Are 0.99 starting bid auctions considered gambling or smart marketing?

[HighStakesComics]

Excellent point. It is wise to stay nimble and diversify your listings. A little of this and a little of that seems to work best for me. You will never potentialize 100% on every book.

[Jaylam]

I think a lot of factors go into if a book does better at BIN or open auction. I've had success and failure at both ends. The market is tricky and you must have somewhat of a handle on what you are trying to sell. I had a book up at BIN for a few months at $225. During the course of that listing I had about 19 hits with 2 watchers and not so much of a nibble from anyone. Finally I said screw it and went with a 7 day open auction starting at $0.99. Within one day I had more hits and more watchers than the previous 2 months at BIN and had a few bids on it already. In the end it sold for $259; $34 more than my original BIN price, so go figure.

 

[Junkdrawer]

I think a good strategy is to put your items up at a BIN and watch your views and watchers. When you have accrued a decent amount of watchers, only then send it to auction. You will be assured that you have those important watchers to give your sale foundation. Again starting an auction at $.99 will generate a higher bid count and others will see that and know it's a good item. There will be interest. Much more than a BIN or a Reserve not Met. Truly nobody can say what would have could have happened if you elected to sell out right or auction. You have to have a win some lose some attitude. Also have a reason for selling. I generally will let something fly if I have another smarter purchase to make. Divesting to reinvest isn't always a bad thing. Sometimes you just got to get out of Dodge and move on.

[HighStakesComics]

Some great pearls of wisdom out of you, JD.

 

Another nice thing about BIN's is the ability to control sales for tax purposes. If you use first in last out accounting you probably don't want to list half your collection at $.99 auctions this time of year. If you sell books outside of a business entity the tax rate is 28% (cap gain on collectibles)

[kav]

The NM98 will do better in auction because the market will determine the price. BIN not so. As I said, if it's a book in demand, auction. Not in demand, BIN.

I sold a Marvel No Prize in auction for $20. Turns out it was resold as BIN for $70. It's not in that much demand, so people aren't always looking for it-in that case a BIN and wait would be better. NM 98 will always have people seeking it.

[Junkdrawer]

(thumbs u

[Boba]

Gambling

[Wilson3d]

Around a year ago I had a Batman #1 new 52 RAW 9.8 for BIN for around $85.00. I played around with the price a few times and no luck. I posted as a 0.99 cent auction with free shipping and a week later it sold for $98.00. I agree with the BIN start and after a while (if the book has some legs) go for the auction.

[HighStakesComics]

Gambling

 

Gambling..........

 

Love the BB 54 & 60 combo pack BTW. That's a great idea!

[Boba]

Gambling

 

Gambling..........

 

Love the BB 54 & 60 combo pack BTW. That's a great idea!

 

Thanks (thumbs u

 

At least there's an extra couple of "9"s in the price, so I can't get totally hosed

[Aweandlorder]

I call it gambling because of this reason only:

You can sell a thousand books at BIN for what the book is worth and you will be happy and a prosperous business man/woman

But once you see your first drek close at 20+ dollars you will be HOOKED on auctions, and even after exhausting your entire collection on .99 cent auction and see it close for pennies on the dollar, you'd still refer to that one drek book that closed at 20+

[Boba]

Gambling

 

Gambling..........

 

Love the BB 54 & 60 combo pack BTW. That's a great idea!

And what's cool is someone hit the B.I.N. on this lot! (thumbs u

[Griff]

I love ones that start at 99 cents as a buyer Since I set my price and stick to it ! I've gotten a bunch of good deals on books that did not attain their true value.

 

that said as a seller I would NEVER do this !

[Boba]

I just had my second recent request to cancel and order. That's 2 in less than 2 weeks. There is nothing to hold a buyer responsible for their actions, it's like a free-for-all. Definitely eBay has a place in my portfolio of selling venues, but it's become a cesspool of unreliable and irresponsible buyers tire-kickers.

[slym2none]

As sellers, we need to be able to leave negative feedback. It really is that simple, eBay.

 

 

 

 

-slym

[kav]

Back when they did that, every seller left retaliatory FB so all buyers were afraid to leave negs so know one knew who the miscreants were

[kav]

How would it work anyway-sellers with hundreds of listings would have to constantly check all bidders and their FB then constantly go around cancelling bids and blocking bidders just based on some retaliatory FB from a bad seller?

[Aweandlorder]

eBay will do anything they could and would to strip sellers off their Top Rated status, so you would keep doing your hardest to achieve something that is impossible to retain, let alone achieve.

 

[Hiro]

I agree it's gambling to start bid auctions 0.99. I usually start my auctions a few dollars less

than FMV to factor in the cost of shipping for the buyer. Will sometimes offer free shipping,

but factor that into my price. Recently had a raw Batman 386 listed with free shipping.

The auction ended with watchers, but no bids and before I could relist, I received a message

from a buyer saying he wanted the book but missed the auction end. If I would relist as a BIN

for $10 more than the price I had it previously priced at, he would buy it. I did and he did!

Surprising, but wish all my sales could end that way!