posted on August 17, 2002 04:22:22 PM
Check out Ebay item #1850313212. (Sorry for no link)
Starting amount was $5. One bid so far, reserve met at $40.
How can this be?
I've had several very frustrating auctions that I've bid on when the seller has a fairly high reserve (that I'm willing to exceed), then they start the bidding at a stupidly low price, and the auction ends with no winner because the reserve wasn't met (nobody else bids the amount up to reserve).
posted on August 17, 2002 05:01:27 PM
i dont get your confusion. when an auction has a reserve price it only takes one bid sometimes to meet that reserve price. if the reserve is met thats the current auction price not the starting price.
posted on August 17, 2002 05:26:42 PM
Perhaps the poster is talking about an auction item with a reserve that the bidder wants to win but no other bidders join in the bidding so the lone bidder can not win the item.
posted on August 17, 2002 05:47:09 PM
It's possible because the first bidder's maximum bid exceeded the seller's reserve price. When that happens, the opening bid is raised to reserve price.
Opening bid = $5
First bidder bids, say $50
Reserve was $40
Because the bidder is willing to pay $50, the 'minimum' bid amount is raised from the $5 opening bid to the reserve price--that's how we know the reserve was $40.
If the first bidder had only bid $35, the reserve wouldn't have been met and the opening bid would remain at $5. He would remain high bidder until someone else pushed the bidding over his $35 bid, even if the bidding doesn't reach the $40 reserve.
posted on August 17, 2002 07:23:17 PM
It's a good deal for one boot!
I should bid!
PS....Am I such an uncool loser that I still wear my brown hiking boots! (hey I heard that!!!)
So confused!
(btw, these are catalog photos, I am guessing, not photos the seller took - they are tooo nice, labeled like catalog webmasters do and they have a color label in the photo)
Japerton
who slaves to command her digital camera!!!
(hey I heard that!!!)