The problem with eBay...

WordShaman · #1 05-11-2005, 11:11 AM

Hello everyone:
I just tried selling my Warwick on eBay over the last week. The auction closed and the same person had thrown in two bids in the last minute and he did meet my reserve.

My question is: How many people bid without actually planning on buying. The reason I ask is that this guy had an account no older then a day and had a 'hotmail' address. I've sent him messages and he has not replied. What should I do?

Thanks,
Wordshaman

Meyekul · #2 05-11-2005, 11:17 AM

Did you have the reserve amount posted? Maybe he was just bidding to see how high the reserve is, and it turned out to be higher than he wanted to spend?

Personally I hate reserve auctions. If there's a minimum amount you need, start the bidding at that amount. Don't make people guess how much they have to bid to meet your reserve. You're just suckering people in to make bids, and then you complain that people bid and don't buy!?

WordShaman · #3 05-11-2005, 11:18 AM

Well, you are obligated to buy the damn thing even if you bid on it with a reserve and win.

Meyekul · #4 05-11-2005, 11:22 AM

I understand that, but say you start the auction at $500, you want $700 minimum, but nobody knows that. So, if I wanted that bass for $500, I'd bid $500, but no, that's not good enough. So I bid $600, and still not good enough, and I don't want the thing bad enough to bid more. Therefore I just drove up the price for no reason except to learn that you're advertising something for a price that I can't have it for. So why not just start the bidding at $700 in the first place and save everyone the trouble?

WordShaman · #5 05-11-2005, 11:26 AM

In all honesty, I had the thing without a reserve at first and started it at a price I was willing to let it go for, but then a friend of mine said I did it wrong and to put a reserve on it. He then told me to lower the opening amount. I'm beginning to wonder if I made a mistake because I see your point.

Wordshaman

Meyekul · #6 05-11-2005, 11:30 AM

It's not so much a mistake, just another marketing strategy. People are more likely to buy something if they've already bid on it, especially when they get into a bidding war with someone else. It's hard to stop bidding when you might be $1 away from getting your item. All I'm saying is don't be surprised that people bid and don't buy when you're using that strategy.

**smperry** · #7 05-11-2005, 11:31 AM

Quote:

Originally Posted by Meyekul

So why not just start the bidding at $700 in the first place and save everyone the trouble?

Because people are more likely to start bidding based on a lower price, and then bid up to a reserve. If the price starts at $700, people think it's probably going to go higher and will be less likely to bid. Reserves work fine in my opinion...the seller starts the bidding lower to generate interest but still has some insurance in case the ending price is less than s/he's wiling to take.

Marshall

ColdYinTiger · #8 05-11-2005, 11:31 AM

While I do understand that you are obligated to buy it if you have met the reserve, I do think that hidden reserves are not the best way to sell on E-bay. I like to see what the price people actually want for it rather then keep bidding in hopes of finding out how much the dealer wants for it.

With that said, if you do keep bidding and reach the reserve, this means that you should have the money to back up the bids, bidding just bidding to see the price.

Blah, I just usually stay away from reserve e-bay stuff. Buy it now and price posted is what I stick with.

**smperry** · #9 05-11-2005, 11:33 AM

Quote:

Originally Posted by Meyekul

All I'm saying is don't be surprised that people bid and don't buy when you're using that strategy.

There are reasons not to bid on an item (too high, inexperienced seller, bad photos, you don't want it...) but not bidding on something you really want because you don't know the exact reserve seems a bit silly to me.

Marshall

**Marcus Willett** · #10 05-11-2005, 11:42 AM

I hate reserves. I wanna know that someone (maybe me) will win the auction. How far away am I? $50? $1?

I'm gonna sell you my Fender Jazz Plus. "OK, whaddaya want for it?" Make me an offer. "OK, $350?" Nope. "Um, OK...$400?" Nope. "Well, HOW MUCH DO YOU WANT FOR IT?" I'll tell you when you get there.

