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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Sun, 25 Apr 1999 01:58:32 GMT
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Reply-To:
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lpien@ctp[antispam].IWANTNOSPAM.com
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Viewed:
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542 times
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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 add insult to injury.
1 -and remember, it is the BUYER that you want to attract, as well as
the seller... Perhaps even more so! the seller pays the fee but the
seller won't be back if there aren't hordes of buyers actively seeking
out his items (2)
2 - that was a zinger :-) for your previous comment that the sellers pay
the bills. I still have to post an example showing why that 50 cent
raise could just as easily ended up netting the seller 50 cents more
than 500, but costing him the 575 the 50 cent raiser may well have went
to beat 500 if the 50 cent raise wasn't allowed. (3)
3 - hey, I just did post an example.
Derick Bulkley wrote:
>
> 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
--
Larry Pieniazek http://my.voyager.net/lar
FDIC Know your Customer is wounded, thanks to you, but not dead...
See http://www.defendyourprivacy.com for details
For me: No voyager e-mail please. All snail-mail to Ada, please.
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