OT? Need ebay advice please

[jdjunker]

As additional information, the high bidder who asked this question appears to sell LOTS of records on ebay. I'll check later, but they are at least a dealer, likely a brick and mortar store as well, hence the reference to "we" throughout the ebay message.

 

I guess I am most concerned that the bidder is somehow trying to drive down the price of the auction so that they can get it for below market value.

 

I've sold quite a few expensive records on ebay and almost never put a reserve. However, with most records, whether they are truely rare or not can be a matter of opinion or perspective. This record is different, it is quantifiably rare. It is one of just "a couple dozen" custom covers out of a total run that was just 500 copies itself.

 

The reserve I have set is on the low end of the price range that I believe the record is worth. I arrived at that range through research online as well as feedback and information from people familiar with the record. Lesser condition copies have sold for more than my reserve in the past 6-12 months. I'd be quite surprised if it doesn't hit the reserve under normal conditions. I'm just afraid that giving this bidder inside information could ultimately affect the final outcome in some way.

[G.A.tor]

As additional information, the high bidder who asked this question appears to sell LOTS of records on ebay. I'll check later, but they are at least a dealer, likely a brick and mortar store as well, hence the reference to "we" throughout the ebay message.

 

I guess I am most concerned that the bidder is somehow trying to drive down the price of the auction so that they can get it for below market value.

 

I've sold quite a few expensive records on ebay and almost never put a reserve. However, with most records, whether they are truely rare or not can be a matter of opinion or perspective. This record is different, it is quantifiably rare. It is one of just "a couple dozen" custom covers out of a total run that was just 500 copies itself.

 

The reserve I have set is on the low end of the price range that I believe the record is worth. I arrived at that range through research online as well as feedback and information from people familiar with the record. Lesser condition copies have sold for more than my reserve in the past 6-12 months. I'd be quite surprised if it doesn't hit the reserve under normal conditions. I'm just afraid that giving this bidder inside information could ultimately affect the final outcome in some way.

again, though, having a reserve in place doesn't allow a buyer to drive down the price?... they either pay your price (or more), or they don't get it?

 

and, if you reveal the reserve, and this bidder hits it, then that will alert other bidders who now "know" what it will take to get it...no way it can drive the price down, but just the opposite...up... and, if you feel you don't want just this bidder to have the reserve, add it to your description so all will have...I think most everyone agrees that is a good thing

 

now, I am all for no reserve auctions...99.9% of what I sell on ebay is in that format...only time I ever use a reserve is if I am "scared" the market won't value it at where I need it to be...then, I put a reserve, but always let folks know what it is, because many folks won't bid on reserve auctions, just on principle, but if you tell them what it is, that might affect their decision (thumbs u

[thunderstick]

To find out what the reserve is, on any eBay auction, you simply place a bid of $10,000, or whatever value you choose. You then withdraw the bid. Simple.

[PokerKid]

I don't think eBay is currently charging any listing fees. If you would disclose the reserve, why not just list the LP with that as the starting price?

[jdjunker]

My thoughts are this, the whole reason to set a reserve while starting the auction at a lower opening is to generate bids and interest. Otherwise, why not just start the auction at the reserve price?

 

It seems to me that revealing the reserve in the auction listing defeats the purpose. Someone looking for a bargain who might have bid up to something like 75% of the reserve won't bother, just like they wouldn't bid on a higher opening bid.

 

So, that is why I don't want to add the reserve price to the listing.

 

By the same token, if just one bidder knows the reserve, it seems to be an unfair advantage to me. They can set up a snipe, or bid late, right at the reserve and hope that no one has time to beat their bid. And I end up with the minimum that I'm willing to take, rather than a higher price that I think is likely.

[Ted Knight]

...try to think like the buyer not like the seller. What would you want to know in order to pay the most money for something?

 

 

Diego, not sure I follow. Wouldn't the buyer try to gather information to pay the least money for something?

 

This is true but what I'm talking about is perception of value. All collectors have a decision to make based on many factors when we add to our collections. The sum of these factors is our value perception of a given book. The more information, the more likely the accurate assessment of value and the more likely to get the highest price from multiple buyers. Realistic, qualified buyers know what they have to do to win books they want.

