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Old 05-12-2004, 11:30 AM
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Default Reserve Price Auctions

Posted By: t-206collector

...I choose not to bid high and then retract in order to discover the reserve price. If I am truly interested in an item, I will e-mail the seller and ask for the reserve, which is only rarely ever withheld. Otherwise, I just avoid the auction.

With respect to the point that auctions with high minimum bids do not get started, I suggest that the only reason for that is because no one is willing to purchase the item at that price. It is hard for me to think of a reason why I would not bid, say, $100 on an auction with a $100 minimum bid, if I thought the card was worth $200. Of course, if I thought the card was worth under $100, then I would not bid. But if the card is at $79 and the reserve is not yet met, why put mystery into the equation regarding whether a $100 bid would win the auction. And if the previous high bid is only $79, there is some incentive not to bid $100.

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