Re: SER1 eBay Reserves

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Wayne

Yes I understand the psychology bit, but I would have thought that a
starting price of something like 10% or 20 % of the reserve would have been
more realistic.  That way people get the idea that the reserve is much
higher, it gets the ridiculous bidders out of the match and the serious
bidders take less time to get to the reserve.

When you go to an auction IRL, the auctioneer starts with what he believes
is a realistic opening price, if he thinks it will go for 5,000.00  he
doesn't start at 100.00 he starts at 3,000.00 or 4,000.00.  If he doesn't
get that bid then he will drop the opening bid but never to a bid of about
1% of the reserve.  It's a waste of everyone's time!

In the auction in question, Ricardo Torres de Martin was an active bidder
all the way through the auction and he may have gone further but seems to
have run out of the auction time.  In this case both the active bidders and
the seller lost out.  The bidders because no-one won the item and the seller
because he (sic) has to re-list the item and wait longer for the money.

Just my thoughts.

Regards
Diana

----- Original Message ----- 
From: <wperrin@xxxxxxx.xxx>
To: <series1@xxxxxxxxx.xxx>
Sent: Wednesday, February 09, 2005 9:34 AM
Subject: Re: SER1 eBay Reserves


Diana and all,
It is the psychology of an auction.  A low start bid is designed to get the
fish nibbling at the bait.  If you really want something you will continue
to bid it up.  A high start bid rarely works unless it is obviously a high
value item
Wayne Perrin
>
> From: "Diana Alan" <dianaa@xxxxxxxx.xxx.xx>
> Date: 2005/02/08 Tue PM 04:56:18 EST
> To: "Land-Rover Series 1 List" <series1@xxxxxxxxx.xxx>
> Subject: SER1 eBay Reserves
>
> Hi Guys
>
> Why would some seller on ebay have a starting price of GB£ 2.00 at the
same time that they have a reserve of something above GB£ 125.10?
>
> It never reached the sellers reserve!
>
> Bad luck Ulrico and Ricardo, it was a nice looking dash panel!
>
> Regards
> Diana
>


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