Subject:
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Re: no reserves on aussie ebay
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Newsgroups:
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lugnet.loc.au
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Date:
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Wed, 21 Jul 2004 05:24:23 GMT
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Viewed:
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1279 times
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In lugnet.loc.au, David Drew wrote:
> I'm mostly a buyer, so I approve of getting rid of 'reserves', they were
> mostly very annoying, and as I saw it, no advantage for the seller over
> just setting a reasonable minimum price.
There is, but it's not immediately obvious. If you post a hot item with a $1000
minimum bid, you might scare off bidders before they even get started. If you
post the same item with a $1 minimum bid and a $1000 reserve, any guy with a
buck to burn will probably start the bidding up, and by the time the reserve is
met, you'll hopefully have a fierce bidding war where the competing bidders are
bumping their price as much to "beat the other guy" as they are because they
want it. It's a lot easier to bid out of your original price range if you do it
by small increments rather than starting out at a high price.
I've even see CCG auctions where your true bid is posted (rather than this
ghost-bidding system that eBay uses, where you can bid your absolute max, but
pay a small fraction of it if noone else bids against you) get skunked by one
moderately high bid early on, where noone else seems to want to bid because it's
such a big commitment up front, but the same card can get bid through the roof
if it goes up in small increments. I've even seen it happen where the two bids
were run concurrently, and nobody from the bidding war ever bids on the other
copy. It's really quite strange.
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Message has 1 Reply:
 | | Re: no reserves on aussie ebay
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| (...) Low minimums do get more bids.........which leads to more bids. Bidders are funny, they see price validation in another unknown entity bidding. I have given buyers generous discounts when an ordinary item just got way out of hand with 2 (...) (20 years ago, 21-Jul-04, to lugnet.loc.au)
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Message is in Reply To:
| | Re: no reserves on aussie ebay
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| (...) I'm mostly a buyer, so I approve of getting rid of 'reserves', they were mostly very annoying, and as I saw it, no advantage for the seller over just setting a reasonable minimum price. (...) Of the approximately 1033 Spam emails I've got (...) (20 years ago, 21-Jul-04, to lugnet.loc.au)
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