posted on April 1, 2001 08:05:57 PM new
I just had a question from a buyer that I've never had before because I rarely use reserve on my auctions. They asked me what exactly was the reserve. Should I tell them or is this not fair to the other bidders? Have any of you dealt with this before?
posted on April 1, 2001 08:20:20 PM new
To each his own, but I always tell them. I have had many that ask to bid and win and I have had others that didn't place a bid.
If your ignore their email or won't tell them the reserve it is likely that they won't bid. It's a tossup. Some sellers tell, some don't.
This bidder may want to snipe at the last minute to get the item at the reserve price.
I don't consider this unfair to other bidders for their proxy may be high enough that he/she won't win the item. Their snipe may put the item past your reserve.
This is just my opinion of course. Others feel differently.
posted on April 1, 2001 10:18:16 PM new
I always tell, only serious bidders ask. Nine out of ten times the asker is the winner, and I think it gives them a sense of conection with the seller, like they're a favorite customer.
posted on April 1, 2001 11:01:12 PM new
Some sellers -especially in the antiques biz-have an inflated idea of value and set their reserves accordingly. I think buyers ask because they are sincerely interested, but don't want to waste their time if the reserve is higher than they are willing to pay, or just out there. I don't use reserves often, but if I do I'll usually tell an interested seller if they are polite in the asking.
posted on April 1, 2001 11:07:40 PM new
While we're on the subject, what possible reason could a seller have for refusing to disclose the reserve when a bidder asks?
Most sellers tell me the reserve if I ask them for it. The few that refuse say it would be "unfair" to the other bidders. But I don't understand how it could be unfair. It isn't unfair to the people who bid below the reserve, because they would never win the item anyway. It isn't unfair to the people who bid above the reserve because knowing the reserve at that point gives you no advantage.
When a seller refuses to tell, I always presume the reserve is unreasonably high and the seller plans to ask the high bidder to pay more after the auction.
posted on April 1, 2001 11:11:15 PM new
I rarely use reserves but when I do & somebody asks what the reserve is, I tell them. It's not as if it's a secret.
posted on April 1, 2001 11:23:12 PM new
As I have sold mostly moderate to expensive items on eBay, I prefer not to discuss reserves on items while the auction is running. I politely tell any bidders who ask this and also tell them that I will be happy to discuss it with them after the auction close if they are the high bidder and the reserve hasn't been met.
I feel, by not disclosing the reserve, it gives me a better position to negotiate from if a buyer is interested in a RNM item after the auction has closed.
Having said that, as a buyer I prefer an absolute auction and tend to sell most items that way as well. I tend to use reserves on items that I feel need a low starting price to generate interest.
As a buyer, I have been successful in purchasing items at or near my high bid when the reserve hasn't been met from sellers who were either motivated to sell or who had set an artificially high reserve to avoid eBays FVF (this was before the reserve price fee).
I believe your answer mshomo, should reflect your personal philosophy about why you use a reserve price and what its value is to you and your bidders. I also feel that it is in your best interest in the long run to treat all bidders equally.....it is likely true that no one would ever know but there are things out there that defy understanding, if you know what I mean..*G*
