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Pricing mistake

Hello, my account was hacked and suspended but was cleared up and my first post in 2 years resulted in a $120 mistake. I listed the an item with a $220 price and a starting bid of $99. As fate would have it my internet went down at the same time as the auction ended and I didn't catch my mistake. I will honor the sale but what did I do wrong? Is the price not the selling price?Thanks and I'll obviously be more careful.

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Pricing mistake

When you have an auction with a buy it now, once a bid is placed the buy it now goes away and the listing continues as a regular auction.  You had a $99 start, and only one bid.

The easier you are to offend the easier you are to control.


We seem to be getting closer and closer to a situation where nobody is responsible for what they did but we are all responsible for what somebody else did. - Thomas Sowell
Message 2 of 11
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Pricing mistake


@dumdrum69 wrote:

I listed the an item with a $220 price and a starting bid of $99. As fate would have it my internet went down at the same time as the auction ended and I didn't catch my mistake. I will honor the sale but what did I do wrong? Is the price not the selling price?Thanks and I'll obviously be more careful.


If you listed an item at auction with a starting bid of $99, it will sell at $99 if only one person bids. 

 

The Buy It Now price you added to the $99 auction simply gives someone the option of buying at that price if not one else has bid on it yet. 

 

It sounds to me like you might confusing the Buy It Now price with a Reserve Price; if so that was your mistake. 

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Pricing mistake


@dumdrum69 wrote:

Hello, my account was hacked and suspended but was cleared up and my first post in 2 years resulted in a $120 mistake. I listed the an item with a $220 price and a starting bid of $99. As fate would have it my internet went down at the same time as the auction ended and I didn't catch my mistake. I will honor the sale but what did I do wrong? Is the price not the selling price?Thanks and I'll obviously be more careful.


Not sure if I would call it a mistake but maybe a misunderstanding: did you mean to set a $220 Reserve on it? If so, you would not have to sell and ship if bidding did not reach the Reserve price. I'm thinking that what you might have done instead was set a BuyItNow price of $220, but the BuyItNow price goes away when bids are received, and you got one bid at your opening price of $99. Thus your bidder won it fair and square.

 

In future, I would suggest not using a Reserve price (which can turn off some bidders who don't want to waste time trying to determine what it's set at), and just open the auction at whatever price you would accept if you only ever got one bid, and then every bid after that is gravy. 

 

Finally, if this is an item with a commonly-accepted retail price, not a one of a kind or vintage piece, then just set up the listing to be Fixed Price rather than an auction, setting whatever price you want to get for it. Avoid the Make Offer option unless you like haggling, and then you can set the Immediate Payment Required on your price, and no one can snatch it off the market without actually paying you for it first.

Message 4 of 11
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Pricing mistake

Keep in mind, if you *do* use  a reserve, I believe there is a $5 non-refundable fee, so take that into account as well.


And yes I would agree 'reserve' price auctions are a big turn off for buyers, myself included.

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Pricing mistake


@jonathankirkland wrote:

Keep in mind, if you *do* use  a reserve, I believe there is a $5 non-refundable fee, so take that into account as well.


And yes I would agree 'reserve' price auctions are a big turn off for buyers, myself included.


It's 7.5% of the reserve price, with a $5 minimum, so a $220 reserve would cost $16.50.

 

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Pricing mistake

Thanks for the info. I finally talked to an ebay agent and they said that the Buy it Now function was in fact unavailable (!) at the of my posting. I tried to use it and was denied so I thought  maybe I had to sell a few things first. I used the 'Price' option instead thinking that that was what I was supposed to do . The agent said she'd be contacting the buyer and explain the issue and I'm not sure what to expect.

Message 7 of 11
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Pricing mistake

Thanks, I'm learning a lot!

Message 8 of 11
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Pricing mistake

Thanks for the reply and being cool about it!!

Message 9 of 11
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Pricing mistake

Thanks for another insight into ebay sales.

Message 10 of 11
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Pricing mistake

Thanks,good to know!!

Message 11 of 11
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