Dang, someone paid $220+ for an RC no ebay

[eric]

Dang!! I was watching it just for fun and when it ended, I checked again. Over $220 bucks for an RC. It was purty and all original.
Someone here end up with it?

 

[eric rose]

There's one on feebay right now for a BIN of $49.99

 

[M. Valdemar]

It's funny, most people won't bid on a "buy it now" even if it's a ridiculously low price.

They wonder why nobody else bids on it and think something's wrong with it.

But if you list it for 99 cents, it will go up to the moon, because they see others bidding and think it's great.

They don't trust their own judgement. (in non-commodity items)

I've seen it happen hundreds of times, in my own auctions and others.

I'll list something for $199 buy-it-now, no takers. Relist at a dollar, it ends up close to $400 in a feeding frenzy.

Someone should study online auction market dynamics.

.

 

[Al Patterson]

It's funny, most people won't bid on a "buy it now" even if it's a ridiculously low price.

<snip>

Someone should study online auction market dynamics.

I'm sure someone has done such a study. Most likely one of those folks selling you the "How to Profit From EBay" classes.

I have always heard that setting a low initial price with a reserve leads to higher prices than using "Buy It Now".

 

[BigSteveG]

That does seem to be true. I've not been ablr to sell anything yet. I think it's due to the BIN syndrome.

 

[M. Valdemar]

Just set a low price and don't worry about the final price. The bidding will reach the correct market price.

Unless you have very low feedback or lots of negatives, the market usually sets the right price. BIN auctions are usually a disaster, and getting worse.

The "Best Offer" is even worse because, believe it or not, 90% of bidders don't understand how it works.

 

[back alley]

oh man!
i have a mint rc with original oly uv filter and hood...it was my first good camera and no, it's not for sale 😉

joe