={ Bid Increament Problem and Suggestion }=

[jewelryzone_in1]

We the sellers are facing lot of problems and difficulties in selling our products

Recently, I have sold some items at the of Rs.5 (after deducting shipping and Baazee fees) that was costing Rs.210 to me and I was selling it for Rs.250 successfully at my shop - (Total loss to me).

I think this all happened because of Baazee's Bid Increament. I don't know how many of the sellers will agree with me but my personal suggestion to Baazee is as follows for the bid increaments:

If an item value is Rs.500 or less (this should be added to 'one paisa auction' to enter the value of item. So that it will be easy for buyers to know the value of items that they are bidding for)

First bid increament should be Rs.100 or 10%
Second bid increament should be Rs.90 or 18%
Third bid increament should be Rs.80 or 16%
and it goes on...

This may help the sellers as well as the buyers...

The serious buyers may bid in the begging and then if other bid on the same item then after few bids the buyers don't mind bidding it more as the bid increament is reduced.

And it may help the sellers that they may not sell their items as the thrash rates.

If any of the sellers like this way please do vote this plan and reply in favor of it.

Regards,

Mohammed Mahtab Khan
A Baazee Seller and Buyer

[jewelryzone_in1]

Hello to all,

Still! No seller interested in the above given plan? Please try to understand the plan.

This way, we the sellers get benefited and also the buyers... because after some bids or near the closing time the increament will be very less and other people may don't like bidding on the same.

Think about it... Awaiting your response...


Regards,

Mohammed Mahtab Khan

[pranavnayak]

Hi ,I am not a seller but as a buyer/bidder i think this is a good option bcos as the amount increases the bidding increment should change, moreover I personnally feel that there should be a fixed bid-increment till a certain value which will be specified by the seller, once the bidding amount crosses that amount then bidders can increase the bid by as much as they feel or perhaps should bid at a lower increment.
Lets say a seller wants an item to be sold for Rs.3,000 then he can have fixed min bid. increment of say Rs.100. When the bidding amount crosses Rs 3,000 then the increment could be reduced to Rs. 50 bcos the seller is getting what was desired by him and the bidder will get the product for a lesser cost. Moreover it will also encourage the bidders to bid if the increment value is less.
I am new to baazee so I am writing from my personal experience, my ideas could differ from many other baazee users, so sorry for that.
Regards,
Pranav Nayak.

[induscraft_in1]

Hi,baazee bid incremment is problem for serious seller these days,
1)these bid increment defind by survey conducted by ebay in europe and usa but before baze defined bid increment a survey conducted in india and asian countiries where still internet use in not so widely spread
2)maximum of user use internet n offices and also internet selling and buying as popular as western countries.so baazee please change with using fact and survey of india and asian countries.
i am not fully agree with suggested bidincrement with jwell but this should be redefined.thanks induscraft

[jewelryzone_in1]

I thank you for your postings.

Attn. all sellers.

Please atleast suggest some new bid inreaments if you don't agree with the one that I have suggested.

Because it will be easy for Baazee to select one of our plans that may benefit us.

Regards,

JewelryZone

[jsa7cornell]

Greetings JeweleryZone!
Thanks for your thoughtful analysis and suggestions about the bid increments. Constructive, collaborative insights like yours is extremely valuable to the entire community, and I would encourage you to keep up the great input. Your comments are valid, and they mirror feedback from several of the sellers I visited in both Chennai and Hyderabad this past weekend.

First, I wanted to give you some insights on the change. Then I want to explain what we're doing to monitor the impact on both buyers and sellers alike.

Some quick thoughts on bid increments and velocity...
In a perfectly liquid marketplace, the bid increments should NOT impact the final price - in fact, lower increments should incent buyers to pay their absolute maximum price (rather than the increment below) and thus a higher fair market price for the item. A common example is financial stock exchanges, which when migrated to digit-based increments, have shown greater liquidity.

This said, we recognize that there are many other dynamics at play on Baazee. Absolute supply/demand is the first issue, but more subtle aspects such as auto-bidding, seller pricing, and shipping fees can dramatically change the market liquidity. This is why today, bid increments are not Rs .01 🙂

For Baazee, the Bid increment change was made to further bring the Baazee platform into proven norms of eBay's marketplace, plus to enable greater demand by making baazee a more consistent and thus pleasant buyer experience. Historical buyer feedback has been that lower bid increments would bring more buyers to an auction, and our sincere hope and expectation is that we can achieve this and in turn provide greater sales and profits for sellers. We created the current increments based on thorough analysis around historical trends on the site.

As with any material platform change, we are watching it's impact on the marketplace very carefully. First, we're digging deep to analyze site data. Furthermore, we've been talking to sellers and buyers to understand what they are seeing. Some sellers voice your similar comments, but some say they've seen no difference in selling prices. We've spoken to buyers, who generally claim they are more active because of the change. Lastly, the data we see supports this behavior - that there are many more bids on the site today than before.

Based on our studies, my initial thought is that if your Rs 1 items are NOT converting at the price you require, you may need to reset your strategy to start-price auctions. Furthermore, some level of quick-buy mix may also help. Lastly, buyers may be anticipating your shipping rate and thus bidding lower.

We're not done studying the impact of the change, but we're already working on helping overall market liquidity. For example, we'll soon release some platform changes that we think may help buyers become even more active.

Keep the good input coming, and we promise that we will listen.





John Anderson
Head of Category Management