Buy It Now Question

cafenervosa_2

I was just wondering on peoples opinions and experiences of using 'Buy It Now' rather than the standard auction. I have around 9 items of the same thing which I thought I would make a good profit on using single auctions but i've found the bids have really slowed down. So much so that I now don't want to list them because theres a very good chance I will lose money on them. I had a close call with the first one that I listed and the second one I lost a couple of quid

The only thing that puts me off from buy it now is the crippling listing fee's. It will cost me something like £2 just to list 1 auction with the option to purchase 9 of the same thing.

Do you think the Buy It Now option is the best way to go because its like if I don't make any sales then I will be losing a couple of quid straightaway.

I should say that I had some great success with buy it now when it was 5p listings day, it was easy to list then as there was no large initial fee.

soolin

As long as you don't just put a BIN price on a standard auction then there shouldn't be much diffference between a BIN fee and an auction fee.

I have noticed that some people double their fees by not listing as a BIN only and selling as an auction with the same BIN price. There was a whole load of memory cards I was looking at last week, had a starting price of £9.99 and a BIN price of £9.99 which was an awfully expensive way to list. They would have saved listing fees by making it BIN only.

I use BIN sometimes where I have multiple items as it is cheaper than listing each item individually. It would really depend though on where you set your BIN. Keep an eye on closing prices of similiar items and put a BIN price a fraction below the average selling price.

Soo

stavros_2

I agree with soo and I usually list multiple items as BIN's if only because if I put 3 of the same things up for auction they would be in competition with eachother and hence could get a lower final value. It's usually pretty easy to guess how much people will pay for an item by looking at past auctions

carlachloe

I have tried selling with buy it now and find it gets you nowhere. I have also found the higher you put the start price the less interest you seem to get. I was a bit dubious at first by putting in a low start price in case it went too low and it lost money but it worked better than when I had put it in previously at a higher price. So no I wouldnt recommend buy it now as nobody seems to buy at buy it now. It probably just depends on what you are buying obviously but I think that people enjoy the thrill of winning the auction and unless they really need it they tend not to use the buy it now option. This is obviously just my opinion, hope this has helped you.