Ebay cancellations
BaronVonBaugh
Posts: 1,837 ✭✭✭✭
I don't know about any of you, but I get very tired of sellers that at the last second cancel their auction. My best guess is they are not getting what they want. So they want to just quit. It's simple, if you don't want to sell your item do not list it or start it at the minimum you are willing to take. While I am at this "I hate reserves". I rarely bid on items with reserves because it is very annoying to be the high bidder and still not get the item! Well that's my two cents on the subject, whats yours?
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I disagree about reserves. Using a reserve is doing exactly what you are saying about setting the minimum a seller will let a coin go for. They don't bother me at all, and in fact, I have won some reserve auctions very cheap because the seller used a very reasonable reserve and most prospective bidders were like you and didn't bid.
Then there will be those, like you, who are dissapointed when they wait to snipe the coin in the last minute trying to bag the coin for half of what it is worth. And there will also be people that argue the coin will sell for what its worth if you put it up without a reserve and let it run its course, which is absolute B.S. considering eBay is a crap shoot at best, depending on when you run the auction.
Can you tell which side I'm on.
BTW, I agree with you. Sellers who run no reserve auctions and cancel at the last moment are wussies.
Russ, NCNE
<< <i>...I have won some reserve auctions very cheap because the seller used a very reasonable reserve and most prospective bidders were like you and didn't bid. >>
I agree.
The 1877 cent I picked up in early July was a reserve auction. The coin is an NGC XF-40 and solid for the grade. The Coin World Trends and PCGS sheet values trends for this date were (and are) about $1200 in Fine, $1600-$1700 in VF and $2000 in full XF. I wonder how many people were turned off by the reserve. The reserve was only $1500 -- very reasonable in this case, as it's less than VF money for an XF coin -- and I hit it with a snipe, winning at just a little shy of $1600. I suspect it might have been higher if there was no reserve, and that the presence of a reserve (albeit a very reasonable one) helped me get this coin $400 under the going rate for XF 1877 cents. And these trends values were pretty accurate -- almost all the XF '77s I saw were going for right around that $2000 mark.
I used to avoid reserve auctions -- but sometimes the reserves are actually set low enough to make it worth the hassle.
Just something to ponder over and fuel the flames of this thread.
Don't send the angry villagers after me!
<< <i>Then there will be those, like you, who are dissapointed when they wait to snipe the coin in the last minute trying to bag the coin for half of what it is worth. >>
Exactly. Notice he doesn't like reserve auctions, which makes it appear as if he is looking for rips. Very rarely will you get a quality coin for a fraction of wholesale bid.
As for sniping, The proper way to look at that if you are a seller would be glad it happens. I have seen auctions go up hundreds if not thousands in the last ten seconds for some items. I admit that sometimes they change very little or not at all. Many times I have seen things go dirt cheap because they were not listed properly. That is the fault of the seller then. I have a sister in law that says she makes 50k a year on buying dolls that are not listed properly to get the right buyers attention and turns around and sells them for much more than she paid. This is simply because she knows the doll market and how to use it.
<< <i>which makes it appear as if he is looking for rips. >>
Except for gomers ponying up $39K for ugly spotted proof Lincoln cents, everybody is looking for a rip. That doesn't excuse wienie sellers who run low start, no reserve auctions and then cancel at the last second because they don't have the stones to live with their decisions.
Russ, NCNE
Thats the problem with sniping! Almost all bidding takes place in the last few seconds, many bids don't get through.
Or, the other problem, you THINK there will be last minute snipes, but don't realize your auction is about to end during the season finale of Survivor................so no bids come in last minute. eBay caused the problem by making reserve fees prohibitively high.
<< <i>
<< <i>which makes it appear as if he is looking for rips. >>
Except for gomers ponying up $39K for ugly spotted proof Lincoln cents, everybody is looking for a rip. That doesn't excuse wienie sellers who run low start, no reserve auctions and then cancel at the last second because they don't have the stones to live with their decisions.
Russ, NCNE >>
Joe
So you are saying that you have never seen a reserve that you thought was too high? I see them all the time. That's why people get tired of bothering with them. If you want to use a reserve, be bold and tell us what it isw up front.
I asked ebay to set up their system years ago so that the minumum bid could not be any lower than one fourth of the reserve (ie: reserve $1000, MB $250). If there was some logic to the reserve system like that I would not mind them.
Robert
No, what I am saying, is for me, I do not use reserves any longer because eBay now charges way too much if the coin does not meet the reserve. I sell fairly expensive coins, the reserve fees add up VERY quickly.
I also feel you attract less bidders with a reserve, even if it is a reasonable reserve.
I agree with the posting of the reserve, tell me what it is, and then I'll decide whether to bid or not. I'm not looking for a rip, but get very tired of playing the "guess the reserve" game.
Most items, I set a start price that is the least Ill take, however I have noticed that some folks wont bid unless they can run it from the bottom. Thats when i have to go with the above for my protection.
jim