how does 'buy it now' work?

Mary303 · November 12th, 2011, 11:20 PM

Why does the 'buy it now' price change with the bidding in an auction? I haven't tried it yet with a 'best offer.'

How does 'buy it now' work?

Chuck S · November 13th, 2011, 09:27 AM

buy it now price does not ever change physically persay. However in an auction if the current bid is already greater on an item than the buy it now the buy it now price will be that higher price thats just common sense. when you do bids the price of an ad is whatever the current bid is. If the current price ever gets past the buy it now price then your buy it now price goes up. You would not want to sell an item for less when you already have someone paying more money for it.

Mary303 · November 13th, 2011, 09:46 AM

Is 'buy it now' only information? It doesn't appear that I can click on it to go to a payment and complete the sale.

Chuck S · November 13th, 2011, 11:09 AM

If you click the buy it now link you can most definately buy an ad.

Mary303 · November 13th, 2011, 03:24 PM

Quote:

Originally Posted by Chuck S

If you click the buy it now link you can most definately buy an ad.

Thanks, that's incredibly important for the all the users to know. A buyer can stop the bidding. Some auction programs just invalidate BIN once the auction price has gone past that, to allow the bidding to get the highest possible price.

I haven't yet tested this ... can the BIN be edited to remove it once the auction is in progress? Should a seller change their mind about offering it? Or do they need to re-list?

Chuck S · November 13th, 2011, 03:47 PM

Not really sure what your trying to say here. I do not know what a BIN is.

Is an auction is placed it is set for whatever duration and will run until it ends unless the actual seller ends his auction. At the end of the auction time the highest bid wins the item. If a user hits buy it now and buys the item then the auction is stopped otherwise it goes all the way through to time is up.

Mary303 · November 13th, 2011, 07:59 PM

BIN (bin) = Buy It Now price

If a buyer can use the buy it now, the buyer can end the auction. Once the buyer has exercised the buy it now option, the item is sold, so there is no auction to continue.

It's just different ways of doing it. I believe ebay invalidates the bin option once the bidding meets/exceeds that price. At that point bidders have lost the chance to use bin to complete the sale. While the bidding is still below the bin, bidders must decide if they are willing to pay the bin price to be sure they won't pay more. Or, if they don't believe bidding will go that high, then bid under bin and wait it out. Buyers will pay a bin higher than the current bid price if it's worth it to them, and they believe other bidders are likely to bid the price up anyway. Of course the seller is risking missing a possible higher bid price, but on the other hand they can sell the item more quickly by offering buyers a chance to get the item now. That's what some auctions do.

Chuck S · November 13th, 2011, 08:18 PM

Our application works as I have explained above.