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Reserve Auctions

A-37
Can you add a reserve onto an auction after bidding has begun?
I rarely bid on reserve auctions.

But I find that I have open bids on an auction with a reserve.
And I don't recall it being there.
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Comments

7 comments

Date Votes
  • A-37
    I have held an auction license for the state of Florida for over 20 years now, and These on line auctions have me confused,, ( which aint hard to do), if there is no reserve, (No, Nothing, ZERO, Nada) reserve, in the auction business means no minimum starting price, and no minimum selling price.. it must sell to the highest bidder no matter if it only brings a dollar.. Bidding can start anywhere, from 1.00 to whatever.

    If there is a minimum price for purchasing the item, then it has a RESERVE on it, with no reserve beyond that bid.. well DUH, if ya got a minimum pruchase price and it goes over that whos gonna complain??

    Any time you place a minimum, that is a reserve.. just stated different, but still a reserve no matter how ya spell it...

    RESERVE" The minimum amount that will be accepted for payment

    NO RESERVE" No minimum amount accepted for purchase..

    Thats the way it works in a real life auction house..


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  • A-37
    Has anyone else noticed the lack of bids on reserve auctions? It seems like this is becomeing a "show & tell" site for some people and their high priced guns. Personaly, I will not even look at any reserve auctions. If a seller wants to sell a gun for "X" dollars why not put the price on the opening bid and quit wasteing everyones time and probably his own. The other auction is putting a stop to this practice and maybe it is time to do same here. I realize everyone has the right to put a price on a item that he wants but, be practicle! Just curious about your thoughts on this.
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  • A-37
    Are there reasons for "Reserve" auctions that I'm not aware of? I can understand a reserve on eBay because your listing fee goes up as your starting price goes up. Therefore, you can start at $.01 and the reserve will protect your minimum price.

    You're not charged a higher fee for a higher starting price on gunbroker so why screw with bidders by using a reserve? Does the seller think he's being cute by setting a reserve?
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  • Hunter Mag
    To protect their investment. There may not be high demand for a particular item, so the seller doesn't want to sell at a loss.

    What I don't get is high reserves or high "buy it nows" when you can purchase the item cheaper in the store.

    One thing that turns me off is a low "buy it now" and high shipping charges. I ignore those even if I really want the item.
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  • Spider7115
    quote:Originally posted by A-37
    Are there reasons for "Reserve" auctions that I'm not aware of? I can understand a reserve on eBay because your listing fee goes up as your starting price goes up. Therefore, you can start at $.01 and the reserve will protect your minimum price.

    You're not charged a higher fee for a higher starting price on gunbroker so why screw with bidders by using a reserve? Does the seller think he's being cute by setting a reserve?

    I don't like guessing games and I HATE reserve auctions, especially when the starting bid is a penny and the "Buy it now" is $6,500 and the seller states "I will NOT reveal the reserve". All you get is "reserve not met" unless you go all the way up to $6,499. If sellers pulled that crap at a gun show, they'd be run out of the place. I always run a "No reserve" auction with the starting price at my minimum acceptable price and hope it goes up from there. I think some sellers either want to "test the water" or use the auction for an online gun show hoping some hapless sucker will come along. [:(!]
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  • flyingtorpedo
    I don't know. If I'm looking at something I always exclude reserve items b/c I'm not going to screw with them. I'm like Spider7115 and when I sell something I list it at the minimum price I'm willing to sell it for. I never have understood why people want to pay for the fee associated with the reserve feature when you can list it for free at the price you want. To me that just tells me you're an idiot and I don't want to buy from you!
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  • AZEX
    The reserve is "this is what I'll take" (If I have to) and the Buy Now is "this is what I'd like to get"...

    If you want the item bad enough, you click Buy Now. With my auctions, Buy Now includes shipping. So, sometimes I'll have cheapsters who wish to "sneak by" on 2 pennies over the reserve but get smacked on the shipping. I reward bidders for not being wishy-washy and committing to a particular item. My goal is to NOT have the same auction renewing over and over and over.

    D.
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