eBay Oz extend Buy It Now period

by Sue Bailey

This post was written in October 2007; specific information contained within it may be out of date.

eBay Australia have just announced that Buy It Now prices will be kept available until bidding reaches 50% of the BIN price. Currently, of course, BIN prices disappear as soon as the first bid is placed (or when bidding reaches the reserve price).

This is great news for sellers. We should see the end of the “BIN-killer” bid, where a buyer will bid the opening price just to ensure that no one else can BIN the item. Too often these days, that means that they’ll win the item for the opening bid price. Keeping the BIN price available should push average selling prices up, as well as giving buyers the convenience of Buy It Now for longer.

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Author: Sue Bailey
Posted at: Monday, October 15th, 2007 at 7:58 pm
Filed Under Uncategorized
 

Comments

2 Responses to “eBay Oz extend Buy It Now period”

  1. Chris Dawson on October 15th, 2007 8:11 pm

    Please please please can we have this in the UK! :-D

  2. Extended BINs spread to .com : TameBay on October 17th, 2007 7:59 pm

    [...] After Monday’s news that eBay Australia are keeping BIN prices alive for longer, eBay.com have now announced that in the clothing and cell phone categories, BIN prices will also remain after the first bid is placed. As in Australia, BIN will be available until bidding meets 50% of the bid price. As Sohil Gilani puts it, “we’re looking to find the “sweet spot” that offers maximum benefits to both buyers and sellers”. [...]

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