Ebay strategies?

Started 3 months ago | Discussions
FrancoD Forum Pro • Posts: 11,077
Re: Ebay strategies?

bolt2014 wrote:

I never bid on an item that has a reserve unless the seller will tell me what the reserve is.

There would be no point for a seller to have a low starting price IF it tells you what the reserve is.

That is how house auctions work , for example.

You get a few bidding below the reserve and then they carry on trying to outbid the other often passing their pre auction  maximum price.

And this is why if one tends toi be of a competitive nature, auto bid can work better because it only bids up to the max set when you are sober (not emotionally involved in the bidding process)

bolt2014
bolt2014 Regular Member • Posts: 200
Re: Ebay strategies?
1

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

By the way, I have over 800 transactions on Ebay with a 100% feedback rating in both my sales and purchases.

Shoot photos not camera brands!

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Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?
1

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

By the way, I have over 800 transactions on Ebay with a 100% feedback rating in both my sales and purchases.

Shoot photos not camera brands!

tcg550 Veteran Member • Posts: 9,100
Re: Ebay strategies?

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

He said he doesn't bid on reserves. I'm the same way, if there is a reserve I move on. I don't attempt to contact the seller.

Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?
3

tcg550 wrote:

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

He said he doesn't bid on reserves. I'm the same way, if there is a reserve I move on. I don't attempt to contact the seller.

No, what he said is:

"I never bid on an item that has a reserve unless the seller will tell me what the reserve is."

Because his time is "too valuable".

Instead of placing a simple bid and finding out if it met the reserve or not, he'd rather go through the "contact seller" option, make a couple clicks, type out a question, and wait for a response. Hours?  Days?

No sense at all.

I don't use it when I sell, but I have no problem bidding on an item if there's a reserve. It takes exactly the same amount of time, and I understand the reason for a reserve.

OP John KM/linhof Regular Member • Posts: 341
Re: Ebay strategies?

Jonsi wrote:

I don't use it when I sell, but I have no problem bidding on an item if there's a reserve. It takes exactly the same amount of time, and I understand the reason for a reserve.

As a seller I did use a reserve once in a while. But now instead of a reserve I will price the opening bid at that amount, i.e. the lowest price the item is worth to me.

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Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?

John KM/linhof wrote:

Jonsi wrote:

I don't use it when I sell, but I have no problem bidding on an item if there's a reserve. It takes exactly the same amount of time, and I understand the reason for a reserve.

As a seller I did use a reserve once in a while. But now instead of a reserve I will price the opening bid at that amount, i.e. the lowest price the item is worth to me.

Yeah, the occasions I use auctions, my starting price is the least I am okay with, but I almost always set a price and just use Buy it Now. I'll leave things set to auto-renew if they don't sell. Sometimes months later I'll get a notice someone bought something I forgot I was selling.

bolt2014
bolt2014 Regular Member • Posts: 200
Re: Ebay strategies?

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

It certainly takes less time keeping track of said auction for however long the auction lasts.

Shoot photos not camera brands!

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CMCM Senior Member • Posts: 4,793
Re: Ebay strategies?

tcg550 wrote:

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

He said he doesn't bid on reserves. I'm the same way, if there is a reserve I move on. I don't attempt to contact the seller.

What is a reserve?

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tcg550 Veteran Member • Posts: 9,100
Re: Ebay strategies?

CMCM wrote:

tcg550 wrote:

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

He said he doesn't bid on reserves. I'm the same way, if there is a reserve I move on. I don't attempt to contact the seller.

What is a reserve?

It's the minimum bid a seller will accept, sometimes the seller hides that amount.

Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?
1

bolt2014 wrote:

Jonsi wrote:

bolt2014 wrote:

I don't bid on reserves because the reserve might be more than I'm willing to pay for the winning bid. My time is too valuable to waste my time on such auctions.

So writing personal messages asking how much a reserve is and waiting for a response takes less time than typing in a number.

Got it.

It certainly takes less time keeping track of said auction for however long the auction lasts.

You bid once and eBay updates you if you want it to.  You're spending a lot more time your way.

I'm not trying to argue, I just don't see the problem with reserves.  I'll gladly bid. It's quick, easy, and it's either above the reserve or its not. If it's not, there is still a chance I'll get it for my price.

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Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?

CMCM wrote:

What is a reserve?

It's sort of a minimum bid amount on an item, that also allows the seller to choose to sell for less.

It's for items whose value you aren't sure of.

In other words.. You have an older Gretsch White Falcon but you don't know for sure what it's worth. You think it's worth $10,000 but you hope for more. You set a starting bid at $8,000 with a reserve of $9,000. That means you'll accept $9,000.

All bids above $8,000 are accepted but people are told "reserve not met" until bids reach $9,000. So, when the auction ends, if the highest bid is $9,000, they win. If the highest bid is $8,500, you can decide you're willing to sell it for that... or not.

It's better than just setting the minimum bid at $9,000.

New Day Rising
New Day Rising Senior Member • Posts: 2,956
Re: Ebay strategies?

Jonsi wrote:

CMCM wrote:

What is a reserve?

It's sort of a minimum bid amount on an item, that also allows the seller to choose to sell for less.

It's for items whose value you aren't sure of.

In other words.. You have an older Gretsch White Falcon but you don't know for sure what it's worth. You think it's worth $10,000 but you hope for more. You set a starting bid at $8,000 with a reserve of $9,000. That means you'll accept $9,000.

All bids above $8,000 are accepted but people are told "reserve not met" until bids reach $9,000. So, when the auction ends, if the highest bid is $9,000, they win. If the highest bid is $8,500, you can decide you're willing to sell it for that... or not.

