Auction Reserves - let�s discuss

jayshum · #1 11-16-2023, 05:18 PM

Quote:

Originally Posted by Snapolit1

In a recent auction I saw an item I sold last month to someone on BST. As soon as I saw it for sale I had sellers� remorse. And it was selling for less than I sold it for. I wanted to bid on it and get it back. Didn�t but wish I had.

Didn�t do it but don�t see any ethical problem in buying it back.

You had already sold the item so you wouldn't have been bidding on something you currently owned and were selling. That's a big difference than what others are talking about regarding bidding on your own consignment.

Snapolit1 · #2 11-16-2023, 07:49 PM

Quote:

Originally Posted by jayshum

You had already sold the item so you wouldn't have been bidding on something you currently owned and were selling. That's a big difference than what others are talking about regarding bidding on your own consignment.

Poorly explained . . .I wasn't saying it was the same situation . .. or didn't intend to. Just was a weird spot and I felt odd bidding to but back something I had just sold someone (for more).

nat · #3 11-16-2023, 08:22 PM

I'm a small fish in auction-world, but for my part I'm annoyed by reserves. Usually I'll just skip an auction if there's a reserve on it. Plenty of other, non-annoying, things to go after.

Frankly, I prefer a high opening bid. Then at least I know what I'm in for if I decide to play, rather than not knowing if I'm wasting my time.

Peter_Spaeth · #4 11-16-2023, 08:32 PM

Quote:

Originally Posted by nat

I'm a small fish in auction-world, but for my part I'm annoyed by reserves. Usually I'll just skip an auction if there's a reserve on it. Plenty of other, non-annoying, things to go after.

Frankly, I prefer a high opening bid. Then at least I know what I'm in for if I decide to play, rather than not knowing if I'm wasting my time.

High opening bids don't mix well with auctions requiring you have a bid in in order to bid in extended time.

oldjudge · #5 11-17-2023, 05:05 AM

To me this discussion is ridiculous. The only thing that matters is the all in cost on the card. The path you take to get to that number is meaningless.

GeoPoto · #6 11-17-2023, 08:49 AM

"High opening bids don't mix well with auctions requiring you have a bid in in order to bid in extended time."

I don't follow this -- isn't the only reason to be eligible for extended bidding so you can top opposing bids in overtime? Why would any bidder who wanted to bid in overtime be scared off by having to top the existing pre-overtime high bid?

Rhotchkiss · #7 11-17-2023, 09:00 AM

Quote:

Originally Posted by GeoPoto

"High opening bids don't mix well with auctions requiring you have a bid in in order to bid in extended time."

I don't follow this -- isn't the only reason to be eligible for extended bidding so you can top opposing bids in overtime? Why would any bidder who wanted to bid in overtime be scared off by having to top the existing pre-overtime high bid?

I place dozens of bids on items I don�t really intend to go after in extended bidding. Having a bid in gives me the option to go after things at the end, depending on numerous factors, including the price at the time extended bidding starts. If the starting bid is real high, one may fear that they end up winning it at that price when the intent of bidding initial was not to win but to preserve the ability to bid later in the event you want to win it

BobbyStrawberry · #8 11-17-2023, 09:10 AM

Quote:

Originally Posted by Rhotchkiss

I place dozens of bids on items I don�t really intend to go after in extended bidding. Having a bid in gives me the option to go after things at the end, depending on numerous factors, including the price at the time extended bidding starts. If the starting bid is real high, one may fear that they end up winning it at that price when the intent of bidding initial was not to win but to preserve the ability to bid later in the event you want to win it

But if you aren't interested in it even at the minimum bid price, why would you become interested in it later when the price would the same or higher?

x2drich2000 · #9 11-17-2023, 09:22 AM

Quote:

Originally Posted by GeoPoto

"High opening bids don't mix well with auctions requiring you have a bid in in order to bid in extended time."

I don't follow this -- isn't the only reason to be eligible for extended bidding so you can top opposing bids in overtime? Why would any bidder who wanted to bid in overtime be scared off by having to top the existing pre-overtime high bid?

Here is a good example I'm actually looking at right now. Currently there are 3 copies of a card I need for a set I'm working on at auction. They are probably going to sell in the $4-7k range each. I can afford to buy one, but definitely not all 3. I also only want 1. If the opening bid was $4k on each, I couldn't just put an opening bid in on all 3 at one time in case I ended up winning them all. I have to wait until I'm outbid on one to put a placeholder bid on one of the others. Now if the opening bid is $500, I can easily place my opening bid on all three (which I have) and see how things shake out at the end. As the number of cards you're looking for grows, maybe instead of 3 there are 10 similar priced cards you're looking at, you can get blocked out of putting placeholders in quite quickly.

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