Quote:
Originally Posted by RGold
I have not consigned many items but every auction house I have talked to does not like high starting bids because it looks bad to have unsold items. Also, there were not as many auction houses in 2007. Today, I see some of the newer and smaller auction houses using high starting bids, and I agree it is a bad look to see many lots unsold.
I am not sure why more auction houses will not use reserves except most buyers do not like participating in them.
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With the advent of VCP, I don't mind a high starting bid as long as it is under what the average selling price. It is when the starting bid is higher than the average selling price, and then you have to pay an exorbitant buyer's premium is what turns bidders off. With all the info that is available, it is easy to see if you are getting ripped off or not.