If you’re not Buying It Now (BIN) when you don’t win, you’re missing out.
Have you been using the BIN feature on DealDash? You should, because Buying It Now is almost as good as winning the auction. I will explain more down below. However, know that doing a BIN on an auction that you don’t win will take the “sting” out of losing. To find out more about Buying It Now, read on down below.
BIN? What’s That Mean?
BIN is one of the best ideas that DealDash has ever come up with. There is no restriction on who can Buy It Now, other than the fact that you have to have placed at least one bid on that auction. Thus, it’s offered to every bidder in every auction, not just to the first few as I have seen on some other bidding sites. With BIN, you can purchase the item at the retail price that is listed on each and every auction page. Then, DealDash will return all of the bids that you spent on the auction to your bid bank.
Should I Always BIN?
If you’re wondering if you should BIN an auction or not, then you probably should! However, you don’t want to just guess if it makes good financial sense. You just need to do a little math to see how many bids that need to be placed before you reach the retail price.
This is easy to calculate, especially if DealDash is running a Free Auction Weekend promotion. Simply take the retail price of the item and divide it by the amount that you spent on each bid. The answer that you get is the amount of bids that you would need to spend to break even on the auction. For example, if you are bidding on a $100 item and you paid .15 per bid, your break even point would be 667 bids.
If it is not a day when DealDash is running a Free Auction promotion, then you need to estimate how much the auction will end at, and do your calculations from that. For example, if you do a little research and see that the sale $100 item typically ends for a final auction price of 10, then you need to take off that $10 before you do your calculations, so your break even price in this situation would be 600 bids.
If you end up spending the number of bids that you have previously calculated and you still haven’t won the auction, that’s when you know it’s time to BIN the auction. Don’t worry, though, because you will get every single bid that you spent returned to your account when you BIN the item. You will also get free shipping, Free shipping is something that DealDash offers on every item.
Thanks for Reading the DealDash Blog
I hope that you found this DealDash Blog article on Buying It Now helpful. Another way to learn more DealDash information is to read the DealDash Reviews blog and our sister blog DealDash Tips daily. There is so much to learn about DealDash. Have a great time on DealDash, and happy Bidding, everyone!
This sponsored DealDash blog article was written by Dawn E, a mother of 3 who loves DealDash. Read even more at DealDashTips.com, DealDashReviewed.com, or on her own blog, DawnBlogtopus. Dawn was compensated by DealDash for this blog post.