on 01-21-2013 02:51 PM
What is the difference between a Buy It Now price and a Reserve Price or a Minimum Bid price? Is the reserve price and minimum bid price the same thing? If not, are the fees different for those two? Thanks!!!
on 01-21-2013 02:54 PM
Buy It Now means that what ever the price is set at, that is what it sells for, and the buyer doesn't have to wait or compete for it. Minimum bid price and reserve price are essentially the same, as the price can go higher but not lower for a sale. A reserve costs $2, but setting the minimum to the same price costs nothing. Many here will recommend against a reserve as it turns many buyers off.
on 01-21-2013 04:03 PM
There are two BIN numbers. One is free with your 50 free monthly listings. When someone places a bid this BIN disappears.
Fixed Price is a BIN. There is no bidding on Fixed Price listings. When you buy a Fixed Price item, you pay the Bin for it. A Fixed Price can, also, have an Or Best Offer on it. Then you can make an offer for the item. The seller can accept it or reject it. The FP option is not part of your 50 free listings. It has a fee on it.
The Reserve is a price you put on the listing as the least price you will take for the item. The item will not sell unless it reaches that price. It can go over the price and sell but not under. It costs $2 extra.
Rather than set a Reserve Price, just start your item at the lowest price you would be willing to accept for the item.
on 01-21-2013 03:21 PM
The main point of a Reserve is that no matter how many bids there are, the item won't sell unless at least one of the bids is more than the reserve. If all bids are below the reserve, the item will not sell. If one or more of the bids is over the reserve, the item will sell to the highest bidder.
A BIN has nothing to do with a reserve. If a buyer chooses the BIN price, than the auction ends at that BIN price. If there is a bid on the item, the BIN option will no longer be available (for most categories). If the highest bid is lower than the BIN price was, the item will sell for the highest bid -- not the BIN.
As suggested, most buyers don't like reserves and you would be better off starting your auction at the lowest price you are willing to accept. Good luck!
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