BIN vs Auction

[PGowdy]

I had a discussion on another forum a while back about how people are more willing to get involved in an action than hit a BuyItNow.
Today in my own ebay sales gave me the percect example...

I have these as a BIN at £1,10

I have the same packs up for sale as auctions which i start at .89p and a current sale has been bid up to £1.20 :roll: Don't get me wrong, i'm happy to profit from people's stupidity but the mind really does boggle.

 

[PGowdy]

Additionally, these weren't selling at all for the first month until i put them up as auctions and they're now selling like hot cakes. I run the auctions and BIN at the same time which seems to be working as both are selling.

 

[PGowdy]

And the item sold for £2.20. The exact same item i have as a BIN for £1.10.
Go figure.

 

[tiefighterboy]

Competition makes people do stupid things....yeah I won...no matter if I over paid....I beat that other son of bitch.

 

[PGowdy]

I know. Totally. It sold for double what he could have bought it from me BIN... you can't teach some folk. :roll:

 

[weasel]

:lol:

Hard not to laugh at genius like that! :roll:

 

[wertyu-2007]

it is laughable but it defo happens a lot , i buy a lot of tools on ebay i check new prices first and try to win cheaper second hand one but sometimes an auction goes over the new prices and sometime by quite a lot of money.

so you could of bought new one used it for year and sold it for more second hand , i always contact them l if i can and tell them they could of had a new one cheaper :roll: .

never happened to me though :?

 

[Oto]

Reminds me when ebay was quite new on the scene. Somebody put a £1 coin up for auction and it sold for £3 !!

 

[PGowdy]

:lol: :lol:

 

[Tank1252]

I think it's a combination of the competition thing, & also the fact that people think they're getting more of a deal than with a BIN.

 

[e30318is]

Never underestimate people's stupidity :lol:

 

[weasel]

Never underestimate people's stupidity :lol:

Ain't that the truth!

 

[tigerham]

It's a tough one Pete. I just cocked up on a MOC I was bidding on. It started at $300 start price OR $375 BIN and I knew it was an ok price but put a bid in thiking no-one had gone for the BIN yet so might as well as it gets rid of the BIN price immediately. My loss as it went for $405 so I left it. Wtf is that all about! I can only put it down to those people not seeing the auction until later when the BIN was gone. :S

 

[PGowdy]

Yeah i can see why that happened. I don't know why they remove the BIN. They never used to.

 

[Joe]

Yeah i can see why that happened. I don't know why they remove the BIN. They never used to.

We probably aren't the only ones that noticed the trend of overpaying on items during bidding (ebay bods all sitting around a table thinking "higher fee payments = more holidays for us!"

Remove the BIN - increase the chance of a higher price, increasing their stinky profit margins :evil:

 

[PGowdy]

Yep, think you hit the nail on the head there Joe.