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 Replies: 10 / Views: 821 |
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Forum Kid
Kuwait
1523 Posts |
This goes for absolutely anything.
If something highly valuable, lets say a PRF GSA That goes for over $500 on the market and is being auctioned, by the end of the auction the bid has gone upto only $45, What can the seller do? Can he cancel if underbidding?
Can the bidders argue if he cancels auction?
Thanks!
TKC!
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Pillar of the Community
United States
7123 Posts |
once an Item is put up for auction if it has no reserve price , it is supposed to sell to the highest bidder, regardless of the outcome,, However there are some sellers who if the item does not sell for what they consider to be a resonable value, will either not send an invoice, or not send the Item,refuse payment or any number of other things. On ebay they risk a negative but that seldom stops them from not sending the item if the outcome is less than acceptable. Rick |
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Bedrock of the Community
United States
14454 Posts |
they can also cancell the item listing up to 12 hours before the auction ends and may be able to do it even after that time if they say there was a error in the licting or something like that
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Valued Member
United States
458 Posts |
Shouldn't this thread be in the ebay/auctions section? To me it no matter. But to respond to the kid's ?. That's why you have a reserve price. Supposedly, once a bid has been made you cannot cancell the auction--BUT, I have seen where the seller has cancelled the item because he sold the item, even with bids on the item. Also I might add, if my understanding is correct, even with bids on item, if the sellers believes what he wants will not happen, 24 hours BEFORE the auction ends he can cancell the auction--Now even tho s/he did this, they are out the money for the auction--ebay (fees) still gets paid! So be aware of that. If I am wrong, I'm sure someone will correct me, but that is my understanding reading ebays policies. For myself, IF it looks like that I will not get what I am looking for, AND I did not put a reserve, I'm pulling that sucker--irregardless of consequences, I will not sell for less that what I at least paid for. I'll eat the fees, & shipping mind ya, but no way will I take a total loss on the item and then eat the fees & S&H costs--(not including my fuel & special trip to the PO). Soooo, that is why I rather pay for the reserve fee, which will cover ALL my costs if it is met, anything over that is gravy--  CiScO Edited by CiScO
07/17/2006 4:18 pm
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Bedrock of the Community
United States
12437 Posts |
quote:
Originally posted by Metalman
once an Item is put up for auction if it has no reserve price , it is supposed to sell to the highest bidder, regardless of the outcome,, However there are some sellers who if the item does not sell for what they consider to be a resonable value, will either not send an invoice, or not send the Item,refuse payment or any number of other things.
On ebay they risk a negative but that seldom stops them from not sending the item if the outcome is less than acceptable.
Rick
I had a situation like this happen to an item I won on ebay one time. I won a Columbian commem half for around $15 and judging by the photos posted, it was at least MS63+ so I was getting a real bargain. I had paid within a hour of the auction ending and then never heard from the seller about shipping confirmation. I contacted him by email several times to no avail. I then contacted his retail store and said that if I didnt get a response within one day that I would file a complaint with ebay. This was 12 days after the auction ended. 15 minutes later I received an angry email from the seller stating that my money had been refunded through Paypal (even though he claimed to have shipped the item and sent me confirmation of it), I have been banned from his auctions, and if I ever contacted him again, he would file "charges" with my local police dept for harassment and bill me for tracking down my info through his ISP! He claimed that I threatened his store staff over the phone and coerced them into a refund (LOL!) and that I was a raving lunatic. I never did receive that commem half and I think he was just mad for it being sold so inexpensively although I wasnt getting such a great deal that he had to be a nutcase over it  |
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Forum Kid
 Kuwait
1523 Posts |
HAHA
Interesing why some people don't put reserves!
TKC!
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Pillar of the Community
United States
986 Posts |
They just want to save the dollar or so that would otherwise be tacked onto their listing fees.
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Valued Member
United States
458 Posts |
Actually, if yawl recall, IF the reserve price is met, the fees for that is NOT CHARGED--you sorta get an ebay refund for the RESERVE fee only-a rare accurance mind ya, just ask bigfella--hehe--(Sooo, the idea is make your reserve high enof to cover what your lookin fer, BUT at the same time not a GREEDY RP)-ON the other hand--IF your RP IS NOT met--you pay--o yea u pay--  |
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Forum Dad
 United States
24155 Posts |
quote:
They just want to save the dollar or so that would otherwise be tacked onto their listing fees.
More than that. 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 Total $9.80 Open the bidding at $500, no reserve... Insertion fee $4.80 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 not finding you a buyer. Why people use reserves is beyond me. Just start the bidding where you're safe and keep some of your money. Meg doesn't need it, her yacht fully stocked all the time. |
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Pillar of the Community
United States
986 Posts |
That's a good point, but I doubt most sellers think that straight! Also, having an auction start at $500 kinda drives off a lot of people. Or they could be hoping that there are a few bidders in a bidding war, and the price will be pumped up enourmously in the closing minutes, and the reserve will be met and they'll sell the coin for $600 or something like that.
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Forum Dad
United States
24155 Posts |
quote:
Also, having an auction start at $500 kinda drives off a lot of people.
No where near as much as a reserve does. I did a survey on my website last year. There were roughly 600 surveys filled out, 92% said as soon as they see "Reserve not met" they hit the back button. 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. Notice all around the ebay site you'll see some kind of promo for every single listing feature such as "Use gallery and increase your sale price by 21%!" You will never see one about reserves.
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Replies: 10 / Views: 821 |
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Posted 07/17/2006 4:03 pm
