What is the point of a BIN on Flippa?

[solarix]

OK I have a question. How is it possible that someone list a domain on Flippa with a BIN (buy it now) and have the ability to reject it, probably so they can only raise the price higher. Why does Flippa even offer a BIN if the seller does not even have to abide by it? To me "Buy it Now" means the buyer would be making an instant purchase on the item for the advertised price. Am I missing something here?

 

[D. Wells]

Yeah, you're missing something.

Flippa listings cost money. If someone buys at BIN and doesn't pay then the seller gets no refund for that listing.

So the option to reject a BIN bid is there for a reason. Someone would most likely reject new members or those with negative feedback, etc.

 

[solarix]

Thanks for the response. I guess it makes sense for seller protection, which I totally get. Hopefully Flippa can work on a better way to verify buyers, so the Buy It Now feature is more streamlined and useful on their platform.

 

[FlippaDomains]

Yeah, you're missing something.

Flippa listings cost money. If someone buys at BIN and doesn't pay then the seller gets no refund for that listing.

So the option to reject a BIN bid is there for a reason. Someone would most likely reject new members or those with negative feedback, etc.

Thanks for the response. I guess it makes sense for seller protection, which I totally get. Hopefully Flippa can work on a better way to verify buyers, so the Buy It Now feature is more streamlined and useful on their platform.

Makes sense for seller protection, though it's also a terrible experience for the buyer. We're aware of it and will be making this change soon.

 

[Nerevar]

I think it has a useful role, similar to the price of the domains in the "make offer" on Sedo. It shows to the buyer the range of the expected offer. At the same time, it allows the seller to list the same domain at GoDaddy auctions with BIN. Since it is rather unprofessional to put instant BINs everywhere, you have to choose only 1 marketplace with instant BIN, and we all know that for the majority of sellers that will be GoDaddy / Afternic. So it is very useful to have a "delayed' BIN on Flippa: it gives to the seller the time window to delist the domain from GoDaddy BIN before accepting the BIN offer on Flippa.