eBay Tests Extension of Buy-It-Now Feature on Auctions
By Ina Steiner
AuctionBytes.com
June 22, 2007
eBay is testing a change to the Buy It Now (BIN) feature that would keep the option available on auction listings even after a bid has been received. Currently, sellers can use the BIN feature on auction listings, but if someone places a bid, the fixed-price BIN option disappears. eBay said one reason for this is concern that it would confuse buyers to bid on a item but then lose the auction to someone who "BINs it" before the end of the auction.
But according to an announcement made on Thursday, eBay has done research that suggests keeping the BIN option available on a listing longer will increase the chance that a buyer wins the item and that it will close at a higher price for the seller. "As a result, we're looking at ways to change how BIN works that balance both buyer and seller needs."
eBay will test this change to BIN in the Parts & Accessories category on eBay Motors. Over the next few months, eBay will test a number of variations of the rules for how long the BIN option will stay available on a listing.
"For example, we may start with a rule that the BIN option will remain available on the listing until the bidding reaches 50% of the BIN amount. This rule could be modified with a different percentage over the course of our testing. Other variations could include keeping the BIN available until a certain amount of time is left in the listing, or until a certain amount of bids have been placed."