What is the point of reserve price auctions vs. minimum acceptable starting bid?

[Multi-Volti Devices]

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Why not just set a minimum bid below which the auction will not start?
That's what I do - it tells people up front what I'm willing to sell for. I
price auction stuff at what I want for it, assuming there will be one
bidder. Sometimes I'm lucky and the price bids up - I have way too much
other stuff on my credit card to be purist and stop the auction after the
first bid.

But hidden reserves, unless I am not understanding something, seem to
encourage 'pot-shot' bidding, and it wouldn't surprise me if there are a
higher number of irresponsible bids with no intention of paying - just to
find out what the reserve is.

If the guy wants $1000 for his box full of op amps (anal-og computer), I'd
think if he just listed it that way, only people willing to pay that would
bid! What a waste of people's time, eBay server resources, etc. to have
people take pot shots which may never even meet the reserve...hey, maybe
it's 10k$, who knows? There would be maybe one bid instead of countless
guessers.

Murray



----- Original Message -----
From: Bruce Muscolino <w6toy at EROLS.COM>
To: <HEATH at LISTSERV.TEMPE.GOV>
Sent: Wednesday, October 24, 2001 1:28 PM
Subject: Re: I hate reserve price auctions


> Gee, Neil, Sounds like sour grapes to me.  All the seller is trying to
> do is get his asking price.  The existence of a reserve price should let
> you know that.  If you don't like them, skip over them!
>
> 73
>
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