A question about selling with a reserve on ebay

[pinnacle-project]

If somebody has an item they want a minimum amount for, some people simply make the starting bid equal to the minimum they will accept for the item. Other people start with an opening bid lower than what the minimum they will accept is but then include a reserve on the item.

For those of you who use a reserve to ensure you get the minimum you are willing to accept, why do you prefer to use a reserve?

Just wondering.

Thanks.

[sgramling]

I won't bid unless the reserve is met. Ive messaged sellers asking what the reserve is and they never say. Why the hell not??? Seems like playing games to me. If you wont take less than $100, start the bidding there.

[Leon]

Why a Reserve? For Example. Lets say you bought the Patrick Henry Magistrate can off of Ted Larsen on ebay for $2,500. same one he sold about 15 years ago. Lets say you soon afterwards picked up a slight upgrade that you preferred better because it had a cool Michigan tax lid & bottom opened. Now 15 years later what to do with this extra downgrade. You put on ebay for $100 opening bid & it gets one bid for $100 but you payed $2,500 for it 15 years earlier. your now out $2,400. Would you put your next mint Patrick Henry Magistrate can on now for $100 or $9.99 & no reserve? LEON.

[OhioCanGuy]

I think the thought process of starting a can off low, but with a higher reserve, is to get people involved/bidding/watching with the idea that it will create more action and eventually drive the price up. I know I've bid on cans before and didn't even realize there was a reserve until I noticed the "reserve not yet met" note. More bidders = more perceived competition, which ultimately might get you the price you want. Early bidders always have that fantasy of picking up a $500 can for $50. It can happen, but not often. And certainly not with a reserve.

The above said, I personally really dislike reserve auctions and in the 15+ years I've been buying and selling on Ebay have never listed anything with a reserve.

[pinnacle-project]

Why a Reserve? For Example. Lets say you bought the Patrick Henry Magistrate can off of Ted Larsen on ebay for $2,500. same one he sold about 15 years ago. Lets say you soon afterwards picked up a slight upgrade that you preferred better because it had a cool Michigan tax lid & bottom opened. Now 15 years later what to do with this extra downgrade. You put on ebay for $100 opening bid & it gets one bid for $100 but you payed $2,500 for it 15 years earlier. your now out $2,400. Would you put your next mint Patrick Henry Magistrate can on now for $100 or $9.99 & no reserve? LEON.

Personally, if I was selling something expensive like that and I was concerned the bidding would not make it up to the minimum I wanted for it, I would start the bidding at $2,500 (or whatever) rather than start the bidding at a low figure and using a reserve. That's just my opinion though which is why I was curious why some people use reserves. Maybe I am missing the boat so I wanted to find out.

[Lovegun]

If you have noticed in the last few years, "reserve" auctions have all but disappeared from can auctions on E-Bay. Personally, I have never been a fan of them as far as listing, or as a buyer, and I suspect many others agree......

[ConeAddict]

Why a Reserve? For Example. Lets say you bought the Patrick Henry Magistrate can off of Ted Larsen on ebay for $2,500. same one he sold about 15 years ago. Lets say you soon afterwards picked up a slight upgrade that you preferred better because it had a cool Michigan tax lid & bottom opened. Now 15 years later what to do with this extra downgrade. You put on ebay for $100 opening bid & it gets one bid for $100 but you payed $2,500 for it 15 years earlier. your now out $2,400. Would you put your next mint Patrick Henry Magistrate can on now for $100 or $9.99 & no reserve? LEON.

Ouch, sounds like maybe that really happened. I usually start my auctions low and haven't been burned too bad. For reasons listed above I think the reserve method probably never works, maybe you get a few more views but guessing a lot of them look at the "reserve not met" and never look again.

[Conehead]

I believe early on with ebay you had to pay a fee based on the opening bid. So that encouraged many more reserve auctions to protect your investment. When eBay's fees policy changed, the reserve auctions starting going away, because as noted below, they just don't make as much sense.

Jim

[henry porter]

I believe early on with ebay you had to pay a fee based on the opening bid. So that encouraged many more reserve auctions to protect your investment. When eBay's fees policy changed, the reserve auctions starting going away, because as noted below, they just don't make as much sense.

Jim

This.

[willssoda]

My opinion is to list it buy it now or best offer. Put what you would realistically want or hope to get then wait for offers to come in. Then you decide. I can't remember off hand but I think it will run for an extended period of time also instead of the 10 days or less

[Pokey]

I rarely sell, but I do tend to buy a lot.

I do not usually bother with Reserve Bids unless I really want the item. If the seller will say what the reserve is if I ask him/her, then I might keep looking at it if it is under the price that I am willing to pay. I remember one auction many years ago where the reserve was set at $5,000 for a can that I thought was worth maybe $800. I really don't care to help someone gauge interest in his/her can. I have better things to do with my time.

I say no to a reserve. However, you do run the risk of bidders not putting as much value to something that you do.

...so what is it really worth...?...