RadioBanter - eBay question

RadioBanter (https://www.radiobanter.com/)

- Shortwave (https://www.radiobanter.com/shortwave/)

- - eBay question (https://www.radiobanter.com/shortwave/114626-ebay-question.html)

I think it's fair to say that most people here are fairly savvy when it
comes to eBay buying/selling, so let me throw out this question: What is
the value of keeping a reserve price secret?

When there's a radio I'm interested in that has a reserve, I always ask the
seller what that reserve is. That way I know whether or not I'd be wasting
my time watching it, and it may make a difference in how much I bid. So if,
for example, you see a $400-450 radio but the guy says his reserve is $800,
you don't waste your time. And likewise if he says his reserve is $425, you
might bid the $425 even if $375 would make you the high bidder, so that you
actually get the item instead of "Reserve not met" being the result. If
you know the reserve you can make the decision.

However, many sellers reply that they don't reveal their reserve. What's
the point? Isn't the reserve just another way of saying "This item is up
for auction to the highest bidder, but here is the least I'll take for it"?
What am I missing?

Jeff

"Unrevealed Source" wrote in message
...
However, many sellers reply that they don't reveal their reserve. What's
the point? Isn't the reserve just another way of saying "This item is up
for auction to the highest bidder, but here is the least I'll take for
it"? What am I missing?

Yeah, that's pretty much it. I don't understand the point of the "secret
reserve" either.

Frankly, 99% of stuff I buy on eBay - and I buy a *lot* of stuff on eBay - I
use Buy It Now. Only truly rare and/or collectable stuff is worth bidding
on. For everyday stuff - batteries, DVDs, RAM, hard drives, books, stereo
equipment - BIN is the only way to go.

Mike

Well according to E-Bay to be quoted below -- it gets some people in the
bidding that would normally be put off by a high starting price. And
protects the seller from having to sell at too low a price if they start
with an attractive opening bid

Sez E-Bay
--------------------------------------------------
Reserve Price

Don't want to sell your item below a certain price? Set a reserve price!
A reserve price is a tool sellers can use to stimulate bidding on their
auction-style item while reserving the right not to sell below a price they
have in mind.

Many sellers have found that too high a starting price discourages interest
in their item, while an attractively low starting price makes them
vulnerable to selling at an unsatisfactorily low price. A reserve price
helps with this.

How does it work?

A reserve price is the lowest price at which you are willing to sell your
item. If a bidder does not meet that price, you're not obligated to sell
your item. You set your reserve price, as well as a starting price, when you
list your item.

The reserve price is not disclosed to bidders, but they will be told that
your auction has a reserve price and whether or not the reserve has been
met.

All Reserve Price Auctions are subject to a Reserve Price Auction Fee that
is refunded when you successfully complete your auction on eBay. If your
item does not sell, this fee is not refunded.

Leave the reserve price field blank if you don't want to use a reserve
price.

You may lower your reserve price after you receive bids on the item.

Restrictions: Reserve Price Auctions are not available for Multiple Item
Auctions (Dutch Auctions).

---------------------------------------------------------------------

I think its a dumb idea -- but maybe I don't understand all I know about
auctions (:-).I never use it when selling. And as a buyer, I'm put off when
I see a reserve.

-------------------------------

CL

"Unrevealed Source" wrote in message
...
I think it's fair to say that most people here are fairly savvy when it
comes to eBay buying/selling, so let me throw out this question: What is
the value of keeping a reserve price secret?

When there's a radio I'm interested in that has a reserve, I always ask
the seller what that reserve is. That way I know whether or not I'd be
wasting my time watching it, and it may make a difference in how much I
bid. So if, for example, you see a $400-450 radio but the guy says his
reserve is $800, you don't waste your time. And likewise if he says his
reserve is $425, you might bid the $425 even if $375 would make you the
high bidder, so that you actually get the item instead of "Reserve not
met" being the result. If you know the reserve you can make the
decision.

However, many sellers reply that they don't reveal their reserve. What's
the point? Isn't the reserve just another way of saying "This item is up
for auction to the highest bidder, but here is the least I'll take for
it"? What am I missing?

Jeff

On Jan 31, 8:53 pm, "Mike" wrote:
Frankly, 99% of stuff I buy on eBay - and I buy a *lot* of stuff on eBay - I
use Buy It Now. Only truly rare and/or collectable stuff is worth bidding
on. For everyday stuff - batteries, DVDs, RAM, hard drives, books, stereo
equipment - BIN is the only way to go.

Mike

Bull****. There are tens of thousands of "everyday stuff" that can be,
and are, purchased for a fraction of the Buy It Now price. Is there
anything you aren't an AUTHORITY on asshole? Probably from TexAss.

