Buy it now V auction, can you explain?

milkydrink

I know the difference, but have a quick question.

I'm after a furniture item, it has a BIN of £225.00 & a auction start price of £199.00.

If I put £225.00 in the auction as a bid, if anyone else bids on it & they bid to the last increment below £225.00, will it automatically convert mine to a buy it now?

I will pay £225.00, but I would rather pay 199.00:D , P&P is very high too £70.

Another seller has a very similar item (actually its the same just a different colour) with a start price of £175.00 & P&P of £49.95, so the P&P on the first one is a bit OTT.

The cheaper one ends first 4 days, the other ends in 7.

Can anyone tell me if I'm right in the way I think it works?

i_need_help_3

if you put on a bid at £250 then someone bids £250 you will be the higher bidder as you placed the bid first but then they could go higher than you and win the item however if you bid £250 then someone bid £220 you will still be winning at say £221 for example. hope that makes sense ha ha.

milkydrink

i_need_help wrote: »

if you put on a bid at £250 then someone bids £250 you will be the higher bidder as you placed the bid first but then they could go higher than you and win the item however if you bid £250 then someone bid £220 you will still be winning at say £221 for example. hope that makes sense ha ha.

Thank you
Yes I understand how the increments work.

What I'm wondering is does the buy it now kick in when the buy it now price is reached in the auction?

ormus

why on earth would anyone bid past the BIN price?

custardy

if you bid the BIN will disappear unless there is a reserve

milkydrink

ormus wrote: »

why on earth would anyone bid past the BIN price?

OF course I wouldn't bid past the BIN price.

But I'm out at work all day & I'm prepared to pay the BIN price but would rather pay less.

IF its a case of someone else getting it, then I will pay the £225. But I'm asking can I bid £225 on the auction & if someone tried to use the BIN price would it then automatically sell it to me as I had bid the £225 price first?

milkydrink

custardy wrote: »

if you bid the BIN will disappear unless there is a reserve

So if I bid the £199 (or more) the £225 BIN will go?

Is the £199 a reserve or a starting price? I don't really understand the difference.

So if I bid £225, the BIN option will go & it will become a normal auction & may go higher than £225?

Lucyxx

Once you have put in a normal bid ( however high ) the option for a buy it now will be gone. You will have to try your luck and get to the end of the auction to see if you are the highest bidder.

If I were you I would keep a close eye on the cheaper one as the postage is much more reasonable, even if the bidding goes up to £250 you are still better off if you take postage into account!

If money is no option for you, then I guess you should just go ahead and buy the one you really want!

Are they something that is likely to get lots of bids? does the seller sell alot of this same item?

Luc xx

Lucyxx

The £!99 is the starting price, I would think it would say on there if the reserve was not met (somewhere under the current price) don't see many items with a reserve anymore!

Luc xx

Lucyxx

The £199 is the starting price, I would think it would say on there if the reserve was not met (somewhere under the current price) don't see many items with a reserve anymore!

Luc xx

milkydrink

Lucyxx wrote: »

Once you have put in a normal bid ( however high ) the option for a buy it now will be gone. You will have to try your luck and get to the end of the auction to see if you are the highest bidder.

If I were you I would keep a close eye on the cheaper one as the postage is much more reasonable, even if the bidding goes up to £250 you are still better off if you take postage into account!

If money is no option for you, then I guess you should just go ahead and buy the one you really want!

Are they something that is likely to get lots of bids? does the seller sell alot of this same item?

Luc xx

Haven't a clue, just though I would have a look as the Cotswold company is so expensive. Its a shoe storage bench for the hall & a matching coat rack.

I will watch for a while.

Thank you