In any case, I've decided to stick with my $.99 and free shipping strategy, but I'm of two minds about whether I should set a "Buy It Now" price or not. You see, I'm listing an evening gown tonight and I'm reminded of what happened with the orange skirt (I know, I'm obsessed with that thing). If I had set a Buy It Now price on that skirt, it would have been MUCH lower than the price it eventually sold for. I'm also afraid buyers will be put off if I set a Buy It Now price that is too high. Also, setting a BIN ("Buy It Now") is akin to setting a "cap" on the bidding. After all, why would anyone continue the bidding if they can guarantee they will get the item for a small difference by using the BIN?
Any suggestions? For those of you who are eBay buyers, what do you think when you see an auction with a low starting bid but high BIN?
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As a frequent Ebayer, I've had both positive and negative BIN experiences. I'm often drawn to CERTAIN items that include a BIN because I have control over when a purchase occurs. This is especially helpful if I am trying to secure a unique item by a specific date (i.e. a birthday gift.) On the other hand, for items that are more commonly found, or less urgent, I've been dissuaded by a high BIN price. Regardless of how low the current bid is, I've found myself saying “if they think someone will BIN for $250 there is no way my $20 bid will last” and I've moved on without ever bidding.
IMO, An evening gown is likely unique, so it depends on timing. Is it prom season? Could someone be desperate to get it by Friday? If so, I think BIN could secure you a sale, even at a high price
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