Excellent EBay BIN News

[joe_collector]

Tired of deadbeats taking the BIN and skipping town? Well, for the first time, EBay is actually introducing a welcome feature, the "Pay for the BIN NOW, You Freaking Deadbeat" option:

 

In the next two weeks, we will introduce a new payment option that provides buyers with a convenient, retail-like purchasing experience. It also helps reduce the likelihood that a Buy It Now item will be ended by a buyer who does not intend to pay, making it unavailable to a buyer who really wants it.

 

If the seller chooses to use this payment option, buyers will see a notation next to the Buy It Now button stating that the seller requires immediate payment. After clicking the Buy It Now button, the buyer will be asked to complete payment through PayPal, which handles credit cards, PayPal funds, and other instant payment methods. Once the payment is confirmed, the listing will officially end. Until a buyer completes the payment, the listing will continue to run.

[greggy]

So...2 people could conceivably hit the BIN but the one who pays first gets it?

[joe_collector]

Yeah, I was just thinking about that myself, and here's what EBay says:

 

Even after you click the Buy It Now button to begin the payment process, the button will still appear when other buyers view the item. Only after your payment is confirmed will the listing end. Multiple buyers can be trying to pay at the same time, and whoever confirms their payment first will get the item.

 

Sounds like a Paypal scam, as if you initiate a transfer, it's not like it's going to immediately stop once the "winner" is confirmed. They'll all be confirmed (especially for a hot BIN "purchased" by multiple buyers, seconds apart), and then refunds will have to be made.

 

Imagine the scams possible with this. A guy lists a ton of Hulk 181's at $200 BIN, and racks in zillions, and never issues refunds.

 

When I read the announcement, I assumed hitting the BIN would freeze the auction from other buyers, but if the guy didn't complete the payment, it would be tossed back in the pot. This method sounds like scamola city.

[fazman]

What are the odds of 2 people BIN at the same time or even seconds apart ?

The idea is good, but I can forsee some problems.

I am sure that once in place that Paypal/Ebay will sort out the problems. ( We hope )

[joe_collector]

What are the odds of 2 people BIN at the same time or even seconds apart ?

 

Pretty darn good on a crazy BIN deal. I've personally missed three separate Hulk 181 BIN's (at $10-$20) by milli-seconds, and I'm probably not the only one.

[greggy]

Pretty darn good on a crazy BIN deal. I've personally missed three separate Hulk 181 BIN's (at $10-$20) by milli-seconds, and I'm probably not the only one.

 

Mmmm....could you have imagined the chaos that would have happened on the FF 52 CGC 9.6 that FF got but others wanted? Imagine all the payments going through the seller's PAYPAL account.

[BronzeBruce13]

Yeah, I was just thinking about that myself, and here's what EBay says:

 

Even after you click the Buy It Now button to begin the payment process, the button will still appear when other buyers view the item. Only after your payment is confirmed will the listing end. Multiple buyers can be trying to pay at the same time, and whoever confirms their payment first will get the item.

 

Sounds like a Paypal scam, as if you initiate a transfer, it's not like it's going to immediately stop once the "winner" is confirmed. They'll all be confirmed (especially for a hot BIN "purchased" by multiple buyers, seconds apart), and then refunds will have to be made.

 

Imagine the scams possible with this. A guy lists a ton of Hulk 181's at $200 BIN, and racks in zillions, and never issues refunds.

 

When I read the announcement, I assumed hitting the BIN would freeze the auction from other buyers, but if the guy didn't complete the payment, it would be tossed back in the pot. This method sounds like scamola city.

 

 

I imagine Ebay had to consider this and have it worked out, otherwise it would be more problematic. Perhaps they have it set up that ONLY one payment can go through with the particular BIN auction number?...even if its a fraction of a second. Since Ebay and Paypal are certainly on the same page, that should not be too difficult. I tried to pay for an auction I had already paid for, but forgot that I had. When I tried to pay, the Paypal system recognized that a payment was already made for that auction #. I'd guess that's how its going to work.

[joe_collector]

Maybe, but I keep seeing things like "you will not be charged" comment on the EBay FAQ pages, instead of "the Paypal transaction will not be completed", which would make me feel a whole lot better.

 

My Credit Card company once told me that "you will not be charged" when a fraudulent purchase was put on my card, but that didn't stop the charge from staying there 3-4 months.

