If an item is listed as "no reserve" but there is a minimum bid, is that a reserve amount?

Longacre

I was having my personal valet take a look through the website of a BIG auction firm to provide me with a summary of items I might be interested in. He noticed, however, that although many of the items were listed as "No Reserve", there was a minimum bid required.

Does anyone know how this works in practice? If the item has no reserve, then what is the purpose of the minimum bid? Or is there literally "no reserve" but there is a "minimum bid"?

Barndog

that's an odd new feature at Stack's, I agree. I believe you can still make a mail bid for an amount lower than the "suggested" minimum.

rays

No reserve means if you bid the opening bid, you will win the lot assuming you are not outbid.

Opening bids vary by auction house, but generally are "reasonable", such as one-half of low estimate.

coinguy1

A minimum bid requirement is, in effect, a reserve. But I believe having a so called "no reserve" Ebay listing is less costly with respect to fees. I don't like it when sellers advertise their minimum bid listings as "no reserve"

tmot99

I think Stacks is killing themselves with the new "suggested minimum" yet calling it a no reserve auction. If you can't bid whatever you want, then there is a reserve. I suppose if you go to the auction they may allow different bidding, but I think they lose out on a lot of potential bidders from online.

AMRC

It is the proverbial "quacks like a duck syndrome" or "a Rose by any other name is still a rose" etc. etc.

AUandAG

<< <i>A minimum bid requirement is, in effect, a reserve. But I believe having a so called "no reserve" Ebay listing is less costly with respect to fees. I don't like it when sellers advertise their minimum bid listings as "no reserve"

>>



EXACTLY!

bob

rockdude

<< <i>I was having my personal valet take a look through the website of a BIG auction firm to provide me with a summary of items I might be interested in. He noticed, however, that although many of the items were listed as "No Reserve", there was a minimum bid required.

Does anyone know how this works in practice? If the item has no reserve, then what is the purpose of the minimum bid? Or is there literally "no reserve" but there is a "minimum bid"? >>



I'm not quite sure.
I'm going to have my butler Jacqueline check this one out.

dizzyfoxx

<< <i>A minimum bid requirement is, in effect, a reserve. But I believe having a so called "no reserve" Ebay listing is less costly with respect to fees. I don't like it when sellers advertise their minimum bid listings as "no reserve"

>>

sinin1

not sure of the place you are looking at but....


sometimes I see an item with high start, which I don't want to bid that much but probably 80%



and at the live auction the guy starts it lower and it sells for 50%


or you are watching the auction live - and the bid over last couple weeks has it to $200

and the floor auctioneer starts calling bids from the floor at $100 - wasting time but gathering floor interest



so the bidding needs to start somewhere - the starting bid is an effective reserve in most instances
and I would rather have that than be bidding against a hidden reserve

MMMCOINSMMM

roadrunner

"No reserve with a minimum bid" is no different than labeling part of the seller's total commissions as a "buyer's" fee.

My personal valet was busy shining up my slippers so I had to do the research myself.

roadrunner

LindeDad

My butler said that No Resreve means you can bid all you want and they will shill it up to there.

TahoeDale

If you are referring to the present Stack's Americana sale, look at the no reserve listings closer.

If there has been a bid placed, then the minimum bid is the next increment.

If there has been no bid made yet, then Stack's has a note under the minimum bid column--Recommended bid.

I believe the items listed as no reserve are truly no reserve. But that doesn't mean any amount bid will win the lot( the consignor can still buy the coin back--paying a buyer's fee, to be negotiated between the parties)

topstuf

<< <i>My butler said that No Resreve means you can bid all you want and they will shill it up to there.
>>



exactly.