posted on November 8, 2000 05:01:06 PM new
I'm a relatively new seller and to date all my sales have been straight sales. I recently posted an auction with a reserve. Today with 5 days left in the auction, I received an email from the current high bidder asking what my reserve price was and did I want to work out a deal. Then I could close the auction early.
Is this legal? What benefits do I gain from doing? Do I start with an absurdly high offer? Any suggestions appreciated.
posted on November 8, 2000 05:18:11 PM new
Some people reveal their reserve, some don't.
As for ending the auction early, most (but not all) of the time the item ends up going for well over what the end-it-early person offers. They ask for an early end because they know there will be competition .
If it were my auction, I would reveal the reserve and suggest that they bid early with the highest amount they are willing to pay and if they are the high bidder they get the item. But ending itearly is usually not as profitable as letting it run.
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