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

S

silverfever

New Member
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.
 
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.
 
It's because " people like to bid "
You get a higher price at auction than starting it at the price you want . ;)
 
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.
 
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.
 
silverfever said:
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.
Click to expand...

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?
 
shadowmage said:
silverfever said:
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.
Click to expand...

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?
Click to expand...
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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