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Old 07-28-2011, 09:56 PM   #1 (permalink)
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Default Excessive BIN

Now, since I'm fairly new to these boards, I have been reading up that some people tend to put high (sometimes excessive) BIN prices with a "best offer" option. What is the point of this?

I'm not knocking anyone who does it. I'm simply wondering why this process is done. Why not just setup a regular auction and let the bidding wars drive the price?

Simply curious.
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Old 07-28-2011, 10:07 PM   #2 (permalink)
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Alot of people love to lowball. I suppose the method behind it is by the other person "lowballing" a high price that may actually fall into the area they are looking for. Auctions are risky. Ive had stuff that should sell for $50 sell for $10 on auction before even though all the rest before it went in that range. BIN you can at least determine exactly what your going to get.
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Old 07-28-2011, 10:38 PM   #3 (permalink)
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Originally Posted by vikingfan101 View Post
Alot of people love to lowball. I suppose the method behind it is by the other person "lowballing" a high price that may actually fall into the area they are looking for. Auctions are risky. Ive had stuff that should sell for $50 sell for $10 on auction before even though all the rest before it went in that range. BIN you can at least determine exactly what your going to get.
Understood. So you take a lot of the lowball variable out of the equation.

When there's a BIN and someone submits a offer and it's accepted, can everyone see what the accepted price is?
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Old 07-28-2011, 10:40 PM   #4 (permalink)
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Originally Posted by elchako View Post
Understood. So you take a lot of the lowball variable out of the equation.

When there's a BIN and someone submits a offer and it's accepted, can everyone see what the accepted price is?
Yes, the final sale price of the item is revealed.
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Old 07-28-2011, 10:53 PM   #5 (permalink)
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Originally Posted by Bucklion View Post
Yes, the final sale price of the item is revealed.
Okay cool. Thanks for the info, guys!
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Old 07-28-2011, 11:17 PM   #6 (permalink)
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I use BIN/BO listings almost exclusively using 7 or 5 day auctions for things that are brand new product wise or that there is only a few of on eBay in hopes of creating a bidding war. For me it depends on what the card is, if some have sold on eBay recently I will set the BIN right around the completed listings + a few dollars higher and include free shipping. If it's something where none have ended recently at auction I always go for a higher BIN hoping someone will want it bad enough to hit the BIN but I also set the auto decline to the lowest that I would take for the card and then I will consider everything in between the BIN and the auto decline. For me it really depends on what the card is.
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Old 07-29-2011, 09:08 AM   #7 (permalink)
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I use BIN/BO listings almost exclusively using 7 or 5 day auctions for things that are brand new product wise or that there is only a few of on eBay in hopes of creating a bidding war. For me it depends on what the card is, if some have sold on eBay recently I will set the BIN right around the completed listings + a few dollars higher and include free shipping. If it's something where none have ended recently at auction I always go for a higher BIN hoping someone will want it bad enough to hit the BIN but I also set the auto decline to the lowest that I would take for the card and then I will consider everything in between the BIN and the auto decline. For me it really depends on what the card is.
That sounds like a solid system. I didn't realize there was an auto-decline option. So that's pretty neat. Saves the time weeding out the idiots.

Now when you say items that have recently sold, you're referring to the items listed within the Completed Listings section, right? That's as far back of a history as eBay allows you to see, right?
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Old 07-29-2011, 09:29 AM   #8 (permalink)
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I think completed items reaches back 30 days. But there are other means for finding completed prices, sometimes these services are pay-to-play though.
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Old 07-29-2011, 06:53 PM   #9 (permalink)
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I think completed items reaches back 30 days. But there are other means for finding completed prices, sometimes these services are pay-to-play though.
I thought it was 30 days also but I think it might only be two weeks out, guess I'm not sure. Terapeak or worth point are the other two services that require payment that allow you to see past the eBay completed sales window.
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Old 07-29-2011, 10:01 PM   #10 (permalink)
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If you're selling new, hot things, I would think 30 days would be plenty of history. When did '11 Platinum hit the shelves? Because there are tons of those cards for sale now. I think it was pretty recent, right?
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