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Reserve, No Reserve, Starting Bid

P

Pasodama

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Not sure if this is where I should place this thread but could not find a forum/section where it would be more appropriate.

Some people are having difficulty with what entails Reserve, No Reserve, and Starting Bid.

A Starting Bid is just that. The Starting Bid. It is the amount that the initial bidder must bid. Regardless of whether that amount is $10 or $1000 (examples).

When an auction states that there is a Reserve, it means that the item will not sell for the amount that the seller starts the auction with.
A Reserve is an undisclosed, and least, amount that a seller is willing to sell an item for. It is an amount that is higher than the Starting Bid that is set by the seller.
The seller will set the Starting Bid at a lesser amount than the Reserve amount. Be it that the Starting Bid is $0 or $1000 (examples). However, the item will not sell until his/her undisclosed amount has been reached by bidders. If the Reserve is not met, by the highest bidder, then the seller will state that the Reserve has not been met and the item will not be sold. If the Reserve is reached, the seller will state that the Reserve has been met and the item will be sold to the highest bidder.

When an auction states No Reserve, it means that the item will sell to the highest bidder no matter what that highest bid amount is (though the highest bid must at least match the Starting Bid set by the seller).
Some sellers may set a very low Starting Bid and others may set the Starting Bid at a high(er) amount. Whether the set Starting Bid is high, or low, it is the amount that the seller is least willing to take for the item they have at auction.
 
I get everything you are saying....well almost. My thoughts are this however: If the reserve amount is only known to the actual seller, then he/she can simply use that as a loophole if they do not like the highest bid received. So then they can simply remove the item and say "reserve not met". It allows the seller to advertise elsewhere (same time the animal is being auctioned for example), and it's not a fair system for all participants in the auction. It seems to me that the reserve amount should at the very least be known to the mods overseeing the auction area. However, that is surely not in their interest to do so, and more time consuming and therefore expensive. Which brings up the issue of if they should get a percentage then like an auction house. Or... maybe the reserve should simply be posted for all to see so there cannot be any such type of issues possibly occurring. Or the reserve type not offered, and only a no reserve but a starting bid amount accepted. At least it's a known value and therefore not a loophole.
 
I fully agree with your assessment of reserve auctions under the current system; and that is why I probably wouldn't participate in one at this time. Based on a recent comment, Rich hasn't given up on the auction idea; and is still looking into various platforms - the problem being that the expense and hassles don't seem justified by the usage. There's an increase in interest right now...but, when we had an auction platform in the past, it wasn't used much; and it hasn't been particularly popular since this trial was started almost two years ago. (I believe the plug was pretty close to being pulled the last time it was evaluated)
 
I agree in that the Reserve amount should be known by someone else (Moderator? Other? ) or that there should be a system in place where the seller must enter their reserve amount (where said system would show whether or not the Reserve has, or has not, been met).
However, currently, neither exist.
So, we must rely on the honesty of seller/s.
Personally, here, I skip any Reserve auctions and, should I be interested in an item/animal, will only bid in No Reserve auctions. 'Course, I check the starting bid. If low, I would bid. If starting bid is high (more than what I would pay for the item/animal), I just skip that auction without participation.
 
g.spencer said:
Or... maybe the reserve should simply be posted for all to see so there cannot be any such type of issues possibly occurring. Or the reserve type not offered, and only a no reserve but a starting bid amount accepted. At least it's a known value and therefore not a loophole.
Click to expand...

As I mentioned before, it is kind of silly for a seller to start a Reserve auction at a lesser amount and then state what their higher Reserve amount is. They may as well just start a No Reserve auction with the starting bid being the least amount that they would take for the item/animal (whatever their reserve amount would have been).
So, in essence, it would follow with your idea of not having a Reserve auction.
 
hhmoore said:
I fully agree with your assessment of reserve auctions under the current system; and that is why I probably wouldn't participate in one at this time. Based on a recent comment, Rich hasn't given up on the auction idea; and is still looking into various platforms - the problem being that the expense and hassles don't seem justified by the usage. There's an increase in interest right now...but, when we had an auction platform in the past, it wasn't used much; and it hasn't been particularly popular since this trial was started almost two years ago. (I believe the plug was pretty close to being pulled the last time it was evaluated)
Click to expand...

Honestly, the main reason I am keeping this on the back burner is because sooner or later I am going to get around to selling off my herp library. Since I don't have any idea what all those books are worth, and really don't want to spend forever trying to research the going prices, an auction platform seems the best way to go about selling them.

If it weren't for the fact that Ebay gouges you first with their fees, and then the PayPal fees (which they require you to use for payment), I would sell them that way. Or maybe I'll just get a table at Expo one year. Not real high on the priority list, but I sure could use the room on the book shelves for other stuff.
 
As far as the hints/comments/suggestions that the mods be involved in people's auctions - it isn't going to happen. If either of YOU wants to be the reserve person, just say the word ;)
 
hhmoore said:
As far as the hints/comments/suggestions that the mods be involved in people's auctions - it isn't going to happen. If either of YOU wants to be the reserve person, just say the word ;)
Click to expand...

Am sure you mods have enough on your plates.
Me too. ;)
 
I was just simply trying to point out some of the issues, difficulties, etc. with it as is. No hints intended for the mods to "step up"... although I do appreciate the opportunity to do it myself! At any rate, I actually like the auctions... I think they offer more excitement and diversity to sometimes the "same 'ol, same 'ol". They also offer a differed venue for "other items" such as the library previously mentioned (yes, I am intrigued lol). I will simply only participate in the type that do not have a secret reserve attached. I wonder... would the auctions receive more activity/attention if placed under the main page/classifieds area? A separate tab just for the auctions such as there is for classifieds, or the BOI? Now that's a hint lol
 
Perhaps I am misunderstanding site suggestion... Auctions are already a separate section, right below the Classifieds. The BOI is actually a part of the Business Forums section (right below the auction section, on the index page).
 
When I log in the main page I am on is the one with the all the latest classifieds. In the top left corner is the box with the following: Forums Home Page, Classifieds, BOI, Photos, etc.

When I hit the classifieds, the various sub divisions of them are available. And if you scroll all the way down it's the trading/bartering. I wonder if auctions were available on this page, in their own category, if a lot more activity would occur.
 
g.spencer said:
When I log in the main page I am on is the one with the all the latest classifieds. In the top left corner is the box with the following: Forums Home Page, Classifieds, BOI, Photos, etc.

When I hit the classifieds, the various sub divisions of them are available. And if you scroll all the way down it's the trading/bartering. I wonder if auctions were available on this page, in their own category, if a lot more activity would occur.
Click to expand...

To be honest, I think the auction/s would get lost amidst the section where trading/bartering is located.
Also, auctions are different than classifieds.
As it is now, the auction/s has its own section. Personally, I think it is fine where it is currently located.

Now, if "Auctions" were to be added to the list (along with BOI, Classifieds, Forums Home Page, etc.), on the main page that you mention, it could be a good idea.
 
That's basically where I was trying to go with it. Not included with trading/bartering but in the list just to get more traffic.
 
Gotcha - I never use that page, so I wasn't sure what you were talking about.

Adding the link in that corner MIGHT help raise awareness that there is an auction section...then, again, the link to Social Groups has been there, and that section died of disuse.
 
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