EBAY Discussion Thread Part 1: Why don't you pull the trigger on the BIN?

  • Thread starter Thread starter flyerspride
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flyerspride

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Nobody likes to use the BIN it seems anymore...

I listed 60 auctions last week and got 10 takers with the BIN...

Here is the interesting statistic=>17...yes 17 of the remaining 50 auctions ended at prices higher than my original BIN.

One question...Why?
 
I think it has to do with the fact that they are willing to take the chance of getting the card at a lower price. I have experienced the same thing many times where the auction ended anywhere from $1-30 over my BIN. I have also found that often times, the first bidder isn't really serious about acquiring the card and only bid a very low amount in the hopes of nobody else seeing it and place the bid before others who are serious about purchasing the card have a chance to pull the trigger. I know for myself, if there is a Friesen card I need with a BIN within $5-10 of what I would expect to pay I do pull the trigger.
 
Agreed. Unless it's something hot, rare, or unusual... people tend to think they can get it cheaper... or are at least willing to take a chance.
 
I think that certain people take out the BIN on cards that are on the edges of their collections by opening bidding and fixing it at some number that theyu are willing to spend. That takes care of 3 things at once. First it eliminates the hard core collector that HAS to add the item to their collection at any cost. Second it also leaves their bid out there as a potential steal should the auction not get the attention it deserves. Third it takes care of the novice collector that has no idea what the BV of an item is and is an impulse buyer.

Most of the time the opeing bidder on nicer cards is not anywhere close to the final auction price - they are simply there to make a small bid and quit. I have sold more items at higher BIN's by making the opening price a little high and therefore catching the collector that just has to have it - price be ****ed. I can always relist at a lower price the second time around.

Bruce
 
suitman19 said:
I have sold more items at higher BIN's by making the opening price a little high and therefore catching the collector that just has to have it - price be ****ed. I can always relist at a lower price the second time around.
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Yup. I agree that's the way to avoid it. Have your opening bid at a fairly high starting point... which will make a "BIN Killer" think twice about putting themself on the line to buy a card they don't necessarily need/want.

The other way is to just list using a Fixed Price auction. This way, it's a permanent BIN... I had some good success using this method on eBay's recent discount listing day.
 
I don't usually buy on eBay unless it's something that I really want and need. I wish more sellers put reasonable BIN's on their auctions so I wouldn't have to wait out a seven day listing for something I'm determined to win anyway...and usually do for less than the high BIN's.

I LOVE the BIN option as long as the price is fair. I'm not concerned with nickel and diming and possibly saving myself a few dollars for high priority cards. I have no problem paying a fair price. I am concerned when the BIN price is three times high book value and the seller is just trying to take advantage of die-hard collectors.

The key to me is a reasonable BIN price. I've seen plenty of auctions where the BIN is set at a ridiculous price...I don't sell on eBay but I assume there's an additional fee for a BIN or everyone would use one. Why spend the money to add that feature if you're going to put an opening bid of 99 cents and likely lose the BIN early anyway?

I think that the majority of buyers on eBay are looking for the biggest bargain, so they would rather take the chance that the auction will be a "steal" than pay a card show or expo price. I'm the opposite...if I want it, just give me a fair price for both of us, and there's no need to drag things out in 25 cent increments over an entire week. You'll have immediate Paypal and thanks for the deal!

Renee :)
 
Depends what it is. I'm more than willing to hit BIN on stuff for my PC, even if it's well above what I'd be happy to pay. If it's just shinies for da box....well...unless it's ludicrously cheap, I'll take a chance.
 
A lot of times I don't use BIN's because I have the mentality that if I would have waited it out I would have won it for cheaper. It's bitten me in *** a few times though, most recently a 3 colour Higgins spa auto patch went up with a BIN of $100 (BV for this card). I wanted it but thought it would sell for cheaper but somebody else used the BIN and now I wish I could go back and pick it up. Anyways, to relate to this thread 2.5 times BV for the 3colour pitkanen I got off you was a little high, I would have bit on the BIN if it was around what I ended up paying for it even if it was like $5 or $10 more.
 
I rarely use the BIN unless the price is unbelievable.

Then again, I'm selective on what I buy these days, so I can usually wait out an auction and get the card(s) lower than the BIN.

-Vik
 
I stopped seling with BIN's for the same reason you just stated. Often times the auction will go much higher than I was gonna list as a BIN. Chris's Idea about the higher starting bid can assure that BIN killers don't strike, but it also scares off potential bidders. I think if you decide to sell, screw the BIN, start everything with low opening bids, and just roll the dice. It's more fun that way. Mike
 
MGiuseffi1969 said:
I stopped seling with BIN's for the same reason you just stated. Often times the auction will go much higher than I was gonna list as a BIN. Chris's Idea about the higher starting bid can assure that BIN killers don't strike, but it also scares off potential bidders. I think if you decide to sell, screw the BIN, start everything with low opening bids, and just roll the dice. It's more fun that way. Mike
Click to expand...

I dont use BIN anymore. I just put my stuff up starting at 0.99.
 
I love BINs, but sometimes I kill 'em just so someone else can't use the BIN. For instance, there was a Rob Blake that was listed recently at a BIN that was about 40% lower than what I had just paid for the same card. I killed the BIN, because I hate to see the other Blake collectors that drove the price up on me get a better deal than I did. What ended up happening is the card sold for almost exactly what I paid for mine.
 
sparkly7575 said:
Why spend the money to add that feature if you're going to put an opening bid of 99 cents and likely lose the BIN early anyway?
Click to expand...

At only 5 cents, it's worth a shot at getting that instantaneous sale at a price that you'd be satisfied with.
 
If its something for the PC that might not come up for months, or an unbelievable bargain I hit the BIN. Otherwise, Im more apt to open the bidding and let fate dictate the outcome. Either fate or Mtower5
 
I do not use BIN when I list cards very often unless I am offering a deal, simply because it is human nature to compete. What I mean is that by using a low starting bid, people keep bumping it as they catch the fever. IE I place a Crosby H&P card on a couple of weeks ago starting at .99, when it was all over and done with, I got a little over $13...the same day I purchased one online using BIN for $6...just my two cents worth
 

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