Everybody's got their own opinion of these reserve priced auctions, and
are entitled to it. Me? If there is an unrevealed reserve, I do not bid.
Why waste my time, if the proxi bids do not go up to the reserve you
don't get the item even if your max bid is above the reserve. Stupid
system in my opinion. Anyone else noticed that the people that use it
are usually the folks that are too lazy to produce a bid generating listing?

wrote in message
oups.com...
On Jan 31, 8:53 pm, "Mike" wrote:
Frankly, 99% of stuff I buy on eBay - and I buy a *lot* of stuff on
eBay - I
use Buy It Now. Only truly rare and/or collectable stuff is worth
bidding
on. For everyday stuff - batteries, DVDs, RAM, hard drives, books,
stereo
equipment - BIN is the only way to go.

Mike

Bull****. There are tens of thousands of "everyday stuff" that can be,
and are, purchased for a fraction of the Buy It Now price. Is there
anything you aren't an AUTHORITY on asshole? Probably from TexAss.

I am sorry if the only thing YOU are an authority on is big dicks up your
asswideopen.

Mike

"lsmyer" wrote in message
...
When I sell a radio on eBay, I start the bidding at 1 cent with no
reserve. My auctions always do extremely well. I've sold many radios for
more than I paid for them. The reason it works is that people are greedy.
They smell a bargain and want a piece of what I have. By setting the
bidding low, more people can afford to participate in my auctions. When
you place a bid, you become an owner of that item. And once you become an
owner, then you start becoming protective of your property. That's when
bidding frenzies happen, and that's where I the seller make a lot of
money.

Caveat Lector wrote:

I suspect this will work most of the time, but on occasion (for whatever
reason), folks are not bidding (income tax time?) and an item sells for so
low, that it is virtually given away.

I suspect that is the reason some sellers have an outrageous shipping cost.
Man is that a put off for me. Caveat Emptor sez I.

Possibly, although I think it's -much- more likely that they would use a
reserve; a reserve protects the seller from getting taken to the
cleaners as in your example above AND does not scare off potential
buyers with an outrageous shipping cost.

I'm not sure why some people have such a hard-on against reserves. Let
me explain...

If you were selling something at a real, in-person swap fest, say you
were asking a 100 bucks for your item. Furthermore, you would probably
be willing to let them dicker you down to, oh, $95 or even $90.

However, in the back of your mind, -known only to you-, the *absolute
minimum* price you would take (to keep from having to haul your item
back home) is $85. This $85 price in the back of your mind is *exactly*
the same as an eBay reserve; nothing sinister about it, no plot, just a
"safety net" to protect you, the seller, from having to sell at a
give-away price.

As to why people keep the reserve a "secret" is obvious--why tip your
hand by telling the absolute, rock-bottom price you would accept? It is
an auction, after all.

On Jan 31, 9:21 pm, "Unrevealed Source"
wrote:
I think it's fair to say that most people here are fairly savvy when it
comes to eBay buying/selling, so let me throw out this question: What is
the value of keeping a reserve price secret?

When there's a radio I'm interested in that has a reserve, I always ask the
seller what that reserve is. That way I know whether or not I'd be wasting
my time watching it, and it may make a difference in how much I bid. So if,
for example, you see a $400-450 radio but the guy says his reserve is $800,
you don't waste your time. And likewise if he says his reserve is $425, you
might bid the $425 even if $375 would make you the high bidder, so that you
actually get the item instead of "Reserve not met" being the result. If
you know the reserve you can make the decision.

However, many sellers reply that they don't reveal their reserve. What's
the point? Isn't the reserve just another way of saying "This item is up
for auction to the highest bidder, but here is the least I'll take for it"?
What am I missing?

Jeff

Who cares what the reserve is - it is irrelevant to what you should
bid. You should know the value of the radio and what you maximum
price is. If you are interested in the item just bid your maximum and
get on with life. The proxy bidding system will bid yours and
everyone elses bid up. And I guaranteee you that the the person who
wants the radio the most will win because they will be the high
bidder.

"Roadie" wrote in message
oups.com...
On Jan 31, 9:21 pm, "Unrevealed Source"
wrote:
I think it's fair to say that most people here are fairly savvy when it
comes to eBay buying/selling, so let me throw out this question: What is
the value of keeping a reserve price secret?

When there's a radio I'm interested in that has a reserve, I always ask
the
seller what that reserve is. That way I know whether or not I'd be
wasting
my time watching it, and it may make a difference in how much I bid. So
if,
for example, you see a $400-450 radio but the guy says his reserve is
$800,
you don't waste your time. And likewise if he says his reserve is $425,
you
might bid the $425 even if $375 would make you the high bidder, so that
you
actually get the item instead of "Reserve not met" being the result. If
you know the reserve you can make the decision.

However, many sellers reply that they don't reveal their reserve.
What's
the point? Isn't the reserve just another way of saying "This item is up
for auction to the highest bidder, but here is the least I'll take for
it"?
What am I missing?

Jeff

Who cares what the reserve is - it is irrelevant to what you should
bid. You should know the value of the radio and what you maximum
price is. If you are interested in the item just bid your maximum and
get on with life. The proxy bidding system will bid yours and
everyone elses bid up. And I guaranteee you that the the person who
wants the radio the most will win because they will be the high
bidder.

Totally Agree with Roadie

CL