Comments on: To BIN or Not to BIN: Discussing the Buy It Now Question

By: Allyn

Allyn — Sat, 08 Nov 2008 00:24:24 +0000

@Ben–yeah, I like the movie “Boiler Room” too!

By: Ben Cook

Ben Cook — Wed, 05 Nov 2008 18:45:33 +0000

@Allyn, good to have you! I agree, selling websites is like selling everything else. You have to create the value in the buyers mind. Either they’re buying your site, or you’re buying their reason why they aren’t.

@Dan, I think it might be a bit of a stretch to assign cause and effect to the BIN on just three data points without more info. Was the site that you sold with a BIN significantly more valuable to begin with?

By: paul

paul — Wed, 05 Nov 2008 17:19:06 +0000

I’ve seen many people question BIN’s and a common response is that the reserve is much lower than the BIN i.e. buyers won’t necessarily have to bid that high to win the site.

A high BIN might put some people off, but I’m sure the experienced buyers – who actually have the desire to buy – will start talking to the seller to feel them out.

By: Dan

Dan — Wed, 05 Nov 2008 11:34:08 +0000

Yeah I tend to agree with the points you’ve made. I havent sold many websites, but two have been through bids and one through a BIN – and thats the one I made most of my money on.

I think posting without a BIN is a good idea, as people will leave comments asking what it is – and the auctions with comments seem to attract the most visitors anyway!

By: Allyn

Allyn — Mon, 03 Nov 2008 20:55:39 +0000

Hey, came over from Bryan’s Blueprint.
Anyway, I am a noob flipper but agree with you in this respect. honestly, selling websites is not different than selling anything else in the real world. You create the demand, and people will pay any price.