[drbanner]

Sounds like a Paypal scam...they'll all be confirmed....by multiple buyers...seconds apart...refunds will have to be made...scams possible with this...a guy racks in zillions...never issues refunds...sounds like scamola city.

 

Are you trying to parody yourself, or are you really that cynical? This has to be a parody b/c it's almost laughable...in fact, it is!!

 

The person who confirms payment first gets the item, the four thousand seven hundred and ninety-four other people stuck for those few, ever-so-precious seconds between hitting the BIN button on ebay and receiving the payment confirmed notification in Paypal don't. Just like a BIN works now, the rest of the population of the small city trying to win the item will lose "...by milliseconds."

 

Too much!!

[greggy]

Awww.....you guys were actually being corgial yesterday regarding the auction software!

 

Now...back to the fight to the death!

[drbanner]

Hey, there's a time and place for everything! And anyway, I'm supposed to have two personas by the inherent nature of my user id...

 

I figured it's a joke as this post is titled "Excellent...News", not "Another Paypal Scam"!

[BronzeBruce13]

Maybe, but I keep seeing things like "you will not be charged" comment on the EBay FAQ pages, instead of "the Paypal transaction will not be completed", which would make me feel a whole lot better.

 

My Credit Card company once told me that "you will not be charged" when a fraudulent purchase was put on my card, but that didn't stop the charge from staying there 3-4 months.

 

I understand, they should be saying "Your Paypal Account wont be charged" to specify. Otherwise, one could conclude that they mean your CC (but PP will register a charge, temporarily at least). What also makes me feel that this has to have been worked out (so that only one payment will go through) is the fact that some could pay by PP balance or bank transfer and be completely at the seller's mercy for a refund. Also, what seller would want to choose this option if there was a possibility he may have to manually refund several payments that were completed? He may also have the additional headache of explaining why the owner of a payment that went through, but was not the "winning payment"...lost. If the scenarios you raise are all a possibility then the minds behind this are very weak not to consider all the potential problems... I bet I'm right.

[joe_collector]

Of course EBay has probably worked out the potential issues, but I'm gonna wait until they specifically spell it out before jumping too far on the bandwagon. Great idea, but the BIN should be "temporarily frozen" once the first person hits it, and if a few minutes later the chump hasn't paid, then light it up again.

 

This whole "mad rush for Paypal" sounds like more trouble than it's worth.

[Darthdiesel]

Consider this scenario - those paypal users that" screen" their payments...ie, the paypal seller has to accept/deny payments being sent into the system before it is registered as paid. Just because you hit the bin first and go thru the motions of paying does not mean that you have "paid" and the transaction is complete. It is actually once the seller has "accepted" payment that it is all over. Now what if the seller sees several pending payments for the same itema nd decides to pick and choose based on arbitrary criteria (like lfeedback rating, familiarity) to decide who will get the one item?

 

Also there is an added responsibility for the seller to deny the remaining payments once he has chosen who gets/has paid for the item. What if decides to accept them all and run off?

[Rickdogg]

One thing I don't like about this is the loss of money order business. Some people (ie clobberintime) only pay via money order, so that kinda sucks

[garthgantu]

I guess my biggest objection to this would be the fact that you HAVE to use Paypal. I'm not a Paypal fan... used the service for a couple months, spent $2,000, and then was told I had to associate my Paypal account with my bank account? Ridiculous. They already had a solid credit card associated with the account. Felt like Big Brother.

 

So now I pay via mail. Doesn't make me or the sellers that I buy from particularly happy 'cause of the delay, but I'm not knuckling under to Paypal.

 

This feels like a way to get everyone towing the Paypal line...

 

Garthgantu

[ArAich]

 

Paypal = eBay

eBay = Paypal

 

 

'nuff said....

[Rob]

It sounds like the seller has to select this option, and it's not default.

 

"If the seller chooses to use this payment option, buyers will see a notation next to the Buy It Now button stating that the seller requires immediate payment."

[Rickdogg]

It sounds like the seller has to select this option, and it's not default.

 

"If the seller chooses to use this payment option, buyers will see a notation next to the Buy It Now button stating that the seller requires immediate payment."

 

Hmmm, that's nice to know.

[Rob]

Looks like Rickdogg took advantage of the ability to change our names (as did I).