Bidding theories...

CDsNuts

An earlier thread brings about a thought provoking question: Why does a reserve generally stop people from bidding?

My theory is that there's no worse feeling than the realization that one has wasted their time. If you take the time to carefully look at the scan, research prices, ask questions, etc.... and your bid doesn't meet the reserve, than you feel like your time has been wasted. But this doesn't really make sense because you can do the same amount of work and you might be outbid, so either way you don't get the item. Any thoughts?

Lee

asphaltman76

to me, i dont mind a reserve, but seems some people think something isnt worth having unless they get it dirt cheap, and way below whats its worth, hence the reserve.......

packCollector

I think buyers are happyier if they know someone else was willing to pay almost as much as them. with a reserve auction , they feel that they may have overpaid if they hit the reserve and there isn't an underbidder

digicat

For me, a reserve price doesn't keep me from bidding.


However, for some, perhaps they think of it like this: bidding on a reserve auction is like bidding AGAINST the seller. The seller knows what that price is, and in most cases, you don't. You need to, in a way, outbid the seller. They get the "me vs the seller" mentality, and just move on.