I am not a large seller. I almost exclusively use BIN as a selling option. But lately something like 25-50% of my BIN listings end up unpaid.
Top listing still has time but at this point it’s a good assumption that they aren’t going to pay.
Is this happening to you too? What is the logic behind agreeing to a price and then pulling out? Where are these people coming from!??
It’s not exactly the same, but a close enough experience that I feel like it’s relevant:
Compared to my last round of selling in 2020, I have gotten frequent lowball offers on every card I have listed this year. All items were posted as BIN w/ no offers turned on but essentially every morning I would wake up to an eBay message from a low, medium, and even high feedback accounts offering 30-60% of my asking price (a price that was at-or-below last sold).
I think a big part of what’s driving this has to be the subsequent market downturn from the 2021 high as well as people’s dollars not going as far as they once did. I think that many people can no longer afford to spend the way they once did, but still want that dopamine rush of “scoring” a deal. So they “negotiate” a price, get the mental satisfaction of “winning” and then ghost.
They may have found a better price on eBay. Unconscientious people won’t care that they wasted your time.
PWCC has gained some major social media attention recently with their impressive sales of high-end cards. My guess would be that inexperienced buyers from Instagram, Facebook, Reddit, Twitter joined with the intention to “find deals.” Similar intention to what @lamplamp posted.
I think on Mercari JP you actually have to “checkout” when you are sending the final offer. Once the seller accepts the offer, the payment is immediate. Maybe a system like this would circumvent this non-paying buyers issue. I can imagine how frustrating it must be to wait for payment only to have it cancelled with the buyers backing out.
Cheers!
Ebay has implemented the same thing. You put in your card information when sending an offer and if it gets accepted, your card is auto charged. Seems like such a no brainer
It’s still being tested, maybe 20% of offers I get are using this
Honestly I would NOT expect them to keep this feature. Non paying buyers dont hurt eBay THAT much? Unless you all have experienced a huge surge even on a larger sample size.
eBay is hurt much more if buyers feel there’s too much friction in making an offer. (But if someone has made offers with this feature pls share, is it just 1 button? or a whole checkout screen)
Non paying buyers mean less sales volume for sellers and less fees for ebay
There are no real consequences.
Well the item will eventually sell right? Like the seller will eventually relist and then it’ll sell
As long as its not too high (the 40-50% youre getting is super terrible, unfortunate), i doubt sellers would leave
The would-be buyer submits a bid higher than they can actually afford/justify with the expectation they will be outbid. This allows them to feel like “they tried” and affirms the card is out of their reach, which releases the tension surrounding seeing a card they want come and go. Being outbid or having your offer rejected let’s the buyer walk away from the opportunity without guilt for willingly passing it up. For many, it’s easier to lose an auction than it is to not participate at all and wonder what could have been.
Since people approach these bids and offers with the expectation of failure, they are often not prepared for the expense of success. They want it, but not that much, or not right now, and then they have to flee the scene.
Interesting. It’s been having me to do every time for when I submit offers for a couple of weeks now.
Basically when you’re reviewing your offer, it has a mini checkout screen with your shipping address filled out and card information and what the total would be if the offer is accepted.
But now it’s $200 less I have to spend getting (possibly from ebay) and listing new inventory
$200 less for now right? But when they eventually sell its not like your spending behavior would change
Im just saying like, ebay in theory doesnt lose money here, but adding more friction for buyers to purchase probably does?
Though from the description just posted above seems like its just an accept/decline in the iffer screen, so maybe not a big deal
I think it’s the rush that makes the buyer either
• think they’re getting a good deal on the card, and once they look up last sold listings on eBay, they jump ship.
or
• the thrill of gambling.
Yesterday was my first time selling on PWCC Flash Auctions. I’ll know more on the selling side soon. But yeah, two cents.
I’d guess around 15% of my sales go unpaid and it’s pretty similar between PWCC and ebay (edit: with the difference that an unpaid fixed price item on PWCC means your listing is gone for weeks instead of days). Flavor of the month modern stonk cards and black labels have been the worst offenders for me, probably more like 30% for those. I haven’t noticed much change over time with that on the auction side, but during the 2021 hype run it seemed like BIN offers rarely ever went unpaid.
As for the why, I’d guess a) people just want to feel like they won but change their mind once it comes time to actually put the money up (it’s not a good deal anymore if someone actually agreed to it) and b) with the state of the market people don’t really feel pressed to get something right now unless it’s something that’s actually rare.
Non-paying buyers are basically why I stopped taking offers/doing auctions entirely. The trade off is a slight increase in “what’s your best price” messages, but I got those even when k had offers enabled, so
your fault for sitting on bins and not auctioning them off like the rest of us gigachads
Trolls and people inconsiderate of others time. That is definitely a high percentage and can be discouraging. I thought pwcc was going to require people to have a payment method on file a while back to avoid this but could be wrong
Even when I’ve done auctions on pwcc i got a considerable number of nonpayers
