eBay announced they are testing a change to the Best Offer function that allows buyers to adjust the expiration date when placing a best offer on an item.
According to eBay, Best Offer is one of the fastest growing buying format on the platform and until now sellers had 48 hours to respond to an offer.
With this test, the company is giving a select group of buyers the opportunity to change the duration of their offer remains valid. The new expiration periods being offered are 12, 24, and 48 hours.
eBay says this change may benefit buyers who have to decide on their purchases within a shorter time and allow the buyers to consider other listing they may have passed over.
Sellers still can set auto-accept and decline thresholds to automate responses and speed up selling decisions based on target price points.
Best Offer – Why Use It?
Many sellers do not use Best Offer because this type of selling format may make little sense if the seller sources its own products or sells under a brand they created themselves.
However, sellers in the US that sell new brand name products sourced from the manufacturer directly or an authorized wholesale distributor may be subject to a Minimum Advertised Price policy (MAP Policy) established by the brand that requires the seller to maintain a minimum advertised price on all advertising (off- and online).
For those sellers, Best Offer enables the seller to accept a lower price without violating most MAP policies and compete on an equal footing with retail stories that can accept a deal below the advertised price.
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