Klarinet Archive - Posting 001067.txt from 2002/06

From: Gary Van Cott <gary@-----.com>
Subj: Re: [kl] eBay questions
Date: Fri, 28 Jun 2002 22:22:47 -0400

But not all buyers are smart. Many are caught up in the enthusiasm that an
auction can generate and bid more than they had originally intended. Also
if they gradually work their way up to a higher price bidding against
others, they may decide that their original limit was too low. Hidden
reserves serve a very useful purpose in the auction business, which is why
they are widely used.

Gary
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
+ Gary Van Cott - Van Cott Information Services, Inc.
+ Clarinet, Saxophone, Flute, Double Reed Books and More
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> > I don't know people email sellers asking for the reserve price. It's all
> > part of bidding. No, I definitely say do not tell people what your reserve
> > price is. Basically as a seller it gives you the upper hand by opting to
> > not sell your item if they don't meet the price. If you tell them your
> > reserve price, they may not bid at all. Just my HO
> >
>
>Doesn't matter. A smart buyer has determined how high they will go. So if
>the reserve is higher than their limit, they won't win it even if they bid.
>So they are just wasting both their time and yours when they bid.

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