sthoemke
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posted on August 17, 2005 02:42:39 PM
New feature: ability to change reserve price after bids are placed!
http://snipurl.com/h0vk
I have mixed feelings about this, but I think it could benefit both the seller and bidders.
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mingotree
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posted on August 17, 2005 08:24:20 PM
Not change, lower.
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ladyjewels2000
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posted on August 18, 2005 04:01:28 AM
I'm for it. I've wanted to do this in the past.
Can you lower it below the high bid????
I can see where that could be a problem.
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carolinetyler
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posted on August 18, 2005 05:18:30 AM
It doesn't say - I've wanted this feature for awhile now. Sometimes I tend to overshoot a reserve when listing, and wish I had not been so greedy when I see the auction hit a reasonable price.
"Regardless of whether a bid has been placed, you will be able to adjust your Reserve Price through the “Revise Your Item” process as long as 12 hours or more remain in your listing. The Reserve can be reduced downwards to a minimum of one bid increment above the listing’s current price. Once the Reserve Price has been lowered, bidders will receive notification about the change through email, My eBay, and on the item page."
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 Caroline
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ladyjewels2000
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posted on August 18, 2005 05:35:18 AM
So if you have a reserve of $100 and your high bid is $60 you can lower it to $62.50 or so. What if the high bidder had bid $75 - he would automatically win?
I once listed a lamp with a $500 reserve - bidding went to $411 I did 2 second chance offers and no one was interested. I relisted at $25.00 without a reserve and got $625 for the lamp so I was pleased. This new rule would have cost me $200. on my lamp!!! I guess it's best to just not have a reserve.
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mingotree
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posted on August 18, 2005 11:48:29 AM
Ladyjewels, it didn't have much to do with reserves. It had to do with the right person seeing it at the right time....that could've happened WITH your reserve, too!
If the right person HADN'T been looking you may have had to sell your $500.00 lamp for $25.00.
Second chance offers usually work if you offer it for the high bidder's highest bid, not your reserve..
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London4
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posted on August 18, 2005 11:51:34 AM
What happens if I bid $50.00, the reserve is not met so I move on and bid on another of the same type of item and win? In the interim, seller #1 lowers their reserve to $45.00 and I win that one too?
I hope there's some way ebay notifies the bidder so the bid on the first item can be withdrawn if the seller lowers the bid.
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ladyjewels2000
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posted on August 18, 2005 12:09:43 PM
I'm sure you are right - mingotree - it's all about who there when you list it.
London4 - that is a excellent point. This could be really bad if you don't keep on top of all your auctions - bidder or seller. I think I will wait and see what this does.
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carolinetyler
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posted on August 18, 2005 12:21:59 PM
That was my concern as well London4 - I do that as well - bid for similar items if the reserve isn't met - also if bidding on something higher end and I don't meet the reserve, I might blow that money on another item - or drinking and gambling or something else fun. What then?
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Caroline
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cashinyourcloset
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posted on August 19, 2005 05:34:47 AM
Regarding the "unexpected purchase" problem, it won't happen.
"If this new Reserve price is lower than the high bidder's proxy bid, the proxy bid will also be reduced to one increment below the new bid price (meaning they'd have to bid again to meet the Reserve price). This will prevent buyers from unexpectedly becoming the winning bidder on an item where their previous bid didn't meet the Reserve price."
Claude
[ edited by cashinyourcloset on Aug 19, 2005 05:35 AM ]
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