Why start an auction at 99 cents but put a reserve?

Discussion in 'Modern Chinese Coins & Medallions' started by silverfever, Sep 7, 2012.

  1. silverfever

    silverfever New Member

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    This is a pet peeve. Why do sellers do this? It is basically a waste of time auction. IMHO better for the seller to start the auction at the reserve price rather than make the reserve a secret.
     
  2. Ryaneod

    Ryaneod New Member

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    But don't you have to pay more to ebay with a higher starting price?
     
  3. silverfever

    silverfever New Member

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    You are right. I guess so. Is it 50 cents difference?
    But in this kind of auctions even if you are prepared to pay the hidden reserve price you may not get the opportunity to purchase the item if the other bidders don't bid up the price to the reserve.
     
  4. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    It's because " people like to bid "
    You get a higher price at auction than starting it at the price you want . ;)
     
  5. Vredaren

    Vredaren New Member

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    Also, lower price generally means more people will look at the auction
     
  6. silverfever

    silverfever New Member

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    These particular auctions have been frustrating to me because there have been times when I have been willing to pay a higher price $$ but not able to because you can only bid as high as the next highest bid. Therefeore theoretically speaking, I may have been willing to pay the reserve price but have not been able to do so because the next highest bidder was not willing to bid the auction up to a particular price level.
     
  7. Vredaren

    Vredaren New Member

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    In that case I completely understand your frustration.. they should really fix it so that if someone bits up to the reserve they get it for the reserve price.
     
  8. shadowmage

    shadowmage New Member

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    Does the seller get told of what your maximum bid is? If so, are they able to give you a "2nd chance offer" if your bid meets their reserve price?
     
  9. silverfever

    silverfever New Member

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    Good question. I don't think so.
     
  10. jc888888888

    jc888888888 New Member Silver Stacker

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    yes the seller does , he can contact the last bidder and sell the coin for under reserve if he desires, you are better setting the auction start at your low reserve price IMHO,then the buyer knows once he bids he has a chance to win at his first bid.
     

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