 

Anything else, is just attempted trickery and not worth the effort. You might make out in the short run, but in the end, reputation matters. Unfortunately, there are sellers out there actively engaged in deceptive tactics. I guess they always have been (and always will be) there but no sense joining the wrong team.

 

A good model for how to sell comics, at least in terms of interface and data is Heritage. Truly the most satisfying buying experience for comics on the web. And all the information is right there including a posting of the reserve at some point during the auction (as previously mentioned in this thread).

 

Again, my

[143ksk]

My thoughts are this, the whole reason to set a reserve while starting the auction at a lower opening is to generate bids and interest.

 

I think that used to work, but many, many years of seeing reserves far above the FMV of books has made many people reluctant to bid in reserve auctions in the first place...

[mystrymachine]

Tell them the reserve. let them meet the reserve if they wish and let the auction continue. Just telling them the reserve is not ending the auction.

[Dick Pontoon]

Just out of curiosity, let's say your reserve is $200, and the bidder who asked the reserve is willing to pay that much, but no other bidders want to go that high, so the bidding tops out at $120. Would you re-list again with the same reserve?

[InvstmntComcSuply]

The reserve I have set is on the low end of the price range that I believe the record is worth. I arrived at that range through research online as well as feedback and information from people familiar with the record. Lesser condition copies have sold for more than my reserve in the past 6-12 months. I'd be quite surprised if it doesn't hit the reserve under normal conditions.

 

 

With this information, I would say that listing this item with a low reserve was a tactical error. If you had a high reserve it would be a different story, but the combination of a low reserve that is highly likely to be met, usually ends up being a costly method of risk reduction.

 

Because of the pervasive practice of placing pie in the sky reserves, many people who have already clicked on your auction and would otherwise be potential bidders will skip right past your auction assuming that you are another unrealistic seller. Worse yet, they will actively disregard your auction when it appears in future search results. This often depresses the hammer price. If you had listed it starting at 99 cents it would be in the watched items list of far more potential bidders and be generating far more interest and buzz. As is, it will now be "off the radar" of many of these potential bidders, never to be revisited.

 

My opinion is that a low end reserve often ends up being a self fulfilling prophecy.

[jdjunker]

I'm a little surprised at the responses out here, as I am always wary of shenanigans on ebay. The fact that this guy is a record dealer and has bought other copies of this record raises a red flag with me.

 

Anyway, last night I punted. Emailed him back that I wanted to think about it a bit more and that I could tell him that I set the reserve at what I consider to be the low end of its value range. Asked him to contact me again over the weekend after I had a chance to think about it a little more.

 

This morning I was greated with a long list of sold copies, which mysteriously excluded the two most recent copies of the custom cover, which also happen to be the two highest sold prices, and of course are the most similar to my copy.

 

So, he's starting to get me a bit angry. His emails have been very aggressive. His list of sold copies strikes as me being similar (although not quite as extreme) to a comic dealer sending someone a list of sold prices for TMNT 1 second printings when the seller is offering a first print.

 

Input here is still welcome, but I should probably stop commenting on a current ebay auction. It is a public forum after all. The reserve I set is reasonable and is designed for the collector looking for this record. If they get it at this price, they will get it for less than other copies have gone for.

 

I'll update you all on the close price too, if people are curious.

 

Thank you all for your input.

[mystrymachine]

"So, he's starting to get me a bit angry. His emails have been very aggressive. His list of sold copies strikes as me being similar (although not quite as extreme) to a comic dealer sending someone a list of sold prices for TMNT 1 second printings when the seller is offering a first print."

 

 

 

 

 

I still don't see what the big fuss is all about. And now because you didn't want to reveal the reserve price it is now escalating to assumptions and mistrust. Have fun!

[jdjunker]

"So, he's starting to get me a bit angry. His emails have been very aggressive. His list of sold copies strikes as me being similar (although not quite as extreme) to a comic dealer sending someone a list of sold prices for TMNT 1 second printings when the seller is offering a first print."

