, so if it gets relisted I'll be more vigilent about bidding, or just the extra temptation of seeing it in my watch list for another week (especially if the price went down a few dollars) will make me spring for it the second time around.
    Oh also, I wouldn't start your price too low (or set a reserve), especially if you're a newer seller. If you start too low, people tend to not take your auction as seriously, or think that you're a scammer. Unless the item is very very hot, it may sell for hundreds less than you'd like.
     
  13. If it's your first time selling, you should probably be eligible for the free listing, which is good. In bad news, bags are slllllloooooowwww to sell right now, so you may wind up relisting a few times.

    To echo what others have said, start at what you want to get for it, or slightly below, calculating in the significant amount of Ebay/PayPal fee (I'd guess about 18% total.) Include LOTS of pictures. DO say how much it's been used, and describe even the smallest flaws. You'll get the most competent bidders (and most likely to pay) that way, in my experience.

    I recommend NOT using a reserve. I avoid bidding on auctions with reserves. If you're getting free listings, it's not cheaper anyway.

    Lastly, use calculated shipping rather than flat rate. It will encourage buyers close to you to take a second look at your item, since it will show a low shipping rate compared to others.

    Good luck!
     
  14. Reserves do turn some people off so I would not recommend a reserve. Auctions have worked well enough for me - although I have never had enough nerve to start the bidding at a really low price. I start the bidding at the minimum I hope to get.

    Recently I had a bag listed for sale as an auction three times. I had tons of watchers and lots of questions but no bids. I finally relisted it as a BIN with a "best offer" option and it ended up selling just for just slightly less than my auction minimum within 24 hours.
     
  15. my problem is that it's my dad's account I'll be using ( and it's perfectly ok with him to let me sell it on his) and he's a top seller with really good feedback, so that won't be a problem, but I definitely won't get a free listing :sad:

    and I don't have a lot of money right now, and really having to watch it so it's gonna be hard to pay for a lot of pics and things.

    does that change what ya'll think I should do? should I still start the bidding price at the minimum I'm willing to sell it for?

    My dad has told me he's sold a lot of pretty expensive things by starting the auction out at like $10 and letting bidders bid it up, but it's just a little too risky for me and my bags. I mean, I REALLY want to get what I paid for them or at least most of what I paid, and if bags are slow selling at this point, I don't want to end up with someone taking it for 40 dollars or something. Nothing would tick me off more...