Question for those who buy/sell bikes on Ebay

[ToddK]

Hey gang,
First off, if this is against policy here, my apologies, and please delete. I'm not trying to back-door a sales pitch on my bike, but would appreciate thoughts on to Reserve, or not to Reserve. I could just use a starting bid near my bottom line, or set a Reserve price that covers me there, but I don't want to scare off any interest, and frankly don't know what it is really worth in today's market. I'm going to get rid of that Milano, and thinking about crossing my fingers and just letting 'er rip with a no-reserve $100 opening bid, just to hopefully generate some action. Thoughts? Dumb? I figure if I get too skeert, I can always pull the plug in a couple days.
I appreciate your thoughts, and am still unwaveringly certain I'll be back with another Goose down the road!
Todd

[Matteo]

I would start with lowest price acceptable

[Dirk_S]

I say start at a comfortable minimum. At what point will you be happy enough. You can always re-list if the first time around doesn’t sell. Now, what you DON’T want to be doing—and what I thought this was going to be about—is bidding on your own vehicle with a second account.

I sold my BMW F800 GS for a lower price than I wanted. I wish I had the minimum raised. Oh well. First time (ebay) seller’s remorse. That’s what I get for selling it out of season.

[ToddK]

Thanks guys, will alter listing I think. And no, haha, I wasn't planning on bidding it up with one of my several personalities! Although, when I look at the pictures, I do feel like seeing if I can get a deal on this beauty! 

[fotoguzzi]

If you can try to restrict bids to buyers with known feedback. One of the latest problems with eBay is the zero feedback bidders who bid it way up but never go through with the deal. I have not figured out what the bozo gets out of doing this but I’ve had to relist numerous times, frustrating. eBay ain’t what it used to be.

[ToddK]

Thanks Foto!
You can't really do the feedback thing anymore because nobody gets less than 0 now. However, you reminded me to go back and block buyers who have cancelled 2x in 12 months.

[NC Steve]

I've sold several bikes and other big ticket items on Ebay over the years, and have always listed them as reserve auctions. I set a starting bid of maybe $500 to get the ball rolling, and then let bidders go to work. If bids never reach your reserve you're under no obligation to sell. I've also specified if a bidder has zero or any negative feedback their bid will be rejected unless they contact me first. I've probably been lucky, but I've never a problem or lost $$.

[Ryan]

I set a reserve. If you are interested, you will bid. If you are hoping to snipe a deal on something that did not get the expected bidding action you will not succeed with me.

[Mayor_of_BBQ]

If you can try to restrict bids to buyers with known feedback. One of the latest problems with eBay is the zero feedback bidders who bid it way up but never go through with the deal. I have not figured out what the bozo gets out of doing this but I’ve had to relist numerous times, frustrating. eBay ain’t what it used to be.

100% !!!!!  Non-paying bidders is a pox on ebay... I have been selling there for nearly 20 years and it has gotten really bad in the last 2 years. Ebay doesn't do anything about it, and doesn't seem inclined to do so. The more they move away from auctions and toward just being a direct-consumer sales platform, they really don't support auction sellers anymore.


As to the original question, I say skip the reserve and just set the starting price at the lowest possible number that won't break your heart and let it roll. If you get no bids/sale, you will know your price is too high and you can always re-list. I dont think buyers like the uncertainty of a reserve. They like to bid knowing if they win, they will get the bike- not wait halfway or more thru the auction to see if it even hits reserve...

DO NOT set your starting bid at $100 with no reserve, you might be in for a nasty surprise.

[SIR REAL ED]

100% !!!!!  Non-paying bidders is a pox on ebay... I have been selling there for nearly 20 years and it has gotten really bad in the last 2 years. Ebay doesn't do anything about it, and doesn't seem inclined to do so. The more they move away from auctions and toward just being a direct-consumer sales platform, they really don't support auction sellers anymore.


As to the original question, I say skip the reserve and just set the starting price at the lowest possible number that won't break your heart and let it roll. If you get no bids/sale, you will know your price is too high and you can always re-list. I dont think buyers like the uncertainty of a reserve. They like to bid knowing if they win, they will get the bike- not wait halfway or more thru the auction to see if it even hits reserve...

DO NOT set your starting bid at $100 with no reserve, you might be in for a nasty surprise.

Well said.  Any other strategy attracts the vultures who are seeking a "real deal" and hoping they can get the item for a song (Guzzi Content) 

I think that mindset belongs to the person who really doesn't want to pay a fair price, but will happily take the item if they can get it at a huge discount.

