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Subject:	Methodology: Reserve, Controlled Reserve, or No Reserve?
Newsgroups:	lugnet.market.auction
Date:	Sat, 24 Apr 1999 01:35:19 GMT
Viewed:	526 times

Question to all armchair economists/sociologists/game-theorists: (especially you, Todd ;-) From both the stand point of the buyer, and then the seller, what are your opinions of the following policies regarding secret reserve prices in auctions: 1) Reserve ok, whatever the seller chooses, goes. 2) Controlled reserve - the reserve price cannot exceed the opening bid by either $50 or 50%, whichever is greater. 3) Controlled Reserve: reserves are ok, but seller must state a "Value Range" that brackets the reserve. Sellers that state absurdly wide ranges would be advised to do otherwise. 4) No reserves whatsoever. If you insist on getting at least price X, then they must choose X as the minimum opening bid. Thanks very much for your input! Derick Bulkley

Message has 5 Replies:

		Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
(...) 4. --Todd (25 years ago, 24-Apr-99, to lugnet.market.auction)

		Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
(...) Definitely 4. 2 and 3 make no sense whatsoever -- reserves don't work unless they are secret. 1 just sucks, as has been described in this thread already. Steve (25 years ago, 24-Apr-99, to lugnet.market.auction)

		Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
I understand why sellers like reserves, but as a buyer (1) I'd prefer that they were banned, limited, or cost the seller a lot of money to do. If the listing fee is 50 cents, charge 20% of the reserve whether the item sells or not. Plus 5 bucks to (...) (25 years ago, 25-Apr-99, to lugnet.market.auction)

		lugnet.market.methodology? (was Re: Methodology: Reserve, Controlled Reserve, or No Reserve?)
(...) There is or recently was a discussion of a lugnet.market.discus...ique/.etc. and then I saw this note with methodology in the subject. I think that .methodology would be perfect for encapsulating the meaning and goals discussed, and also for (...) (25 years ago, 26-Apr-99, to lugnet.market.auction)

		Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
(...) If an auction is held in a forum which attracts a reasonable number of potential buyers, and runs for a reasonable amount of time, and the minimum bid is set reasonably, a reserve should never be needed. Ways in which I see a reserve as being (...) (25 years ago, 28-Apr-99, to lugnet.market.auction)

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