Offer made just hours into my 10-day Auction

[Isittimeformynapyet]

I'm very new to selling on eBay and would appreciate some opinions on the listing I made this afternoon.

The item is a vinyl record that is usually sold by record collectors' online shops for well over £100 (up to £203!) as Buy Now. I realise these other sellers don't really care when they sell the stuff and I figured they are just chancing their arm.

Four hours into my auction I've had an offer of £50. It's not a terrible offer, but I was looking forward to seeing how much it would make in the real world, as it were.

As they've come in so quickly do they know it will likely fetch more than that if they let the auction run? What would you do?

Yes for next time remember that 10 days doesn't necessarily attract more interest, a 7 day auction is just as likely to attract bids, people who are serious collectors will have searches saved to regularly check the listings for items they're looking for and experienced ebayers don't bid until near the end of the auction as they don't want to reveal their hand too soon and get outbid, so 10 days is longer for not a lot to happen. All the main action happens in the last few hours of any auction.

@Isittimeformynapyet how brilliant 😀 let us know the final result OP I’m quite invested now !

and update appreciated

Instead of declining you could have done a counter offer. But tbh, when selling things I’m not entirely sure of how much they will go for, I usually decline offers that aren’t near to the BIN too. Sometimes it pays off - one the other sold for four times the BIN once the bidding process was triggered - some others sold only for just over the start price. I also think, as you say, those listing BIN with insanely high prices, can afford to hang on to them indefinitely, whereas I am pricing to sell because I’m downsizing.

Best of luck with your sales and moving.

The auction just finished at £142!

I'm delighted. It was a box set of 4 Smashing Pumpkins 7" singles from 1994. I'd never even taken them out of their sleeves, so it was in tip top condition.

Thanks those who gave advice for the future. 😀

@Isittimeformynapyet ooooh nice one OP ❤️ thats ABSOUTLEY fantastic, 😀thank goodness you came here and didn’t accept that silly offer, I bet you are delighted, so happy for you thanks for letting us know and maybe other MN’s with smashing pumpkins 🎃

@Isittimeformynapyet also, that must have been a super fan to have paid that and you have made their day so it’s all lovely for both parties ❤️ did you watch the auction live ?

@CalzoneOnLegs Yes I did. It was at £87 earlier today and sure enough, it shot up from 3 seconds to go. I couldn't quite believe it 😲. I'm so pleased.

Congrats!

I remember back in the early days of EBay it was so much more fun. You could see the profile of other bidders on items you might be interested in buying also and gauge an idea from their previous purchases how much they were likely to want it and so would probably bid. I was a ‘stealth’ bidder 😅 and frequently bid in the dying seconds. One time, I got a Nokia phone (yes I’m that old haha) and the seller messaged me something like ‘you got in right at the end there didn’t you?’ - I don’t think he was happy as I think sellers prefer everyone show their hand nice and early for a bigger profit!

@LittlleMy Thank you. I'm well old enough to have had a Nokia brick! The one with the stumpy antenna sticking out the top.