Its fascinating to see the bid on a bike stay really low until the last 10 minutes of the auction then triple or quadruple.  For some, I'm sure that is a thrill, but for most it is a waste of time.

All the flaws of eBay would be cured by people placing only one bid, that is the maximum price they would be happy to pay.  eBay could easily implement this change, but it would take away from the window shopping/amusement/recreation value of eBay.

 

[ToddK]

Thanks a ton for all of your input gang, very helpful! I initially did just that, lol, set opening bid at $100 w/no reserve! So stressful 😬

[Dirk_S]

All the flaws of eBay would be cured by...

...having the funds automatically withdrawn from the buyer's payment account upon winning!

[fotoguzzi]

...having the funds automatically withdrawn from the buyer's payment account upon winning!

that’s the other thing that sucks about eBay and why I don’t buy or sell there now. You have to link a bank account where they will deposit your sold money days later and if your the buyer they can take money from your account with no OK from you before doing so. You have to agree to that before you can use eBay now, I think.

[Dukedesmo]

I've sold a few bikes on ebay, I don't like bidding on reserve auctions myself so I don't set one. I just put the starting price at the lowest price I'm prepared to accept (effectively the reserve) and, fortunately have always got more than that in the end.


A decent bike, correctly advertised should always get pretty much what it's worth IMO.

[sign216]

In the past I've had problems w false bidders whenever I listed any Israeli military items.  The false bidders were always from other countries, so I solved it be limiting the auction to US-only.  This applies to your motorcycle sale, since people in say, Africa, are unlikely to complete the purchase.

Be careful to follow Ebay's rules.  They closed my account and made it difficult to open another, when I was selling some firearms parts.  The parts were entirely legal, but Ebay has an anti-gun policy.

So...watch out.

[aklawok]

I think that mindset belongs to the person who really doesn't want to pay a fair price, but will happily take the item if they can get it at a huge discount.

Its fascinating to see the bid on a bike stay really low until the last 10 minutes of the auction then triple or quadruple.  For some, I'm sure that is a thrill, but for most it is a waste of time.

All the flaws of eBay would be cured by people placing only one bid, that is the maximum price they would be happy to pay.  eBay could easily implement this change, but it would take away from the window shopping/amusement/recreation value of eBay.

you have defined me to a fault! I do lots of buying on ebay, and love low-ball bidding! sometimes I even win! the other big deal as a buyer is that because of my location, buying from an independent shop can greatly increase the cost due to shipping. same with amazon, finding sellers with fixed/low shipping is great.
 as for vehicles, don't under-estimate a good reserve auction with low start bid; yes you will get low ballers, but they don't matter and the reserve can be lowered, and if failed will give you a very good estimate of the market ( and if shocked rethink selling)

[LongRanger]

I’ve bought and sold several bikes on eBay without issue and find that it offers the best market penetration and response for my advertising dollar.

Keep in mind that bids for vehicles posted on eBay Motors are NOT binding and the winning bidder is not obligated to complete the purchase. For example, if a vehicle won’t pass inspection in your state, you can cancel the transaction. Or, if you simply have buyer’s remorse after winning an item, you can request the seller to cancel the sale.

[Mayor_of_BBQ]

...having the funds automatically withdrawn from the buyer's payment account upon winning!

Damn straight Dirk... Hell I would be happy if the held a portion of the bid on your CC and if you back out, you lose it (like bring a trailer)

[ToddK]

DAMNED good tips/advice/experiences everyone! I might have to slap a Guzzi decal on my Kawi so that I might could maybe still hang around here!

So, let's suppose I do end up with a winning bidder. Anyone care to share some of what I might expect from the next steps(misteps)?
Looks like I have a bit of action going on, so that's positive. Hoping some dying billionaire with a last wish to own this bike spots my listing. If anyone here knows or is one, please feel free to reach out. 

[Mayor_of_BBQ]

DAMNED good tips/advice/experiences everyone! I might have to slap a Guzzi decal on my Kawi so that I might could maybe still hang around here!

So, let's suppose I do end up with a winning bidder. Anyone care to share some of what I might expect from the next steps(misteps)?
Looks like I have a bit of action going on, so that's positive. Hoping some dying billionaire with a last wish to own this bike spots my listing. If anyone here knows or is one, please feel free to reach out. 

