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 Post subject: Reserve Price
PostPosted: Sun Feb 29, 2004 8:03 pm 
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Now that I've gone and blabbed, I'm curious to know... Is it a good idea or a bad idea to tell people what your reserve price is? Can it be helpful, or is it just a "whatever" sort of thing?

- Grant


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PostPosted: Sun Feb 29, 2004 8:13 pm 
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I don't think there's anything wrong with saying what it is.

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PostPosted: Mon Mar 01, 2004 12:13 am 
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Personally, I think reserve prices are silly. If you don't want to sell something for less than a certain amount, than start the bidding at that amount. I mean, sure the price looks small at first, but having a reserve deters bidders, at least from my experience.

Now, I can see reserve being good if you tell what the reserve is in the auction description. This way, people are enticed to look due to the low price at first, and then understand how much they are looking at needing to spend. It's always best to let a buyer know everything up front.

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PostPosted: Mon Mar 01, 2004 10:47 am 
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In a reserve auction, anything other than a published reserve with a low first bid amount runs the risk of losing bidders at either one end of the bidder spectrum or the other.

Setting a low first bid amount clearly has the potential to attract additional bidders early on who may get involved in a bidding war to your benefit. If a bidding war doesn't occur, publishing a realistic reserve price ensures the serious bidders that you aren't wasting their time with a ridiculously high reserve.

Sandy


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PostPosted: Mon Mar 01, 2004 11:34 am 
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Thanks for your comments - I've updated the photo's description to include the reserve price. The reserve price on the prize cube has already been met.

- Grant


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PostPosted: Fri Mar 05, 2004 3:01 am 
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Given the rarity of the items there was little doubt you would have met the reserves unless you were asking for 3 figures or more. And I suspect the bidding may go that high anyway.

Honestly though I think you maybe should have considered "consigning" the items for a more experienced ebayer to sell for you. Nothing to do with your skills as a seller, but people are more likely to put down a large sum of money if they know the bidder has been on ebay a while and has accumulated a history of buying and selling. Having a zero feedback rating doesn't engender trust when in theory the bidder could put up the items, get money, and then bail without delivering.

However I think bidding for the cube is going to get "ugly" as it nears the end. I have my own maximum price in mind but I don't know if it'll be enough. Wishing you good luck would not be in my best interest but good luck anyhow.

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PostPosted: Fri Mar 05, 2004 2:01 pm 
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Jin H Kim wrote:
However I think bidding for the cube is going to get "ugly" as it nears the end.


I'm definitely looking forward to the end of this aucton. I'm very curious about how the complete set (cube, photo, stamp) I bought from Jaap will compare.

Sandy


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PostPosted: Sun Mar 07, 2004 8:08 am 
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Congratulations, Grant!

I must admit, I expected them to go for about half of those amounts due to my $245.73 (US dollar equivalent at that time) winning bid for one of Jaap's complete sets of three winners items back in September. Just another example of me getting lucky, I guess.

Sandy


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PostPosted: Sun Mar 07, 2004 11:41 pm 
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Sandy wrote:
Congratulations, Grant!

Thanks, Sandy... I wasn't quite sure what to expect - I had seen how much his items went for, but I wasn't sure if mine would do better or worse. Since none others had gone up for auction since (that I noticed), I figured maybe the rarity of the items would be realized, increasing their value. Also, I figured they'd probably do better individually than as a set (especially since I didn't have a complete extra set with the stamp/plaque to sell). Thanks to those who bid on the items.

- Grant


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