Thoughts??? The joy of the 99 cent starting price auction......

[Runscott]

nevermind….

[bobbyw8469]

No ...speak your peace. This is one of my favorite topics! There are no right or wrong answers. I just know what works for me.

[Runscott]

Bobby, there actually IS a right answer when it comes to the type of selling strategy that a seller uses, but there is no way that a Net54 buyer can possibly know the 'right answer' for any particular seller, unless he analyzes the seller's business plan. The seller is in the best position to know what the 'right answer' is for him personally. For me it used to be .99 cent auctions with no reserve. It no longer is.

[Thromdog]

I agree with Scott. To each their own!

I posted this thread because I can't understand a 99 cent auction that has a reserve on it......not at all questioning the ethics of the seller or think he has some devious plan. It just didn't make sense to me as a buyer, but I'm guessing the seller has a valid reason.

In my mind, the 99 cent auction is a "you got 7 or 10 days to put out your best price, and I will accept it". I think setting up a reserve cancels that.

One of the newer approaches that I've seen that I like is having a a start price that you are fine selling for with no reserve set. If you only get a single bid, you are fine with that, and you can potentially get more.

[1952boyntoncollector]

Originally Posted by Thromdog

I agree with Scott. To each their own!

I posted this thread because I can't understand a 99 cent auction that has a reserve on it......not at all questioning the ethics of the seller or think he has some devious plan. It just didn't make sense to me as a buyer, but I'm guessing the seller has a valid reason.

In my mind, the 99 cent auction is a "you got 7 or 10 days to put out your best price, and I will accept it". I think setting up a reserve cancels that.

One of the newer approaches that I've seen that I like is having a a start price that you are fine selling for with no reserve set. If you only get a single bid, you are fine with that, and you can potentially get more.

You would be surprised how many times I listed an item with a start price of X and got no bids..but when started at .99 cents..the bidding got it above X...people think that a start price is inflated....that's why sellers are doing the .99 cents with a reserve...

[tschock]

Originally Posted by Runscott

Bobby, there actually IS a right answer when it comes to the type of selling strategy that a seller uses, but there is no way that a Net54 buyer can possibly know the 'right answer' for any particular seller, unless he analyzes the seller's business plan. The seller is in the best position to know what the 'right answer' is for him personally. For me it used to be .99 cent auctions with no reserve. It no longer is.

Agreed, and maybe even a step further. Not only would it be different from seller to seller, it might be different from item to item for the same seller.

I can price BINs for tobacco cards, but how do I price a "set of 4, ceramic, cork bottom, George Sauer NY Jets coasters in wooden holder" that was also in the box of cards I picked up if I want to get rid of it ASAP?

T cards - BIN
coaster set - auction with low (99 cent) opening bid

[vthobby]

I have started running Buy it Nows with some surprising success but if an item sits for a month or so with no great interest, I will run it at a penny with no reserve for 7 days. I have over 4000 100% feedback so I have a bit of experience in this field.

On a rare occasion, I will get beat up on the penny auctions but it happens rarely. I distinctly remember a Yellow HOF Postcard signed by Boggs which I got in person went for $1.75 or something crazy like that. After fuming a bit, I realized that I had paid $1 for the postcard and gotten the auto for free so I actually made money (so I tell myself....not counting opportunity cost of course!)

If you list items for a penny you can also back out of them anytime outside the 12 hour window so there really is little risk.

peace, mike

[sportscardtheory]

The worst is when you know there is a reserve, place your best price bid and you don't even reach their reserve. MOVING ON. lol

[bobbyw8469]

Originally Posted by sportscardtheory

The worst is when you know there is a reserve, place your best price bid and you don't even reach their reserve. MOVING ON. lol

Now is your price just a percentage of the typical going rate, or are you at least close to the average selling price?