It's better than just setting the minimum bid at $9,000.

eBay Australia got rid of the reserve system a few years back - I'm 95% sure it's gone entirely. You can set a minimum bid amount - in the case you describe you have to decide if you want to set the minimum at $8,000 and take the risk it won't go much higher, or set it at $9,000. You could also do offers from $8,000 and decide whether to accept any given offer or not.

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New Day Rising
New Day Rising Senior Member • Posts: 2,956
Re: Ebay strategies?

I just sold three items on eBay.

The first, a camera body with some bits and pieces, I figured would net around $200. I listed it with Buy It Now of $235 and opening bid of $135. It ended up selling for $255, so I was pleased.

The next a lens that usually sells for $200 or just over; a couple have gone for $150. I started the bidding at $100. There was only one bid, so it sold for $100. I was not pleased and really wish I had decided to keep it at that price (I had been thinking of just keeping it anyway before listing it). I have been having evil thoughts about claiming I dropped it while packaging it and just refunding the money.

Finally, a few accessories that I figured would get somewhere between $50 and $100. I started bidding at $10, hoping for some jostling near the end. They sold for $23.50. Not pleased again, but that's what you get.

Perhaps not surprisingly the only one that hasn't been paid for yet is the camera that sold for a decent price.

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vyoufinder
vyoufinder Senior Member • Posts: 1,415
Re: Ebay strategies?
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New Day Rising wrote:

I just sold three items on eBay.

The first, a camera body with some bits and pieces, I figured would net around $200. I listed it with Buy It Now of $235 and opening bid of $135. It ended up selling for $255, so I was pleased.

The next a lens that usually sells for $200 or just over; a couple have gone for $150. I started the bidding at $100. There was only one bid, so it sold for $100. I was not pleased and really wish I had decided to keep it at that price (I had been thinking of just keeping it anyway before listing it). I have been having evil thoughts about claiming I dropped it while packaging it and just refunding the money.

f.y.i. eBay is very aware of that idea, as are many buyers. I myself leave scathing feedbacks and also report sellers who decide not to ship due to my getting a better price than the seller had hoped. eBay does not care your reason why you did not fulfill the order and penalizes you appropriately no matter the reason. Is a few bucks worth being a liar and a cheat both?

Finally, a few accessories that I figured would get somewhere between $50 and $100. I started bidding at $10, hoping for some jostling near the end. They sold for $23.50. Not pleased again, but that's what you get.

Perhaps not surprisingly the only one that hasn't been paid for yet is the camera that sold for a decent price.

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OP John KM/linhof Regular Member • Posts: 341
Re: Ebay strategies?

New Day Rising wrote:

I just sold three items on eBay.

The first, a camera body with some bits and pieces, I figured would net around $200. I listed it with Buy It Now of $235 and opening bid of $135. It ended up selling for $255, so I was pleased.

The next a lens that usually sells for $200 or just over; a couple have gone for $150. I started the bidding at $100. There was only one bid, so it sold for $100. I was not pleased and really wish I had decided to keep it at that price (I had been thinking of just keeping it anyway before listing it). I have been having evil thoughts about claiming I dropped it while packaging it and just refunding the money.

Finally, a few accessories that I figured would get somewhere between $50 and $100. I started bidding at $10, hoping for some jostling near the end. They sold for $23.50. Not pleased again, but that's what you get.

Perhaps not surprisingly the only one that hasn't been paid for yet is the camera that sold for a decent price.

I (the original poster) listed 31 items, some with multiple pieces, that ended last Sun/Mon. 5 didn't sell, all have paid except one (a Bronica outfit for $250).  The items were things I decided I can live without. I price most LF lenses at $100 and most sold above this. Total "gross" is about $2500. Two items went to Japan and one went to Norway, I lost money on shipping cost for all three! Also if you ship USPS from Florida to California it can be more expensive than expected.

I looked around for more "junk" to sell and will list it next Sunday if Dorian, the almost hurricane, lets me. Just got 20 gallons of gas for the generator, just in case.

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Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?

New Day Rising wrote:

I just sold three items on eBay.

The first, a camera body with some bits and pieces, I figured would net around $200. I listed it with Buy It Now of $235 and opening bid of $135. It ended up selling for $255, so I was pleased.

The next a lens that usually sells for $200 or just over; a couple have gone for $150. I started the bidding at $100. There was only one bid, so it sold for $100. I was not pleased and really wish I had decided to keep it at that price (I had been thinking of just keeping it anyway before listing it). I have been having evil thoughts about claiming I dropped it while packaging it and just refunding the money.

Finally, a few accessories that I figured would get somewhere between $50 and $100. I started bidding at $10, hoping for some jostling near the end. They sold for $23.50. Not pleased again, but that's what you get.

Perhaps not surprisingly the only one that hasn't been paid for yet is the camera that sold for a decent price.

The reserve was made for you.

Jonsi
Jonsi Veteran Member • Posts: 4,499
Re: Ebay strategies?

vyoufinder wrote:

Is a few bucks worth being a liar and a cheat both?

Define "few"

vyoufinder
vyoufinder Senior Member • Posts: 1,415
Re: Ebay strategies?
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Jonsi wrote:

vyoufinder wrote:

Is a few bucks worth being a liar and a cheat both?

Define "few"

At what point is it worth being a liar and a cheater?  IF you're not one, the answer is simple.

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nevada5
nevada5 Forum Pro • Posts: 13,982
I'm late to this party

I didn't read through the posts but I'll just add a comment that I found to be applicable.

I never do 7 day auctions.  When I did, I sat for the first 5 days watching nothing happen. 5 days is plenty, 3 is better.

As a buyer it works the same way. I put something on my watch list, 7 days from end of auction and before that auction matures I found another item.

Essentially you're saying "Check back in a week." Yeah, right.

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