New(?) eBay buying strategy that seems to be working

[foreverloves]

Ending an auction early and selling outside of ebay doesn't always make sense (even if ebay allowed it). If only one person has placed a serious bid, it is quite possible that the current bid is low, but that the max bid (and potential sales price) is high. It takes at least 2 serious bidders to result in a high sales price. I think there are more sellers than you might think that don't understand the concept of an auction. OTOH, I suspect that there are a significant number of sellers that don't follow through with a purchase after winning an auction. Sellers may decide it is better to go with a more sure thing and sell outside of ebay than gamble on the final price of the auction and that the winner will follow through.

I once got into a long back and forth with a seller who accused me of trying to rip her off because my bid was so low. In fact, my bid was considerably higher, but the winning bid was low because I was the only bidder. She wasn't convinced and wasn't going to sell me the item at the winning bid so I left negative feedback and moved on.

Good for you! Sellers who sell on ebay have to be prepared for their item to sell for a lot more than they want, or a lot less. It's not fair. And you're right; ending the auction early (before there are multiple bidders) can hurt the seller. Check most any serious ebay auction, you'll see the sniper bids at the last second. Even if those snipers lose, they drive up the price for the seller. And that's okay!

 

[ronparise]

Whats worked for me lately is to place a standing offer with my favorite ebay seller. We make our deal before it ever goes to auction

 

[ampaholic]

Whats worked for me lately is to place a standing offer with my favorite ebay seller. We make our deal before it ever goes to auction

Now that is the way to do it - I'll dub that the "unsnipe" since it never gets even a chance to be sniped -

 

[tombo]

If I as a seller had my week for sale on e-bay and on other sites at the same time I would have no problem selling it to someone who made an offer from a non e-bay site and cancelling my e-bay sale. E-bay is a great place to buy but a terrible place to sell. If you sell a timeshare on e-bay and the buyer never pays you, too bad. Real estate sales are not binding according to e-bay. If your high bidder does not pay you can not even leave negative feedback on the nonpaying bidder. Many buyers iknow this and win the auction with no intention of ever owning it. I do not understand why e-bay treats timeshare sales unlike almost any other type of sale.

As far as e-mailing an offer to an e-bay seller you could get caught and banned from e-bay.You have to send the seller an e-bay PM which e-bay might or might not be able to read. I made an offer outside of the auction in the past and got an e-mail from e-bay explaining that offering to buy an auction item outside of the auction was forbidden. Whether they were guessing what was in my question to seller or whether they knew what I had asked is something I am not sure about.

 

[Rent_Share]

I do not understand why e-bay treats timeshare sales unlike almost any other type of sale.

Timeshares are a subset of Real Estate to which the non binding rules apply. In order to make eBay auctions binding eBay would have to be in compliance and make sure all of the sellers complied with all of the listing and disclosure laws for all of the states.

That is why all of the fees are flat and not percentage based since they are related to the process of bringing the seller and buyer together to them negotiate a contract consistent with state law regarding the sale of real property

 

[ampaholic]

-snip-
As far as e-mailing an offer to an e-bay seller you could get caught and banned from e-bay.You have to send the seller an e-bay PM which e-bay might or might not be able to read. I made an offer outside of the auction in the past and got an e-mail from e-bay explaining that offering to buy an auction item outside of the auction was forbidden. Whether they were guessing what was in my question to seller or whether they knew what I had asked is something I am not sure about.

Did you get suspended or a warning?

Most of the "power sellers" of timeshares list their phone number - just give them a call - eBay doesn't tap your phone.

One PCC even sends out "spam" to former customers with the web address of timeshares to buy cheap.

 

[Cargojon]

I thought it has been well established here that ebay was not a legitimate platform for timeshare sales?

*ducks and hides

 

[tombo]

Did you get suspended or a warning?

Most of the "power sellers" of timeshares list their phone number - just give them a call - eBay doesn't tap your phone.

One PCC even sends out "spam" to former customers with the web address of timeshares to buy cheap.

Got a warning explaining that it was against the rules to make offers outside of e-bay.

 

[bjones9942]

You can always request the seller add a buy-it-now with the price you want to pay. Stays within eBay's rules, seller sells and buyer buys. Everyone is a winner!

 

[foreverloves]

You could also conceivably cancel the auction and set up a private auction for only that buyer. This would also follow ebay rules.

