I really don't understand Buy It Now vs. Best Offer OR I don't understand either so let's go...

[shopperclub]

So here's so far what I understand. If I put Buy It Now for an item it means that the BIN must be the first offer, right? Because as I've been told, if someone bids on the item, the BIN possibility is over. Is that right so far? 

[katzrul15]

On an auction, you can add a BIN feature.  Once an auction has bid(s), the BIN goes away, auction continues.   BIN would typically be for the ultimate price you wish to sell it for.

You can list the item fixed price, immediate payment required.  You can list it as an auction, with or without a BIN feature.  Really depends on the item.  We rarely do auctions these days.

[inhawaii]

I don't do auctions, so someone please correct me if i'm wrong, but i believe if the bidding EXCEEDS the BIN price, the BIN option goes away.  For example.

Opening bid: $50 with a BIN option for $70

If the bidding is below $70 the BIN option will remain.

If the bidding exceeds $70 the BIN option goes away.

[soh.maryl]

Not sure why anyone would actual bid more than the BIN price.

If the item is listed starting at $50 with BIN option for $70, why would I bid $80 when I could have just bought it now for $10 less?  

[nobody*s_perfect · Accepted solution]

---

@inhawaii wrote:

I don't do auctions, so someone please correct me if i'm wrong, but i believe if the bidding EXCEEDS the BIN price, the BIN option goes away.  For example.

Opening bid: $50 with a BIN option for $70

If the bidding is below $70 the BIN option will remain.

If the bidding exceeds $70 the BIN option goes away.

---

That is completely wrong.

The BIN disappears when the first bid is placed, even if that bid is for the minimum amount.

[nobody*s_perfect]

---

@shopperclub wrote:

So here's so far what I understand. If I put Buy It Now for an item it means that the BIN must be the first offer, right? Because as I've been told, if someone bids on the item, the BIN possibility is over. Is that right so far? 

---

Yes, if you put a "Buy it now" option on an auction-format listing, then it will disappear if somebody places a bid on the auction.

There are 4 categories where the BIN option  will remain available until the bidding reaches 50% of the BIN price, but of course usually the opening bid is more than that so the first bid would "kill the BIN" just as it does in the other categories.  The BIN option also remains available if the auction has an unmet Reserve.

[inhawaii]

Fixed price listings:

You can add "make offer" as an option.

You can add "immediate payment required" as an option. 

---------------------------------------------------------------

Auction listings:

You can add BIN as an option.

You can add "make offer" as an option.

You can NOT add "immediate payment required" as an option. 

--------------------------------------------------------------------

Lots of people say if you sell unique items, go with auction style.

If you sell common items, go with fixed price.

Good luck!

[nobody*s_perfect]

"Auction listings:

You can add BIN as an option.

You can add "make offer" as an option.

You can NOT add "immediate payment required" as an option. "

You can add IPR on an auction-format listing if it has a BIN option, but the IPR would apply only if somebody chooses to purchase through the BIN option.

[downunder-61]

@inhawaii  

Opening bid: $50 with a BIN option for $70

If the bidding is below $70 the BIN option will remain.

If the bidding exceeds $70 the BIN option goes away.

I don't think so, but someone correct me if I am wrong (I can only say what happens in Au)

As I remember it BIN is not a reserve. As said it is removed after the first bid is placed.

Example:

Auction listed to start at $1.99 with a BIN set at $50.00 along comes a bidder who bids $2.99  BIN disappears and if you get no further bids $2.99 bidder wins.

When listing an auction have a price in mind that you would consider your lowest and start your auction at that price. 

[katzrul15]

The BIN goes away after the 1st Bid, unless there is a reserve.  Then it does not.

BIN amount usually has to be at least 30% higher than opening Bid.

[nobody*s_perfect]

"Example:

Auction listed to start at $1.99 with a BIN set at $50.00 along comes a bidder who bids $2.99  BIN disappears and if you get no further bids $2.99 bidder wins."

Yes. And with no other bidders, he'll win it for $1.99.

[downunder-61]

Thanks, I started second guessing myself there for a minute

[katzrul15]

And don't use a reserve on ordinary auctions.

If OP has an item they wish to list, please share a little more info.  Folks here can help guide you.

[inhawaii]

@downunder-61 

@katzrul15 

@nobody*s_perfect 

Got it!

[katzrul15]

When you do not use auction format, it is easy to forget how they operate!  They really are a dying art form....