Ebay's "best Offer" Option Is A Winner
eBay offers many ways for an ecommerce entrepreneur to sell products
. You can:
* Set up a traditional auction
* Offer a fixed price, "Buy it Now" option
* Suggest that potential buyers "make an offer" that allows you to bargain in real time
The Best Offer option is relatively new for eBay and the rules have changed a few times. Many sellers are wondering if it is a viable alternative and how best to use it as a selling strategy.
"Best Offer" Rules
The current rules are quite straight forward. It is available for listings using the fixed price and Classified Ad formats, and in eBay Motors. Best Offer isn't available for auction-style listings, it is not available in every category, and if it is not shown as an option when you list your item, it isn't available in the category you've chosen for your item.
If you are selling an item with a fixed price, you can choose the Best Offer option when you list your item for sale on eBay. With this option you give buyers a chance to negotiate the price with you. Each Best Offer is good for up to 48 hours, it's binding, just like any other bid, and there are no extra charges to use it.
There are some feedback and other requirements (PayPal, ID verified, etc) that you will need to meet. Go to the relevant help page on eBay to learn more about the specific seller requirements for using it as a selling option.
After you receive an offer, you can choose to
* Accept it and end the listing.
* Decline it. You can explain your reasons to the buyer if you want to.
* Respond with a counteroffer. If the buyer doesn't 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.
If you expect multiple offers, or you have a price range that you'll accept for your item, you can respond to offers automatically. The Best Offer system will automatically accept or decline offers outside of price limits you set. Buyers will not know that you have set these limits, and you can change your price limits at any time, as long as the listing is still active.
The upper limit price you set must be lower than the Buy It Now price.
* If you get an offer at or above your upper limit, eBay will automatically sends an email to you and the buyer saying that the offer has been accepted. This means the item has sold, and the buyer will be directed to pay you.
* If you get an offer below your lower limit, the system automatically sends an email to the buyer declining the offer. The buyer may submit a higher offer, or you can send a counteroffer.
If you decline an offer, and the buyer is eligible to make more offers, you can send that buyer a counteroffer that's higher than the declined offer but lower than your Buy It Now price. If you make a counteroffer and the buyer does not respond to it within 48 hours or before the listing ends, whichever comes first, the counteroffer automatically expires.
Seasoned Sellers give Best Offer a Thumbs Up
Seasoned sellers say that it gives sellers one more bit of flexibility that helps move product. They concede that you may not get the price you want, but point out that it's much better to sell a lot of product at a slightly lower profit margin than sit on inventory. Plus, they believe that Best Offer responds to the eBay buyer's basic instinct of wanting to get a bargain by allowing them to haggle and reduce the standard selling price. They also believe that it's a great way to engage potential buyers and get them hooked into a sale when they started out just browsing.
Experienced sellers suggest that you establish a fixed price then add the best offer option. Next, place a message in the description that's something like this:
"I hope you'll make an offer on this product. You wouldn't be browsing this page if you weren't interested in purchasing; I'm definitely interested in selling. Make me a serious offer and chances are, we can make a deal."
This request will get the ball rolling. Hopefully, your browser will now become a bidder. Sellers caution that you will, of course, get people who send you ridiculously low bids. You can just reject those out of hand or you can try a counter offer. However, if you get a bid that's anywhere near reasonable, you have a good potential for making a deal. You might try a wording a counter offer something like this:
"Thanks for your bid. The thing is, I just can't sell at that price without incurring a loss. But, if you're willing to buy it for $XX, it's yours at an incredible bargain. What do you think?"
If you are reasonable and good-humored in your approach to the Best Offer option, you can do very well.
by: Jane Dawson
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