 

 

 

 

 

I still don't see what the big fuss is all about. And now because you didn't want to reveal the reserve price it is now escalating to assumptions and mistrust. Have fun!

 

Ah, yes, the adventure that is ebay! Thanks, it's always fun ain't it!

[Dr1970-migration]

I still don't see what the big fuss is all about. And now because you didn't want to reveal the reserve price it is now escalating to assumptions and mistrust. Have fun!

 

Ah, yes, the adventure that is ebay! Thanks, it's always fun ain't it!

 

It wouldn't be such an adventure if you weren't so paranoid and you listened to the sage advice given here. Holy jeezus, stop being such a pussy and post the Reserve in your auction, what's the big deal? You're losing bidders by 1) having a reserve, and 2) not revealing the reserve.

[jdjunker]

It wouldn't be such an adventure if you weren't so paranoid and you listened to the sage advice given here. Holy jeezus, stop being such a pussy and post the Reserve in your auction, what's the big deal? You're losing bidders by 1) having a reserve, and 2) not revealing the reserve.

 

 

Ah, you remind me of an old friend, Heywood Jablome!

 

The way I see it, if he wants to know the reserve, he can bid like anyone else. If my reserve is higher then he wants to pay, then we aren't going to be able to make a deal anyway.

 

Thanks again to everyone who took my request for opinions seriously. Sorry if I wasted anyone's time, I had no idea everyone on ebay was upfront and so honest that there was no possible way on earth that this dealer knowing my reserve could in any way possibly help him f-with my auction. Guess I'm just too cynical, here I thought people were coming up with new ebay scams almost daily. Silly me.

[Doohickamabob]

This morning I was greated with a long list of sold copies, which mysteriously excluded the two most recent copies of the custom cover, which also happen to be the two highest sold prices, and of course are the most similar to my copy.

That is obviously dishonest behavior. Block him.

[the420kid]

i say dont sell to the if he's making you angry.

[G.A.tor]

It wouldn't be such an adventure if you weren't so paranoid and you listened to the sage advice given here. Holy jeezus, stop being such a pussy and post the Reserve in your auction, what's the big deal? You're losing bidders by 1) having a reserve, and 2) not revealing the reserve.

 

 

Ah, you remind me of an old friend, Heywood Jablome!

 

The way I see it, if he wants to know the reserve, he can bid like anyone else. If my reserve is higher then he wants to pay, then we aren't going to be able to make a deal anyway.

 

Thanks again to everyone who took my request for opinions seriously. Sorry if I wasted anyone's time, I had no idea everyone on ebay was upfront and so honest that there was no possible way on earth that this dealer knowing my reserve could in any way possibly help him f-with my auction. Guess I'm just too cynical, here I thought people were coming up with new ebay scams almost daily. Silly me.

you didn't waste anyone's time, that is what this board is generally for...helping our fellow boardies out...I know that is my only motivation in posting in this thread, to give you my perspective (as someone that has bought and sold collectibles for almost 40 years, through all current eras of pre internet,print ad, auctions, stores, conventions, etc)...

 

that said, no doubt folks try to scam all the time...tis the nature...but in this particular instance, I know of no scenario where this dealer knowing your reserve will mess with your auction (other than possibly helping you sell the item, if that is your intention by listing?), but you have every right to run your auction as you see fit...

 

you did solicit opinions, and I believe the majority of opinions supported posting your reserve...however, you need not heed the majority advice...go with your gut, that always works for me (thumbs u

[jdjunker]

Thanks gator, I do appreciate your thoughtful posts. I will, indeed, go with my gut on this one.

 

This thread has seriously degraded however, as chat threads are known to do, so it has probably outlived its usefulness.

[Calamerica]

I have to agree with Gator on this one, why keep it a secret? It is just to protect yourself, at least that's how I use the reserve function. You can disclose the reserve and eliminate anybody that is just thrill bidding and get down to the real bidders.

 

You can disclose the reserve by posting your answer to the question from the high bidder or you can just add more info to the listing.