I must admit i'm guilty of the Bid @ £1 and BIN @ £2. The PC software i'm selling has an RRP of £4.99 in the 1NR promotion, making the £1 bid seem really good value!
The problem is auction sites are seeing a trend where customers are more and more likely to use BIN to get an item straight away rather than hanging around. That's not me guessing its actually been researched and hence why eBay is moving more and more into Shops rather than traditional auctions (will find a link to where i saw it!). If my items were £1 NR and £4.99 BIN I could see some new buyers seeing them, wanting the item straight away but the £4.99 tag results in them heading back to eBay where competition is extremely stiff in the Software categories.
At least the £1NR, £2BIN makes it excellent value whether you Bid or Buy and i can directly compete with my opponents on the other side.
I really like the £1NR idea Its something we can shout about to the whole World....
I agree its not worth having a £1NR for an item worth £1...Customers would vote with their feet and find the item somewhere else for £1 BIN. But i do believe anything worth at least £2 is still a bargain to be had at £1. This is especially true on eBid where at the moment some items may only see 1 or 2 bids so it probably won't reach £2 anyway
This is not a moan/criticism because I really enjoy taking part in the eBid community events, etc
Maybe if i put in the auction description RRP £4.99 that would create a better idea of the bargain the item is?