Do you just ignore eBay auctions that have a reserve?

RegistryCoin · January 24, 2007 12:05PM

I have noticed that many, if not most coins on eBay that have reserves get very few bids and rarely sell. I was thinking that the reserve must be too high, but in a lot of these cases the few bidders that do bid don't even get the bid up to anywhere near grey-sheet bid. In some reserve auctions, there is a BIN way above what is reasonable, which may serve as a tip-off that the reserve will probably be too high, but a lot of times there isn't a BIN, and still there are fewer bidders than average, and a closing price not anywhere close to bid.
Do you just ignore auctions with reserves?
What are your assumptions when you see a reserve auction? Do you think that dealers that use a reserve don't want to sell, or are they just fishing for a "bidiot"?

lathmach · January 24, 2007 12:08PM

I have never bid on a reserve auction.
I don't rule out doing it at some time, but in the past I just scooted on by.

Ray

Russ · January 24, 2007 12:08PM

Ignore them? Nope. But, if it's something I'm interested in I eMail the seller and ask for the reserve amount.

Russ, NCNE

TwoSides2aCoin · January 24, 2007 12:10PM

Yes, I just ignore most reserve auctions on ebay....unless it's a coin I'm looking for and within my desired price range.

Joe

OKbustchaser · January 24, 2007 12:11PM

I am much more likely to ignore the "start at one cent" waste of everyone's time auctions.

Bochiman · January 24, 2007 12:12PM

For the most part, yes.
If I am really interested, I will look at the whole auction and then decide whether to contact the seller or not, to find what the reserve is.
I seldom bid though, since I don't like reserve auctions.

SportsModerator · January 24, 2007 12:12PM

The fastest way NOT to sell an item on ebay is to place a reserve on it. I'll pass on any lot that has a reserve.

commoncents05 · January 24, 2007 12:13PM

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

I agree.

-Paul

Russ · January 24, 2007 12:15PM

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

That makes no sense.

Russ, NCNE

ColonialCoinUnion · January 24, 2007 12:16PM

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

I agree.

RichieURich · January 24, 2007 12:17PM

Why are there reserve auctions? Why don't they just set the minimum bid at the reserve amount?

PrivateCoinCollector · January 24, 2007 12:19PM

Bid on it anyway. I have bought collections where the reserve was not met but I was the highest bidder and in the end it offered it to me. The reserve is sometimes used because they want to see what the market will bear. But it is a fools game, as I have seen countless times something not sell because of a reserve only to be relisted without a reserve and then selling for much higher. It happened just this week.

291fifth · January 24, 2007 12:21PM

Yes. I don't bother with any auctions that have a reserve.

kmcoin · January 24, 2007 12:22PM

I usually ignore them. I guess with "no reserve" auctions there is a feeling that...maybe
just maybe I'll get a REALLY good deal out of this.

When a reserve is set my perception is that the chance for a "steal" or "great deal" kinda go out the
window.

Casey · January 24, 2007 12:26PM

<< 

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

I agree. >>

You guys are kidding right? What I'm I missing here?

iras4 · January 24, 2007 12:26PM

<< I have noticed that many, if not most coins on eBay that have reserves get very few bids and rarely sell. I was thinking that the reserve must be too high, but in a lot of these cases the few bidders that do bid don't even get the bid up to anywhere near grey-sheet bid. In some reserve auctions, there is a BIN way above what is reasonable, which may serve as a tip-off that the reserve will probably be too high, but a lot of times there isn't a BIN, and still there are fewer bidders than average, and a closing price not anywhere close to bid.
Do you just ignore auctions with reserves?
What are your assumptions when you see a reserve auction? Do you think that dealers that use a reserve don't want to sell, or are they just fishing for a "bidiot"? >>

I'm a full-time coin dealer and sell a lot of coins on eBay, and although I rarely have a reserve, it works for me about 30% of the time. Still, with a reserve, the bids are still generally well under my cost and well under Graysheet wholesale, and I don't handle low end coins, as many of you may know.

Heck, most large national catalog auctions have reserves on all or most of the significant items, yet most will sell if the reserve is fair, and most times, the reserve is well over Graysheet bid. Think anyone can buy a nice smooth Chain Cent at bid or below?

