Another Gun Broker Rant

[timn8er]

I think I have a pretty good idea how auctions work, But if there
is something I'm missing, please illuminate me! Okay here goes:
A gun is shown on the site as having "no reserve". That would mean to me that whoever is the highest bidder at the close of
the auction is the winner, No matter how high or how low the
final bid was. You see a lot of auctions that have an opening
bid, & there doesn't show to be any bid history at all. I mean zero. So
what is the difference between "reserve" & "opening bid"?

 

[LVSteve]

You are seeing the seller set the opening price. On GB the seller can set the starting price wherever they want. Some folk like tot appear to be the "good guy" by starting their auctions at a penny, but most will start an auction at the absolute minimum they will accept for an item.

 

[timn8er]

So its pretty much the same as a reserve, right?

 

[V-35]

A 'reserve' on GB is a hidden price that is not revealed until that reserve is met.

A 'No Reserve' is where the seller sets in the starting bid, be it $.01 or whatever the seller sets. If he sets it at say, $600.00, that means that you can not bid lower than $600.00. If you bid anything higher than that, you (or a higher bid than yours) get the item. OK?

Art

 

[timn8er]

Got It. Thanks.

 

[HAWKEYE10]

One difference is sellers with a "reserve" on their auction is I don't look at it. Don

 

[gm272gs]

One difference is sellers with a "reserve" on their auction is I don't look at it. Don

Yeah. Me neither. I don't like playing the dice-rolling game.
Let's see, I'll beat that bid. Your bid isn't high enough to hit the reserve price, want to bid again? No thank you.

I had a friend who wanted to sell a rifle. He had $200 in it and would have been happy with $500, but set the reserve at $635 (against my advice). Bidders went up to $600, and quit.

He's an idiot.

 

[Arik]

One difference is sellers with a "reserve" on their auction is I don't look at it. Don

I have no problem with it. Im willing to pay X among regardless of reserve. If i dont win (get beat out by another) or if my bid didn't meet the reserve is all the same to me. I either won or didnt. But i will say this, when there is a reserve I assume the price is high(er)

Sent from my DROIDX using Tapatalk 2

 

[Comrad]

I am a frequent online auction buyer and my price is my price. Reserve, low starting bid, best offer, whatever I bid what I am willing to pay and if I get it I am happy if I don't I am happy and move on to another auction.

 

[beemerphile]

I avoid reserve auctions and I never run them. Normally I'll start with $0.01 and no reserve and trust that the size of the audience assures a fair price. Of course the seller can goof it up by not knowing the subtleties of properly listing and describing something - and a reserve may save his bacon from a self-induced giveaway auction. That is where the bargains are - even now. Misspelled and misplaced items without "featured" status. They don't know why no-one is looking at their auctions and why everyone else's stuff is selling higher.

But regarding reserves, the seller is saying "I want to play a mind game with you and get you caught up in the frenzy of bidding hoping you may catch a bargain (but I have assured that you will not). I answer by saying "I don't want to play." It is one clue in the seller credibility puzzle as well.

 

[LVSteve]

I think calling reserve auctions a mind game set up by the seller is a bit of a stretch. Reserves are something that happen at live auctions and the practice has continued online. I'm with Arik and Comrad, I know what I want to spend and if I am beat by another guy with deeper pockets or I don't make the reserve, so be it.

 

[timn8er]

I think calling reserve auctions a mind game set up by the seller is a bit of a stretch. Reserves are something that happen at live auctions and the practice has continued online. I'm with Arik and Comrad, I know what I want to spend and if I am beat by another guy with deeper pockets or I don't make the reserve, so be it.

I don't think I'm making my point clear. This NOT a reserve
auction. It clearly states at the top of the auction that there
IS NOT a reserve. So fine I'll deal with it. Thank you for your opinion.

 

[R. G. Amos]

It makes more sense to me to have the opening bid the same as the reserve. I guess sellers don't do that in order to encourage more bidders hence heighten the competetive feeling.

 

[labworm]

Have to throw some chum in the water to lure them in.

 

[Old TexMex]

If someone doesn't know what the market will bear! They put an insane reserve on it and see how high it goes. When it doesn't sell(of course) by end of auction, the seller relists. Thats what they do.

 

[beemerphile]

"Chum in the water" and "competitive feeling" are illustrative of what I meant by a mind game. It can be common practice or even preferred practice, but I still don't like being "gamed" and don't submit to it. You can do the same thing without "playing auction" by setting the opening bid at the minimum you will take with no reserve.

 

[LVSteve]

"Chum in the water" and "competitive feeling" are illustrative of what I meant by a mind game. It can be common practice or even preferred practice, but I still don't like being "gamed" and don't submit to it. You can do the same thing without "playing auction" by setting the opening bid at the minimum you will take with no reserve.

I know what you are getting at, but how is it any different on BrokeGunner compared to being at a live auction? There it is entirely in the hands of the auctioneer, and it most states they are effectively gods by law. When it comes to bidding, they rule and may even choose to totally ignore your bids if they dislike the colour of your shirt. Believe me, compared to the stuff that goes on at live auctions, GB is tame.

 

[bushmaster1313]

I have put several items up for auction on eBay and Gunbroker, but never at $0.01 for a starting bid with no reserve.

I have often wondered if many who put up at a penny have shill bidders to make sure it does not go for a way too low.