Auction running, have been asked for BIN price

kalsha

I have an auction running - finishing in 4 days time. Starting price is £2 and has one bid on it. That bidder has asked for a BIN price as she is in a hurry. Normally when asked about BINs I always reply that I want to auction to run it's course. This time, I am thinking of getting rid of the item fast but not sure how to add a BIN at this stage. The last time I tried to add a BIN, I wasn't successful as I was being asked to put a figure a certain percentage higher than the bid so I had left it.
So, this time if the item is at £2, what should my BIN price be? And I guess I will be charged BIN fee as well which should be included in the price.
What is the best way to go about this? So far only 2 watchers and 60 or so lookins.

campdave

kalsha wrote: »

So, this time if the item is at £2, what should my BIN price be? And I guess I will be charged BIN fee as well which should be included in the price.

When we don't know anything about the item, how are we supposed to suggest a price.

Suggest the best price you want for the item and see what they say.

soolin

he BIN price needs to be 40 % higher than the start price , however, you cannot add a BIN now that you have a bid.

kalsha

Thanks Soolin, that explains why I couldn't add BIN the last time I tried. In a way it is good that I can't cancel now, having a bid on it - just want to keep things simple and not make them complicated!

Kamaya

Here you go, there is a way around it...

What if a member offers you a "Buy It Now" price?

You can't add a Buy It Now price once the auction has started.
If a member contacts you to ask you to accept a final price for your item, it's against eBay rules to end the listing then sell the item to them directly. See Transactions Outside eBay.



However, you are permitted to end a listing early and sell the item to the high bidder (via the eBay website). Ask the member to place a bid at the amount they offered to you, then go to the End My Listing Early form and select "Sell to the high bidder".

soolin

Kamaya wrote: »

Here you go, there is a way around it...

Only works if there is an existing bid in that meets want you want to sell at, which rather defeats the object as why would you end early if you knew you had 2 buyers both willing to pay a higher amount?

As it stands in the OP, if the existing bid is the exact bid that the first bidder has put in at £2 and the new buyer bids even say £10, the highest bid will only show as £2.20 (I think that is the correct increment) and if OP ends listing early it will sell at £2.20.

VictorCharlie

Just let the auction run its course as it should and either ignore the offer or tell them all they can do is place a bid like everyone else.

kalsha

VictorCharlie wrote: »

Just let the auction run its course as it should and either ignore the offer or tell them all they can do is place a bid like everyone else.

Yes, decided to do just that. Last week I had something listed for £1, I was asked to offer it at a BIN price and I would have settled for £4-5. Glad that I let it run to the end and it fetched £20!