I don't understand ebayers

[moribundman]

The following has happened to me a few times: I list a unique item at a relatively high starting price (1/4 of the regular and fair price), because I don't want to risk selling it for less than it's worth in material cost (not counting labor at all).

I list the thing for 7 days and 12 people are watching for several days, but none of them places a bid. Three minutes after the auction is over, I get an email from X, saying he unfortunately missed the auction, and if I would sell him the item for a bit less than the starting bid plus shipping. I tell him, sorry, no can do, the starting price barely covers material cost. He then apologizes for his proposition, which he made only because he was poor. He says if I relist the item he will surely bid. I relist the item and he does indeed place a bid. Now, with 6 days left, a few people are bidding and fighting like there's no tomorrow.

This almost makes me thing using a shill for the first bid would be wise. I myself am not tempted to bid on something just because others are bidding. I also bid on items that have no bids yet. What gives?

 

[Julian]

Are you selling your watch-making lathe? This is a very common occurrence when selling watch-making lathes.

 

[Tempest]

You are not doing your part to subsidize the poor? Shame on you.

I think the thrill of the hunt is more rewarding that the kill. At least to some people.

 

[moribundman]

Originally Posted By: Julian
Are you selling your watch-making lathe? This is a very common occurrence when selling watch-making lathes.


I'm not selling the lathe. The lathe would easily sell.

 

[Cutehumor]

have a friend bid on the item to get the ball rolling. but you didn't hear it from me

 

[moribundman]

Originally Posted By: Cutehumor
have a friend bid on the item to get the ball rolling. but you didn't hear it from me

Did you not read the part that I wrote about needing a shill to get the ball rolling?

 

[Mr Nice]

How about posting the link so a BITOG could possibly bid on your item.

 

[Cutehumor]

Originally Posted By: moribundman
Originally Posted By: Cutehumor
have a friend bid on the item to get the ball rolling. but you didn't hear it from me

Did you not read the part that I wrote about needing a shill to get the ball rolling?


speed reading..

 

[moribundman]

Originally Posted By: LT4 Vette
How about posting the link so a BITOG could possibly bid on your item.


How about no?

 

[moribundman]

Originally Posted By: Cutehumor
speed reading..


Doesn't seem to be working that well!

 

[MrCritical]

Yes, there's lots of shill bidding on Ebay.

I've noticed it especially on electronics.

And I don't think 1/4 of the value is a high starting price.

Lots of items sell for the same or higher price as new.

Almost every individual with a car for sale is looking to get out of being upside down.

 

[moribundman]

Originally Posted By: MrCritical
Yes, there's lots of shill bidding on Ebay.


Ebay is encouraging shill bidding by not showing the names of the bidders until after the auction is over. Shill bidding is just not in by repertoire of business practices. How can I possibly expect others to be honest if I myself am not?

 

[Gary Allan]

It would be hard to get a higher numbered shill. They still show the auction(s) number after the name. I would think (although anything is possible) that it would end up being rather expensive to relist items that you "shill won". I guess you could use your shill ID to buy stuff you wanted ..but that listing fee would really get in the way.

I often don't bid on stuff that someone else has put in an early bid. All the stuff I buy is at absolute salvage/fixed limit prices. If another bidder is involved, it typically just means that he pays more than he has to for it. Much depends on the starting bid. If a $50 max total item is starting out at $0.99 with one bidder ..and hits $15 with 4 ..I'll hang out and place my $50 (net) snipe ..but if the identical item starts at $25 ..nope.

 

[PandaBear]

Originally Posted By: moribundman
Originally Posted By: MrCritical
Yes, there's lots of shill bidding on Ebay.


Ebay is encouraging shill bidding by not showing the names of the bidders until after the auction is over. Shill bidding is just not in by repertoire of business practices. How can I possibly expect others to be honest if I myself am not?


Not really, I have a friend who always sell stuff on ebay without listing fees by going after the 2nd highest bidder and sell on private terms. That can easily save the seller 5-6% of the cost.

Ebay's buyer behavior is really a classic of human nature. Fundamental marketing at its best. Here are some strategies that always work for me:

1) Use a low starting bid and fair (comparable to other identical items) shipping. People get [censored] off with high shipping and starting cost and frequently won't bid on it first, unless a few other bids exist to confirm that it is fair instead of a rip off.

2) Your listing should end on the day with most traffic, that means sunday night, so that more people will see it the last minutes and fear that they cannot wait or else the deal will be gone (limited time deal). If you let it end on Wed 7am, most people will think either I can wait a couple more days and forget about it, or lost interest by Tuesday and do not bid.

3) Help your rival by bidding their listing (but don't win it) to a reasonable level. People like confirmation that they get a fair or good deal, and a low/no bid on rival listings give them a false sense of being ripped off.

4) Use a good title and description. Something that really help others looking for similar items or make them interested in it. For printer, add "accept generic ink", for glassware, add "made by Wedgwood Germany", for wireless router, add "support Linux firmware" etc. Of course, they have to be accurate and correct, or else it is fraud.

5) Photos, photos, and photos (at least 1), to prove how good of a quality it is and how good of a condition it is in. Present your item as great quality and yourself as an honest seller (no flashy phrase or "L@@K" irrelevant clipart that cheapen your listings.


It is all about marketing and generating the desire, so that they will bid because they don't like losing, and end up paying more than your expected price.

 

[Cogito]

Originally Posted By: Gary Allan
I often don't bid on stuff that someone else has put in an early bid. All the stuff I buy is at absolute salvage/fixed limit prices. If another bidder is involved, it typically just means that he pays more than he has to for it. Much depends on the starting bid. If a $50 max total item is starting out at $0.99 with one bidder ..and hits $15 with 4 ..I'll hang out and place my $50 (net) snipe ..but if the identical item starts at $25 ..nope.

If you would be willing to pay $50 for an item, what diff does it make if the starting price is .99 or $25? Whether there are 4 bidders at $15, or none at $25, you still don't know how many additional bids will be made, or their amounts. A lot of items only get a rush of bids at snipe time.

The common technique that I have used with good results is to just place lowball starting bids for items you want, but don't absolutely need. Say, for common items like underwear, for example. I've gotten a lot of good deals simply because no one else bothered to bid. You never know when this may work. One week a certain item may be repeatedly getting a dozen good bids in each auction, then suddenly no one at all is bidding.

 

[wavinwayne]

I must be a good marketer/salesman, because almost all of the things I have sold on eBay have sold for waaaaaay more than they were actually worth.

My method, while risky, is to set no reserve price, and start bidding at $0.99. It's worked every time but once.

The last thing I sold was an old Trek road bike for several hundred more $$ than I paid for it. Cha-Ching!!!

 

[Gary Allan]

Quote:
If you would be willing to pay $50 for an item, what diff does it make if the starting price is .99 or $25?


Because my ceiling and the starting bid are too close together.

Let me take it to the extreme to make a point. Let's say my limit is $50 total and the total starting bid is $49. With one bidder already there ...WILL I BOTHER? No.

These are selected items that have variable interest in the market. I've paid $50 total ..but the last one I got for $36 total just due to people quiting too early. That is, no one else is sniping ..and if they are, so what?

What I do find odd/curious is when I see 4 bid with a starting bid of $0.99 ..yet the current bid is ..maybe $2.99. I don't know if it's shills ...boredom ...or some "staking claim" in some announcement process that I can't perceive.