Reserves at auction sites - Why do sellers bother with a lower starting bid?

[Scotter260]

I just don't understand this, what's the point?!?!?!?!

Only partially ranting, I'd really like to know the point.

Thanks,
Scott

 

[Scotter260]

I just don't understand this, what's the point?!?!?!?!

Only partially ranting, I'd really like to know the point.

Thanks,
Scott

 

[mtb1bkr]

It is a bit annoying. I have only thought about using a reserve once. Then I said to heck with it and had the starting price as my reserve. You do tend to attract more folks with lower starting bids and then as the auction draws closer to ending some folks who "want" the item will incrementally raise their bid to try to get to the reserve.

Bill

 

[Scotter260]

Bless your heart for the response.

I suppose with a low initial price more people will be lured to their ad, makes sense even if it's frustrating.

Thanks again for the quick reply,
Scott

 

[Scotter260]

Okay, now riddle me this, if you bid but didn't meet the reserve, is there any chance you'll be held to the bid at the end of the auction?

I'm hoping not. Please advise.

Thanks again,
Scott

 

[sceva]

I absolutely hate reserve auctions. I would much rather see a the starting price set at the minimum acceptable price. The ones that really tick me off are the $0.99 openining prices with a reserve that is huge.
No if you do not make the reserve you are off the hook. The seller can offer the item to you if they want but you do not have to take it. I seldom if ever bid on an item with a reserve and if I do, I just bid the amount I am willing to pay and if I don't hit the reserve I walk away. Also, my feelings are : If I bid and don't hit the reserve then the seller comes back after the auction to offer it to me for my bid I would normally turn it down (unless something I absolutely needed to have)

 

[handejector]

Originally posted by Scotter260:
Okay, now riddle me this, if you bid but didn't meet the reserve, is there any chance you'll be held to the bid at the end of the auction?

I'm hoping not. Please advise.

Thanks again,
Scott

Usually, NO.

A far better idea than asking here is to read the TERMS of each auction site. They ALL publish them, and explain how the system works.

 

[jughed440]

yes, reserve auctions are annoying...but far more sinister are lowlife sellers proclaiming "no reserve" on their auctions, and yet they have a starting price that is their reserve.
a true "no reserve" auction should start at $0

my peeve...i feel better now

 

[mississippi revolverman]

I agree with everyone here. I have thought if the Auction web site did this things would be different.

You select a model and sort. Then you sort by lowest bid. Here you see the low cost and open the page only to see a reserve. The Web should show the reserve price and not the stupid low price that means nothing

 

[redlevel]

I registered on a couple of the auction sites four or five years back, but after watching how things unfolded on some of the auctions I watched, I decided I would rather buy my guns in other venues.

I know that all the auctions have rules against shill bidding, but I also realize how difficult it is to actually do anything about it.

I have read too many horror stories on this and several other forums to want to have anything to do with the auctions.

 

[K.38]

I won't bid on auctions with reserve prices.

When I used to sell a lot on ebay and Gunbroker I would always start the auctions at .99 no matter what the item. With the exception of once or twice I always got more than I thought I would.

On the few occasions I sold something for someone else and they insisted on a reserve the item usually did not sell or it took several listings and price drops to get it to sell.

 

[tomf52]

Jughed - What is sinister and lowlife about posting a starting bid on an item. It's upfront and clear about what the least amount you will take for an item is. Simple enough to understand, sheesh!

 

[wundudnee]

I won't even open up an auction page with a reserve. I feel like I'm bidding against myself, if I would bid under a reserve.

 

[Andy Griffith]

Originally posted by jughed440:
yes, reserve auctions are annoying...but far more sinister are lowlife sellers proclaiming "no reserve" on their auctions, and yet they have a starting price that is their reserve.
a true "no reserve" auction should start at $0

my peeve...i feel better now

Don't most auction sites start at one cent though?

 

[deadin]

Don't most auction sites start at one cent though?

"Real" auctions can start wherever the auctioneer decides. They also can have reserves. Live auctions and on-line auctions are actually two different breeds of cat and trying to run them both the same isn't reasonable.

So far in this thread there has been only one person that has posted anything that makes sense and that is "Bid what you are willing to pay".
If it doesn't make the "reserve", so what? What has it cost you ? The 10 seconds you wouldn't have wasted had the starting bid been more than you would pay and therefore not bid.
As for no reserve and a .99 starting bid. That's all well and fine if the seller can afford to take the chance taking the hit if it goes cheap. I know I can't.
Most sellers aren't really interested in putting stuff out there so somebody can lowball them. They're in it to make money, not give you a "deal".

And by bidding what you are willing to pay also defeats the other vilified bidder known as the sniper. If they are willing to pay more than you are, let it go and don't worry about losing. All it costs you is that same 10 seconds, and the occasional chance of screwing the seller out of his item at a bargain price. (Or is this the whole idea in the first place?)

 

[NFrameFred]

I suspect sometimes (not always) a lot of the under reserve bids are either statements of what the bidder thinks it's really worth or a dig at the reserve price. And in some cases it's probably shills bidding without danger so when you look in the general listings it appears as if the auction is getting bidders by the "active bids" count most display.

I usually pass on any ads with reserves - I've found generally they're not worth the time.

The secret reserve figure may have been intended to spur interest but I think it alienates more people than it spurs curiosity.
And unless it's a really hot, hard-to-find piece it seems to me that you see more secret reserve auctions with no bids than any other type.

I should say, I have no problem with a dealer listing his reserve price up front. Like Deadin said, the purpose isn't to let someone lowball you, as much as I love a bargain like everyone else. If your reserve is the minimum price you'll accept - post and say so. That lets everyone know where you stand.

 

[Rugskipper]

I've noticed that lately, even the Fugates have stopped using reserves, at least on some items. (Times must be tough

) Like many here, I ignore reserve auctions. I think if you want to show it, post a reserve. If you want to sell it, start at $1.00, no reserve.

 

[taw43]

I hate all auctions whether they be gun, car, land, someone else always wants what I bid on $10 more.

 

[tomhenry]

Originally posted by Scotter260:
I just don't understand this, what's the point?!?!?!?!

My feeling is that the vast majority of sellers on gunbroker are dealers with brick and mortar stores. Gunbroker merely represents an added advertising venue for them, and they keep relisting the same firearms over and over and the same ridiculous prices. Meanwhile, the same guns are available for sale in their store.

So if they sell, fine. If not, then it's business as usual.

 

[deadin]

If you want to sell it, start at $1.00, no reserve.

This is true. You will sell it, just don't complain if that's all it brings.

The operative words here are "want to sell", not necessarily get a fair price.

(I don't buy lottery tickets either.

)