I would be ready at auction end to contact the buyer immediately to secure payment. You could take deposit via paypal, WISE, venmo, zelle, bank transfer or whatever.  Most people take a deposit in some electronic form, then send a pdf or photocopy of the title once that is secured. Do not send the title until you have full cash payment in hand or cleared funds.  If they want to pay in full electronically, I would insist on Venmo, bank transfer, or PayPal FRIENDS & FAMILY so that they cannot initiate a chargeback on their CC after the fact. This is a big scam in the used watch market right now... the person buys the watch, you see the funds so you ship it... the buyer then claims fraud/loss/misrepresentation etc of the goods in question and gets a chargeback from the CC company. You lose the article and the funds in the end.

Of course a lot of that is influenced by proximity of the buyer and title laws vis a vis: notarized or not etc.... It's a lot easier in states where you can just sign the title or provide notarized bill of sale and just fedex it to them or whatnot....  vs. a state (like NC) where the title must be signed by both parties in presence of a notary.

I have always wanted a Milano, my favorite special edition of the V7...  Good luck!

[usedtobefast]

Another thought, don't run it as a auction but list it as a "Buy it now" ad with a set price and the "Make an offer" option.  This type of ad runs for 30 days vs a 1-10 day auction.

With a 1-10 day auction, you are hoping that Moto Guzzi buyers will discover it and bit it up within that short time period.

With the "Buy it now" approach you have a lot more time for people to see it, think about it, ask questions, etc. 

[SIR REAL ED]

Another thought, don't run it as a auction but list it as a "Buy it now" ad with a set price and the "Make an offer" option.  This type of ad runs for 30 days vs a 1-10 day auction.

With a 1-10 day auction, you are hoping that Moto Guzzi buyers will discover it and bit it up within that short time period.

With the "Buy it now" approach you have a lot more time for people to see it, think about it, ask questions, etc.

Good point!

[ToddK]

Excellent tips, Mr. Mayor! Thanks very much!

I didn't know about the 30-day option, thanks. That would likely have been the more sensible approach had I listed this earlier. I really do need her gone, unfortunately. Someone is going to get a Hell of a deal, but I'm making my peace with it with booze, pills, and tobaccy, lol.

[SIR REAL ED]

you have defined me to a fault! I do lots of buying on ebay, and love low-ball bidding! sometimes I even win! the other big deal as a buyer is that because of my location, buying from an independent shop can greatly increase the cost due to shipping. same with amazon, finding sellers with fixed/low shipping is great.
 as for vehicles, don't under-estimate a good reserve auction with low start bid; yes you will get low ballers, but they don't matter and the reserve can be lowered, and if failed will give you a very good estimate of the market ( and if shocked rethink selling)

I also fall into the category of dreamers and window shoppers, but rarely bid for a variety of reasons (lack of shop space, etc.)

IMO, the most annoying people to deal with are the negotiators who have to win.  For them it is never just a simple business transaction, it is a competition, and they must prevail over their adversary!

[fotoguzzi]

Excellent tips, Mr. Mayor! Thanks very much!

I didn't know about the 30-day option, thanks. That would likely have been the more sensible approach had I listed this earlier. I really do need her gone, unfortunately. Someone is going to get a Hell of a deal, but I'm making my peace with it with booze, pills, and tobaccy, lol.

give us a link to the auction, maybe someone here will be enticed to bid.

[Road Rocket]

 Read the "new" rules carefully on Ebay vehicle auctions...The high bidder is no longer under contract or any obligation to buy it...I have sold and bought vehicles on Ebay in the past with no problem, but now.. I am no so sure...

[JohninPA]

give us a link to the auction, maybe someone here will be enticed to bid.

No link needed - it's the only Milano on ebay at this time.

[aklawok]

 I am asuming this is the bike in vermont:
https://www.ebay.com/itm/185489643514?hash=item2b300b57fa:g:I4AAAOSw1T1ixJbe
very nice! best of luck!

[ToddK]

Yep, that's the one. Ugh, SO painful looking at it. Clearly MILES better looking than the replacement. I have a suspicion there will be another for me down the road a bit.
Anyway, hopefully it goes to someone that has been looking for one, and not to someone simply looking for a deal that they can resell. Got a few watchers, maybe one or two of them have plans to enter the fray as time winds down.

It's all such an exciting mystery at this point, haha!

[Mayor_of_BBQ]

Oh man that thing is sweet, for some reason most Milano that come up have been seriously molested

GLWS! Wish I had a truck that would make it to VT and back