Why You Should Be Participating In Haggling and Best Offer Sites
Why You Should Be Participating In Haggling and Best Offer Sites
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If you sell products on EBay, you may already be somewhat involved in negotiating prices to some extent.
The traditional EBay approach encourages bidders to compete for your products. EBay has made changes that provide for a straight ‘Buy It Now’ price which they are promoting because it is the preferred strategy for super sellers who are not buying low priced merchandise and want to sell for a specific price, not just the best price they can get on a particular day.
EBay also has a second, less available method for bidding known as ‘Best Offer.’ If you are selling an item with a fixed price, you can choose the Best Offer option in the Sell Your Item form. With Best Offer, you give buyers a chance to negotiate the price with you. Each Best Offer is good for up to 48 hours. A Best Offer is binding, just like any other bid. Best Offer is available for listings using the fixed price and Classified Ad formats, and in eBay Motors. Best Offer is not available for auction style listings.
After you receive a Best Offer, you can choose to:
- Accept the Best Offer and end the listing.
- Decline the Best Offer. You can explain your reasons to the buyer if you want to.
- Respond with a counteroffer. If the buyer does not respond within a reasonable amount of time, you can let the counteroffer expire.
- Let the offer expire after 48 hours or when the listing ends, whichever comes first.
This approach may make sense when you want to sell something, would like a specific price but do not want to use auction plus reserve because customers do not like it and, in the end, would be willing to sell for something less if you have to. Best Offer gives you the chance to see what people are willing to pay without having to accept anything below your stated selling price.
Now there are sites being established that focus on this negotiating or haggling aspect of selling. Sites such as Deal4it, Bonanzle and Dealitlive are based on negotiating either through back and forth messaging or in real time.
Two new sites, Wigix and Aroxo, take this idea a step in a different direction. They allow buyers to name a price for an item and provide vendors the opportunity to sell at that price with some levels of matching involved. They get a fee based on selling price. These sites are the merchandise equivalent of travel and entertainment sites that match unused rooms or unfilled trips with people who are looking for a bargain.
Another new entrant, Eneksis, provides an application that allows you to post a ‘make an offer’ option in your shopping cart.
Why would you do this?
Obviously, you want to sell your merchandise at the price you establish. However, you do certainly lower the prices for sales and promotions. You may want to look at this technique in a similar way. Consider the best offer approach for overstock that you want to move or items no longer being produced.
You may want to keep this strategy separate from your own website. You do not want to encourage buyers to think that if they wait, they will be able to make an offer on anything and everything you sell. Give it a try in this limited way and see if it helps you with your inventory issues.
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