Bin or best offer....

[buzzhead]

What do you guys think is a good rule of thumb for a best offer I usually set mine to auto accept around 10% off... Most of the offers a get are lowball and get rejected as soon as I see them.


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[Tuberale]

It has been my experience that eBay offers are often 10% of value, unless graded by PCGS or other source. For that reason I currently am buying. Fortunately, cycles change,

 

[buzzhead]

It has been my experience that eBay offers are often 10% of value, unless graded by PCGS or other source. For that reason I currently am buying. Fortunately, cycles change,

You're a coin man I see. I use my proceeds from eBay for ag/au! I'll flip whatever I can buy cheap to make profit to buy it! I've got a bit of everything listed.

 

[ethanfez]

I have a sword listed right now for $1300. I usually don't have any automatic accepting price because I like to see everything and do it myself but for this one I put $1000. If none of yall have ever listed a high vale item on eBay people love to send offers less for 5% of your listed value. At first it made me laugh but then it got annoying.

 

[kcm]

I have a sword listed right now for $1300. I usually don't have any automatic accepting price because I like to see everything and do it myself but for this one I put $1000. If none of yall have ever listed a high vale item on eBay people love to send offers less for 5% of your listed value. At first it made me laugh but then it got annoying.

That's a difficult one for me, as I take it as an insult. That's one of my concerns about becoming a seller on eBay....or anywhere else online, for that matter.

 

[ethanfez]

That's a difficult one for me, as I take it as an insult. That's one of my concerns about becoming a seller on eBay....or anywhere else online, for that matter.

I take it as an insult as well. I laughed because it is so low it is stupid.

 

[gunsil]

I see tons of items listed with BINs that are so high 10 or 20% of the BIN would be a reasonable offer. People who have good stuff often start their auctions at 99 cents and still get 500-1,000 bucks or more because they and the buyers know the value. Of course this applies to quality collectibles or quality new items. To me most people who use the BIN or best offer feature are just fishing and know little about the actual value of what they have or they have a ridiculous notion of an item's value. I just laugh at those high BINs and move on.

 

[mugsisme]

I got an offer that was 40% of what I was asking. I was so annoyed and insulted. It's like they figure you will offer back at 60% cuz you will be so happy to sell. I mean, I had a box of jewelry priced at 20 bucks OBO. I got an offer for $8. Uh huh, sure. No prob. NOT. I countered $15, which is what I had auto-accept set at, and they said yes.

 

[Honest Samuel]

I do not buy or sell on E bay. Too many cheaters.

 

[smokeythecat]

Lots of idiots too. Like which part of "ships to US only" don't you understand? Had to cancel some bids last week. Haven't had the time to make the listing invisible outside the US but fortunately I don't sell much on Ebay, just buy.

 

[buzzhead]

Yep. Shipping a razor to Switzerland tomorrow... People can't read... Or choose not to...


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[jerseyben]

Good grief...

 

[diggummup]

To me most people who use the BIN or best offer feature are just fishing and know little about the actual value of what they have or they have a ridiculous notion of an item's value. I just laugh at those high BINs and move on.

This may be true for some sellers but not me. I will always set my BIN at the upper middle range of recent sold prices with an acceptable best offer on the bottom end of that scale. My objective is to buy low and pass that savings to my buyers while still making a good profit on my end.

I (personally) know people that use the .01 auction start and I know other people that get top dollar for everything. The penny auction guy is a middleman, so of course the items he takes in to sell will command bids because they are upscale collectibles, as you mentioned. The my lady friend who sells at top dollar BIN only (no best offers), has been selling since ebay started and has a following of committed buyers. She is a very picky buyer and will only buy items in top condition. This is how she gets top dollar. Unfortunately she has end stage cancer and won't be with us much longer. Her sister is actually doing her listings now.

Good grief...

Agreed. There are ways to avoid all this crap if you actually take the time to do it instead of complaining about it. If you don't want to look at offers less than your willing to accept, then set your listing that way. If you don't want to sell to Luigi from Bologna, then set your preferences correctly.

Now, as for the original question...What do you guys think is a good rule of thumb for a best offer?

Myself, I usually set my BIN price 20-30% higher than the lowest amount I would accept.
Then I put that lower dollar amount in my best offer listing to "Automatically decline offers lower than$__"
This takes care of the stupid offers.

 

[trdhrdr007]

This may be true for some sellers but not me. I will always set my BIN at the upper middle range of recent sold prices with an acceptable best offer on the bottom end of that scale. My objective is to buy low and pass that savings to my buyers while still making a good profit on my end.

