Monday, September 12, 2011

eBay Sales BIN vs Auctions

I have a hard time deciding whether to list something at Buy it Now or auction on eBay. I think making that decision takes me longer then actually listing an item.

When I'm first considering listing an item I'm usually at a yard sale or thrift store. I will do a quick check on my eBay App to see if an item is worth selling. If I decide it is I buy it and cross my fingers I made a good decision. Once I get the item home (or a week later) when I get ready to list it I do more research on the item. I check to see what an item has sold for. Whether it sold better on auction or BIN. How many of these items are currently on sale and how are they doing on auction. Then I decide what I would like to make on an item.

If I decide to go auction on an item I always start off the item at the lowest price I would be willing to sell the item for. I want to make at least $5.00 or more on it so that's what I usually start the auction at. I know a lot of people start their auctions at $0.99 but I have seen a lot of auctions close at this price and I would rather keep an item then lose money on it. I always do 7 day auctions. Once I have it listed I cross my fingers and hope for the best.

If I decide to do BIN option on an item I usually list it a little below what other BIN have the item listed for. I know that's bad but I figured they will buy mine before the other persons. I always do 30 days for BIN. I'm willing to wait to find a buyer for my item. I just went back to eBay after being gone for several years. And so far since I started listing again only one BIN didn't sell within 30 days. Not bad.

Which option do you prefer?

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