Subject:
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Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
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Newsgroups:
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lugnet.market.auction
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Date:
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Sat, 24 Apr 1999 03:59:06 GMT
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Viewed:
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526 times
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In lugnet.market.auction, dbulkley@SeriousCollector.com (Derick Bulkley)
writes:
> 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.
4.
--Todd
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