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Educate me, please - BIN with a reserve with 99c starting price

ram1946ram1946 Posts: 762 ✭✭
in U.S. Coin Forum
I see a fair amount of auctions with a BIN and a 99c starting price. Super-imposed over this is a supposedly secret reserve price.

If the seller wants x dollars why don't they just say so.

I wonder how successful this type of marketing really is. Doesn't seem like the type of thing that would be taught at most business schools. Of course, Ebay must love this approach. Original fees and probably one or more re-lisiting fees.

Comments

  • pcgs69pcgs69 Posts: 4,363 ✭✭✭✭
    I've had some success with this. There's an amount you're willing to settle for, but you believe that when Buyer A sees several others bidding, he'd rather hit the BIN button than chance a bidding war.
  • BECOKABECOKA Posts: 16,961 ✭✭✭
    Not sure but I have seen people bid over and over again adding 50 cents or $1 out of curiosity to find out what the reserve is. Then it becomes a challenge to go as far as you can without going over. image

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