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 Replies: 17 / Views: 2,751 |
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Pillar of the Community
United States
4000 Posts |
I'm looking at a listing where the seller say all of his auctions are no reserve (every listing says this), but he has starting bids of $19, $22, $25, and $29.
Isn't that setting a reserve?
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Moderator
 United States
6563 Posts |
A "Reserve" is a price set that the auction must reach for it to be "winable." The prices that he has is just an opening bid.
Example
Opening bid of $20 is where it starts
Reserve of $40 might be set because that is the Least amount that he is willing to accept for the item. If it doesn't reach for then it cannot be won.
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Pillar of the Community
 United States
4000 Posts |
So, if he has an opening bid of $29, and I bid $20 with no other bids - can I win it? Or is $29 the minimum, and if so, isn't that still setting a reserve?
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Pillar of the Community
United States
819 Posts |
ya got to meet the opening bid to have a shot at it.
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Pillar of the Community
Canada
838 Posts |
I get annoyed too by the claim "no reserve" when there's a high starting bid.
It's a bit like the mugger promising you he won't use a knife, only a gun. Gee thanks...
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Pillar of the Community
United States
4000 Posts |
I don't see the difference, other than the play on words.
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Pillar of the Community
Canada
1733 Posts |
nope, an opening bid is not a reserve. If they open the bidding at a live auction for a dollar bill at one dollar and refuse to sell it for less, that's common sense. On ebay people push that concept of common sense of course. If the dollar has a ten dollar reserve, bidding can start wherever but the item won't be sold unless it hits at least the reserve price of ten dollars. |
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Moderator
 United States
189340 Posts |
Quote:
I don't see the difference, other than the play on words. I look at it this way: one is known in advance (the starting bid), the other is not revealed until it is met (the reserve). |
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Pillar of the Community
United States
4000 Posts |
I agree with you, jbuck. I just don't agree with wording, I guess. It's all good, I'm ok with it. If the min is $29, fine. I just didn't understand why it would be listed as no reserve.
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Pillar of the Community
Canada
4227 Posts |
Every auction has to have an opening bid in order to win it. The person auctioning the item has the right to set that opening at any price they want. That doesn't mean there's a reserve, even if the effect may be the same.
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Pillar of the Community
United States
2120 Posts |
Often times sellers will put what their "reserve" amount would have been, just to save face and be upfront. That way if you dont want to at least pay that much you dont have to waste your time. I personally appreciate it.
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Pillar of the Community
United States
1882 Posts |
There is such a big difference that I refuse to bid on an auction with a reserve. Nothing more ridiculous than being the highest bidder, and then having to keep raising your bid to get over some secret number. The reserve might be higher than market value, so you go to all the trouble to figure out what it should go for, place a bid that makes you the highest bidder at the end, and *still* not win it. My blood pressure is rising just thinking about it.  |
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Pillar of the Community
United States
4000 Posts |
I agree, Ian.
Like I said I'm OK with it, and like you said, at least you know the cost of the buy-in to play poker. I just didn't understand how it was considered no reserve. Now I understand.
I would prefer it that way over getting Steve's boiling blood way any day.
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Bedrock of the Community
United States
14454 Posts |
a reserve is a hidden number that you do not know what it is until its met a opening bid is just the least he wanted to start it out at. There is a big difference. If he starts it out at 29.00 and you bid 36.00 and no one else bids you get it for 29.00. If he has a reserve at 35.00 and the opening bid is 29.00 and you bid 36.00 and no one else bids on it you will win it for 35.00. Allot of people will not even bid on a reserve auction no matter if it says it in the description or not. I have seen stuff with a reserve not sell but they relist it with no reserve and it sell for more that their reserve was the first time
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Pillar of the Community
United States
924 Posts |
I don't mind a higher starting price but I hate bidding when there is a reserve price.
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Bedrock of the Community
United States
14454 Posts |
yeah allot of people will not even bid if they see there is a reserve. The reason people do that is ebay charges more to list when you start it out higher (I think) so they start the bidding low and put a reserve on the item, but I think they lose potential bids because of the reserve from what I have seen |
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Replies: 17 / Views: 2,751 |
Posted 05/13/2010 1:28 pm
