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Why do they bid???

baseballcardsonlybaseballcardsonly Posts: 129
in Trading Cards & Memorabilia Forum
For the last couple weeks I've noticed a ton of very nice product on ebay from BMW_Cards. But what I can't
understand is when the seller list the reserve price on these very rare cards and yet people still waste time and bid under the reserve price. Why?

Why would you bid $370. on the 1958 Joe Nuxhall graded SGC 98 Gem Mint 1 of 1...when on the listing the seller says "a reserve has been set at $5000."

The 1957 Bill Maz Rookie SGC 92 NM/MT has had 16 bids and the current price is $219. when the seller clearly states the reserve price of $500.

If you look at most of his auctions, its all the same. People bidding on cards that they can't win unless they bid the reserve. I just don't understand!

Are they just doing this, just to see their name in lights?

Things that make me go Hummmmmmmm

Sorry about the rant, I just had to get that off my chest!

Mark
ebay (bbcards4me)

Comments

  • WinPitcherWinPitcher Posts: 27,726 ✭✭✭
    for tracking purposes and also at times when an item does not reach the reserve a seller could contact the highest underbidder and offer it.
    Good for you.
  • DirtyHarryDirtyHarry Posts: 1,917 ✭✭✭
    I don't fault the bidders. Typically sellers don't list their reserve price - it's "hidden." They are creatures of habit. Why describe the reserve price instead of just making that the minimum bid? Save a few cents on the listing? Dunno. Regards.
    Proud of my 16x20 autographed and framed collection - all signed in person. Not big on modern - I'm stuck in the past!
  • AxtellAxtell Posts: 10,037 ✭✭
    Why wouldn't the seller just start the bidding at the reserve price?

    The only thing I can think of is he sets the reserve, and sees if the bids are high enough to be worth his time. Bids don't hit the reserve, he emails the top bidder, and tells them they won, and he doesn't have to pay ebay fees.

  • SDavidSDavid Posts: 1,584 ✭✭
    Sellers do that because bidders like to be in a crowd. A lot of people don't want to be the first one to bid unless the opening bid is ridiculously cheap.
  • SKINSFANSKINSFAN Posts: 1,032
    As Steve said to track it.
    Very rarly will i bid a card that i have a intention of really going after.When i place a outright bid its just to watch the hammer price and not have to carry it on my watch list
  • funlover1974funlover1974 Posts: 84
    If the seller lets a reserve price auction complete he still has to pay the fees it is called a reserve price fee, but he does have the option of selling to his high bidder
  • WinPitcherWinPitcher Posts: 27,726 ✭✭✭
    BMW_Cards.


    hmmm i wonder if the order from dick towle has arrived...
    Good for you.
  • Stone193Stone193 Posts: 24,407 ✭✭✭✭✭


    << <i>hmmm i wonder if the order from dick towle has arrived... >>


    image
    Mike
  • 67standup67standup Posts: 833 ✭
    I also bid far below the reserve when I think it's way overpriced. It's sort of a message that says, this is all that I (and hope others) think it's worth.
    “Think of how stupid the average person is, and realize half of them are stupider than that.” - George Carlin
  • DeutscherGeistDeutscherGeist Posts: 2,990 ✭✭✭✭
    They bid in order to track and may even bid again at the last minute
    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
  • unishipuniship Posts: 493 ✭✭
    Who is dick towle?
  • jrdolanjrdolan Posts: 2,549 ✭✭


    << <i>Who is dick towle? >>


    A professional card "restorer" that BMW has acknowledged doing business with. BMW has also insisted he would never sell one of these doctored cards without describing it as such. Draw your own conclusion, bid accordingly. Cards already PSA-graded should be safe.

    An interesting point is that setting a reserve can be much more expensive than setting an opening bid at the same level. Example: On my 1949 Satchel Paige PSA 8, the eBay listing fee with a reserve of $1800 (and the usual auction features) was about $35. However, the listing fee with an opening bid of $1800 was less than $10. Guess which I chose.

    I admit that setting a low opening bid and a high reserve allows more people to set "tracking" bids. But when you get above a certain price level, I think the high opening bid does not scare the kind of collector who will be bidding at the end. Even if they prefer to snipe, they will be tracking the auction. If you list a lot of cards, you need to know that the reserve fee gets much higher than the opening bid fee, as the value rises.
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