Revealing the Reserve Price

[theVisitor]

I currently have an auction on eBay with a Reserve Price. I've been asked by a potential bidder (or possibly someone who has already bid) what the Reserve Price is. Any reasons not to reveal the Reserve Price ? Any benefit to telling him what it is ?

 

Thanks

[OldGuy]

I'd tell him. I don't set reserves to create an aura of "mystery", I set them so the book wont sell for less then I want. Some people even list the reserve price in the auction listing.

[deathlok]

As a bidder I would rather know the reserve price than to not know. If the reserve price is reasonable I may decide to go after the book. If I feel the reserve is too much I won't bid.

 

I can remember bidding on a Sub-mariner book, which I knew would have a high reserve. I kept bidding in 50 dollar increments. When I had the bid up to $450, I just decided to give up on the auction. Needless to say nobody met the reserve of the book, and I felt like it was a waste of time to try to win the book.

[OldGuy]

That's a good example. If you knew the reserve was $475 there's a good chance you would have been willing to pay another $25. Maybe even set a snipe for $475.

[Mushroom]

Disclose it.....but don't fall for the "If you close the auction now I will buy at the reserve price" trick.............

[deathlok]

That's a good example. If you knew the reserve was $475 there's a good chance you would have been willing to pay another $25. Maybe even set a snipe for $475.

 

Exactly!

[LucyBop]

I'll tell you, I have always told whomever asks the reserve price on my auctions...

 

But I've yet to have anybody that has asked the reserve ever bid...

 

these are on coin auctions.....

[nearmint]

Roter once asked the reserve on one of my auctions, and won the auction at that very amount.

[Silver Surfer]

For more expensive items I say give it to them. I think it gets the attention of the people who are serious buyers and it can start a mini bidding war down the stretch.

[Aces]

Tell them.

It's not top secret info is it?

[Calamerica]

I'll tell you, I have always told whomever asks the reserve price on my auctions...

 

But I've yet to have anybody that has asked the reserve ever bid...

 

these are on coin auctions.....

 

 

I have had Reserves put on some high-end items in the past - I went through five stages in that development of eBay auctions:

 

1) I was at first reluctant to disclose reserves and did not think it was appropriate or business-wise to do so;

 

2) after many inquiries and relentless pestering and the possible "image" look about my auctions, I started disclosing the Reserve prices. Guess what? Not ONE FREAKING BID this way. Never. Then I got the usual eMails: "Cal, you are asking too much, lower it $200.00 and I will PayPal you right away, etc."

 

3) Started taking "consignments". Some of these same consignors who blasted me for first not disclosing Reserves now wanted me to sell their high-end World Series tickets, Pete Rose figurines, CGC NM 9.8+ comics, and told me NOT TO DISCLOSE RESERVE PRICES!!! All of a sudden it is no one's business, but I did not argue the point: I wanted to collect my 25% fee.

 

4) Did as consignors asked - did manage to sell about 50% and they got their wishes - had they listened to me, I am reasonably sure I would have sold just about all of the items. Due to constant whiners and complainers re: consigned items and my own items( "Cal: can you de-list Boba Fett NM 80 I can't pay $1,000.00 - sell it to me for $600 and tell consignor it got lost in the mail - you can use my address for Insurance as you intended to sell it from my place" - I saved that eMail), I no longer take consignments, period. My friends that have this stuff for sale I eMailed them and made flyers for them at my places of business that I only make one-time cash offers for comics, sports, Star Wars, and unusual high-grade items. Now all I get is " Cal, we will let you know". Translation:" I will try to sell the stuff myself with a zero rating, hey, you started at zero, but if I can't get the pictures right, screw up the listings, don't have time, they did not pay me as I am a zero bidder, they emailed me constantly to disclose Reserve prices and they got upset, they negged me because I omitted a few things, they screamed at my grading of the comics, then I will beg you to spend your cash on my junk".

 

5) I will use Reserve prices in the future but will NOT, AND NEVER disclose the reserve prices again. Reserves are there for a Seller to reach his/her intended goal of selling an item at a minimum price. There is no freaking rule anywhere that the window-shoppers need to be hand held. I bid auctions all the time on the buy side - if I hit the reserve, fine. If I don't, fine. I never asked anyone what the Reserve price is: and I won't. I just don't have the time nor is it my business.

 

This topic of reserves jumps right into those long lost Threads on eBay about the those who don't like "snipers". But nevertheless, this Thread is a good one if people want to learn how eBay really works. There are some outstanding eBayers on this Forum that know what sweat is via the eBay leviathan.

 

Hope this helps some,

 

CAL

[Aces]

3) Started taking "consignments". Some of these same consignors who blasted me for first not disclosing Reserves now wanted me to sell their high-end World Series tickets, Pete Rose figurines, CGC NM 9.8+ comics, and told me NOT TO DISCLOSE RESERVE PRICES!!! All of a sudden it is no one's business, but I did not argue the point: I wanted to collect my 25% fee.

