fishinbiz
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posted on January 14, 2003 04:54:27 PM new
I am now thinking about listing some item with a low start and having a reserve. I have no idea if people like that or not?
Is it against the rules or? to say how much the reserve is in the item description.
Again thanks for your imput.
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dadofstickboy
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posted on January 14, 2003 04:58:07 PM new
If you wish you can state the reserve.
Nothing says you can't!
I never do, but if someone mails me and asks I tell them.
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rarriffle
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posted on January 14, 2003 04:58:56 PM new
to divulge reserve price or not is an ongoing question in threads here, it comes down to your judgement.
many people are afraid to bid on reserve auctions because they think the reserve will be too high for them to meet
many people think you should start the auction at the lowest amount you would be willing to sell it for, but this could keep you from getting bids...and bids bring more bids.
If I feel the need to have a reserve I will mention in my description that "I have set a small reserve to cover my costs of the item", or something to that effect.
It is your judgement all the way.
Good Luck.
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corksmom
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posted on January 14, 2003 05:00:12 PM new
My opinion as a buyer - is I dislike them and will pass them by if there is another one available without a reserve. I prefer to see a higher starting bid - that way I know I am willing to pay that much right away without messing around trying to hit the reserve.
On the other hand - an auction with a reserve may receive alot of bids - with people trying to meet the reserve and it seems when an auction has alot of bids - it attracts even more bids - Does that make sense??
Anyway - one is as good as the other - and I don't think it will matter all that much if you have a great item to sell!!
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neonmania
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posted on January 14, 2003 07:37:34 PM new
I rarely use reserves but when I do it's for good reason. I have an action figure up right now that I knew was worth at least $100.00. It's a hard sell to get someone to place an opening bid on a figure in a niche audience but by starting the auction at $1.00 and placing the reserve I was safe (BTW_- reserve was met first day of bidding. On another item I sell I'm notgoing to make a dime if I sell less than $100. Stange thing is that although these items sell regularly in the 110-130 range, no one will place a 100.00 opeing bid. By starting at $1 I'll end up attracting lots of bidders and the item closes above reserve.
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fishinbiz
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posted on January 14, 2003 07:58:38 PM new
neonmania that is exactly my problem. I list items at or near $100. that normally sell for $150 and no one bids. I had one auction that had over 300 views and no bidders. I started at $110. The selling price every where was $165. but no bidders.
Do any of you state the reserve in the description or is that defeating the purpose?
thanks
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sanmar
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posted on January 14, 2003 08:16:03 PM new
There is something pyschological about starting auctions at too a high price. I just sold a widget that was worth at least $150.00. I started bidding at $49.95, with a reserve of $150.00. It sold for $152.50. I use reserves quite frequently on items over $50.00 & start bidding at $9.95. Works very well for me.
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getalife
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posted on January 14, 2003 09:04:27 PM new
As a seller I don't use reserves and as a buyer I don't bid on items with reserves. Too many people with reserves are just playing games. If I did use a reserve I would state the amount. Too many bids and the reserve isn't met I am reassured the seller is playing games.
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neonmania
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posted on January 14, 2003 09:13:03 PM new
Personally, I don't put the reserve amount in the auction but if I am asked I have no problem telling people what it is. My reserves are not outlandish, they are more than fair my current "widet" reserve is actually my break-even on the item with fees.
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sparkz
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posted on January 14, 2003 09:48:02 PM new
I rarely use a reserve. When I do, it's because I'm selling an item at a time of year where I'm leery of getting a good price. As an example, I listed a particular beer stein this summer and put a $100.00 reserve on it. Good thing I did because the high bid was only $85.00. I knew this would be a hot seller at Christmas so I listed it at the end on November without a reserve and it went for $135.00. Same goes for musical instruments. In August you have parents looking for instruments for kids entering band when school starts and you can get a pretty good price. List that same clarinet or trumpet in the spring, you better think about a reserve. There is no one correct answer to the wisdom of a reserve. You have to make that determination on a case by case basis.
The light at the end of the tunnel will turn out to be an oncoming train.
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