BIN vs. Auction

[cbcbcb]

I look for multiple BINs I am interested in from the same seller and make an offer 50% of the price for the combined lot.

[Rob D.]

I'm a firm believer in sellers asking what they want and letting the chips fall where they may. They own the cards, so let them set the price. We have no idea whether they overpaid for a particular card, really don't want to sell unless they get their stated price, etc.

That being said, I simply can't explain a couple of cards I've seen during the past year. I know that eBay BIN stories are like "bad beat" stories from poker players: Everyone has one and thinks his is the best, and few other people really want to hear about it. Unfortunately, I'm going to tell mine anyway.

Last summer I noticed for the first time as a BIN (with a best-offer option) a T206 Lajoie with a Tolstoi back, PSA 5. Nice card. BIN = $2,495.95.

I like to think I've got a decent grasp of what Lajoie cards sell for, even without checking VCP. But I figured maybe I missed something. VCP has one recorded sale of $717 for this card in this grade, in October 2008. I had seen another sell early last year for just north of $900. So where the seller came up with $2,500, I have no idea.

Last year I made (I think) three offers -- $900, $1,000 and $1,100 -- which were automatically rejected immediately. I shrugged and figured the seller was using the card to draw attention to other cards he really wanted to sell. No big deal. Then last month I see the seller had relisted the card for the same price.

Against my better judgement I send him a nicely worded e-mail complimenting him on the card and explaining that I am interested in buying it if he's interested in selling it. I make an offer of $1,200 -- 33 percent more than I've ever seen this card sell for. I pass along the prices I've seen the card sell for and explain that while I'm willing to overpay for his card, I simply can't go anywhere near the neighborhood that he's asking.

His reply was that we're too far off in price, so there's no way we could reach a deal.

As far as I can tell, I think I'm the only sap who has made offers on the card (at least through the "Make an offer" option).

This experience and a few others that followed the same scenario are the main reason I rarely bother with sellers who list their cards at such outrageous prices. Again, I'm sure they have a strategy. I'm just not following it.

[Robextend]

I agree with most everything that was said, however there are times where you can get a steal on a BIN. Unfortunately I am sure I miss most of those occassions because I only go on EBAY once or twice a day to search. Recently I was fortunate enough to pick up 11 1933 Goudeys at a very reasonable BIN price. I am sure if I didn't see those they would all be gone in a couple days.

[smtjoy]

As a buyer and a seller on ebay, I know the first time I sold a card I purchased for $77 and sold it a year later open auction on ebay for $8.16 it made me think twice on how I was selling cards, once it happened a couple more times I had to make some changes. I am not sure why my cards sold lower, maybe the economy, maybe they were run up by me and one other bidding and when I was out then the card sold cheap, I dont know but I felt it was best to make a change.

Since in most cases I am selling only to buy more cards and I am not in any kind of rush for the money, I started running auctions with high starting bids. This has worked well with about half selling, then I decide on the unsold to either relist lower or move to my store BIN. On the cards I think are quality and I like having in my collection they go to BIN, I look at both what i paid and VCP and come up with a price I am ok to sell at, then mark it up 10% over that. I do not care if my price is xx% higher than VCP if I feel thats what the card is valued to me at because worse case it will just stay in my collection. My store has done great for me, I have about 50 cards listed at any time and I sell 2-4 a month, my inventory has been turning in about 18 months. I had a 15% off sale for a week in Nov and sold 15 cards, great week. I always hear of the negative about stores/BINs here but I have really experienced the opposite. My issue is getting more quality cards to put in my store.

I really also should prefix that with the cards I am selling are not your common 1950-70's topps/bowman types, most are exhibit or oddball Clementes that have low pops and not a lot of VCP data.

I do accept offers and it just depends on the card, I just sold a card that I had listed for $175 for $85, it had been in my store a while and the buyer had purchased another card at my number so I was happy to deal. In other cases like I have a nice 1921 Exhibit Ruth, I have it priced pretty close to what I expect to get out of it and have turned down over 10 offers that were lower than I was willing to go, I am ok with that because its a great card and if I still have it in 5 years that works for me, its also the kind of card that makes for good trade bait.

[ChiefBenderForever]

I am tempted to send thank you notes to a few sellers of ourtrageous BIN where I offered way over VCP and was told they couldn't do it, eventually I was able to pick up even nicer cards for about a third of their asking price and about half of what I offered. I really enjoy the ones who have a best offer and counter at 5.00 less than the price, when bing had 20% off and they still didn't have any sales that should tell them something but if they don't want to ever sell any cards that is their business and more power to them.

[grandslamcardscria]

I believe the main reason for people not using the auction format is because of what everyone else has already said.. The prices are regulary lower and
I believe this reason is caused by Ebay and their recent changes. The category thing is a joke if you dont use item specifics. Your auction will get lumped into 1 general category, (less exposure)... If you are not a TOP rated seller you will not have the exposure either..
Ebay auctions have become a wholesale club for buyers.

[Orioles1954]

There are also some sellers who put their BIN about 10-20% above VCP or other auction related prices realized. I have found these folks to be a lot more accomodating. By the way, how much does a bare bones, no frills e-bay store cost?

[Matt]

Originally Posted by Orioles1954

There are also some sellers who put their BIN about 10-20% above VCP or other auction related prices realized. I have found these folks to be a lot more accomodating. By the way, how much does a bare bones, no frills e-bay store cost?

Someone should correct me, but I believe with the stores, the final value fees are even higher then they are with eBay auctions (maybe 50% higher) so the listing fee is lower but they hit you harder on the back end.

[smtjoy]

Fees are lower for auction format but if your items are selling for much less, its still well worth it to use BIN's.

Auction format-
$0.01 - $25.00**
8.75% of the closing value

$25.01- $1,000.00
8.75% of the initial $25.00 ($2.19), plus 3.50% of the remaining closing value balance($25.01 - $1,000.00)


Fixed Price-
$0.01 - $50.00
12.00% of the closing value

$50.01 - $1,000.00
12.00% of the initial $50.00, plus 6.00% of the remaining closing value balance ($50.01-$1,000.00)



Stores start at $15.95 plus per listing-

$1.00 - $24.99**
$0.03
$0.03 / 30 days

$25.00 - $199.99
$0.05
$0.05 / 30 days

$200.00 and above
$0.10
$0.10 / 30 days

[J.McMurry]

I love to watch the show "Pawn Stars" on A&E,and a recent episode reminded me of exactly this topic. The head guy swung a deal on some rare historical item and then speaking into the camera said "I'm so glad I got this item, cause I'm going to stick it in a store case and put a REALLY high price tag on it, because I dont care if I never sell it."

[Orioles1954]

Is that 15.95 per month?