Reserve Auctions

Comments

• FatMan Posts: 8,977 ✭

  November 25, 2005 4:13AM

  It remains one of lifes great mysteries. Just as mysterious is why the major auction companies accept bids online prior to posting the reserves.

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• Michigan Posts: 4,942 ✭

  November 25, 2005 4:15AM

  
  
  << <i>Why do sellers start any auction with a Reserve of over a $100 at 99cents or for that matter any price under the reserve? >>
  
  
  
  
  Low starting bids usually attract more attention than an auction that
  starts out closer to current retail levels that many reserve auctions
  do.
  
  There are of course some auctions that are really just a fixed
  price list pretending to be an auction depending on the opening bid.
  
  
  Auctions that get the most attention would be something like
  a no questions genuine 1909-S VDB Lincoln cent say in a nice collector grade like VF starting at 99 cents with no reserve.
  
  There would be plenty of bidding going on if you find an auction
  like that.
  

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• ziggy29 Posts: 18,668 ✭✭✭

  November 25, 2005 4:17AM

  I rarely see a reason for reserves. If you're a reputable seller with a solid feedback history, a good picture of your coins and a return privilege, if your reserve isn't met, you probably exaggerate the value of the coin.
  
  Then again, maybe you're not serious about selling the coin, but would do so for "stupid money," and I suppose trying a reserve auction might be worth a try or two even if it probably results in a waste of fees.
  

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• fc Posts: 12,793 ✭✭✭

  November 25, 2005 4:22AM

  i noticed over at davidlawrence.com they allow bidding before posting the reserve.
  
  if one is not careful they will go over it without even knowing what it was. This may result in paying more.
  
  In my case, if i like the coin and bid before the reserve is shown, i keep it really low ball. Maybe it will tempt them to put the reserve at that?? They mention the retail price trying to tempt high early bids..
  
  either way, if you like the coin...

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