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I am curious

Gene248Gene248 Member Posts: 358
edited March 2013 in Ask the Experts
Why do some people on the auction side list their weapons as "No Reserve" and then put a high starting bid? Seems to me that would be setting a "Reserve" on the auction. The auction in question also has a "Buy it Now" price that is exactly where the auction was started. I know some of you guys sell on the auction side so maybe one of you can explain this for me.
Thanks

Comments

  • MPMP Member Posts: 265 ✭✭✭
    edited November -1
    I can only speak for myself, I do not open and look at "Reserve" auctions.
  • geeguygeeguy Member Posts: 1,047
    edited November -1
    +1 on MP.

    Most reserve auctions are just guys looking to find what somethings worth and not really interested in selling unless it is greatly overpriced, in my experience.
    (like guys walking a gun show with a Rem 870 and they want $200 more then a new one at Dick's, just cause they want to look like they're in the game, but walk with the same gun for years)

    If it's got a high price listed to start the auction, at least we know what the guy wants instead of wasting time guessing. If you have a minimum number start at that and if it has value you will get a higher price. If overpriced, you won't get a bid.
  • BGHillbillyBGHillbilly Member Posts: 1,927 ✭✭
    edited November -1
    quote:Originally posted by geeguy
    +1 on MP.

    Most reserve auctions are just guys looking to find what somethings worth and not really interested in selling unless it is greatly overpriced, in my experience.
    (like guys walking a gun show with a Rem 870 and they want $200 more then a new one at Dick's, just cause they want to look like they're in the game, but walk with the same gun for years)

    If it's got a high price listed to start the auction, at least we know what the guy wants instead of wasting time guessing. If you have a minimum number start at that and if it has value you will get a higher price. If overpriced, you won't get a bid.
    +1x2

    Hate wasting my time bidding against an unknown reserve. I'm sure I make some guys mad with reserve auctions because while I will look if it is something I want I'll bid a ridiculous low bid instead of watching it. May do it multiple times if they relist it.

    And I too have yet to see the logic or heard any reason for having a BIN at the same price or a penny more than the start price. Unless there is some quirk in GB that prevents you from having a straight BIN auction to cater to the instant gratification junkies. I really have not looked into the different listing options available to know if that might be a reason.
  • machine gun moranmachine gun moran Member Posts: 5,198
    edited November -1
    quote:Originally posted by MP
    I can only speak for myself, I do not open and look at "Reserve" auctions.




    +1 X3

    No storefront ever has secret prices on their items which they will not reveal to prospective customers who walk in.

    If the item for sale has both a reserve price, and a 'buy it now, the 'buy it now' price is often stupidly high, and not far from the reserve price.

    A no-reserve auction removes any guesswork, even if the starting price is high, and with a lot of auctions to scan for some items, why waste time on guessing games that go nowhere?
  • SP45SP45 Member Posts: 1,761 ✭✭✭
    edited November -1
    Be poor business sense if you paid 500 and started the auction at .01 and it sold for 300. Many times on a reserve you put what you beleive to be current market price but start it low as it may not make it to the price you want. Depending on what the item get to you may sell it for less or the highest bidder. I have been at live auctions where the auctioneer has not sold to the highest bidder.
  • JohnnyBGoodJohnnyBGood Member Posts: 1,443 ✭✭✭✭✭
    edited November -1
    quote:Originally posted by Gene248
    Why do some people on the auction side list their weapons as "No Reserve" and then put a high starting bid? Seems to me that would be setting a "Reserve" on the auction.

    Most people understand "No Reserve" to mean "No Hidden Reserve."


    quote:The auction in question also has a "Buy it Now" price that is exactly where the auction was started. I know some of you guys sell on the auction side so maybe one of you can explain this for me.
    Thanks


    This allows a seller to have the option of using GunBroker in a Classified/For Sale format instead of an auction. It's an option that some sellers (and buyers) prefer.

    Johnny
  • NordicwargodNordicwargod Member Posts: 102 ✭✭
    edited November -1
    I don't understand the "reserve" philosophy either. I list an item at the minimum I would take for it, if it sells for more so much the better. If it takes a few weeks to sell or does not sell,,,,oh well!
    I've been gouged by hidden shipping fees! My only real gripe about GunBroker listing page is that if the seller selects "buyer pays actual shipping", the seller can charge whatever he wants.
  • tsr1965tsr1965 Member Posts: 8,682 ✭✭
    edited November -1
    A starting bid is a reserve, of sort, but it is not hidden. That people know what is the least you will take.

    Best
  • Gene248Gene248 Member Posts: 358
    edited November -1
    OK, I think I have a little better understanding of the situation now but to tell the truth I still do not know why a no reserve auction would have a starting price and a buy it now price that is exactly the same. Seems to me that if you can't bid on the product without bidding the BIN price it may as well be listed as a straight sale without any bidding. Guess I am just a little hard headed. Thanks for all your input.

    Gene
  • ManygunsManyguns Member Posts: 3,837
    edited November -1
    I have had very good luck starting at $.01 and having no reserve. It seems to stimulate more people into bidding and you wind up with fair market value. Of course you are taking a chance, but it usually works out.
    Tom
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