Subject:
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Re: Popula, the quirkiest auction site?
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 24 Feb 2000 17:14:25 GMT
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Viewed:
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596 times
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Kevin Salm wrote:
> As for the ridiculously high opening bids, this is the fault of the sellers, not
> Serious Collector itself. In my mind, high opening bids DO drive away bidders.
> Sellers should be willing to take the risk that bidders will drive up the price
> of their items and not initiate auctions with such high start prices. Sellers
> unwilling to take such risk might be better off attempting a simple sale.
> Enough straight sale venues exist for this purpose.
This is really a chicken-and-egg situation: in a venue where there are
not enough bidders to run the price up, sellers set the price to what
they hope to get and usually the item sells at or near that price. This
is one reason I don't use venues like this - I can't be bothered to work
out what the price should be (I'm lazy!) and it's so much easier to put
everything on eBay at $1 and let the bidders work out how much it ought
to go for. More fun for everyone too. Of course sometimes a lot goes for
much less than it should and someone gets a real bargain and I take a
loss, but not very often. Some sellers are not willing to take that risk
though. Much of (non-Lego) eBay in fact works on the high opening
price/one or a very few bids model: I think a minority of items sold are
actually truly auctioned (and look at the number of items which have no
bids at all because their initial price is too high).
Kevin Wilson
--
Personal Lego Web page:
http://ourworld.compuserve.com/homepages/kwilson_tccs/lego.html
eBay auctions:http://members.ebay.com/aboutme/kevinw1/
Subscribe to my Lego auction mailing list:
http://www.onelist.com/subscribe/Legopartsales?referer=1
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Message is in Reply To:
 | | Re: Popula, the quirkiest auction site?
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| (...) Yes, the auctions are a bit slow as compared to other venues. But the fact that sniping is eliminated should be incentive for bidders--they can rest easy that they will not lose their high bid standing without time to react. Of course, many (...) (25 years ago, 24-Feb-00, to lugnet.market.theory)
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