1) You have a rare item with multiple buyers wanting it. The buy it now penny auctions are generally only offered by the larger penny auction sites like Quibids or BidRivals because they can afford to operate this way due to the economies of scale that allows them to buy their auctioned items at great enough discounts to still maintain a healthy profit margin even if a large amount of bidders exercise the buy it now option on an auction. I would not be surprised if auctions are less than 10% of the total listings. Those are my ideas, exactly!! Create New Account. 2) You have a rare item and can’t find any active or sold listings for it so you have no idea what it’s worth (pick a high starting point and see what happens). The Best Penny Auction Sites Online - Bid and Win at Top Penny Auction Sites. Search Auctions Auction Locations Auction Calendar Today's Auctions VIN code lookup. I had used auctions exclusively for 20 years but have not gone to 95% Buy It Now as I was often getting killed on the final auction price. There are some up front costs like the shipping and sometimes inflated “BIN” prices that you need to work with but assuming you find an auction you like with products and prices you like then you can more or less risk free bid and try to win the item for pennies on the dollar. Buy It now ; Fire Arms Auction; Buy It now . As stated, review the listing in full before submitting it. Sellers in collectible categories like railroad color slides may achieve better results with auctions if the slides are high quality, older, and well presented. If the answer is yes, then I will almost always list that item as a BIN. All the above being said, I think it is VERY encouraging to have the option of listing in an AUCTION format, but with a BUY IT NOW option for the bidder to choose. So you can list 20 of the same items, flood the market and kill prices. If not, best offer can speed sales. In the stamp marketplace high quality stamps sell for more, sometimes a lot more, as fixed price listings but patience is required. You can learn more about each room in our BidRivals.com review and Qbids review. But can't seem to see a way to change it unless I make a new listing as Sell Similar mark it as a BIN and then delete the auction one. First search our inventory online. For example, let's say an item is up for auction with a starting price of $10 and a BIN of $50. So it all will come down to what you are selling. That is when all the action would start to happen. You have to buy bids in ‘bid packs’ and depending on the item you are going to try to win, it makes the most sense to buy the smallest bid pack that completely covers your BIN price. The result is that buyers have some difficulty finding some stamps and a lot of difficulty finding other stamps. AS A BUYER – For me, there is absolutely NOTHING more frustrating than a BuyItNow listing that someone else finds and buys before I do. I would suggest you ask yourself a simple question when deciding on a format: Can I buy this item easily right now, locally? Video Guides How To Buy Help Center Register to Buy Contact Us. Consignment and Wholesale Services? The last ten seconds of most auctions was purely exhilarating (most of the time) with many items shooting up hundreds, if not thousands, of dollars in just those last few seconds. Buy It Now Auction. Speaking of the penny auction sites buy it now prices, this is the most important gotcha to look at when considering whether or not trying to win the item on a penny auction site like Quibids.com or BidRivals.com is going to make the most financial sense to you. A signed first edition of Mary Shelley’s Frankenstein from 1818 would be a good example of this. 237d 2h 25m . Payment services? Only auctions that do good are one of a kind item or a rare color, once in a while I’ll do good if a bidding war takes place. Buyers can offer you what they feel is fair and you can either accept, decline or counter offer. The buyer will only have a limited time to bid on the item. An online auctions website can allow you to have a “Buy It Now” price for an item you have put up for sale. Should I sell my items as an auction on eBay? But the market remains glutted. He runs, Share your expertise! It is HEARTWRENCHING to search for something for years (I have) and then AT LAST, one appears but it is BIN and POOF it is gone before I have a chance at it. Jons Buy it now and Auction. Everyone loved watching the prices climb over the life of the auction. Once the price is bid up to $25, the BIN option disappears. 13035 N CR 2400 E (1,644.23 mi) To get an example of what I am talking about, lets look at the Invicta Watches that the PA sites all seem to love. Utilize Both Auction VS Buy It Now In the end, there is really no clear winner for us. You can easily determine which option is best by digging through Terapeak, which is now a free tool available to all resellers on eBay. I think auctions are great for moving stale inventory or for selling rare and unique items at a much higher price. It is always (almost) higher at the penny auction site and this is expected. And that allows for more psychological and strategic game play. High quality scans and accurate descriptions are a must. Participate in the Magnificent Seven Shopping Fandango at Beezid, Penny Auction Sites: Cheaper and More Fun Than Department Stores, incredible items up for auction on Quibids.com. Best offer limits above auction start prices can give impatient buyers a way to buy before bidding starts. Waiting a week or more for an auction to end is just far too long to wait for most potential buyers. The seller, alike, would be fixated on their computer screens watching its progress throughout the week, but it was the last 30 seconds of the auction that was the most exciting. Item specifics required by eBay are generally useless. Shipping Available Date(s) 1/4/2022 - 1/18/2022 Bid City Auction Company, LLC. Auctions began to die after ebay decided to cloak bidders. The reason someone is buying those items online is usually to save money, but they also want them right away. Community See All. Keep in mind that other potential buyers can still submit offers in this time frame. I have been on eBay 23 years and generally sell unique rare items often only one of eBay. Support. ZZ – I absolutely agree with you. The above penny auction sites offer buy now ability on their auctions, at least most of the time. Recent experience with auction listing / BIN option is promising. Your local Port St Lucie auctioneer or auction house It will all come down to what you are selling, more so than anything else. You can also add a Best Offer option to you BIN listings, which gives a potential buyer an option to make the seller an offer on that item. Click on it to get all the details including specifications and photos. s/n:0102503080 Call me cynical but a bidder you can’t identify could be a shill bidder. PICK UP at 500 W. 15th Avenue Oshkosh, WI 54902. (Remember, we add inventory daily so check back often.) When eBay first introduced the BIN format, many people were very reluctant to dive in, having seen so much success from running auctions for so long. As a certified member of the National Auctioneers� Association U.S.A., our auctions are managed by experienced management professionals and auctioneers, providing customers with a world class auctioning experience equal to what is obtained in sophisticated global markets. There are, of course, other factors that must be considered, such as the value, scarcity, and overall demand of the items in question. Escape Room Experience for Six valued at £89.00 But, there's a catch with Buy It Now. This is the most common question I am asked routinely by both new and longtime resellers alike. Also, buying bids in bulk often times averages your bid cost down. While the Buy It Now option is by far my favorite, and what I recommend most of the time, I do still routinely use and recommend the auction format for many specific types of items. You can select from a great range of vehicles including sedan, hatch, station wagon, ute, SUV and 4WD, many are government and end of lease cars which are late model, low km’s and some even come with the balance of new car warranty. So what I tend to do is list with Auction format but with the starting price being the minimum I am willing to sell the item for. Online-Only Auction. In most cases, I have found that the items we routinely sell will almost always sell higher as a BIN than as an auction listing. Thousands of vehicles marked as Buy It Now are available for immediate purchase. (I thought it was a scam, but no, it turned out to be a legitimate sale and honest buyer – he just wanted it.) Buy It Now for £69.00. They have MSRP’s of hundreds of dollars. Sure you might save a little cash in the short term but it is likely that you are not going to get the transaction completed quick enough to have bids to battle with and end up loosing an auction you could have won. Apart from that, when eBay moved Buy It Now to 30-Day GTC effectively killed my business. Why? Copart offers thousands of salvage & clean title cars, trucks, motorcycles & more. It may seem like a very simple question with an easy answer, but that, unfortunately, is not the case.
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