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windrider

Determining the bid increment

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windrider

I recently won an auction from a seller and thought I'd look for some other items. There were a few interesting items on auctions ending the same or next day, but I was unpleasantly surprised, the bid increment for small silver earrings was R85. Most of the other items I saw had the same bid increment. They were mainly silver earrings and pendants with semi precious stones, but if I had to bid from R1 or reserve prices I would end up paying more then if I would get them from a shop.

 

So this brings me to my question, does having such high bid increments for cheaper items (in this case silver and semi-precious stones jewellery) help sales? How do the sellers determine the bid increments? It makes sense to me that smaller bid increments for jewellery would encourage buyers to bid more and compete for the items.

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JPBon

Recommended increments are Between R 5 and R10 this from Bid or Buys selling seminar.

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windrider

I wonder if this seller attended one. Well, that would be the first and last time I buy from her. There are plenty of sellers who offer good items without me having to feel that you've been ripped off (that was my impression of the seller) by making one bid.

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lilythepink

I would rather stick to R5 or R10 bid increments and give people the chance to have fun bidding (and, yes, I think this does increase sales). It would be the rare occasion that I, as a buyer, would bid when the increase is over R15.00. My 10c worth ...

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JPBon

The explanation given in the seminar was that the lower the increment the more bids your item stood a chance of getting. Say you expect to get R 150 for an item chances are you would still get a few bids over that and score an extra R20 or so, if your increments were high the bidding would normally stop either short of what you want to achieve or at your target, the chances of going over that are minimal.

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BumbleBee

I have seen many buyers placing high increments on their listings that start at R1. What happens here is the first R1 bid is placed and every one that comes along after that just skips over it because the next bid is too high, the item ends up being sold for R1

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DestinysAngels
I have seen many buyers placing high increments on their listings that start at R1. What happens here is the first R1 bid is placed and every one that comes along after that just skips over it because the next bid is too high, the item ends up being sold for R1

 

:rolleyes:Hi, i agree and to disagree, yes on the R1 auctions some sellers sell crap and then a increment is like R30, but say in my case i sell a reborn doll, it takes hours to make and is a very expensive process, so my increment would be R50, say on a R2,500 doll, because i saw some dolls starting at say R500 and R20 increment and still nothing and then you stand to loose big time, so say i make the reborn at a cost of R2,500 and then start the bid at R2,500 then my increment will be R50, i think that is fair and reasonable, what do you think!

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lilythepink

Destiny - your dolls are superb creations and even at R5 000 each they are absolute bargains. No, on these dolls R50 is a most reasonable bid indeed! :)

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BumbleBee

Destiny, I would personally not take a chance on a R1 auction with those dolls, unless you are very sure you will get your price.

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DestinysAngels

:DGeez, thanks Lily that is really a nice thing to say and B i will not dare put one on for R1, i think i'll die if it sells for that too! Thanks to you both i appreciate that, it just takes time to sell them and looks like the market is abit low for them at the moment, but then again, they have been here for a while now and i think people are getting used to it, it's funny though asa as something is too available then it just lingers, need to think of something better now that might spark a bit! It gets pretty boring seeing the same old things always!

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lilythepink
:D ... i think people are getting used to it, it's funny though asa as something is too available then it just lingers, need to think of something better now that might spark a bit! It gets pretty boring seeing the same old things always!

 

No, I don't think people get tired of seeing your beautiful dolls. I think January and February are never the best selling months and, also, with the current economic situation more and more people are turning a Rand over ten times before spending it. I think your sales will improve! Yes, there are some items which are the "same old, same old" and that is why I take breaks from selling my candles on BoB too often.

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DestinysAngels
No, I don't think people get tired of seeing your beautiful dolls. I think January and February are never the best selling months and, also, with the current economic situation more and more people are turning a Rand over ten times before spending it. I think your sales will improve! Yes, there are some items which are the "same old, same old" and that is why I take breaks from selling my candles on BoB too often.

 

:pThanks Lily, i love the compliments, i do this for the love of my yorkies, it is vital i have income in order to care for them. Enjoy the rest of your evening, lots of hugs!

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windrider

I also think the bid increments should also be determine based on the type of item up on auction. I have no issue if it is a highly priced item with a bid increment of say R50-60. Destiny's reborn dolls for example are collectors items that are highly prized.

 

It makes little sense to do it for less expensive items and it wouldn't encourage bidders so as it was stated earlier, the seller ends up losing out on making a good profit on the item.

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retailrush
Here is a wonderful example of a seller setting a ludicrous bid interval... :rolleyes:

 

Other Fine Gemstones - 8.60 FLAWLESS MYSTIC QUARTZ - Stunning piece from Brazil for sale in Bloemfontein

 

Guess the sole bidder is about to score something for R1 and the seller is going to wonder why?

 

I'm wondering if this is a mistake and should really be a R30.00 increment? Oh well, too late now I guess.

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moppies

I've asked her about the increment - let's see what happens!

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moppies

:oYes it is the minimum bid increment!

 

This buyer is going to score big time!!!:) and the seller ....:mad:

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MsPlod

Wow!!

 

:oYes it is the minimum bid increment!

 

This buyer is going to score big time!!!:) and the seller ....:mad:

 

The seller really is not taking notice of the way that things work on BoB...:confused:

 

Bid increments that size for a gem of that type and size on a R1 crazy! No wonder they are called R1 Crazies....:P Some folks do seriously crazy things!

 

LOL - have just gone to take another quick look and just love the way you asked the question Moppies!

 

Q Is the bid increment really R300 for this item? - Asked by moppies

 

I can just hear the incredulity in your voice...

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RISadler

That's why I like to get my Wednesday bids in early, but I do find it irritating that the system only mentions the bid increment after a bid has been placed (especially since we have no facility to increase max. bid amounts).

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BumbleBee

hehe....she's gonna sell that little rock for a buck ;)

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RISadler

Is it worth any more?

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moppies

The seller is going to have a very bad, dark, unpleasant, cold night!!!! This was really a big risk to take!!

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DestinysAngels

:oAll i can say is Outch!

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RISadler

Actually, it is quite clever.

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moppies

I totally lost it - what is clever?

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