Re: Ebay "buy it now"

Champ wrote:

On Wed, 31 Oct 2007 16:44:35 +0000, Lee <"mexz32 at yahoo dot co dot
uk"> wrote:

There would be no point in having an auction at all if someone
could >>> then just buy it at the BIN price once the auction price
exceeded the BIN. >>
Well, obviously no one would bid above the BIN price, would they,
YTC. They'd just click "BIN"

But there's plenty of point in having as BIN price that is
available >> while the auction is being bid on, I would have thought.

Not for the seller. Once the old auction fever grips, the price
could keep going up and up, far past the BIN price. The idea of any
auction is for the item to reach the highest price someone is
prepared to pay.

The BIN is (usually) the minimum price the seller would be prepared
to accept. If it is still available, as you say, no-one is going to
bid above it. That's why it disappears. Obviously.

That's pretty much exactly the opposite of how I think it should work
:-) The BIN price I set was not the minimum I'd accept, it was the
highest I thought I might reasonably get!

That's how I use a BIN ... not for lowest I'll accept, that's what a
reserve is for.

Surely there's some value, for both buyer and seller, in being able to
set a price which immediately ends the auction? And I don't see why
that option should disappear once bids come in. And remember, I'm the
seller in this case.

That's a good point, but it would mean start price and BIN price must
be a fair way apart to work reasonably. Many auctions have a start
price only slightly away from BIN, I can't see why personally.

--
Paul - xxx
.

Relevant Pages

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