OMG it's gone in less than five minutes

[plandy]

I listed a Santa Cruz in eBay yesterday, finished posting, guess I will have to wait for it to be seen. Walking from the living room to the kitchen, sat down, and the phone rang with the cashier box sound. And there I knew the bike was sold. Less than five minutes. Got me thinking if I had listed it for too low.
Anyway, there will be a happy rider soon.

[paredown]

I listed a Santa Cruz in eBay yesterday, finished posting, guess I will have to wait for it to be seen. Walking from the living room to the kitchen, sat down, and the phone rang with the cashier box sound. And there I knew the bike was sold. Less than five minutes. Got me thinking if I had listed it for too low.
Anyway, there will be a happy rider soon.

Good problem to have.:beer:

[Dead Man]

Kinda sucks when you end up feeling like you way under sold a frame, especially if you liked the frame.. I've had that happen a couple times.

I let a custom Davidson Ti frame go for $750 a couple years ago.. it was gone in like 5 minutes, and I got several follow-up emails from people making sure it'd really sold and claiming "next in line," so I definitely ended up feeling like I went too low on that'un... but at the same time, as someone who has been on the receiving end of some fantastic deals, I know how rad it is... so the feeling that someone got a great deal on a bike they're going to absolutely love definitely helps counter the feelings of seller's remorse.

If nothing else, I've really learned in the last couple years the value of money: very little. The stuff just isn't that important. It comes, it goes, and it always comes again, and it's everywhere and there for the taking. NBD.

[chiasticon]

could be worse. could be a job interview where they ask: "what are your salary requirements?" and then agree to the first number you throw out.

congrats on the sale! :hello:

[Dead Man]

could be worse. could be a job interview where they ask: "what are your salary requirements?" and then agree to the first number you throw out.

congrats on the sale! :hello:

heh.. I've had that one too.

But that's OK also - lets you gauge how much more you're going to ask for in 6 months of exemplary performance

[plandy]

Kinda sucks when you end up feeling like you way under sold a frame, especially if you liked the frame.. I've had that happen a couple times.

I let a custom Davidson Ti frame go for $750 a couple years ago.. it was gone in like 5 minutes, and I got several follow-up emails from people making sure it'd really sold and claiming "next in line," so I definitely ended up feeling like I went too low on that'un... but at the same time, as someone who has been on the receiving end of some fantastic deals, I know how rad it is... so the feeling that someone got a great deal on a bike they're going to absolutely love definitely helps counter the feelings of seller's remorse.

If nothing else, I've really learned in the last couple years the value of money: very little. The stuff just isn't that important. It comes, it goes, and it always comes again, and it's everywhere and there for the taking. NBD.


Actually I didn't feel sad.
I totally agree with you. Selling a little lower price isn't the end of the world.
The receiving party's joy of getting a great deal is well worth it.
:banana::banana::banana:

[jimcav]

I listed a Santa Cruz in eBay yesterday, finished posting, guess I will have to wait for it to be seen. Walking from the living room to the kitchen, sat down, and the phone rang with the cashier box sound. And there I knew the bike was sold. Less than five minutes. Got me thinking if I had listed it for too low.
Anyway, there will be a happy rider soon.

when i find out the buyer is a bike stripper/flipper. oh well it beats meeting CL deadbeats who waste your time and lowball

[pdmtong]

time is money.

For large items, I would rather take a little less and be done immediately than waiting months to get that last little bit.

[bewheels]

For me, I set a minimum price that I am willing to sell something. If that is met in 5 min, that is a perfect sale in my mind. Got the price I wanted and don't need to deal with it anymore...perfect.

[JWDR]

time is money.

For large items, I would rather take a little less and be done immediately than waiting months to get that last little bit.

I'm with you. Often I would rather just get it over and done with. I'm not doing it for a living and my time has a value.

[fuzzalow]

I do not generally participate in the secondary market in bikes & bike stuff. But I sold many frames when downsizing in moving from a house in the burbs to an apartment in the city.

Sold cheap as dirt with no regrets whatsoever. Don't care, just wanted the stuff gone, outta here. I left an early 2000's Cinelli SC on the front lawn near the driveway for a week half-hoping somebody would take it so I wouldn't have to move it. I lived in a nice town, that frame was never touched. Today it sits on a shelf in a closet.

I still have unused 10-speed Campagnolo sitting in boxes, I'm too lazy to list them to get rid of 'em. I gotta get my ass in gear and get this stuff outta here. Nobody's fault but mine that it hasn't.

