Bidding on ebay

[big jay]

I actually prefer an auction set up the way you describe if I'm a buyer.

It gives the seller some security in that he sets his own starting point and then lets the bids go from there.

The problem with reserve auctions is the reserve amount is kept hidden from the bidders until it is met. You have no idea if a seller has a ridiculous reserve on an item, and its not worth even trying for. I would rather a high min. and at least that way I know what ballpark the seller is starting in.

Personally, when I'm selling on there, I just like to start at $1 and let the market take over. If I know the value of the product, I feel okay about starting low and hoping bidders get in a pissing contest. I just sold a Penn Int 30 single speed for $275- started at $1. I doubt I would have gotten that much if I had a reserve or a $200 start price.

[parishht]

It is the same as going to a public auction and the auctionaeer
says he wants to start the bidding at a certain amount.
The only difference is that the live auctioneer can
lower the starting amount if no one is bidding.

Oh wait, I believe that ebay has that same option.
If the person is watching their auctions, they could go in
and modify the starting price if no one is bidding.

[hunan]

i think it is implied that there is no reserve after the first bid has been placed.