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Using BIN vs Auction
 

Hello,

a quick question:

I see some people sell in auction format and some sell with BUY IT NOW format

Which one should i use and why?

I like bin because i know my product will sell fast and there is less time for REPORTERS

but i see people using auction format and their final price is much higher than my bin listing.

Whats the trick to listing auctions without getting reported?

thanks!

why nobody answers this question? is this questions kind of like asking what to sell on ebay? that is why nobody cares to answer?

Soz, you had to wait for a reply.:ranger:

The BIN format needs the account to have FB, If you use the auction method, less FB is required. If you are worrying about 'reporters', then you need to be careful about what you sell.

Buy it Now = I want to sell right now. I mostly auction off cards which I dont care too much about, But if it is a hot selling item then buy it now!

In general, post #3 and #4 cover it well. I'll add that if you are selling many of the same item, listing by auction would get you less money while listing BIN moves product.

If you try listing a quantity of 50 identical items in the auction format, you won't get the same price you get when listing 1 or 5 of the same item at auction. If you have 1 unit only and you don't need to move it immediately and want to get whatever the market will bear, list auction. If you have 100 of something and need it gone by Monday morning, list BIN.

If you have 1 unit, you probably didn't get a volume discount from your supplier, thus you need a better price. If you have 50 of something, you probably got it significantly below retail, so you can BIN it for $10 under retail and still rake in a tidy profit.

Seems like it would be self-evident and not need explaining.

Not trying to rub you wrong: Don't worry so much about how much money somebody else is making. Focus on your own performance. If you are making enough profit to make you happy, why be concerned that somebody is getting a nickel more than you are? Are you selling 10 of something at $8 profit per unit netting 80 bucks while the other person is auctioning 1 or 2 at $12 profit each netting less than 25 bucks?

The answer to your question is very subjective. You'd have to compare *all* the elements involved, not just *one* factor. Since you know what your own circumstances are, before you begin your listing, choose what's right for you instead of thinking you should list in the same manner as the other guy. His tactics could screw you.

sorry if i said something i shoudnt have,

Thanks for the response vic. I think im going to try both methods and wait.

if there is something wrong that i am doing on the forum please pm me.

I can't see where you said anything you shouldn't have. Valid questions, on their face. Just because something is evident to me and others, doesn't mean it is evident to everyone. The dumbest questions are the ones that never get asked.

There was no problem. I sad 'Soz because userstealth waited for a reply'. :peace:
Sometimes questions take a bit to get answered.:tears:

Regarding OP's question, as I said in different thread, I think it really depends on the product. As I mentioned in a previous post, I sell low volume, high dollar items and I make more money from auction listings than I have from BINs.

That being said, I think it's important to note that with auction listings comes the potential to make bigger sales and increase profit margins. Over a period of time, even a few dollars extra per sale (but I'm talking about hundreds of dollars extra) really adds up and is great for your bottom line.

I haven't implemented it yet, but I'm gonna use several stealth account to list BINs of my items at high prices to create "market value" for my items and thereby creating value, and in the Buyer's minds, a greater "potential for savings" in my auction listings.

Why dont you search completed listings if youre selling the same thing these other people are , or something comparable that ends with higher bids than your BIN price? that way you could jsut list your BIN a bit lower than the average auction ends for?

have you noticed that buyers will bid way more on auctions, and they could get exact same item BIN for less? Do not understand it, the BIN is just sitting there for them to buy, no uncertainty about if they will be outbid. I do both BIN and auction format and 7/10, I get way more for same product.......strange buyer psyche

For high-end items, "Buy it now or Best offer" listing is the best way to go. Trust me.

The problem I have with BIN is that people just put the item on their watchlist, and never buy it. When I list as an auction, it ALWAYS sells, and I can send out second chance offers. Guess it depends on the item.

You are a genius. I can't believe I've never thought about this before