Reserve PriceFebruary 20 2008 at 8:24 PM
|Earl Strohmeyer (Login strohman)|
This is an issue that comes up on eBay a lot.
A seller sets a reserve price to ensure that an item doesn't sell for less than a certain price. Is there a good reason to keep the reserve secret?
Some sellers will reveal their reserve if you ask them, but others say, "I never reveal my reserve price."
Is there any benefit to keeping the reserve secret? Does is make people want to bid, or does revealing the reserve give bidders an idea of how high to bid?
I'm sure that all of us have either sold items with a reserve price, or bid on items that had a reserve, so everyone should have some opinion on this!
|February 20 2008, 9:16 PM |
personally i dont like reserve price auctions because it sucks to wait for the reserve to be met by other bidders or it sucks to bid early to put yourself on the line not knowing what the hidden price is.so rarely do i generate interest on a reserve auction or bid on them unless it is something i really need badly.
i can understand though why some sellers would use a reserve as they are trying to protect what they have into the item,especially the big ticket items.
most times though the open auctions do get much more than a reserve auction because it is much more emotional and exciting to bid to win!
Re: Reserve Price
|February 20 2008, 10:32 PM |
I hate reserves! I rarely actually watch an auction with one and I don't think I have ever won one before. Most sellers has insane prices when they set a reserve. I know its the pot calling the kettle black but yes I do use reserves SOMETIMES...but when I do its to break even, not to double or triple my money.
I appreciate it when a seller actually tells me the reserve and when they say they won't I understand why but its poor business if you ask me.
Re: Reserve Price
|February 20 2008, 11:24 PM |
I can't say I like or hate reserve price auctions as it's not my business: whatever seller thinks is good for him.
I agree with Dan on his last comment but I guess Earl's question
was just about keeping the reserve secret. That's what I really hate and see
no reason why they say they won't reveal it. I'd prefer to know upfront
that a card price is out of my league, so I could go out, "have a beer",
or watch kerling (oh sh..., there is no such thing in Texas), and not waste
my time in front of the smaller screen.