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 06:47:05 GMT
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Viewed:
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3711 times
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In lugnet.loc.au, David Laswell wrote:
> 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.
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 bidders having a skirmish.
> 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.
Yes it's funny when identical items go for different amounts.
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Message is in Reply To:
 | | Re: no reserves on aussie ebay
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| (...) 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 (...) (22 years ago, 21-Jul-04, to lugnet.loc.au)
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