[Leon]

Good points, Greg. You really got going on that post!! Nice one. Without quoting the whole thing here is a part I will comment on.

"The reason the auction format is so appealing to bidders is that they feel they are in control of what they pay for an item since they are bidding and setting the price. But it is not an isolated event as bidders are bidding against other interested parties whose means and interest they cannot gauge."

For me, the appeal of an auction is that I KNOW the item will be sold. As for a known reserve at least I know what I am shooting at. For an unknown reserve auction, experience tells me that many times those prices are set at unreasonable levels, at least to me, and I won't participate. I know there are some others that feel the way I do and some that don't. It's what makes the world go around. Intersesting debate so far. Also, sometime in the future I will probably do a poll and see what SELLERS prefer, since this one was primarily aimed at buyers.

Thanks to everyone who has put in their 2 cents so far. Interesting topic. regards