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#355708 Thu Sep 13 2012 08:32 PM
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I very seldom purchase anything on ebay. However, I see that more and more that items have a "buy it now" price. It seems as though these prices are extremely high for what the item is. It seems the ones posting those prices really don't have an idea of what the item is worth or maybe they are just putting a price out there hoping someone will bite. Am I right or wrong.

Please use For Sale forums to sell

Please - NO offers to Buy or Sell in this forum category

Statements such as, "I'm thinking about selling this." are considered an offer to sell.
mancave1 #355709 Thu Sep 13 2012 08:34 PM
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or make a offer- there advertising it- what they end up doing with it?.. cool


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I have between 2000 & 2500 items running on Ebay at any given time, all are Buy It Now. Sold over $76,000 worth of stuff on ebay last year, and this year it looks like it will hit $100,000.

Nothing wrong with BIN as long as the price is right.

Jack Sim


Author, 1st & 2nd editions of Gas Pump ID book, 3rd edition is now available at www.gaspumpbible.com
Air Meter ID book also available
Jack Sim #355730 Thu Sep 13 2012 11:07 PM
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Mancave1, you are right in your assumption. Some sellers post unrealistic Buy It Now prices in the hopes of "surfing for a sucker". Or at the very least, as already stated it opens the door for negotiations.


Dave GILL,
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I put a price on my items, but I do not negotiate. One report of this to Ebay and you are out, can't take that chance when my sales are as high as they are.

As most of you know, most of my sales are ECO parts. I also purchase a lot of ECO parts on Ebay. I like the BIN, if the price is right I buy it, if not, I just move on.

Jack


Author, 1st & 2nd editions of Gas Pump ID book, 3rd edition is now available at www.gaspumpbible.com
Air Meter ID book also available
Jack Sim #355746 Fri Sep 14 2012 04:13 AM
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I agree that "Buy it now" prices are astromonical. The item never sells and keeps getting relisted.

mancave1 #355747 Fri Sep 14 2012 04:15 AM
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As an eBay seller/buyer I actually think the number of buy it now auctions is fewer than it use to be if you remove the "storefront" listings. People are getting tired of the extra fees and want to save a few cents on listings (this applies to non-storefront items)

I have 2 items up there right now, both have BINs. The theory behind BINs is to get a buyer to purchase the item immediately, however some people think it's a "get rich quick" button and tend to use it to snag unwary & uninformed buyers who have no idea of value.

Personally I price my BINs based on prior eBay sales (if available) and how much I have invested in the item. If I have $5 in an item that sells regularly for $300 I may price it below that amount in the BIN to make quick cash from savvy buyers who know the value. On the other hand I may price the BIN based on condition/rarity of an item that is never/seldom seen on eBay. However I spend a good deal of time researching items and have a sense of value before I price them.

Originally Posted By: mancave1
I very seldom purchase anything on ebay. However, I see that more and more that items have a "buy it now" price. It seems as though these prices are extremely high for what the item is. It seems the ones posting those prices really don't have an idea of what the item is worth or maybe they are just putting a price out there hoping someone will bite. Am I right or wrong.




Collecting anything keeps you young at heart!
Stu K. #355750 Fri Sep 14 2012 04:20 AM
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Originally Posted By: Stu K.
I agree that "Buy it now" prices are astromonical. The item never sells and keeps getting relisted.


You are forgetting that eBay isn't a no reserve auction house(though the seller may choose to sell without reserve on eBay). I have had items I've re-listed multiple times because bidders just weren't out there even for items that 3 weeks before were selling like hotcakes. And on the listing where they do sell the Buy it now may be beat or may drop off due to reserves being met.




Collecting anything keeps you young at heart!
Jack Sim #355751 Fri Sep 14 2012 04:26 AM
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Originally Posted By: Jack Sim
I put a price on my items, but I do not negotiate. One report of this to Ebay and you are out, can't take that chance when my sales are as high as they are.

As most of you know, most of my sales are ECO parts. I also purchase a lot of ECO parts on Ebay. I like the BIN, if the price is right I buy it, if not, I just move on.

Jack


I have bought items with BINs many times because the price is fair. But I've also placed bids on items with BINS when I feel the BIN is high.

I do agree that there are some of those Buy It Now prices that are stupid high, and normally they have a reserve near that BIN anyway so any bid I might make is useless.




