Absolute Bargain! Low Starting Price! Don't Miss Out! Bid Now!
So you think you've found an absolutely fantastic, can't be beaten, won't find it anywhere else at the very low starting price of just 1c ... BARGAIN!!!
You've just been introduced to what we believe to be the worst kind of listing - one which often creates a bidding war with buyers often paying more than a) necessary and b) they initially intended on spending!
Before we go into this any further - let me point out that this Guide is unlikely to be popular with sellers who DO choose to list at prices BELOW what they pay for the item + the listing cost - and personally, Lindy's Goodies don't care to point out this practice to ALL buyers! After all, we also buy on eBay and not just sell - so we too have been caught in our early days of buying by these ridiculous listings. These days, we don't even both bidding on them.
So ... we don't expect very high votes on this Guide ... we know Sellers who don't agree with our opinion will definitely vote against us ... but buyers, please understand that we are voicing our opinion on this type of listing for your education and understanding. And how often in history do people become unpopular because they don't fear voicing an opinion ... I don't mind at all being one of them ... so on to the information we'd like to share ...
Why isn't a 1c listing worth bidding on?
Here are a few things to think about before committing to that 'place bid' button ...
Have you looked at the price of the Postage and Handling? Is it some overinflated price for the first item, with just a few cents off for the second and subsequent items that you might choose to purchase?
So what? You might be thinking ... if I win at .5c and pay the postage, I'm still ahead ... you think ... But, are you really? What if you do decide to buy a 2nd item ... would you still be ahead? And, do you really think its fair supporting a seller who 'cheats' his way into getting bids, rather than being honest and starting the bid at a fair price for both themselves (the seller) and the buyer?
So why DO sellers start at 1c?
That's easy - eBay charge them very little for a 1c listing! But as anyone in business will know, you cannot afford to buy stock - assuming it is new - and then reselling for less than the wholesale price they paid. Do you see my point? They couldn't afford to stay in business unless their profit comes from somewhere else - like the postage & handling. Personally, and to many other sellers, it's a less than honest practice, don't you think?
Ok, so you don't care about the over inflated price of postage/handling ...
Have you thought about the potential of entering into a bidding war when bidding on 1c listings?
Let's now assume that the seller isn't inflating their Postage & Handling price. In that case, they HAVE to rely on the item attracting many bids in order to make a profit - otherwise they would be out of business!
So ... let the bidding war begin!
You find that impulsively you bid again when you are no longer the winning bidder. Have you considered that perhaps another seller is selling the very same item at a lower price than what you would now have to bid in order to be the highest bidder? It's impulse. No-one likes being outbid! But really, if you'd looked around before entering the bidding war and simply bid on the item at a fair price, you may well NOT end up in this situation. In many cases, the fair starting price only attracts one or two bids, therefore there is no bidding war and everyone goes away happy - except perhaps the losing bidder, but if the seller has more than 1 item, they may well make a Second Chance Offer anyway.
So ... Here are a few Suggestions ...
- Read the Fine print and fully consider what the FINAL price might be ... including Postage & Handling.
- Does the Final price include Registered Post or would THAT be extra?
- Could I purchase this from a different seller at a reasonable price WITHOUT the need to enter a bidding war?
And at the end of the day - a fair deal for both Seller and Buyer -
And a quick, successful completion of the transaction -
Is the outcome all eBayers should strive for
This Guide has been written with the best of intentions for those who avail themselves of our information. It is not intended to offer ALL available situations/options/responses etc. but we feel it's a 'good beginning'.
Take care and have fun eBaying. Oh! If you think this Guide may be of interest to someone else you know, please ask them to have a read and perhaps show us what you think, by reviewing it for us?