[Leon]

A friend and I were having a discussion about auction items. I would like some input from others on the subject. The discussion was centered around people bidding in auctions, and when they will and won't bid. For full disclosure I will say I am no fan of unknown reserves. I don't personally like shooting at a target that is unknown. On the other hand, if an auction item has a reserve, and the reserve is made known in the listing, then I will bid. He says more people won't bid with even a known reserve than just starting the auction out at a sellable price. Personally, I am more prone to look at auctions with action (bids) on them than higher openings with no action. Your thoughts and votes?

(we all realize sellers need to protect themselves in today's market more than ever before)