eBay Australia have just announced that Buy It Now prices will be kept available until bidding reaches 50% of the BIN price. Currently, of course, BIN prices disappear as soon as the first bid is placed (or when bidding reaches the reserve price).
This is great news for sellers. We should see the end of the “BIN-killer” bid, where a buyer will bid the opening price just to ensure that no one else can BIN the item. Too often these days, that means that they’ll win the item for the opening bid price. Keeping the BIN price available should push average selling prices up, as well as giving buyers the convenience of Buy It Now for longer.
One Response
Please please please can we have this in the UK! 😀