MegaSack DRAW - This year's winner is user - rgwb
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Why do people put stupidly low start prices when they have a reserve price?
I am looking at something, that has no buy it now and was started at about 15% of it's possible value. I doubt many people will be bidding on it. I put a low bid in to start things and someone went against me but didn't out bid me. So now we are a little further down the line and it's still way low and not at reserve.
Bloody annoying.
Gets more people interested initially with the hope there will be a bidding war later on down the line.
I made a bid for a camera
Starting price was about £60
Buy it now price was £120
Reserve price was £115
Lol!
I think he had to re-list it a fair few times...
Real bidders don't start bidding until there is 10 seconds or less to go. Everything before is just other people wasting their time. You know when the auction ends - if it's going to make reserve it'll do it with seconds to spare. Go back then.
You know when the auction ends - if it's going to make reserve it'll do it with seconds to spare.
Normally I would agree.
However, this is about £8000 worth of boat, it will need an inspection before bidding. So the normal rules don't really apply.
However, this is about £8000 worth of boat, it will need an inspection before bidding. So the normal rules don't really apply.
Sounds like fun. What sort of boat?
Surely the done thing is go make the inspection (and while you are at it see if they might be prepared to take an offer if it does not make the reserve) then still not bid until 10 seconds to go.
Wot convert said. Don't think I've ever actually used eBay to buy anything >£1000, just gone to view and done a deal.
I can only imagine he has a price in mind (the reserve), but if he gets a few bidders who really want it, then he leaves the window open to getting more than expected doing it this way. If he did BIN then that would be the only price he gets, less a bit of haggling, when someone might have been prepared to pay more.
Also, I think in the old days you paid a fee on the start price, so many started their sale at 99p to avoid fees. Don't think that's the case now, but he might think it still is the case.
Actually, these days I don't think you pay anything if it doesn't sell (not sure if that applies if you have a reserve), so maybe he set the start price really low to get an idea of what price it actually reaches on ebay in a straight auction.
Wot convert said. Don't think I've ever actually used eBay to buy anything >£1000, just gone to view and done a deal.
This as well, probably >£400 in my case, and I'm sure he'll expect the same. You could then ask him about his decision making process re the auction?
You can't really over-think it, there's a reason why these mechanisms are there.
A reserve is someone who doesn't want or can't let something go for a low price should it not go to plan. They're bloody expensive on eBay now.
Low start price drags in the dreamers and schemers and gets you to the top of the list for people who search "cheapest first" both sound methods to find the right buyer for you. Perhaps not the best method to keep them happy.
you may be right but I can't see how the "new" rules involve your bidding behaviour up to now. Surely this will end in a cancelled auction and private sale ?However, this is about £8000 worth of boat, [b]it will need an inspection before bidding[/b]. So the normal rules don't really apply.
Ebay auctions are a bit of a joke if you ask me.
Why have a reserve if there's no minimum bid makes no sense.
As said people will bid snipe in the last minute of an auction, so to me there is no point bidding low a day before the auction ends if it's below the reserve and the snipers will out bid you any way.
Well to be fair, my rant was a bit crap. Turns out the reserve was fairly low and it has now passed it, with 8 days to go.
Unfortunately because of work I will not be able to view before bidding, so may have to bid and then have to walk away if it's not like the description.