I (personally) know people that use the .01 auction start and I know other people that get top dollar for everything. The penny auction guy is a middleman, so of course the items he takes in to sell will command bids because they are upscale collectibles, as you mentioned. The my lady friend who sells at top dollar BIN only (no best offers), has been selling since ebay started and has a following of committed buyers. She is a very picky buyer and will only buy items in top condition. This is how she gets top dollar. Unfortunately she has end stage cancer and won't be with us much longer. Her sister is actually doing her listings now.

Agreed. There are ways to avoid all this crap if you actually take the time to do it instead of complaining about it. If you don't want to look at offers less than your willing to accept, then set your listing that way. If you don't want to sell to Luigi from Bologna, then set your preferences correctly.

Now, as for the original question...What do you guys think is a good rule of thumb for a best offer?

Myself, I usually set my BIN price 20-30% higher than the lowest amount I would accept.
Then I put that lower dollar amount in my best offer listing to "Automatically decline offers lower than$__"
This takes care of the stupid offers.

Couldn't have said it better myself.

 

[mugsisme]

Skippy, well said. Except every single time I counter, they never reply. For instance, let's say I have a pair of 14k diamond earrings that new in the store cost $500. I see similar ones sold for $250 used. I price mine at $225. I get an offer for $75. Uh, no way. I counter $175. And I never hear from that person again. I'm just making up numbers, but you get the idea.
I had a pearl necklace where the same lady tried 3x to get it for $25. I countered $50 each time. It sold last month for the full $80 I wanted. Not to her, but oh well. Good for me.

 

[diggummup]

I agree mug and it's the same for me. Haggling in person and haggling on ebay are two different animals in my own experiences. The ebay hagglers usually don't haggle back. Most of the time when I send a counter offer, I never hear back. Never was much "conversation" involved, so I stopped wasting my time and set auto reject appropriately. Last example was on a listing where I forgot to use auto reject, item was priced at 199.99 w/free shipping, similars have sold for between $150 up to $300 depending. Got an offer of $100. Countered with $125 (I paid $40), didn't hear a peep, several days later I took a best offer of $175 from another buyer.

I will say that any seller that is using the best offer option should be willing to take off a very minimum of 20% or you really shouldn't bother using it. It's kind of fruitless in my opinion. Also consider when using this option whether you are offering free shipping with the item, that will affect your best offer bottom line also.

 

[dieselram94]

Ok, I don't mean to make anyone mad with my comment here but what's the big deal? If you don't like a low ball offer just click decline... I personally LOVE haggling!!! That's the fun! I'm never insulted from a low offer and often do have a conversation with a buyer through the terms section of the counter offer. I have had great success selling with best offer! People love to feel like there getting a deal!
Trust me if I list on eBay a item say at $100 I have $30 or less in it. I'm not here to loose money and I'm always up for giving a deal.
Same when I'm buying, I'll often low ball and sometimes get a unreal deal from a desperate seller. If a seller is offended that easy...well screw em! I'd rather cut off dealings right there than try to deal with a ultra "sensitive" seller if a real issue was to arise...


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[jerseyben]

I was recently in a position to sell 2 key date coins in person. My asking price was $140 for the pair. The buyer asked my best price. I said, I can take 10% off. Buyer immediately replied he would offer $100. I replied that best I could do would be $120, which is actually like 15% off. He insisted on paying $100. I declined. An hour later he made the same $100 offer. Every time he offered, I simply replied "no thank you". A hour later he paid me my $120.

Just remember to know what you have. In this case, it was 2 key date coins (in low grade) that are always in high demand. I was being generous offering them for the $120 but the buyer did not want a good deal. He wanted a steal! At the end of the day I did not really need to sell these coins and I knew if I really "tried" to market them, I could have easily gotten my original $140 asking price.

 

[dieselram94]

I was recently in a position to sell 2 key date coins in person. My asking price was $140 for the pair. The buyer asked my best price. I said, I can take 10% off. Buyer immediately replied he would offer $100. I replied that best I could do would be $120, which is actually like 15% off. He insisted on paying $100. I declined. An hour later he made the same $100 offer. Every time he offered, I simply replied "no thank you". A hour later he paid me my $120.

Just remember to know what you have. In this case, it was 2 key date coins (in low grade) that are always in high demand. I was being generous offering them for the $120 but the buyer did not want a good deal. He wanted a steal! At the end of the day I did not really need to sell these coins and I knew if I really "tried" to market them, I could have easily gotten my original $140 asking price.

Exactly.