 

 

Oh ye hypocrites!

 

Rules are different for big ticket items.

I was thinking $50-$200 items that you want to move and don't want to scare away bidders by not telling them the reserve.

[thecomicsheet]

I thought about it when I first started selling. I just decided to follow a rule of never end early and don't disclose reserves. That way it is easy for me to treat everyone the same.

 

I think in general that I get slightly higher prices with reserve auctions versus setting the starting bid at the same price. But I don't think the difference is large. I haven't done a study on this, nor do I have enough personal examples to do a valid study. But it seems that I am slightly more likely to get multiple bidders (and higher prices) with a low starting bid and reserve versus starting the bid at a higher price.

[Calamerica]

Hello Aces

 

Notice my posts detail "high-end" items - just in case you missed that part;

 

Yes, the same folks who pestered me for disclosing Reserve prices then asked me to consign for them - Most via word-of-mouth as my business contacts all know about my comic book collecting( never know when one of them might stumble on a huge high-grade stash), and know my work habits. I did luckily get a few on eBay through their auctions, but all were local in my area. Yes, these same folks instructed me NOT to ever disclose Reserve prices. It was not my place to remind them of the hypocrisy that laid within their business dealings. It WAS my place, to stop taking consignments. I had agreed to do this( taking consignments) from time to time, and felt it would be more harmful not do follow-through at least the first time( with each consignor). Of course, you guessed it, after they dropped the stuff at work the day(s) I am off, take goods home, get the stuff listed, they "remind" me that they " thought things through" and decided to insrtuct me NOT to disclose reserves.

 

Needless to say, yes, when it pertains to THEIR items, all of a sudden they see things very differently. Reminds me of Restored comics - if they stumble on them, they all want to sell them , but most don't want to buy them; when your neighbor loses his job, it is a recession. When you lose YOUR job, it's a depression. All matters of perspectives, and believe me, some, a good number of people see things just in their way. They are not bad people, but I always found it fascinating how people can turn on a dime and go full steam ahead the opposite way, even contradicting themselves so obviously a child catches this right away. I guess that it why most people dislike hypocrites, because they say one thing and turn right around and do something opposite of what they portrayed.

Sometimes people just don't realize theat they have turned on the dime, and instantly rely on other people "forgetting" what their stance(s) were before the circumstances turned on the other shoe. Unlike others, I don't forget much, if anything at all when dealing with people in business. I may keep quiet and silent for long periods, but I have my reasons( why start an argument you are not going to win - most people won't concede a breath of wasted air let alone your point(s), right or wrong or right in part). Yes, some people are extremely stubborn, especially when it comes to their precious items. That is experience speaking here. Thus, to avoid further aggravation, I no longer take consignments nor disclose Reserves. If you want to bid the item with reserve, bid. Seeing an item w/ Reserve has got to tell the bidders that the Seller wants a certain price. We don't give things away for free unless we could care less about said item having little or no value to us. Yes, I do that on occasion just to get rid of stuff sitting around.

 

CAL

[sterlingcomics]

I currently have an auction on eBay with a Reserve Price. I've been asked by a potential bidder (or possibly someone who has already bid) what the Reserve Price is. Any reasons not to reveal the Reserve Price ? Any benefit to telling him what it is ?

 

Thanks

 

I've rarely used reserves as I usually just set the first bid as my appropriate price. Obviously, there are advantages and disadvantages to both approaches--my immediate concern would be the stop bidding on reserve auctions because the reserve isn't met. If you are reasonable with the reserve price (like 75-80% FMV) it will usually go over the top due to bidders who are now placing more bids. Setting it to high creates this clamor to reserve the price.

 

Cal, nice info and perspective there on reasons not to give the reserve.

[Wally's Comics]

I like knowing and all of my auctions reveal everthing

with no reserve and a buy it now option.

 

I'm a sniping fool, and I like the charge of antisipation when the item is getting ready

to close and there is a sniping bid war!! Awesome!!

[tth2]

Roter once asked the reserve on one of my auctions, and won the auction at that very amount.

 

Considering that I once asked him the reserve on one of his auctions, and he categorically refused to disclose it, I find it hilarious and wonderfully hypocritical of him to be asking for other peoples' reserves.

[Wally's Comics]

Roter once asked the reserve on one of my auctions, and won the auction at that very amount.

 

Considering that I once asked him the reserve on one of his auctions, and he categorically refused to disclose it, I find it hilarious and wonderfully hypocritical of him to be asking for other peoples' reserves.

 

 

[tth2]

Roter once asked the reserve on one of my auctions, and won the auction at that very amount.

 

Considering that I once asked him the reserve on one of his auctions, and he categorically refused to disclose it, I find it hilarious and wonderfully hypocritical of him to be asking for other peoples' reserves.

 

 

 

Nothing to see here, folks. To my knowledge, Robert doesn't participate on the boards, so I don't think this is going to turn into a slugging match.

[supapimp]