Bidding on ebay

[Raider Ronnie]

Can someone explain to me how an item can say Listed with No Reserve, it has 0 bids with 1 day left till auction ends, and has a $250 starting bid???

[BigFish]

Looking for a horse?

[fishaholic18]

Sounds like a Reserve to me...

[afterhours]

you can post any amount you wish for a starting bid- in reality he HAS a $250 reserve without saying it.

[Raider Ronnie]

I would think no reserve would mean $1 for the 1st bid

[fishaholic18]

Hey, does anything suprise you anymore?
This world is %$#@'ed up...

[afterhours]

nope- when you list an item it's up to you to choose a starting bid, them's the ebay rules.

[spence]

Just not how it works...

The only reason you'd start at a buck is if the item...

1) is really cheap to begin with

2) you're counting on the auction process to deliver the true value

-spence

[Raider Ronnie]

Originally Posted by afterhours

nope- when you list an item it's up to you to choose a starting bid, them's the ebay rules.

Wouldn't a $250 starting bid and a minimum reserve be the same thing ?

[afterhours]

not according to ebay's format- but in reality- yes.

[fishaholic18]

Originally Posted by Raider Ronnie

Wouldn't a $250 starting bid and a minimum reserve be the same thing ?

Thats what I would think..But today..There are no %$#@ rules, people do whatever the $#@! they want and get away with most of it..Horses and all..
%$#@! sickening isn't it??

[spence]

Real auctions don't always start at a dollar.

-spence

[Raider Ronnie]

Originally Posted by spence

Real auctions don't always start at a dollar.

-spence

I was just using $1 as an example.
I would think no reserve and 0 bids, someone could bid as low as they want !

[mikecc]

They do it that way because reserve auctions cost a lot more for the lister.

[spence]

Originally Posted by mikecc

They do it that way because reserve auctions cost a lot more for the lister.

Well, that's part of it.

But depending on how well you know the value of an item you take risks accordingly.

If there's something I know will fetch a hundred, I might be inclined to start it at a dollar. Because:

1) it doesn't cost as much to list

2) the bidding frenzy might just cause the auction to go higher than market price

Right now I have a few Dunhill pens for sale that cost me a lot of money. I can't afford to risk them selling for 120 bucks...it would be a huge loss...but I know they will go for close to 200 based on previous sales.

So I'll list with an opening bid of say 180 or 190 to ensure I get some profit, and a buy it now at just above what people have been paying to entice a watcher to pull the trigger.

This strategy is designed to balance risk with a modest gain.

-spence

[jimmy z]

Its Ebay.
I ignore items like that.

[The Dad Fisherman]

Was the guy new to Ebay? Usually what you would do would be to list your item low with a reserve price of what you would like to get for it OR List your item w/ a reasonable Opening Bid and then see what happens.

Sounds like a guy that really wasn't sure about what he was doing when it came to selling an item.

[big jay]

I actually prefer an auction set up the way you describe if I'm a buyer.

It gives the seller some security in that he sets his own starting point and then lets the bids go from there.

The problem with reserve auctions is the reserve amount is kept hidden from the bidders until it is met. You have no idea if a seller has a ridiculous reserve on an item, and its not worth even trying for. I would rather a high min. and at least that way I know what ballpark the seller is starting in.

Personally, when I'm selling on there, I just like to start at $1 and let the market take over. If I know the value of the product, I feel okay about starting low and hoping bidders get in a pissing contest. I just sold a Penn Int 30 single speed for $275- started at $1. I doubt I would have gotten that much if I had a reserve or a $200 start price.

[parishht]

It is the same as going to a public auction and the auctionaeer
says he wants to start the bidding at a certain amount.
The only difference is that the live auctioneer can
lower the starting amount if no one is bidding.

Oh wait, I believe that ebay has that same option.
If the person is watching their auctions, they could go in
and modify the starting price if no one is bidding.

[hunan]

i think it is implied that there is no reserve after the first bid has been placed.