a misguided binner

So…here is how it happened.  A new collector decided that syroco corkscrews and openers were his thing.  He tried to buy few and started to get beaten out by those who were also interested in the same type of item.  Normal on ebay, but the collector decided to fight back.  And, he started to email the sellers and ask for buy it nows.

Now, I would have no problem with that, except the buy it nows he was requesting were outrageous.  And, he would ask for buy it nows on items that no one but him had seen, and would have slipped through undetected.  One such example was a syroco figural opener that was listed in an odd category, with an even more obscure description, and with an asking price of 2.99.  The over zealous ebayer, emailed the seller asking for a buy it now of 100$.  Previous syroco openers would top out around 15 bucks…

So, the item was given a 100 buy it now, the binner snapped it up, and he was thrilled.  Problem is, he probably could have won the auction for 2.99.  And, had someone else seen it, the price may have hit 25…

The collector is still holding on to his opener, convinced that it is worth $400 as it is "RARE."  A term that is used  too often in collecting circles, and usually inappropriately.

The question remains, why would someone ask for a buy it now on an ebay item, when the item could have been won for the asking price?  And, if it is a lack of patience on the binner’s part, why would you ask for such a high dollar amount?  I think as collectors we have a tendency to wreck the market.  We get over zealous over an item, or try to buy one of everything as quickly as we can.  We throw money at sellers to try and get that next piece.  Haven’t you people ever experienced the joy of walking stall to stall at a flea market and finding that one piece that set you back 5 bucks.  There is so much more satisfaction in the rewarded hunt, than in the empty wallet.

But, I digress….  How much should one BIN, if one chooses to BIN.  And, if one does BIN, and one BINS way over the 2.99 asking price, was the BIN actually worth it?