Quote:
Originally Posted by T206Collector
A BIN with a Best Offer option isn’t really an asking price. It’s an anchor to influence offers. E.g., last week I offered $650 on a newly listed $900 BIN, and the seller accepted it within a few minutes.
I like what you’re trying to do here, but if there is a best offer option, I do not think the BIN is anything other than a number that the seller invented to solicit offers at a (sometimes much) lower number.
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True, but what percentage of offers at 50% of BIN price (C>2) are actually accepted. In my experience that number would be less than 10%. Very modest "Best Offer" offers are frequently rejected as well making one wonder why the best offer option was even added to the BIN in the first place.
Obviously there variables in all examples going forward and any conclusions drawn from this price guide may well be considered unscientific and hence useless.
Outing ridiculous BINs trumps utility in this thread.
