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 21:19:52 GMT
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Viewed:
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1295 times
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> The email stated the majority of members favoured this change, though I • guess
> there are more buyers than sellers as members. Anyone here express an • opinion
> either way to ebay ?
I don't recall being asked. But I would assume that ebay have a lot of stats
about the "success rates" (the item sells) with and without reserves being
used. Of course, success to ebay (the item sells) and success to the seller
are not the same thing, as a seller could regard an item sold too cheap as a
failure. As a buyer, I dislike reserve prices as I suspect they are
associated with unrealistic price expectations by the seller and I am
definitely less likely to bother bidding on them. If my view is widely held,
then I can understand that ebay would be keen to get rid of reserve prices.
I presume ebay's argument is that you can use starting price to guarantee a
minimum sale price. If reserves are only removed from AU actions, then I
assume it is being trialled here to gauge buyer/seller reaction before
either changing their minds or extending it to more markets.
Given the scale of ebay, a lot of people would argue that the "efficient
market" theory ensures that every item (as described) sells for at least
what it is "worth". Of course, "worth" here is what someone is prepared to
pay, so I suspect it's a somewhat circular argument. Certainly this
newsgroup contributes to the efficient market theory, as we are creating a
more informed community of buyers through exchange of information. For
example, if someone says set XXXX is available for $50 in the Target special
and someone else says but it's still cheaper at Big W, then most of us who
have both Target and Big W locally would go to Big W as it's cheaper
there -- hurray for the efficient market theory.
Personally I am not 100% convinced that the efficient market theory does
apply to ebay in general, but I am reasonably confident it would apply to
the relatively low-value easy-to-describe easy-to-ship items that we see in
the Lego categories on ebay. It is the hard-to-ship, need-to-see, big-ticket
items that probably benefit more from having reserve pricing (e.g. cars).
Kerry
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Message has 1 Reply:
 | | Re: no reserves on aussie ebay
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| In lugnet.loc.au, Kerry Raymond wrote: -snip- (...) -snip- Not exactly: What is is 'worth' is one bid increment more than the second highest bidder is prepared to pay. For example, if there are two bidders, one prepared to pay $50, the other (...) (20 years ago, 23-Jul-04, to lugnet.loc.au)
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Message is in Reply To:
| | no reserves on aussie ebay
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| Got an email from ebay(australia) saying they were getting rid of 'reserve' amounts for auctions. They said it was only for auctions run through .au, as opposed to running auctions in other currencies like in US$ which means they would run as per (...) (20 years ago, 21-Jul-04, to lugnet.loc.au)
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