posted on May 20, 2001 09:56:03 AM
I have just received an e-mail from a potential bidder wanting to know what my reserve price is on an item I have. I knew this would probably happen one day - so I guess today is the day. Can I give him the reserve price? Does eBay prohibit this anywhere? Will anxiously be awaiting responses! Thanks in advance! Lee
posted on May 20, 2001 10:06:55 AM
I always reveal the reserve. In an online auction there is no reason no to reveal the reserve when therew is auto-proxy bidding. In a "real" auction however, revealing the reserve can make a difference.
Tony
posted on May 20, 2001 10:08:08 AM
On the rare occasion that I've used reserves, I've stated in the listing that if folks want to know what the reserve is, to eMail me.
I've always disclosed the reserve amount to any interested bidders.
posted on May 20, 2001 10:08:09 AM
ebay has no rules against you revealing your reserve
When I do reserve auctins I often include the reserve price in my auction descreption.
the whold point of a reserve auction is to insure the bidding reaches a certain point.
I would respond to the bidder with the reserve amount ...If it's too high he wouldn't bid it anyway....If he finds it reasonable he will probably bid that amount now thus raising the bar to others intersted in your auction.
You have nothing to lose by revealing the amount
posted on May 20, 2001 10:10:07 AM
In fact, Lee, you can even post your reserve price right in your auction...though I've never seen much point in that.
posted on May 20, 2001 10:16:09 AM
Thanks guys for all your help! Still learning stuff everyday! In fact, I've had some reserve auctions that never quite made it to the reserve price - perhaps listing the reserve price in there would have made it sell...! Didn't know I could put it in the auction...like toke said, "what was the point" - but, I guess now it kinda makes sense! Thanks again - ya'll are the BEST!!! Lee
posted on May 20, 2001 10:24:20 AM
I always reveal the reserve. In an online auction there is no reason no to reveal the reserve when therew is auto-proxy bidding. In a "real" auction however, revealing the reserve can make a difference.
Tony
posted on May 20, 2001 10:36:02 AM
toke:In fact, Lee, you can even post your reserve price right in your auction...though I've never seen much point in that.
The point is to let the potential buyer know what it will take
I recently had a Item with a resrve of $250.00 bidding stopped at $247.50.
It closed late pm the next morning I saw the results emailed the high bidder told her I would take the 247.50 ...I was too late ,after mine closed she bought another one @$255.00 had the resrve been in my ad I woule have sold the item.
As I see it the whole point of the reserve is to get buyer to look at the ad. They do a search see a 100.00 item with a bid of 19.00 dollars and look at the ad. now your picture talking /ad writing and marketing skill's have a chance to do what you can't do in the 68 charecter descreption. revealling the reserve price here can do nothing but help.
I see what you're saying...but why not just list the $250 as your opening bid, and skip the reserve?
It seems to me, if they see $250 reserve in your auction text...it's the same result. They either are willing to pay it, or they're not. But if it doesn't sell...it's another buck for a reserve fee.
What am I missing?
edited to say...I see I missed the rest of your post! I see your point now...
Have you tried it both ways? I admit, I've never tried posting my reserve in my ad. I always thought it might scare them away from bidding at all...that once they bid they would feel more committed to buying...and finding the reserve. Ah, decisions...
[ edited by toke on May 20, 2001 11:23 AM ]
posted on May 20, 2001 11:35:26 AM
Toke: Personally I agree I am either going to pay XXX or am not
I have tried it both ways And reserves work.
I dont go to live auctions much these days but when I used to be a regular the scenario would go like this
Auctioneer : Alright who will give me 100.00 for theis item start the bidding at a 100.00....now evryone knew it was a 125.00 item and would bring the 100.00 but no one would bid ...
Auctioneer,,allright then give me 50.00 who will give me 50.00..... again no takers...
After a minute or so I would yell out 25.00
Auctionerr THANK YOU ..then bam ..bam ..bam .. were at 140.00...huh!
I don't claim to understand it but it works....
It's the same on ebay low starting bid jumps off the page when they do a search they look ...You have a dynamite ad good pictures they are hooked and either they bid now or watch it to come snipe alll the while thinking about how much they want it.....If the currrent price is fair market value the may never look.
BTW if you are a regular at a live auction get in the habit of opening the biddding for the auctioner evan if you din't want the item start the auction low but get it started...He will apretiate it and throw some deals your way ..or if notheing else the night moves along ....
I almost always use reserves...I completely agree with you. the only time I don't is when it's a low price item.
I meant...have you used reserves without revealing the amount in your ad? Did you think the results were poor as compared to when you DO reveal them?
I had a $1200.00 reserve earlier this year. My opening bid was either $100 or $200...not sure. Anyway, my thinking would be that my reserve might scare them away, if they knew it. As it was, the bidding got hot and heavy right away, and hit the reserve within 24 hours of listing. What do you think?
I agree about the B&M auctions, too. I've had auctioneers drop some nice things on me...just to punish the folks sitting on their hands, and teach them a lesson...lol.
posted on May 20, 2001 02:46:03 PM
toke
I really can't give you a good answer.I don't use reseves that often and when I do ,like you I am just rying to protect my investment.
Most all my items meet reserve first time so I don't know
If you have a item that you want 1200 for and it obviosly was worth it..Then it is hard to say.
The way I see it the low start got the intersted bidders to click and take a look I really think at that point Good pictures,good description , and your feedback will determine the final bid price.
Also add in a little luck that two peaple happen upon your ad that really are taken by it
I list both ways reserve in the ad or not kinda depending on weather I think to put it into the description as I write the ad
In the case I mentioned earler though I know having the reserve listed would have made the sale and avoided the relist fee.
posted on May 20, 2001 04:50:11 PM
I've sold numerous items using the reserve option, and I've never stated the reserve amount in the description. The majority of my reserve items sell first time out, so I'm not too concerned about the person that missed it by $5.
Reserves do indeed work, and as long as you keep the reserve amount reasonable, I don't think you'll find too many buyers that object to that format of auction.
If a buyer asks the reserve amount, it's probably best to give it to them, even if they decide it's out of their price range & decide not to place a bid.
posted on May 20, 2001 04:59:39 PM
If someone emails and asks, I will tell them, but it always seemed like a silly question. If they want it, they can bid their max, and find out if it will meet the reserve or not a lot quicker than emailing me and asking what it is.
[ edited by toke on May 20, 2001 11:23 AM ]