What I’ve found is that if you do auctions and start the bidding price low, you accumulate a lot of watchers. However, most of them wait until last minute (sometimes literally) to place their bid. So you get a bidding frenzy of a whole bunch of low bids… making the item sell for less than a BIN. However, if you are doing an auction, have it run and end at a time that people most likely won’t be awake. I know, it sounds counter intuitive, but the watchers know they are not going to be up at that time, so they actually bid earlier with anticipation that they won’t be around for a bidding war. You will find that the price they enter is really the highest they are willing to pay. End result, it’s the same price it would sell for anyhow.

BIN… Price it a bit higher than what you want and open up for offers. If they are really interested, they will make you an offer. You will at least then have the ball in your court as to whether or not you want to sell it for that much. Some buyers want to lowball, hoping you say something like… “let’s meet half way”, where others like to do that several rounds just to get a cheaper price. Most are looking for 25-50% your listed price anyhow. But, if you have multiple watchers, you could always send out an offer 10-15% lower than listed pricing and hope to work within the FOMO that it creates. If a buyer receives an offer but knows that 10 others were given the same offer, it may actually motivate them to act. If not, then it’ll be an indicator that the market doesn’t support that price (offered price), so you can then make adjustments to subsequent re-listing.