 | | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) I agree. I personally don't bid on reserve price auctions until the reserve has been met because it is a waste of my time (especially if you cannot make firm bids :-)) -- Owen (26 years ago, 23-Apr-99, to lugnet.market.auction)
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| | Methodology: Reserve, Controlled Reserve, or No Reserve?
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Question to all armchair economists/sociologi...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) (...) (26 years ago, 24-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) Yeah, I gotta agree. I understand how the same item can reach 2x the reserve if the bidding starts low and then go unsold if the minimum is the high amount the seller wants, which kinda sucks, but I still don't like reserves, either as a buyer (...) (26 years ago, 24-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) 4. --Todd (26 years ago, 24-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) And the potential to make bidders *EXTREMELY* violently angry. Imagine if you lost out on something because your high bid of $110 was $15 less than the secret reserve price, and you held off on bidding on the same item in another auction (...) (26 years ago, 24-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) 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 (26 years ago, 24-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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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 (...) (26 years ago, 25-Apr-99, to lugnet.market.auction)
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| | lugnet.market.methodology? (was Re: Methodology: Reserve, Controlled Reserve, or No Reserve?)
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(...) 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 (...) (26 years ago, 26-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) That used to be the case, but they've changed it. Now the listing fee is tied to the min bid or the reserve amount, whichever is greater. I still hate reserves, though, and I don't bid on items with reserves. My choice is (4) no reserves (...) (26 years ago, 28-Apr-99, to lugnet.market.auction)
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| | Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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(...) 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 (...) (26 years ago, 28-Apr-99, to lugnet.market.auction)
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