I agree that ebay is a terrible place to sell unless you want to get your timeshare gone fast. Having said that, I've watched 2 Silver Barony Beach weeks go WITHOUT BIDS. One had a free closing (buy it now was $100) and the other had a greatly reduced closing. That one was with Sumday, and they couldn't even fetch the initial $36 bid. I thought it had hit bottom but it's getting worse, I think.

I know I tend to snipe auctions and it's not to be a PIA, it's because I do not wish to show my hand before the very end. If it ended before that, I'd be hot!

 

[fcpowell]

Explanation of what is happening

Okay- here is what is "most likely" happening here that will explain what is being seen.

Original poster states that the auction ended early at a price $3,000 less than the snipe price set. This tells us a few things:

1. Auction ended on ebay and therefore ebay got paid commissions. Had it been cancelled and sold outside of ebay, then you would not see an ended auction and sales price.

2. Winning bidder worked out the sale through private channels and placed a bid at agreed price. Seller then immediately ended the auction and gave it to the high bidder. All of this follows ebay rules as stated in this thread. Nothing wrong here as far as ebay rules as stated.

If there was a link to auction, I imagine you would see that the auction ended within a few minutes of the last bid being placed as agreed by the two parties.

SUMMARY
- private price worked out
- bid placed at agreed price
- seller ends auction and the new high bidder wins

That should be it in a nutshell. I have been in auctions like this myself. This is the way I interpret what original poster is seeing happen.

 

[Fayeoctober]

First of all I have to say that I don't like "sniping" on Ebay. I have lost out on a lot of auctions because of it, so I guess I am not really feeling sorry for someone who snipes and loses out. Also I feel that some timeshares are going for ridiculously low prices on Ebay - maybe that is all the market will bear - but it does hurt other owners at the same resort. Finally, and this is a question to those familiar with "sniping" and maybe since I can't beat them, I need to join them, the sites I have gone to seem to require your Ebay password. How can someone be sure, that place won't use it for something else?

 

[Dave*H]

How can someone be sure, that place won't use it for something else?

Not properly protecting your account information would not be a very good business strategy. Regardless, what is the worst they could do with it? Bid on and win stuff you don't want? If that were to happen, report your account as having been hacked (you don't really know it was the snipe company anyway) and don't pay for the items. I would recommend that you make sure your ebay password is different from any of your financial accounts so that it eliminates the possibility that it could actually be used to pay for stuff.

 

[dioxide45]

You can always request the seller add a buy-it-now with the price you want to pay. Stays within eBay's rules, seller sells and buyer buys. Everyone is a winner!

This is what I did with an auction (non timeshare). Had an item for sale and someone contacted me through the listing with a price offer. I added a buy -it-now option and they bought it, paid through Ebay/PayPal.

 

[dioxide45]

How can someone be sure, that place won't use it for something else?

If they use it for something else, the site will lose credibility very fast and won't be in th business of providing snipping services to anyone.

 

[ronparise]

In defense of sniping:

At "real" auctions in a room with an auctioneer, bidding is kept open until the bidding stops....."going once, going twice, do I hear $500, going three times.....sold" As long as there are bidders willing to bid more, the auction is open. You never hear someone at a real auction saying that they would have paid more.

The odd thing about ebay auctions is that they end. often with a bidder willing to pay more, losing out, because someone else got a bid in at the very end of the auction.

Conventional ebay wisdom says to wait until the end of the action to bid. And make your bid your highest and best bid. I dont think anyone would find fault with that... Sniping just automates the process.

When I snipe, I am often out bid because someone else was willing to pay more than I am...and thats the way it should be. Im never out bid by some one quicker than me, when Im willing to pay more.

And by the way,,,Im not bothered giving esnipe my password, I give my mechanic the keys to my car, and my plumber, the keys to my house. Why should I be concerned giving the key to my ebay account to esnipe...They need it to provide the service I want from them

 

[K2Quick]

First of all I have to say that I don't like "sniping" on Ebay. I have lost out on a lot of auctions because of it . . .

You have never lost a single auction solely due to the snipers. You lose auctions because your bids are lower than those of the snipers. If the sniper puts in a bid lower than yours, the sniper loses.

 

[jdds]

selling right now on ebay

I currently have my WSJ timeshare for sale on ebay. I want it gone within the month. I have sold/bought other items in the past on ebay- purses, my wedding gown, etc. I used the traditional auction format every time and never had a problem with sniping when trying to buy and I've never sniped a product. This time, for my timeshare, I'm using the "buy it now/make best offer" format. I fully intend on ending my auction early if someone from here sees my Marketplace add or Redweek add- I even referenced my posting on here in my eBay add. Now, for my question since I'm a timeshare sales newbie- am I going about this all wrong on ebay? I only have experience buying clothing type items on there. As buyers or sellers, do you recommend I set up my auction differently?