My eBay rep tells me to start low and with no reserve, but whenever I've done that, the final price has been about 60% of my cost and I've lost a bundle. That simply makes no sense. Sure, eBay gets its final value fee and they could care less if i lose thousands of dollars on a sale. I certainly am not fishing for a "bidiot" by using a reserve, but I only wish to make a fair markup on a quality item. You think that's wrong?

Ira

stockwiz · January 24, 2007 12:27PM

I don't bid on any auctions that have a reserve.. when I do bid I only SNIPE, and when I sell I only start all my auctions at a penny (no reserve of course) and let the bidders do the rest.. so

on you.

Seriously.. how does starting it at a cent waste time? The auction still goes on for the same amount of time.. save listing fees and draw interest by starting low. Why start it at a hundred dollars or a thousand.. what's the point?

OKbustchaser · January 24, 2007 12:28PM

<< 

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

That makes no sense.

Russ, NCNE >>

The large majority of these so-called "true auctions" have a reserve. The seller just doen't bother to pay reserve fees to Ebay. He does have a minimum price he will accept, though. If that price isn't met then either the auction gets pulled at the late possible moment or the coin conveniently "gets lost in the mail", "sold in another venue", etc. You know it, I know it, the seller knows it.

Don't waste my time playing these kind of games. Either set your opening bid at a point where you will be satisfied--that's right, pay Ebay the extra 10 cents--or admit that you have a reserve and pay the extra listing fee to Ebay.

sonoranmonsoon · January 24, 2007 12:28PM

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

Starting an auction at one cents makes a lot of sense for sellers. A lot of buyers scan many auctions when they are listed, but are limited to 100 on their watch lists. Being able to place very low bids early, allows the bidders to watch more items from their bid lists. The more watchers, the better a seller will do at closing time.

As far as reserves go, as a buyer, it makes no difference at all to me. I am going to bid the amount I want to spend anyway. Whether I win the coin, lose it to another bidder, or lose it to not meeting the reserve, has absolutely no effect on me.

RegistryCoin · January 24, 2007 12:30PM

Ira. I don't think that is wrong. The reason I ask, is that I am willing to pay a decent price, but if there are no other bidders, other than myself, I can't get the price up to reach the reserve. In most cases when I wanted the coin, it doesn't sell due to lack of bidders. I really wanted to know what caused this lack of bids. Thanks for your input.

airplanenut · January 24, 2007 12:33PM

<< 

<< 

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

That makes no sense.

Russ, NCNE >>

The large majority of these so-called "true auctions" have a reserve. The seller just doen't bother to pay reserve fees to Ebay. He does have a minimum price he will accept, though. If that price isn't met then either the auction gets pulled at the late possible moment or the coin conveniently "gets lost in the mail", "sold in another venue", etc. You know it, I know it, the seller knows it.

Don't waste my time playing these kind of games. Either set your opening bid at a point where you will be satisfied--that's right, pay Ebay the extra 10 cents--or admit that you have a reserve and pay the extra listing fee to Ebay. >>

Why is it that of the hundreds of auctions I've recently watched, none of them were ended early?

dthigpen · January 24, 2007 12:33PM

<< Ignore them? Nope. But, if it's something I'm interested in I eMail the seller and ask for the reserve amount.

Russ, NCNE >>

Connecticoin · January 24, 2007 12:38PM

If an item I am interested in has a reserve, it does not bother me.

Many times the reserve is set at much less than the value of the coin. I just set a snipe at what I am willing to pay -- if my snipe exceeds the reserve great, if not, so what. AND if the auction does not meet reserve, I will watch to see if the seller re-lists with a lower or no reserve.

mozin · January 24, 2007 3:04PM

Normally when I see a reserve auction on ebay, I just pass on down the road. If it is a special coin, I will email the seller asking for the reserve amount. If the seller refuses to disclose his reserve, I mark it down, and never again consider bidding on his lots.

clarkbar04 · January 24, 2007 3:10PM

I usually don't bother.

I have recently been the high bidder on a coin, and the seller said shipping was $5 and insurance was an extra $2, which was required, for a total of $7. After the auction was over he told me that I should insure the coin, and it would cost him $10 to insure it. You better believe I'm not completing this transaction.

DennisH · January 24, 2007 3:11PM

Most of the time (maybe 90%) I do just ignore them.

MajorDuty · January 24, 2007 3:54PM

I tend to skip right on by reserve auctions as well. If I'm interested, I'll inquire as to what the reserve is.

