on 04-16-2011 07:41 PM
on 01-21-2014 10:38 AM
This policy can hurt sellers. Say I list something with a reserve of $150 and a BIN of $210. Then if someone hits my reserve at $150, my BIN disappears. Then another person comes along and wants the item bad enough to pay the $210, but the eBay policy now prevents this. So now I must let the auction continue. If the auction ends with no more bids, I end up selling for the $150. The ebay policy just cost me $60. If it's my auction and I put the BIN in place, shouldn't I be allowed to sell to someone at the BIN at any time? And shouldn't I be allowed to remove the BIN at any time? And if the auction reaches the BIN, then the item would just sell for that amount and I'd be happy, even if there was the possibility that the auction price might have gone higher.
on 07-05-2012 08:58 AM
I do not like this policy.
Example: I set my BIN price at $850 and start the bidding at $100, I get bids right away since I know the value of my item is around $700.
I know it is unlikley that the bids will go over $700 but if it gets close, someone may hit the BIN price to secure the purchase.
Additionally making the BIN price a reasonable amount above what you expect to sell it for gives bidders confidence they are getting a good deal in that price range.
on 09-10-2013 08:10 AM
It's not really fair to bidders or the seller if the bidding starts heating up and someone just snags the item. Why even bother bidding? The whole concept of an auction versus a Buy It Now is that the buyer wants the lowest price they can get and the best price wins. That is completely shut down if the Buy It Now remains in place.
A lot of people who look at auctions don't want to put a bid in right away so they "watch" the item. Most "watchers" lose track of the auction. If you want to have you item sell, which is the purpose of an auciton (as opposed to a Buy It Now option that you can sit on until it sells), having a Buy It Now option that disappears when the first bid is made, is a good way for an experienced seller to encourage an early bid. The idea is that the bidder wants the item and doesn't want to snag something from them, so they put in a bid to shut that option down.
I've had auctions where the item went high above the Buy It Now price that I set for it. That wouldn't have been possible if the Buy It Now option was left open. I would never set your starting price for under what you are willing to part with it for or make a profit from. That way, if you can get one bid, the auciton was worth while. I would also recommend doing a search before posting to see how much others are listing what you want to sell so you can set your price to move it.
on 04-16-2011 07:45 PM
on 02-13-2012 08:29 AM
This did not used to be the case - in the old days it used to stay until the auction was over or someone took a buy it now.
I wish they would revert back to the old days.
Someone places a 99 cent bid and it f$#$# it up for everyone.
on 04-17-2011 07:16 AM
on 11-19-2013 11:47 AM
Given all the above discussion it is clear there is more than one view of the psychology of bidding and the effect having a BIN that persists might have.
Why does ebay not just give us the option to choose?
Starts at 0.99
BIN Ceases at X% of BIN
If you set X = <1% BIN will disappear as soon as anyone bids (even at 0.99)
X>1 < x*100 - BIN will disappear when a bid exceeds x%
X= 100% Bin will remain, until bids reach BIN
Maths is easy - coding would be just as easy.
on 10-25-2013 09:00 AM
I disagree with most of beanlynch answer. The BIN percentage should be raised well over 50%. Maybe somewhere in the 80% to 90% range because we are talking about high priced items where 10-20% is significant, eBay made sure of this by only applying this policy to certain categories. A buyer should be able to come to eBay and secure an item if they can Buy It Now. Everyone sets their BIN at a profit, if you don't then I don't know what you're doing. But everyone will be happy at the BIN price. The seller made what they wanted and they can ship faster (that's why eBay setup the shipping cutoff time, right?), the buyer got the item they wanted (and fast), and eBay and PayPal make off like bandits with their super high cuts. Everyone is happy.
eBay has to review that percentage and increase it significantly because 50% is not right when you are talking 100's of dollars (or whatever currency in high amounts).
on 04-17-2011 08:23 AM
on 02-26-2013 04:04 PM
I agree that this is a bad policy. I'm pretty sure it wasn't always like this. This essentially makes "Buy it now" useless in an auction. Even if the seller sets the "buy it now" option at a competitive market value, there will most likely be a bidder that will underbid the item just in case he wins it on a fluke.