Quote:
Originally Posted by steve_a
A minimum bid isn't the same as a reserve. I always assume low minimum bids were made to allow more participants into the extended bidding framework, not an expectation you could win at such a low price. I work in finance & deal with price discovery every day which likely influences my perspective but I see no difference between listing below where you are willing to sell and bidding below what you are willing to spend.
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A minimum bid absolutely can be used as a reserve. Try bidding $100 on a card that has a $500 opening bid (and is a 1k card in real value).
If you work in finance then you have to agree that if I start at $100 but say there is a $500 reserve, it is the same as opening at $500 with no reserve. The reason to open at $100, with a $500 reserve, is to attract "action" ie...bids. But I also don't like hidden reserves and if I ever did use one I would say what it is up front (or well before auction end). I understand there are different views but those are mine. I believe in openness and transparency in bidding.