<< 

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

I agree. >>

Three agrees to this so far? I want some of what you guys are smoking. Quit bogarting it.

One cent or .99 cent starting bid auctions generate interest and increase bid activity. It's a good and solid practice.

mr3holesinone · January 24, 2007 4:28PM

I pass on any auction with a reserve even if it is for something I really want. I'm not going to play guessing games or run up my own bids.

I start my auctions at a penny with no reserve. Granted, I've only run two coin auctions but it seems a fair way to run an auction. I admit, I'm nervous as can be when my coin hasn't reached a fair price by day #5 or 6 (or when I'm still waiting for the first bid!). Luckily they both reached a fair price. I'm still trying to figure out how or if the number of visits and watchers relate to the auction...the higher the better I guess, lol.

BlindedByEgo · January 24, 2007 4:39PM

I look at a lot of auctions on Ebay but rarely buy anymore - but what I do like is the two tiered pricing of a reasonable starting bid and a disappearing "buy-it-now" above it. Kinda says to me (and I'm assuming others) to put up or shut up.

I've read many times here of people complaining that they should have just hit the BIN 'cause the auction closed so high.

PerryHall · January 24, 2007 4:43PM

<< Ignore them? Nope. But, if it's something I'm interested in I eMail the seller and ask for the reserve amount. >>

How often do they tell you the reserve?

brccoins · January 24, 2007 5:10PM

I used to list a lot of auctions with reserves and I did quite well with them for a while but now they have become outdated with the introduction of the "best offer" option which can also eliminates true bidding. As with reserves the best offer option allows you to realize the maximum amount the highest bidder is willing to pay by removing a 2nd highest bidder.

ColonialCoinUnion · January 24, 2007 6:28PM

<< The fastest way NOT to sell an item on ebay is to place a reserve on it. I'll pass on any lot that has a reserve. >>

With all due respect, this is absurd.

Why would I care if there is a reserve if I like the item and I'm comfortable to pay more than the reserve amount to acquire it?

ColonialCoinUnion · January 24, 2007 6:33PM

<< 

<< I am much more likely to ignore the "start at one cent" waste of everyone's time auctions. >>

That makes no sense.

Russ, NCNE >>

If an item I like is being offered by a reputable seller with no reserve and starting at a penny, I'll bid.

But for most ebay activity in which I participate, the seller is unknown to me. And in such cases, if I see an interesting and valuable item being offered for what seems too cheap I am more likely to ignore it as a possible scam or some other 'too good to be true' scenario.

Perhaps I miss some absolute rips this way, but thats OK. My bias on ebay is to avoid scams, not to rip things left and right.

IrishMike · January 24, 2007 7:38PM

I've tried it both ways and not seen any difference. I've sold maybe 50 coins out of 55 that I listed. 3 of the 5 that didn't meet reserve were sold at a show for more money than my reserve. Maybe I've been successful on ebay because I had owned the coins for several years. Price range sees to matter to as most of my coins on ebay have been in the $100 to $800 value.

To arrive at a reserve I research the auction sites to see what the sales have been and then based on how my coin compares I adjust accordingly. I find that pricing it 10-15% less than a comparable auction coin sold for sparks many bids. Ebay buyers in many cases are more sophisticated than we give them credit for when it comes to pricing. Nice coins priced correctly will sell regardless of whether or not you post a reserve.

Outhaul · January 24, 2007 8:26PM

If there's a reserve, I simply post a bid that I would like to buy the coin for. If it meets the reserve, I have a chance. If it doesn't, then the price is more than I wanted to pay anyway.

ksteelheader · January 24, 2007 8:55PM

<< 

<< Ignore them? Nope. But, if it's something I'm interested in I eMail the seller and ask for the reserve amount. >>

How often do they tell you the reserve? >>

Every single time I've asked.

mozeppa · January 24, 2007 9:45PM

they don't bother me....i bid what i want to pay.... if i make it fine,if not , i move on.

Barndog · January 24, 2007 10:21PM

if the auction is for something I really do want, of course I don't ignore it.

coppercoins · January 25, 2007 12:37AM

Do you just ignore eBay auctions that have a reserve?

Yes, generally. I would prefer not to play stupid games and just bid on the coin outright without having to guess whether I'm wasting my time.