I think reserves suck, and unless I really need the thing, I won't even bid on an item that has one.

Starting the auction low is a gimmick to build a false sense of excitment. You really wanna do that? Fine. Put a reserve on it; start the auction at .01, and then tell people what the reserve amount is. If they wanna pay that, there ya go...everybody's happy. If no one does, now you know you'e asking to much. None of this guessing crap.

BTW I hate reserves.

Meyekul · #11 05-11-2005, 11:50 AM

I'm just saying that like ColdYinTiger I would probably avoid an auction that hasn't met the reserve, or at least watch it for a few days and see if someone meets it. If I wanted something badly, I'd bid on it anyway, but if the bidding gets too high for me and the reserve still hasn't been met, I'm probably going to let it go.

From a buyer's perspective, reserves are bad, since they lead you to believe you might get a better deal than you actually will.

From the seller's point of view, its just a matter of preferance.

Tom Hutton · #12 05-11-2005, 11:53 AM

I just bought a bass on ebay (not yours, sorry). The guy selling it had a starting price of $600, and a Buy It Now price of $800, and I got it for $630, which he was very happy to sell for.
So instead of setting a reserve, set a BIN price of what you would *love* to get, and set a starting price as the minimum you would sell for. That way you can get a price you want, and the buyer can feel like they're getting a good deal.

WordShaman · #13 05-11-2005, 02:09 PM

Ok. How long should I wait for this guy to get ahold of me? If I put it back on eBay, which I have my doubts about, I should not use a reserve price then. It's too bad such a beautiful bass plays so horribly in my hands.

Meyekul · #14 05-11-2005, 02:24 PM

The auction he bid on is over, he didnt win, so you don't really have to wait at all. I'd go ahead and relist it, starting at the bare minimum price you want for it, and then tell the guy that it's listed again if he would like to bid. You might try selling it here, but I think you have to be a supporting member to do that.

WordShaman · #15 05-11-2005, 02:43 PM

No he did win the bid. He met the reserved price and won the auction. So, I guess I just need to know how long to wait before trying again. This costs money each time I list it.

Yeah, I wish I could post it here, but I just can't afford to keep dishing out 20 dollars every time I want to try to sell something. Although I might have better luck here.

Wordshaman

Meyekul · #16 05-11-2005, 02:56 PM

Oh, I see, I totally misunderstood. Sorry about that

I think you legally have 30 days to contact the buyer after you win an auction, but check Ebay's policy to be sure. If he doesnt contact you, report him to Ebay and try selling it again if you want to. Its for that very reason that a lot of people wont sell high-value items to buyers with low ratings and/or few buys.

WordShaman · #17 05-11-2005, 02:58 PM

Thanks for the advice.

Wordshaman

Eric Moesle · #18 05-11-2005, 03:14 PM

I also suggest that you put a condition in the text of every auction stating that you have the right to reject any bids from people without a minimum amount of feedback and/or an Ebay account that is not at least a few months old. Gives you an out if you are being scammed.

Also state that payment must be received within 7 days of auction end else you have the right to relist the item.

IMO, Ebay is only a pit for those unwilling to look around, see what others are doing, and do the same to protect themselves.

Stinsok · #19 05-11-2005, 04:04 PM

I have never liked the "Reserve" I start the bidding at the lowest amount I will sell for and go from there.

BassManJim · #20 05-11-2005, 06:04 PM

On the subject of eBay fees, listing fees are non-refundable. However if your buyer turns into a deadbeat, you report him to eBay, it was originally "Deadbeat Buyer", then it became "Non-paying Buyer" now it is known is an "Uncompleted transaction".

When you report the buyer, then you fill out the form for a final value fee refund, and you get that money back.

My philosophy is that you report the buyer if they have not responded to you in ten days from the end of the auction. Then apply for fee refund, and leave anegative feedback for the buyer, then relist.

and go from there.

For more info go and read the eBay disscussion forums.

.....Jim