Why do sellers do this?

[zarzuella]

I know that this is an open market, but . . .
I got a good deal on half a dozen pristine copies of a recent horse book at a couple of bucks each, and listed one at $5.95 starting price. It went for $22.50, and the second bidder picked up the 'second chance' at $22.00. Yippee! think I - a nice little profit maker. I go to list another copy and see that a US PS has listed the same book for BIN $9.95.
Why would someone do that? Don't they research first? Competition is one thing but this just kills the golden goose!
Thanks for listening to me whine
Ann

[jaymor8]

Ann - my sweety has the same problem with computer batteries. He pretty well have a great thing going for a good while and he made nice money on them. Then all of a sudden the market is flooded with sellers putting BINs at ridiculous amounts and now he can't get a decent price for them. So, all he can do is wait for the other market to dry up and then he can go back. But, I sure know what you mean.

Good luck,

Jackie...

[amberwoodottawa]

I had the same problem. In the spring I was the only one on eBay selling blue and purple violins and they were gone in a matter of a few weeks selling for as much as $275 US each.

I received a new shipment in just before December, listed them but got no sales. I did a search on eBay.com and all of a sudden there are all these US Music stores selling blue violins on eBay with BIN at $150 US.

No problem for me as can I sell mine (and better quality) for less than than they can purchase thiers for so I have been selling tons over Christmas with a $110 US reserve and a BIN of $135 with bidding sometimes getting me $175 for the instruments.

Its nice to beat the wolves at their own game once in a while.

Malcolm

[ospreylinks]

You bought for a couple of bucks and sold for $22.00... yikes.... whats that about a billion % margin.... hmmm sounds a bit like Bre-X. (and we all know what happened to Bre-X) Good things can't go on forever, so cash in quick and move on...

To me that strikes me as just lucky, after all your starting price was $5.95, so that was still below the US BIN offer....so had the item not been bid up, wouldn't you have been satisfied with the $5.95...(well I guess not now, knowing you could get in excess of 20 bucks)

Jeff

[shooger]

I guess that's finance for you! Isn't supply and demand a main concept? I think that you were lucky to get those two inflated prices, and should be glad. Competition is what drives the market, so you have to compete or get stepped on.