What Do You Think About New Reserve Auction Second Chance Offers On eBay?

moosesr

Ebay recently changed their policy to allow second chance offers to auctions that end with Reserve Not Met. Any opinions on whether this makes it better to put a reserve on an auction? If you started the auction out at $.99 do you think people would bid the same as on a no reserve auction knowing that if the reserve was not met they might still get to buy the item?

Here is the eBay announcement:

Date: 03/02/04 Time: 09:25:30 AM PST ***Second Chance Offer if Reserve Not Met*** As previously announced, we are pleased to extend Second Chance Offers to listings that end with Reserve Not Met. Previously, a reserve price item that ended without the reserve price being met was not eligible for a Second Chance Offer, except for Motors Vehicles items. Now, sellers can make a Second Chance Offer to non-winning bidders on any single-item listing that does not meet the reserve. In addition, the reserve fee will be refunded if the Second Chance Offer is accepted. Regards,eBay

Charlie

flaminio

Most anything that gives sellers and buyers more options is generally a Good Thing, and this is no exception. HOWEVER, it is my opinion that sellers will get higher prices in No Reserve auctions than by setting a reserve and hoping to sell to the highest bidder via a Second Chance sale.

ThunderChunks

It remains to be seen , But i think its a bad Idea. I can see alot of "less than reputable" coin dealers setting their reserves higher now to try to get a higher price, and then settling for highest bid.

291fifth

The placing of a high reserve on an auction is a sure sign that the seller has real doubts about the true value/demand for the item. I want to see real bidding when I am looking to buying an item. I have been selling material lately and wish that, when I was first active on eBay, I had refused to bid on any auctions with reserves. I no longer bid on any auctions with anything that resembles a high reserve or starting price.