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Car Forum / Antique and Collectibles / Studebaker / January 2004OT: Ebay....???
I was just wondering why sellers on eBay place items up for sale with a "reserve" and start the initial bid below their reserve price? Why not start the initial bid at the minimum they are willing to sell the item for? Am I missing something here? Just wondering...... Brad ( who's never SOLD anything on eBay before ) Treganowan 61 Hawk, 4 spd. 61V-11398 Quite simple really. If I post a car with a $100 starting bid, and a $8000 reserve, I'll attract more bidders than by starting at 6K. i.e. check out this GT Hawk with a 6K starting bid, it's worth more, but no one is bidding. http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&category=6466&item=2456 355757 The smart bidder will sit back and bid on that car in the last few minutes without a bidder pool to worry about. Would you eat at a restaurant with a empty parking lot ? <g> The more bidders, the more comfortable the potential bidder feels. > I was just wondering why sellers on eBay place items up for sale with a > "reserve" and start the initial bid below their reserve price? Why not [quoted text clipped - 6 lines] > 61 Hawk, 4 spd. > 61V-11398  SignatureJP/Maryland Studebaker On the Net http://stude.com My Ebay items:http://www.stude.com/EBAY/ 63 R2 4 speed Daytona HT(Md.keeper) 63 R2 4 speed GT Hawk 63 GT Hawk 63 Avanti R3 clone(Md.keeper) I agree John. Usually, I start all my auctions at $1.00. You get people bidding and they want to keep bidding. I am also guilty of doing the exact same thing. It is easier for me to bid on a $20 item and keep bumping it up than to start at $500. I think it is the concept of getting a 'deal' and the small bid increments are easier to swallow than bidding a big chunk all at once. >Quite simple really. If I post a car with a $100 starting bid, and a >$8000 reserve, I'll attract more bidders than by starting at 6K. i.e. [quoted text clipped - 16 lines] >> 61 Hawk, 4 spd. >> 61V-11398 Lee DeLaBarre Daytona62 1952 Commander chassis and drive train (For Sale, whole or parts) 1953 Commander Hardtop (Parts Car) 1955 Commander Coupe (Soon to be sold) 1961 Hawk (Soon to be a '53 Coupe) 1962 Lark Daytona Convertible 62V10399 1962 Lark Regal Convertible 62V????? (Dad's Last New Studebaker) 1962 Lark Regal Convertible 62V41115 (When Done, Dad's Next New Studebaker) 1962 Champ 1/2 Ton (For Sale) 1963 Avanti (Parts Car/For Sale) 1963 Cruiser (Body Tub on Frame and Most Sheet Metal/For Sale) 1963 Daytona Wagonaire (Debbie's "Little Red Wagon") 1963 GT Hawk 63V14568 (The Insurance Hawk) 1964 Avanti R2 4-Speed R5410 (Lark in a Party Dress <G>) 1964 Cruiser 64V10452 (Dubbed the Survivor II/For Sale) 1964 Lark 4-Door Sedan 64V17327 R1 Powered Y3 Police Car 1964 Lark Convertible (Really Jim Turner's but posession is 9/10 of the law) 1964 Lark Convertible (Canadian Built) 1966 Cruiser (2) Studebaker Factory Parts Train Cars I also do the $1 thing and have been pleasantly surprised most of the time. JT > I agree John. > [quoted text clipped - 58 lines] > 1966 Cruiser > (2) Studebaker Factory Parts Train Cars SignatureJT Just tooling through cyberspace in my ancient G4 >check out this GT Hawk It must be nice to live in Paradise <G>. The seats are definitely redone, but "leather?" Gary L. Studebaker Drivers Club Director - Northeast Zone 36 year member of Studebaker Drivers Club, Inc. > Would you eat at a >restaurant with a empty parking lot ? <g> In general, this is a good analogy. I had an exception to this last weekend. We were returning from a funeral service and wanted to eat somewhere. We came to restaurant that has only been reopened by new owners for a short time. There were no cars in front of the restaurant. There were a couple of cars off to the side including one that someone was trying to jump start (temperature around zero F). We went in and had good food, good service and at a fair price. It is usually hard to get a business location restarted after it has been shut down for awhile. Gary L. Studebaker Drivers Club Director - Northeast Zone 36 year member of Studebaker Drivers Club, Inc. > I was just wondering why sellers on eBay place items up for sale with a > "reserve" and start the initial bid below their reserve price? Why not > start the initial bid at the minimum they are willing to sell the item for? > Am I missing something here? That's just how auctions work. At a "live" auction, the auctioneer will usually try to start the bidding at close to what the seller wants for the car. Very seldom does anyone take the bait at that point. Then, the auctioneer will start fishing for an opening bid, dropping the starting level until it gets so low that nobody would pass on it. Once he gets an "offer" (bid,) other folks jump in. Sometimes they make reserve, or well above, sometimes they don't. Most buyers at auctions are hoping against hope that they can get a steal, and won't start the bidding unless it at least starts at a bargain price. Once the item reaches close to market value, reality kicks in, and the buyer has to decide just how bad he really wants the item. As often as not, a person that has been standing quietly in the background will jump in at the end, as other bidders start stalling. Also, if the item won't bring reserve, and you start bidding at reserve, the seller has no idea what the item MIGHT bring. By starting the auction below reserve, and letting it work it's way to whatever threshold the bidders determine, the seller can then decide if he can live with the highest bid, and drop the reserve. It's played a little bit like a game, but it's called an auction. <G> And, you just can't mess around with the rules of a game, or folks won't play. -- Dave Lester Home of the Internationally Renowned Studebaker Under Construction http://members..provalue.net/studes Hey, what a bunch of good answers. Thanks for teaching this rookie about the way of the world. It all makes sense to me....I guess if I would have thought about it, I probably could have come to an answer similar to yours. Thanks to all who responded ON the NG and off. Sincerely, Brad (who is now enlightened) Treganowan 61 Hawk, 4 spd. 61V-11398 > I was just wondering why sellers on eBay place items up for sale with a > "reserve" and start the initial bid below their reserve price? Why not [quoted text clipped - 6 lines] > 61 Hawk, 4 spd. > 61V-11398 Good answers to which I have little to add. I especially liked JP's comment about the resturant parking lot. That is human nature-to desire what other people want. > Hey, what a bunch of good answers. Thanks for teaching this rookie about > the way of the world. It all makes sense to me....I guess if I would have [quoted text clipped - 17 lines] > > 61 Hawk, 4 spd. > > 61V-11398 The restaurant observation is so true. It also works for swap meets & flea markets. If a bunch of people are cowering around a table, there must be a heap of bargains there. Other people start to squeeze in. This is especially funny when you are trying to unload the car and it is the same left-over stuff you have been hauling for years! Sometimes it seems like after ther first hour, you might as well pack up and head home. Or....always make it look like you just got there and are first setting up!! <g> KK In response to....great observations. > Good answers to which I have little to add. I especially liked JP's comment > about the resturant parking lot. [quoted text clipped - 22 lines] > > > 61 Hawk, 4 spd. > > > 61V-11398 >Am I missing something here? Yes, auction fever. Gary L. Studebaker Drivers Club Director - Northeast Zone 36 year member of Studebaker Drivers Club, Inc. |
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