Opening price vs (known) reserve Poll

[AndrewJerome]

This is an interesting issue.

No bidder likes a hidden reserve. However, material usually trumps all. I will bid regardless of the format if I really want the item. To me it is silly to boycott a great item because of the bidding format.

I voted #1 and #2 about the same. It really will depend on the particular item and the level of the reserve/starting price.

I am ok with a market (or even above market) known reserve because this still allows bidding and possibly negotiation when the auction closes.

A close to market starting point generally is good for a bidder who really wants the item. An initial bid may be the only bid. However, an above market starting price (in the opinion of a bidder) is frustrating. As a bidder, who wants to look at an auction full of lots with high starting prices and no bids? The sticky point here is how to know the market value of rare items. It can be very difficult. And around and around we go. . .

Andrew