Sorry if this should have been a different thread, but thought it was somewhat relevant since I am trying to get people to "make a best offer" to end the listing early!

 

[foreverloves]

I currently have my WSJ timeshare for sale on ebay. I want it gone within the month. I have sold/bought other items in the past on ebay- purses, my wedding gown, etc. I used the traditional auction format every time and never had a problem with sniping when trying to buy and I've never sniped a product. This time, for my timeshare, I'm using the "buy it now/make best offer" format. I fully intend on ending my auction early if someone from here sees my Marketplace add or Redweek add- I even referenced my posting on here in my eBay add. Now, for my question since I'm a timeshare sales newbie- am I going about this all wrong on ebay? I only have experience buying clothing type items on there. As buyers or sellers, do you recommend I set up my auction differently?

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=130540380602&ssPageName=STRK:MESELX:IT

Sorry if this should have been a different thread, but thought it was somewhat relevant since I am trying to get people to "make a best offer" to end the listing early!

Your post might get snagged and removed because we're not supposed to 'advertise' but I get your point - so I'm not upset.

First, what I would say is that I would never, ever pay $4,000 for a timeshare - like EVER - and especially one with a $1700 per year maintenance fee. I agree it's a beautiful place and I do not own any Starwood. Maybe a Starwood owner will chime in and say this is a steal. But I would make very sure you are pricing correctly. If the last, say, 10 auctions for this property have been in the $1K department, and you are asking 4K, buyers like me won't even bother giving you an offer. Most ebay buyers are pretty savvy and want a great deal. If it's such a terrific property, why not use a bidding format and let the market decide what it is worth? Make it no reserve, start it at $100. You take a risk, but you may be surprised. Some people in the heat of the auction bid far more than they really want to in order to win.

Your ad looks nice otherwise, although I also saw it's a one bedroom...ouch. Is that really market value for this?

Also, you might want to include in the your details that the buyer can choose their own closing company (so long as they are licensed and such). This will be an incentive over the PCCs who insist on a high priced closing company that they receive profit from. You reference that, but it's not totally clear.

Good luck!

 

[foreverloves]

You have never lost a single auction solely due to the snipers. You lose auctions because your bids are lower than those of the snipers. If the sniper puts in a bid lower than yours, the sniper loses.

Yes! Amen! What a concise way to elaborate on a concept that not many understand. Snipers are not the enemy. The top dollar can be! As I have sniped before, I have lost before. The good feeling I have is that I didn't overpay for the item. I offered what I wanted to - and there will always be another one.

 

[jdds]

Your post might get snagged and removed because we're not supposed to 'advertise' but I get your point - so I'm not upset.

First, what I would say is that I would never, ever pay $4,000 for a timeshare - like EVER - and especially one with a $1700 per year maintenance fee. I agree it's a beautiful place and I do not own any Starwood. Maybe a Starwood owner will chime in and say this is a steal. But I would make very sure you are pricing correctly. If the last, say, 10 auctions for this property have been in the $1K department, and you are asking 4K, buyers like me won't even bother giving you an offer. Most ebay buyers are pretty savvy and want a great deal. If it's such a terrific property, why not use a bidding format and let the market decide what it is worth? Make it no reserve, start it at $100. You take a risk, but you may be surprised. Some people in the heat of the auction bid far more than they really want to in order to win.

Your ad looks nice otherwise, although I also saw it's a one bedroom...ouch. Is that really market value for this?

Also, you might want to include in the your details that the buyer can choose their own closing company (so long as they are licensed and such). This will be an incentive over the PCCs who insist on a high priced closing company that they receive profit from. You reference that, but it's not totally clear.

Good luck!

Jennifer-

Thanks for the feedback- I'll remove the link in the post, since I'm definitely not trying to advertise. My unit is already listed in the marketplace. I know you got my point about trying to feel out about what to do about actually getting offers outside of the listing

 

[jdds]

Your post might get snagged and removed because we're not supposed to 'advertise' but I get your point - so I'm not upset.

First, what I would say is that I would never, ever pay $4,000 for a timeshare - like EVER - and especially one with a $1700 per year maintenance fee. I agree it's a beautiful place and I do not own any Starwood. Maybe a Starwood owner will chime in and say this is a steal. But I would make very sure you are pricing correctly. If the last, say, 10 auctions for this property have been in the $1K department, and you are asking 4K, buyers like me won't even bother giving you an offer. Most ebay buyers are pretty savvy and want a great deal. If it's such a terrific property, why not use a bidding format and let the market decide what it is worth? Make it no reserve, start it at $100. You take a risk, but you may be surprised. Some people in the heat of the auction bid far more than they really want to in order to win.

