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.01 Bids?

MillerFamily82MillerFamily82 Member Posts: 3

Not sure, I'm new at this. Not sure where to ask but here it goes:

Seeing .01 starting bids with no reserve, is there a "catch" or something? seems too good to be true when seeing, say example; a firearm sells for 10.00 when it's worth so much more.

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    PeeBobPeeBob Member Posts: 7

    Its a risk the seller is willing to take.

    If you hang around long enough you will see that penny start no reserve auctions do very well. May even be safe to say that penny start no reserve auctions do far better than ones with a set reserve for the same product. Kasey aka Locust Fork one of GB highest ranking sellers runs most of her auctions with penny start no reserve. And the firearms Kasey offers up for bid are most often high quality, "high dollar" pieces.

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    montanajoemontanajoe Forums Admins, Member, Moderator Posts: 58,107 ******

    Welcome aboard @MillerFamily82

    Deals can and have been made. However many penny start auctions end in a bidding war. A couple guys each want it, for just a couple dollars more than the other guy,and can go on for quite awhile.

    My advise is, know the item you want.

    Read the sellers ad several times.

    Ask seller questions before bidding.

    Know how much you are willing to pay for an item, to include shipping,handling,taxes,transfer fees, ,,,

    Good luck.

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    MillerFamily82MillerFamily82 Member Posts: 3

    Thank you montanajoe. That gave me clearity on how that works. Just seemed kinda "off" to me when I first saw those. Started "watching" a few of those to see how it works. I'll eventually get into the bidding game too. Thank you for the reply.

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    montanajoemontanajoe Forums Admins, Member, Moderator Posts: 58,107 ******
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    Mr. PerfectMr. Perfect Member, Moderator Posts: 66,372 ******

    Starting at a penny is a bigger risk for an unknown seller. It works much better for sellers who sell a lot.

    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
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    montanajoemontanajoe Forums Admins, Member, Moderator Posts: 58,107 ******

    …but, think about some of the penny auctions of other items, that get forgotten, overlooked, less attention.

    Items such as accessories, holsters, parts, cleaning supplies,,,,,,,,😉😉

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    GrasshopperGrasshopper Member Posts: 16,779 ✭✭✭✭

    BE careful of what you start at a penny, firearms usually ok. But I had a couple box lots of pretty good stuff that brought $6.00 and $8.50 with imo a wholesale value of between $90 and the second $125 roughly. The “buyer” got both lots and profusely apologized for such a low price- I said no problem and moved on-

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    kannoneerkannoneer Member Posts: 3,370 ✭✭✭✭
    edited April 22

    Several times I have bought single boxes of ammo for a penny, but the $15 or $20 shipping fee made it about what it would cost at a local store. At least it was delivered to my door and I did not have to drive anywhere.

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    B17-P51B17-P51 Member Posts: 2,215 ✭✭✭

    If it's something you really want get a maximum price in your head and bid it. Auto bid will bid it up for you. if it goes above that price, well so be it. Move on to something else.

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