BIN Vs. Auctions

[Kane]

When you are selling products online, you can sell through two methods, one, Buy It Now (BIN), and two, Auctions. When you run an auction, you might be able to get higher prices when people start bidding on your listing. However, setting a competitive "buy it now" price can be a faster way to sell your products online. It is very important to select a convincing price to boost actual sales. Pricing high doesn't guarantee sales

 

[Riberet19]

I generally prefer auctions, for example on eBay, I have sold quite a few items on that platform and it is quite easy, but as you say, the most complicated thing is to find an interesting price for potential buyers, the "buy it now" option is also useful but I have never used it.

 

[Good-Person]

When you are selling products online, you can sell through two methods, one, Buy It Now (BIN), and two, Auctions. When you run an auction, you might be able to get higher prices when people start bidding on your listing. However, setting a competitive "buy it now" price can be a faster way to sell your products online. It is very important to select a convincing price to boost actual sales. Pricing high doesn't guarantee sales

People usually bid on certain kinds of products. For example, bidding is a very important process of financial institutions to get the highest price possible. This is why they organise auctions for that. They organise auctions on mortgaged properties, etc. They may manage to get a higher price in that case. "But It Now" business method is used by individuals and other kinds of businesses as well.

 

[Kane]

People usually bid on certain kinds of products. For example, bidding is a very important process of financial institutions to get the highest price possible. This is why they organise auctions for that. They organise auctions on mortgaged properties, etc. They may manage to get a higher price in that case. "But It Now" business method is used by individuals and other kinds of businesses as well.

MY question is how do you sell your products, do you offer Buy It Now, or do you want for highest bidders through an auction. Sometimes I put the product on auction but also set a buy It Now price, for instance, I offer two options, one, bid a certain amount or buy it for the stipulated price.