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The problem is many people find these poor condition items look it up on google and price it in the same range as a 8-9 condition item. Looking at realized auction prices makes these people think they have the most valuable item even though 75 percent of the time its not worth 1/4 of what they are asking. Sooner or later these people will realize their asking price in urealistic. You also have to take into consideration that many of these uneducated people may have paid too much for an item and looking to get their money back. If you dont like the price dont buy it. Many people are deep sea fishing on the ebay market looking for a sucker.


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57tbirdkid #355757 Fri Sep 14 2012 04:41 AM
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there are many that won't buy an item unless it is BIN, a lot of people just don't have the time or patience to wait and WANT IT NOW regardless of the price.
I once ran an item that had a lot of views but bidding only got to $250. on my $500. reserve. 2 weeks later I relisted the same item with a BIN of $2500. and it sold within a few hours.


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57tbirdkid #355786 Fri Sep 14 2012 07:13 AM
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I think that's rather a narrow view.

Sure there may be some who fall into that description, but I do not believe it to be the norm. They don't have to Google, they can look at completed eBay auctions for similar condition and price accordingly.

Locally I hear complaints from people who think eBay ruined local markets because it drove down prices for nominal condition items while on the other hand being freely accessible so that anyone with half a brain can look to see what someone is willing to pay for an item they thought had no value. And when a local buyer wants the item it's no longer a few bucks but priced based on what others have sold for to someone somewhere in the world.

In one venue, let say Rochester NY, you can find all kinds of Kodak Brownie cameras and they sell cheap because it's plentiful, but on eBay someone in London UK, can't buy a brownie for $10 so they pay $50. By your assertion they are overpaying, but to them it is reasonable. And they may not care that it's non-functional because all they're gonna do is set it on a shelf as a decorative item.

Bashing Buy It Now sellers on eBay is silly. I've gone to plenty of shows where I can point to just as many dealers who overprice(in my opinion) items. Ask $1200 for 36" Coke buttons available for 1/2 that much. Pricing a totally derelict visible for $800 when all that's left that's salvageable are internal piping. C7 condition gas signs for C9 prices, etc,. And I'm sure everyone who buys/sells all the time has paid more than something was worth to someone else.







Originally Posted By: 57tbirdkid
The problem is many people find these poor condition items look it up on google and price it in the same range as a 8-9 condition item. Looking at realized auction prices makes these people think they have the most valuable item even though 75 percent of the time its not worth 1/4 of what they are asking. Sooner or later these people will realize their asking price in urealistic. You also have to take into consideration that many of these uneducated people may have paid too much for an item and looking to get their money back. If you dont like the price dont buy it. Many people are deep sea fishing on the ebay market looking for a sucker.




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The fees are now very high, paypal fees are high and shipping fees are high with ebay. Many buyers just want to get there item out there even if they put or state their desired amount on the buy it now. What I think is high may be ok to some, where what I think is fair for the item and work involved might be very high for others. It seems cheaper and faster to just put things on that way so that someone will know where you are at. Imagine Amistadi's auctions that great looking stuff, if there were buy it nows on everything. Who could afford them and would they not get wrapped up in the auction mania? Many people buy with there money what they want and who is to say or call someone out because that person really wants and can afford that Item. Ebay is just offering a service that they will make money on, people want, and some buyers use. As stated before on here, If you do not want to bid or look at move on. It does bother me though I will have to say, that I do get tired of looking at the same items month after month.


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Just a couple of remarks...
High fees? Compared to local auction houses? Not really high.

9%+4.8%+listing fees(if any) is still less than local auction rates(20-30%avg across the country) plus you are guaranteed a huge potential audience of bidders/buyers versus whatever the local auction house manages to pull in.

As for shipping fees, that's due more to high fuel costs these days rather than the online auction itself. It's taking a bite out of some auction revenues for sure, but that's one reason I limit what I sell online to items where the revenue is better than 30% of local opportunities.

These are just remarks about those specific issues.




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I agree, say what you will about e-Bay. For 15% of end of auction final value, it is a pretty good deal. I personally don't sell on e-Bay and the primary reason being the lopsided feedback policies. If a buyer pays on time, you can't leave them negative feedback. There is much more involved in a sale then payment. Some buyers have made a habit of exploiting these feedback policies and extorting extra's from sellers. Second reason is packing and shipping takes a lot of effort, expense and time if you are going to do it right. Especially international shipping; I live in Canada and most items sell to American bidders.


Dave GILL,
Dave's Garage & Memorabilia, Inc.
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