[-dustin]

did it actually sell? i tried selling an Omega Planet Ocean on eBay. it "sold" 3 times, each time was a scam. no big deal, right, just relist...till i got hit with $600 in selling fees.

[commonguy001]

did it actually sell? i tried selling an Omega Planet Ocean on eBay. it "sold" 3 times, each time was a scam. no big deal, right, just relist...till i got hit with $600 in selling fees.

The fees make me cringe on fleBay now and I haven't used it to sell much of anything in what feels like forever.

I've had pretty decent luck here and even on my local Craigslist where I can take a little less and save on fees. Also helps to be really realistic on what my stuff is worth.

Saying that, when something sells in hours it does make you wonder how much you left on the table even if you got what you wanted.

[likebikes]

link?

[Dead Man]

did it actually sell? i tried selling an Omega Planet Ocean on eBay. it "sold" 3 times, each time was a scam. no big deal, right, just relist...till i got hit with $600 in selling fees.

If you cancel the transaction, eBay voids out the fees - recently had a giant frame a dude bought not realizing it was about 4 sizes too small.. I cancelled the transaction on the drop down menu on my selling page and the fees were eliminated.

[-dustin]

If you cancel the transaction, eBay voids out the fees - recently had a giant frame a dude bought not realizing it was about 4 sizes too small.. I cancelled the transaction on the drop down menu on my selling page and the fees were eliminated.
weeks had passed before i saw the fees. i didn't get any sort of notification and assumed that since i had relisted the item, there were no fees. i was wrong. i contacted eBay and they removed the fees.

[pdmtong]

The fees make me cringe on fleBay now and I haven't used it to sell much of anything in what feels like forever.

I've had pretty decent luck here and even on my local Craigslist where I can take a little less and save on fees. Also helps to be really realistic on what my stuff is worth.

Saying that, when something sells in hours it does make you wonder how much you left on the table even if you got what you wanted.

this is a popular myth, that the item was priced "too low"

the only way to prove this is if the buying process had a queue, and we could see how many people wanted the item at this price.

if a house is worth $1M and is listed at $500k, there will be 100s of offers on day one. now you know you are too low. oops.

but here, there is ONE offer. and that's all. that may be the only person who cares, it may be the first person who cares, either way this does nothing to indicate the market demand.

you have to separate the timing/speed from the price. what if the buyer had been looking for months for that or similar item. lost out a bunch of times, finally decided that next one he sees at xx price he will buy. the listing pops up, he sees it, bam buys it.

all this proves to me is that a buyer was found at the listing price.

[plandy]

Well, in my case, I listed it as an auction with buy-it-now, starting price is what the least amount I would like to get subtracting all the fees and shipping charges.
I usually would list on eBay and also local CL and pinkbike too. I do agree with some of you that sometimes its good to get a little bit less and get it over with......

[commonguy001]

this is a popular myth, that the item was priced "too low"

the only way to prove this is if the buying process had a queue, and we could see how many people wanted the item at this price.

if a house is worth $1M and is listed at $500k, there will be 100s of offers on day one. now you know you are too low. oops.

but here, there is ONE offer. and that's all. that may be the only person who cares, it may be the first person who cares, either way this does nothing to indicate the market demand.

you have to separate the timing/speed from the price. what if the buyer had been looking for months for that or similar item. lost out a bunch of times, finally decided that next one he sees at xx price he will buy. the listing pops up, he sees it, bam buys it.

all this proves to me is that a buyer was found at the listing price.


Good point

I've had it go both ways, mostly just the right thing for the right buyer though.

I had a Harley a few years back I wanted to sell and a guy I work with thought I was crazy to ask what I did (which I felt was very fair). Well some guy from the western part of the state got in contact within a day or two, brought cash and took it home for what I was asking. I forgot to take the add down and never did get another sniff after it was gone. I had one tire kicker and the guy that left with it, it sold quick but was priced correctly IMO.

[pdmtong]

Well, in my case, I listed it as an auction with buy-it-now, starting price is what the least amount I would like to get subtracting all the fees and shipping charges.
I usually would list on eBay and also local CL and pinkbike too. I do agree with some of you that sometimes its good to get a little bit less and get it over with......

