No reserve

1BLACKHARLEY · Mar 19, 2009

i've had a few conversations lately with people who say they have a no reserve auction. to me, no reserve is a auction that's starts at $1 and goes up. heres one http://cgi.ebay.com/ebaymotors/1969...QQitemZ130294284001QQihZ003QQcategoryZ6164QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

now this is a nice car, and i wouldn't expect him to take a few hundred $ for the car, and it's worth some good $. but if your not willing to start at $1, it's not a "no reserve" auction.

i'm not trying to pick on this guy, i just think like all other car terms, this one is misused. he also has it on this site.

nice looking car, and i see what he's trying to do. i had a guy yell at me the other day,
"how can i answer your question, if you haven't even bid on my car?" then he said "you couldn't build the car for what he was selling it for", both true, but if your not willing to let the car go for less than posted price, it is not "no reserve".

i guess we should add "no reserve", to "original", "clone", etc....

by the way, i really like this car, good combo....

amartinson · Mar 20, 2009

I agree with you about that not technically being a "no reserve" auction.

That being said, I prefer the type of auction that he listed over a "regular" reserve auction. When a clear starting price is listed, and then there is no reserve beyond that, you know if you bid on the car, you will get it (assuming you are the HIGH bidder, of course).

Much better than bidding on a car with a hidden reserve that may or may not have a chance of being met. I have wasted time bidding on some parts only to find out later that the reserve was so high, I never would have been interested at the reserve price anyway.

Too risky in today's market to chance a "start at $1.00 and see where it goes" auction IMO.

Racing · Mar 20, 2009

A No Reserve auction is one that if a bid is made the item is sold. It doesn't matter what the starting price is. A reserve price is the minimum price a seller is willing to accept for the item. The seller is not obligated to sell the item if the reserve price is not met. Again it doesn't matter what the starting price is.

amartinson · Mar 20, 2009

I disagree. If you set a "starting price" you have basicly set a reserve. Again, I like it better than a "start at $1.00" auction because you know what you are getting into as a bidder, but the end result is that you are setting a minimum bid that the item will sell (or not sell) for.

From Wikipedia (for what it is worth):

No-reserve auction (NR), also known as an absolute auction, is an auction in which the item for sale will be sold regardless of price.

1BLACKHARLEY · Mar 20, 2009

Racing said:
A No Reserve auction is one that if a bid is made the item is sold. It doesn't matter what the starting price is. A reserve price is the minimum price a seller is willing to accept for the item. The seller is not obligated to sell the item if the reserve price is not met. Again it doesn't matter what the starting price is.

i disagree, i've spent years at no reserve auctions. usually what is considered a fair price is the starting price, if it isn't met, the auction drops down till bids are made, it's even done this way at the infamous b-j.

now the guy with the yellow car, i also perfer that type of auction, it gives you a fair starting price, and hopefully gets him to his target price. but if somebody starts a "no reserve auction " and aren't willing to take less, then the starting point becomes the reserve. in other words, if i offer the guy 14k and he won't take it, it is not a no reserve auction, but an auction that a predetermined "reserve" price is wanted.

the guy i had this conversation with last week wanted 25k+, not a dollar less, so the "reserve" was in effect 25k, not..."no reserve".....

Racing · Mar 20, 2009

1BLACKHARLEY said:
i disagree, i've spent years at no reserve auctions. usually what is considered a fair price is the starting price, if it isn't met, the auction drops down till bids are made, it's even done this way at the infamous b-j.

now the guy with the yellow car, i also perfer that type of auction, it gives you a fair starting price, and hopefully gets him to his target price. but if somebody starts a "no reserve auction " and aren't willing to take less, then the starting point becomes the reserve. in other words, if i offer the guy 14k and he won't take it, it is not a no reserve auction, but an auction that a predetermined "reserve" price is wanted.

the guy i had this conversation with last week wanted 25k+, not a dollar less, so the "reserve" was in effect 25k, not..."no reserve".....

There you go.

Chris R · Mar 20, 2009

I have always felt the same way as Bill did on this too. Although, seeing there is no reserve but a high minimum bid to start out with does keep you a little more informed though. Its still something I feel is a bit more of a reserve without having the actual reserve auction which seems to be what Bill is trying to say as well. I guess I never really liked that either.

No reserve

1BLACKHARLEY

amartinson

Racing

amartinson

1BLACKHARLEY

Racing

Chris R

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