Flippa: to BIN or not to BIN?

by 16 replies
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I've just started my first Flippa auction at 1 USD and ive received one bid of 5 USD in the 4 hours that it's been up.

The site makes no money and has little traffic so I'm worried that people won't be able to easily find it as the search filters are all based around revenue and traffic..

My question here really is should I place a BIN on the auction now, or wait, or not at all?

Thanks to all

Link: https://flippa.com/2812311-world-s-1...and-many-blogs

Jake

PS. how much do you think it will go for?
#main internet marketing discussion forum #bin #flippa

  • Whenever I've sold sites on flippa with little revenue/traffic I've always done the same thing....

    A short auction (3/5 days) $1 no reserve

    It helps to generate bids and results in a flurry of activity.....normally I've ended up with more than the BIN I had in mind.

    In this case I wouldn't set a BIN until more bids have come in and you can set a realistic price....but that would be the way that I would do it.

    Regards

    Chris
    • [1] reply
    • Thanks for that Chris,

      I've also seen I have 4 watchers- whats the point in that if flippa doesnt work like ebay in the sense you cant bid just before the time is up and win it as they have a 5 hour period. Or does watching it mean they have kind of favourite my auction and will consider it / do research on it / are waiting for others to comment?

      • [1] reply
  • Banned
    Expect all the real activity to be on the last day. People watch for different reasons. Sometimes I watch just to see what a site brings in. If I watch due to interest, I won't bid until the last day, close to the end and many other bidders with a genuine interest will do the same. Auctions longer than 5 days, unless it's a really high dollar auction, just put people off. They're into instant gratification.

    I doubt I'd put a BIN on it. Think I'd just let the auction run its course and see what happens.
    • [ 1 ] Thanks
    • [1] reply
    • I'll get your word on this. I am about to sell my second site there. Last site sold successfully but now I am going to sell a site with little traffic and revenue.

      Thanks
  • no bin... drive traffic to your auction
  • I suggest you BIN really high to give the ppl perspective of getting something of higher value for less. marketing 101 )
    • [1] reply
    • That depends on whether you want them to exercise the BIN price or not.

      As far as BIN there are too many variables to set a standard rule.

      1) Are you trying to get as much as possible or trying to turn it quickly?
      2) What is the real value of your site -- most newbies (sorry) are unrealistic about what their site is really worth. To get $1000 for a site that is brand new and has no traffic you are going to have to find the exact right person that needs your domain name. That is hard work and odds are that person is not going to just show up on flippa while your auction is going on.

      Good luck though and keep trying!
      • [1] reply
  • Also,

    I dont get how my site is meant to sell for much if people are only going to bid $5 more every time? it'd take 200 bids just to get to 1000 USD.

    Does anyone know the answer to this?
    • [1] reply
    • Bids can be greater than $5... Someone can come in with a $200 bid just to keepmpplmfrom bidding, hence increasing the price...
  • Also, on average - how many watchers is a listing likely to get?
    Thanks
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    Flippa: to BIN or not to BIN?

    I've just started my first Flippa auction at 1 USD and ive received one bid of 5 USD in the 4 hours that it's been up. The site makes no money and has little traffic so I'm worried that people won't be able to easily find it as the search filters are all based around revenue and traffic..