Posted By:
leonI can empathize with the strategy Seth employed. IN this economy I think many times I would rather not sell something than take a huge loss. Anyone can talk about the right or wrong way to run an auction but until you have to deal with consignors that are looking at taking a big loss, due to the economy, then you don't fully understand the issue. I don't know that there is a perfect way to do it but I certainly understand it. And of course there were lots that had a little higher starting bid, maybe 60%-80% of retail, that didn't double, but as Matt said....that is expected with this strategy. I applaud his transperancy. I am sure Scott and I will have to do something for our consignors too. My thought is I don't mind taking a little loss but if I have the chance not to take a 50% loss on a card I would rather not sell it, many times. Again, I think there is no right or wrong answer and you will see many more auctions doing this. BTW, many auctions not doing this, are enticing friends to bid for consignors and buy their cards back anyway (not intentionally, mind you, but it's happening).....so they don't take a huge loss. I prefer the transparency methods....regards