I had a Harley a few years back I wanted to sell and a guy I work with thought I was crazy to ask what I did (which I felt was very fair). Well some guy from the western part of the state got in contact within a day or two, brought cash and took it home for what I was asking. I forgot to take the add down and never did get another sniff after it was gone. I had one tire kicker and the guy that left with it, it sold quick but was priced correctly IMO.
the other nuance is whether the listed price is set to attract seekers of said item, or to incent opportunistic purchasing. the former being a price closer to "fair market" and the latter being a price under "fair market" to get people who weren't looking for the item to perhaps impulse buy.

this is the scenario that plays out with custom frames. holding out for your preferred price is effectively narrowing the prospect field to only those who want and will fit your frame exactly, if you want the frame gone, it has to be priced so it attracts a broader audience, specifically folks who are sort of close but willing to "take a chance" they can make it work.

[plandy]

the other nuance is whether the listed price is set to attract seekers of said item, or to incent opportunistic purchasing. the former being a price closer to "fair market" and the latter being a price under "fair market" to get people who weren't looking for the item to perhaps impulse buy.

this is the scenario that plays out with custom frames. holding out for your preferred price is effectively narrowing the prospect field to only those who want and will fit your frame exactly, if you want the frame gone, it has to be priced so it attracts a broader audience, specifically folks who are sort of close but willing to "take a chance" they can make it work.

For selling on eBay, I usually check what are those similar bikes selling, and is there any bidding or the closed auction price. Then I go from there for my listing price. Its hard to even go by those online bluebook or whatever the value is. And also will depend on what bike you are selling and condition of it too.....

[jtakeda]

Pdmtong is on the money.

Just because it sells fast doesn't necessarily mean you sold for too cheap.

I've sold frames for way over what I thought they were worth (completed listing yielded me 0 data points for comparison).

When on my hunt for a kirk, frames that were close but not perfect sat by the wayside but when a cheaper one came up for sale I was willling to take a risk to swing a leg over it and boy was I glad I did!

[Davist]

seems like you priced it accordingly to meet your needs, so don't look in the rear view mirror..

I sold a "NOS" pair of mtb tires in an auction, and it took off for some reason, got $200 for a 15 year old version of the ground control "extreme" 2.5" x 26, so from then stuff I don't know value on, I put in as an auction with a minimum. I rarely use ebay anymore due to the fees though.

From above, PDM has the clearest business view, of course.

[fuzzalow]

pdmtong is right-on-the-money with his inputs into this thread.

From my point of view, bikes and stuff is a pretty illiquid market and it is rarely a sellers market for almost everything, it doesn't matter whose name is on the downtube. The best market is always for Colnagos IMO because they are the Rolex of bikes in that they are pretty good bikes but also have name recognition by the some of the general public as being a good bike which broadens its market.

if a house is worth $1M and is listed at $500k, there will be 100s of offers on day one. now you know you are too low. oops.

Very true and the offers will be escalating bid prices to push the eventual selling price closer to a rational price given the property and the specific episode of that sale. I ridicule the RE agents use of the term "undiscovered gem" as hype to mislead a neophyte home buyer - There is no such thing as property that goes unnoticed in most RE markets.

Most competitive RE markets are brutal and the environment akin to blood sport. A bike market is what it is, a pastime hobby and toy market.

[jlwdm]

...

if a house is worth $1M and is listed at $500k, there will be 100s of offers on day one. now you know you are too low. oops.

...

Not necessarily true. There are strong real estate markets where the homes are listed lower than selling price and then lots of higher offers come in. The market is the market.

$500,000 to $1m might be a bad example, but in a strong market the offers will gravitate to the market.

Jeff

[jlwdm]

Pdmtong is on the money.

Just because it sells fast doesn't necessarily mean you sold for too cheap.

...!

Sometimes the first quick offer is at a better price. I see it all of the time in real estate. The first buyer wants something and makes a great offer to get the property immediately. You see some sellers get over confident because of the early offer and then take months to sell at a lower price.

Jeff

[RoadWhale]

If you cancel the transaction, eBay voids out the fees - recently had a giant frame a dude bought not realizing it was about 4 sizes too small.. I cancelled the transaction on the drop down menu on my selling page and the fees were eliminated.

I've had a couple listings where someone purchased an item in the wrong size. Took less than a minute to cancel the "completed" listing so no harm no foul.

[dpascal]

For me, I set a minimum price that I am willing to sell something. If that is met in 5 min, that is a perfect sale in my mind. Got the price I wanted and don't need to deal with it anymore...perfect.
Same !