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 Replies: 18 / Views: 2,614 |
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Moderator
 United States
23531 Posts |
What are your thoughts on Reserve prices?
Do you bid on items with a reserve?
rggoodie
aka Richard
"catch em doing something right"
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Valued Member
United States
111 Posts |
I have used reserves as a seller a few times, and wasn't happy with the results. As a buyer, I am apt to skip reserve auctions, unless there is no identical item offered with no reserve.
Bottom line...... I'll bid on them as a last resort.
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Valued Member
United States
256 Posts |
If I REALLY want the item I will usually overlook the reserve and bid. Of course I always set a limit that I will bid and if I don't meet the reserve, I'm done.
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Pillar of the Community
United States
1703 Posts |
I have sold a number of coins using reserve, with pretty good results.Althought I don't use it often.Sometimes you have to protect your investment.
I have also bid on a number of auctions that had a reserve. If I want the coin bad enough and the price is still in the ballpark, I will stay with it.
Edited by TLS5933
01/18/2007 5:11 pm
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Moderator
United States
23522 Posts |
I bid without regard to a Reserve since, like SE, I always bid my best the first time and walk away if it isn't enough. As a seller, I've had so-so luck with Reserves, but will use them again in the future to protect my investment. Indeed, there are situations where it might appear attractive to a buyer to see a coin thought worthy of a Reserve, especially from a reputable seller.
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Valued Member
United States
143 Posts |
I will bid a Reserve, but just until I hit MY limit.
Selling, the time I will usually use it is if like items are going closse to or slightly below my cost. Then, it is just on gold bullion ($50 Eagle, etc.)
On the other hand, the huge Buy-It-Now scares me away as a buyer. When BIN is at or just above opening bid, why bother.
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Pillar of the Community
United States
830 Posts |
I usually ignore auctions with reserves unless it's a coin that I just can't live without (read: I'll pay stupid money to get it!!!) but as a seller (not much in coins yet) I do not use reserves. I tried it, and got very few bidders, even fewer "watchers" and rarely got bids up to the amount of my reserve. That made me change my selling strategy on PayBay. I have listed many items of stuff I used to collect, some quite valuable, some not, and since I started all of the auctions at $0.99 with no reserves, I got a lot of action, lots of bidders, watchers, and questions from overseas buyers. I also got more money than I expected on most of those items, less on some others, but it all evens out in the end.
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Moderator
Australia
16837 Posts |
Those of you who like reserves should be thankful you don't live Down Under. ebay Australia has been running a "let's abolish reserves and see what happens" experiment for a few years now. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
1767 Posts |
quote:
What are your thoughts on Reserve prices? Do you bid on items with a reserve?
I don't understand the term 'reserve prices'. Please explain. Thanks. Edited by Mila_cent
01/22/2007 04:06 am
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Pillar of the Community
United States
1703 Posts |
Mila_cent, When you sell on ebay,you can list you coin with a reserve price.If that reserve price is not met in the auction,then the coin does not sell.It's a way to protect your investment so you don't have the possibility of loosing a lot of money on a rare or expensive coin. True auction format is to list the item with no reserve and a low starting bid and let the coin sell itself.While that works very well most of the time it can be risky with a high value coin. Terry |
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New Member
United States
40 Posts |
As a bidder, I avoid auctions with reserve...
I assume the seller is trying to catch a whale or does not trust the value of the coin. I see too many not sell.
Best way to make a good profit is to get many bidders (some of which become emotionally attached).
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Pillar of the Community
Canada
1267 Posts |
There were a couple of people on the CU forum who placed the same type coin on ebay with and without reserves. Almost every time, the coin with no reserve far outpreformed the with reserve coin.  |
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Forum Dad
United States
24167 Posts |
Let's talk about reserves... You have a coin that you want $500 for, that doesn't sell, lets look at the fees... Open the bidding at .01 with a $500 reserve... Insertion fee $4.80
Reserve fee $5.00
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Total $9.80 Open the bidding at $500, no reserve... Insertion fee $4.80
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Total $4.80 So let's review, both scenarios accomplish the exact same thing, your coin won't be sold for under $500. But, if you used a reserve, you've just given Meg a $5 bonus for failing to find you a buyer. Why people use reserves is beyond me, it's ebay's biggest scam. If you're afraid to start it low and let it run, just start the bidding in your comfort zone and keep some of your money. Meg doesn't need it, she's in her hot tub earning 20%. Reserves are a huge money maker for ebay. They don't want reserve auctions to sell, and they usually don't. When they don't sell, they get to keep the fees, and the seller will usually relist it anyway, so they get even more money. |
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Pillar of the Community
United States
2269 Posts |
I have used reserves and ended up not selling the item.
Like everyone else I generally avoid auctions with reserve prices.
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Pillar of the Community
United States
751 Posts |
quote:
True auction format is to list the item with no reserve and a low starting bid and let the coin sell itself
I've been waiting a long time to ask this question: Why is starting an auction at $0.99 a true auction? What makes that starting price any more of a true auction then starting at $25? Or $2500? And why not 1 cent? I've been to live auctions and it would be a complete waste of everyone's time to start every item at 99 cents. I'm sure Lloyd's and Sotheby's concurr. Just something that's been sticking in my craw. |
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Valued Member
United States
129 Posts |
I avoid them myself, I have never won a auction with a reserve price. And personally I don't understand why sellers use them specially with Bobby's example.
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Replies: 18 / Views: 2,614 |
Posted 01/18/2007 5:08 pm
