Learner question about messages offering cash

[AliBingo]

I have listed quite a big expensive item on Ebay, I had starting bid around £500 and BIN £800, within 10 minutes I had a bid and three messages offering £700 and £750 cash for the item.

How did the interested parties learn about my item so fast? I have saved searches set up but they only email me once a day about these rather than immediately that an item is listed.

I have now had about 10 more messages asking if I will accept X amount cash for the item - the latest this morning offered £1000! Item hasn't been up 48 hours yet.

I don't understand what they want, I can't see any way to legitimately sell for a cash price now, are they wanting me to end the auction early and sell to them outside of Ebay? Sorry if this is a stupid question!

I'd prefer to just let the auction run, as I have told all the enquirers so far - seems like the safest option?

Thanks!

yes, you can end the auction early if you want to. You aren't supposed to sell outside ebay, but many do to avoid the whopping 10% final value fee. And if they are collecting then you would only take cash anyway - never paypal.

I would be suspicious, why would they offer £1000 when they could BIN at £800?

Do they have any feedback or are they newly registered?

pm me the item because I am nosy

if you google ebay scams, this sort of thing is quite common

for example

Thanks for the replies. Because I got a bid for £550 straightaway, the BIN disappeared.

I have 259 feedbacks but haven't sold anything much in a while, I was shocked at the 10% FVF, didn't it used to be just 3%?! Seems very high now.

All the buyers that have contacted me have had high feedback (mostly more than me) which is partly why I was intrigued.

I don't want to reveal the item for privacy reasons but it's an 8 year old cooker that costs about £4k new according to Google (seems utterly crazy to me), I have no idea what it's worth which is why I thought letting the auction run might be the best bet (as well as the Ebay protection).

Thanks for the Ebay scams link, very interesting reading.

I only just recently learned about the sense in taking cash not paypal for collection only items, Ebay is a minefield!

well as long as they pay cash they may well be happy to pay £1K, if the BIN price had vanished then they may not have seen that. I don't think a cooker is much of a high scam risk tbh!

Yeah I think you are right re scam risk. But they must think they can get it cheaper by offering cash I guess? I think I feel happier letting it find its own price via auction.

I was shocked at all the interest and cash offers, I have never sold anything this expensive before! usually more the £10 mark.