Your ad looks nice otherwise, although I also saw it's a one bedroom...ouch. Is that really market value for this?
Also, you might want to include in the your details that the buyer can choose their own closing company (so long as they are licensed and such). This will be an incentive over the PCCs who insist on a high priced closing company that they receive profit from. You reference that, but it's not totally clear.

Good luck!

Also, I actually have NO IDEA what market value is for this. I looked at the completed eBay auctions and there weren't any similar listings. There were some for multiple weeks, which means MFs in the 2K+ range, or some 2 bedrooms, or some a few years ago. There are some on eBay right for a lot more- a 3 bedroom for $19K and 2 bedroom that has an active auction that is now at $200, but the MFs are $3K/year!!! My MFs are thankfully the cheapest on the property, which I thought would make it stand out. Maybe I'm dreaming!

I did update the auction based on your advice about the closing company! TY!!

 

[rickandcindy23]

A recent auction closed early, supposedly with a Buy It Now, but it wasn't set up as such. The seller made a huge mistake, because I know of three people who are watching for that resort and season, who would have bid that auction up to at least $800 or so. Big mistake to take a lowball offer. All three people were disappointed when the auction disappeared.

 

[brucecz]

Your post might get snagged and removed because we're not supposed to 'advertise' but I get your point - so I'm not upset.

First, what I would say is that I would never, ever pay $4,000 for a timeshare - like EVER - and especially one with a $1700 per year maintenance fee. I agree it's a beautiful place and I do not own any Starwood. Maybe a Starwood owner will chime in and say this is a steal. But I would make very sure you are pricing correctly. If the last, say, 10 auctions for this property have been in the $1K department, and you are asking 4K, buyers like me won't even bother giving you an offer. Most ebay buyers are pretty savvy and want a great deal. If it's such a terrific property, why not use a bidding format and let the market decide what it is worth? Make it no reserve, start it at $100. You take a risk, but you may be surprised. Some people in the heat of the auction bid far more than they really want to in order to win.

Your ad looks nice otherwise, although I also saw it's a one bedroom...ouch. Is that really market value for this?

Also, you might want to include in the your details that the buyer can choose their own closing company (so long as they are licensed and such). This will be an incentive over the PCCs who insist on a high priced closing company that they receive profit from. You reference that, but it's not totally clear.

Good luck!

We put in the ebay ads and our other non ebay web ads in the details that the buyer can choose their own closing company and we can also ( in most cases) do the closing beteen us and save then about $300 to9 $400 on Closing costs, In a lot of cases we can get it done qucker.

Also if it a floating week asap when the make payment in full as per ebay ad we will grant them access (were permitted) to that account so they can start "driving their new timeshare" asap.

Bruce

 

[foreverloves]

Also, I actually have NO IDEA what market value is for this. I looked at the completed eBay auctions and there weren't any similar listings. There were some for multiple weeks, which means MFs in the 2K+ range, or some 2 bedrooms, or some a few years ago. There are some on eBay right for a lot more- a 3 bedroom for $19K and 2 bedroom that has an active auction that is now at $200, but the MFs are $3K/year!!! My MFs are thankfully the cheapest on the property, which I thought would make it stand out. Maybe I'm dreaming!

I did update the auction based on your advice about the closing company! TY!!

If it's a REALLY unusual timeshare, you might get somewhere near asking. What are the listings on redweek saying? (Don't GO by those, but just see what people ask. Realize that a lot of people ask a ton of money and never get it)

You're not wrong; MF matter quite a bit and yours are definitely on the lower side. It really depends on how anxious you are to sell. If you want, leave the auction up and see what happens. You may get some lowballers or whatever. Once you're dead serious, put it up as "no reserve", start it at seriously like $1 or $100 or something and let it go. I think we all know that timeshares are not investments, so you look at it as you are off the hook for that $1700 yearly MF.

Sometimes it takes a certain level of maturity and understanding to realize that most (but not all) timeshares are not worth very much. Last year I very much wanted to buy a Marriott property and approached several sellers who were selling what I wanted. None of them could admit that what they said was almost worthless and most were very angry. I doubt any of them sold their properties. Me? I waited and got what I wanted for the price I wanted to pay.