Secret reserve places above the minimum starting bid.

Lately I've noticed a lot of auction posts where people state that they have a reserve price (but it's a secret) and then they also give a minimum starting bid price that is usually above spot but way below their (secret) reserve.
Is there any reason they can't just make their reserve price the minimum starting bid? Is there a real reason they can't just state their reserve price?

 

I think a secret reserve is just a way of backing out of a deal if the price doesn't go as high as the seller would like it to.

Also a high reserve will tell people that they aren't going to get a bargain, I have seen auctions on eBay start at 99cents and go very high with numerous bidders, each of them thinks that if they just pay a bit more they will get a bargain.

I went to a real estate auction, the auctioneer started bidding against us, we left.

 

Secret reserves means they're probably not looking at selling it?

 

all very silly, should just put up a for sale with a price. But that would be to easy

 

Auctions should be only for weird numi stuff. I'd like to see a ban on auctioning regular bullion

 

This is what I assume as well which is why it annoys me.

 

LOL stackers as a group profess to hating intervention and regulations in their private and business lives, yet on this forum we seem to be always trying to "guide" other members on how to conduct "their" business.

I have to thank GP for only intervening where absolutely necessary, otherwise we would have 15 pages of "what to do if" guidelines to muddle through every time we posted an item for sale or concocted a PM.

Keep up the great work GP!

 

I don't want regulations. I just wrote this with the hope that the people who do this might read it and just make their reserve price the starting price. I've noticed more auctions like this lately and it just seems a bit dodgy.

 

Sorry Col, you are right, you are not saying you want regulations. My fault for skimming through the thread. I guess "market forces" will soon let the people using this method know if it works to their advantage or not.

 

:lol:

I started it I believe
Having an auction with a reserve (hidden until it's been reached "
Isn't that the whole idea of holding an auction ?
It's worked well for me in the last few items I've auctioned of
Yes I :lol: :lol: :lol: when I see auctions for bullion

 

I prefer the PM bids allowed, much easier to ramp the price up

 

People are welcome to run their auctions however they want to, if the terms of the sales put off prospective buyers then the seller probably won't lose any sleep over it.

If the sellers think that having a secret reserve is going to get them the best price then they will continue to do so.

All we are doing is offering a bit of free market research for them, what they chose to do with the information is entirely up to them.

If I suspect someone is being cagey in the details I kind of extrapolate that to way they run the rest of their business.

 

I'm not sure if you sell on ebay at all, but on the auctions there can you pull out if a price that you want isn't reached?

 

I used to sell on fleebay ,I much preferred it when you could have a reserve
The way it's run now isn't for me anymore .
I do much better selling at at Camberwell market , cash in the hand on the spot
No BS mucking around with postage or paypus

 

Where is your stall at the market spanner?

 

Opposite the blue caravan

 

:lol: I'll bet these type auctions are driving the commenters crazy. Not being able to razz the seller(s) about it and express their disdain for how ridiculous it is for fear of the wrath.

So I guess the comments find their way to "Questions and Comments". :lol:

 

The worst is when they combine that with constant bumps in multiple sales threads

 

You are correct CC.

It is as simple as that.