No Reserve Auction

[Shonuff]

Link to 1976 JS400 on eBay

Thank goodness it's a no reserve ski, that way I can get it for $5.

But wait . . . . the bidding starts at $1400!

DON'T CALL YOUR AUCTION NO RESERVE IF YOU OPEN THE BIDDING AT $1400

$1400 IS YOUR RESERVE. :banghead:

 

[Scorn800]

what's wrong with it?
Looks like a solid vintage boat. Price sounds about right.

 

[Bourgeois]

At least he didn't lie. There isn't a reserve.

 

[LBE]

Price sounds about right.

Are you F'n kidding!!?? That ski is worth $300. I realize its a nice ski, but $1,400??


I hear you Shonuff! It's become common on ebay now.

 

[Mike W]

That never made any since to me either. Thats up there with selling an item cheap and overcharging for shipping. :dunno:

 

[kid4now]

Give the guy a break. Thats what he wants to get for the ski. At least he is not playing the reserve game. If you think its to much or dont want it dont bid on it. To someone it may be worth that much. Personally I think its going to stay in his brothers collection for a long time at that price.

 

[T-bone]

it seem some people get hung up on the wording the sellers on ebay use. you know the product , unless it says the motor went boom...i dont care if they say it was riddin by priness di. just go by your own intelligant thought process.

 

[SXIPro]

it seem some people get hung up on the wording the sellers on ebay use. you know the product , unless it says the motor went boom...i dont care if they say it was riddin by priness di. just go by your own intelligant thought process.

Princess Di could rip it up in the surf :cheer: The sport lost a legend when she passed away.

 

[Shonuff]

Give the guy a break. Thats what he wants to get for the ski. At least he is not playing the reserve game. If you think its to much or dont want it dont bid on it. To someone it may be worth that much. Personally I think its going to stay in his brothers collection for a long time at that price.

No reserve auctions start at "no reserve" = $0.01 that's what no reserve means.

If you start the auction at $1400, THAT'S THE RESERVE!

My point is this, don't say you don't have a reserve if you're not starting the auction at zero.

 

[njfl]

yep.

i actually dont understand reserve auctions that start at .01

why make bidders pu$$yfoot through 100 bids if youre not even willing to sell it till it hits x amount of dollars?

:dunno:

You'd be surprised how human nature plays into this. My experience is that once a bidder decides to bid on something, it becomes sort of a challenge that they really want to win and all common sense is pushed aside. If you start the bidding low enough, you get a lot of people playing this game. It comes to the point that they just have to beat the "other guy' and the price gets driven up.

Usually, Items that have a low starting bid will have final auction prices that are greater than the same item with a high starting bid. Do some research on completed auctions and you will see this quite often.

As for the reserve, haven't you ever had something that you said I'd sell it if I could get X dollars for it, but nothing less? The seller can put a reserve on to see what the true market value of their item is and not be forced to sell it at that.

Ebay is probably the best determination of true market value as it is the world's biggest auction and as you know, historically, auctions (like Christies's Barrett-Jackson) are where insurance companies, etc. have always obtained said values on items.

 

[Shonuff]

no reserve auctions do not mean you start the bidding at .01

I gotta disagree with you, ER.

If they start the bidding at 0.01, essentially 0.01 is the reserve which is essentially nothing.

If they start the bidding at $10, $10 is the reserve.

If they start the bidding at $100, $100 is the reserve.

If they start the bidding at $1000, $1000 is the reserve.

If they start the bidding at $1400, $1400 is the reserve.

 

[Bourgeois]

Would you be saying the same thing if he would have started at $50? It's got to start somewhere. Just like they say, "And the bidding starts at..." It's just he probably started too high. So then no one will bid and he will have to repost at a lesser price. He may think it's more valuable then it really is.

 

[Starvin48]

It's simply a gimmick to make you look at it. If you're like Shonuff (and me), you get p!$$ed when you see the price when you click on it. Then you get more p!$$ed and post it on a place like this just to rant and vent.

I'm with ya, Shonuff.

 

[Shonuff]

you're saying that their starting bid is their reserve.

remember, you dont know someone's reserve price.

if they start their auction at $1.00 with no reserve, thats just their starting bid. and you know right off the bat, they aint selling for less than $1.00

technically it's not the same.

if you saw an auction for a porsche 1988 911 turbo starting at .01 with a reserve... you have no clue what their lowest price is.

not the same thing

disagree right back at ya. :smile:

Great car for your example but it had a reserve yet to reach.

If is reserve is set for $21,000, then he won't take less than 21K. If he starts his bidding out at 21K it's essentially the same thing but without all the fun of bidding it up.

My point is that if he was going to start the bidding on his car at 21K, he shouldn't put NO RESERVE in the title like we're benefitting from his generosity and willingness to take risk. His reserve has been set.

I double disagree with you.

 

[Bonzia Bob]

I bought one exactly like that for $300 ten years ago....................I guess I should have held on to it.....................I didn't know it was going to be a classic :bs2: I agree with shonuff, if its no reserve then it should start a $.01. :biggrin:

 

[Ollie Rastabean]

Shonuff,
Saki is actually correct on this one. A Reserve auction is an auction term that has been arounds alot longer than e-bay (or the internet). A Reserve is a HIDDEN limit that the item must meet before the seller is legally obliged to sell the item.

If someone were to bid $1300 for that ski they would take it.

I actually prefer those auctions. It keeps alot of bidders away. Bad for the seller though.

-O

 

[kid4now]

Starting bid is the price the seller wants the bidding to start at.

Reserve price is the price the bidding has to go up to from the starting bid before the seller is obligated to sell the item.

They are 2 different things.

 

[Shonuff]

Starting bid is the price the seller wants the bidding to start at.

Reserve price is the price the bidding has to go up to from the starting bid before the seller is obligated to sell the item.

They are 2 different things.

If I bid 800, I won't get it because he won't sell it for less than 1400.

Ergo, since the bidding has to at least go up to 1400 in this case, whether you want to call it a starting bid or a reserve, it accomplishes the same thing.

My point continues on: Don't call it a NO RESERVE auction if you won't sell it to a bidder who's bidding lower than your obliged price.

I love you all.

 

[Bonzia Bob]

Shonuff,
Saki is actually correct on this one. A Reserve auction is an auction term that has been arounds alot longer than e-bay (or the internet). A Reserve is a HIDDEN limit that the item must meet before the seller is legally obliged to sell the item.

If someone were to bid $1300 for that ski they would take it.

I actually prefer those auctions. It keeps alot of bidders away. Bad for the seller though.

-O

Hmmm, I may be a wrong but this method is a way to list an item cheaper. They charge you more for a reserve auction, but if you just list an opening bid you get the same result. I do this all the time to save listing fees, but NEVER call it a no reserve auction.

 

[The Penguin]

where's that dead horse?