AU58WALKERS · January 25, 2007 12:55AM

<< Ignore them? Nope. But, if it's something I'm interested in I eMail the seller and ask for the reserve amount.

Russ, NCNE >>

I do this also. works every time as far as getting a response.

123cents · January 25, 2007 1:21AM

I never bid on them unless it is a must have item.

Coxe · January 25, 2007 1:21AM

No, I consider the reserve for what it is. eBay is a place for the occasional bargain but when buying coins anywhere generally there aren't bargains on truly nice coins in public sales. Not everything selling on eBay is a liquidation. So why should everything be a true auction without reserve of a sane opening bid? One can buy both the fire sale bargains and the outright sales there. The latter might be for the coins you really want and a sale anywhere is an opportunity to add that coin. You gotta buy retail sometimes if you want a nice collection.

TwoSides2aCoin · January 25, 2007 1:32AM

After reading iras post, I understand why there are reserves.
After reading a few others, I see I had better start my $25 Platinum at much higher than one cent for starters, or some people think it's a WASTE

. (and here I thought I was being fair).

I don't understand some thought processes.

Russ · January 25, 2007 1:52AM

<< The large majority of these so-called "true auctions" have a reserve. The seller just doen't bother to pay reserve fees to Ebay. He does have a minimum price he will accept, though. If that price isn't met then either the auction gets pulled at the late possible moment or the coin conveniently "gets lost in the mail", "sold in another venue", etc. You know it, I know it, the seller knows it. >>

Spoken by somebody who obviously does very little business on eBay.

BTW, for those of you who would never bid in a reserve auction on eBay can we assume you've also never bid with Heritage? Superior? ANR? Or any other auction venue? They all use reserves.

You people are sometimes amazingly silly.

Russ, NCNE

notwilight · January 25, 2007 1:53AM

<< 

<< The large majority of these so-called "true auctions" have a reserve. The seller just doen't bother to pay reserve fees to Ebay. He does have a minimum price he will accept, though. If that price isn't met then either the auction gets pulled at the late possible moment or the coin conveniently "gets lost in the mail", "sold in another venue", etc. You know it, I know it, the seller knows it. >>

Spoken by somebody who obviously does very little business on eBay. BTW, for those of you who would never bid in a reserve auction on eBay can we assume you've also never bid with Heritage? Superior? ANR? Or any other auction venue? They all use reserves. You people are sometimes amazingly silly. Russ, NCNE >>

Well said Russ.

topstuf · January 25, 2007 2:02AM

Although it's not a coin, I am running one item at this time and using the "reserve" for the first time. It is getting more activity and looks than most that I do without.

????????

IrishMike · January 25, 2007 2:04AM

I never purchase a coin anywhere unless its a must have, why else would you buy one? If the seller has a reserve its certainly not a wast of my time to throw out a reasonable bid, meaning what I am willing to pay for it. If its not high enough I move on.

Coxe · January 25, 2007 2:06AM

Exactly!

OKbustchaser · January 25, 2007 2:27AM

<< 

<< The large majority of these so-called "true auctions" have a reserve. The seller just doen't bother to pay reserve fees to Ebay. He does have a minimum price he will accept, though. If that price isn't met then either the auction gets pulled at the late possible moment or the coin conveniently "gets lost in the mail", "sold in another venue", etc. You know it, I know it, the seller knows it. >>

Spoken by somebody who obviously does very little business on eBay.

BTW, for those of you who would never bid in a reserve auction on eBay can we assume you've also never bid with Heritage? Superior? ANR? Or any other auction venue? They all use reserves.

You people are sometimes amazingly silly.

Russ, NCNE >>

You are right...I now do very little business on the bay simply because I got so tired of these very things happening. I now stick to the major auction houses where these games don't occur.

BigE · January 25, 2007 2:29AM

A reserve only protects the seller, auctions starting at one cent with no reserve means the item will sell regardless of end price. Why would the bidder prefer anything else

-------------BigE

flaminio · January 25, 2007 2:47AM

I don't ignore them, but if I'm seriously interested in bidding, I'll ask the seller what the reserve is. Three possibilities:

1) They don't tell me --> NO BID
2) They tell me, and it's outrageous --> NO BID
3) They tell me, and it's reasonable --> SNIPE!

Do you just ignore eBay auctions that have a reserve?

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