Same questions asked before (and unanswered) apply. How is it an
ethical/moral shortcoming for the seller to divulge the reserve amount
of his own auction to someone who asks?
That's my micro-menial (whatever that is) question.
Master Woodbutcher and seasoned termite
Shamelessly whoring my website since 1999
PISS PISS PISS PISS PISS
Actually, it's not. Anyone can ask so that puts them all on equal footing, just
as long as you tell everyone who asks.
We quit using reserves. Kept getting mail asking what the reserve is/ was, kept
telling them they would have to bid and find out.
Now we do higher opening bids. Purpose is bidders will know something's sold
when they make the bid.
well like i said, i think you need to rethink your process.
a search of completed items speaks volumes and is all you need to do. it
tells you the actual going rate (vs the sellers reserve which only tells you
what the seller wants for it), if the price is rising or falling, how often
such items come up, and it takes about 2 minutes.
bottom line, if you dont know what the actual real going rate for an item
is, you cannot make an informed decision about what to bid. the sellers
reserve is meaningless except to the seller.
Admittedly I may be overvaluing my time, but, to tell you the truth, it's
not even worth the time it takes me to submit a bid if there's a chance it
will be lower than an undisclosed reserve. I don't need to spend my time
helping a seller do market research.
I've sold maybe 500 items on eBay and I think I only used a reserve once (an
original Dali painting), but I think I understand why the seller wouldn't
want you to know the reserve. If you know the reserve you might not bid.
No problem, right? As you said it's an auction and if you aren't going to
meet the reserve then why even bid. However, from the seller's
point-of-view an auction is a competition and even if YOU aren't willing to
meet the reserve your bid might cause someone else to increase their bid.
This wouldn't be true if everyone just set their top price and forgot about
the auction, but people get competitive.
For what it's worth, I just set a low starting price (under $10) with no
reserve and let the market drive the price up. In almost all cases it does.
All it takes is two people to get the price up to a reasonable amount. The
only time you get burned in this situation is if only one person wants to
bid. If that's the case then the item being auctioned probably isn't worth
anything anyway. YMMV
Larry C in Auburn, WA
"Unisaw A100" < firstname.lastname@example.org> wrote in message
How exactly is that unfair? Anyone who is willing to give it away
will probably give it to anyone.
I prefer to list reserves right in the text, as the "How much is the
reserve?" email gets to be a pain.
I don't understand why a reserve needs to be a secret. If the item is
worth more than the reserve, the free market will carry it higher. If
the reserve is unrealistic, it won't be met.
A good bidder's bottom line is this, if you bid what the item is
worth, and the reserve isn't met, walk away. If the reserve is met
while you think the item is still a decent value, stay! This is
regardless of if the reserve is public, provided via email, or secret.
People who think of auctions as games, doing no research on the true
value of an item, deserve to pay too much. Hey, they set the selling
Alex, that might be arguable. I would argue the point this way:
Let's assume you are selling with an undisclosed reserve. I, as a bidder, request
that you disclose the reserve to me. You do so. I
can then either choose to place a bid at or above the reserve price, or I can decide
the price is too high and go away.
If I decide the price is too high and go away, there has been no effect on the
auction or the other bidders. No effect means that no
harm has been inflicted therefore no unfair/unethical activity has occurred. (This
assumes that an unfair/unethical action always
results in harm to some party.)
If I decide to place a bid at the reserve price or higher, the effect is the same
whether or not I had advance knowledge of the
reserve price. The bid is entered at the reserve price (even if my maximum bid was
higher) and the amount of the reserve price is
immediately revealed for all to see. At that point, the existence of a reserve is
moot. My knowing the amount of the reserve has not
given me any advantage over any of the other bidders, so again, no harm inflicted, no
Just my (possibly weird) view of the situation.
Wichita, KS USA
It's for sellers who wish to start the bidding low without having to
actually sell below a secret price.
Used to entice people to bid. Dubious effectiveness; I generally pass
on auctions with a reserve, and I suspect that most would actually
fetch a higher price without one.
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