Sort Of A Etiquette Question

I have an item I've had listed for a bit on ebay. Since I'm not a dealer, I'm in no particular rush to sell it, as I generally am in no rush to sell any of my ebay listings - it's not my living, just extra cash for my collection, so there is no pressure to sell.

However, I have this one item that the bidding has come close to my reserve (about 80 percent of reserve) but it never seems to quite get to the reserve price. Now, I'm just stubborn enough to not use the second chance option for someone who is close to the reserve as I'm just not going to cave on this one.

My question is do you ever list your reserve in the item description? Also, just out of curiosity, in your listings, what is the relationship between your reserve and your "buy it now" price? When you see a "buy it now" price, do you perceive it as somewhat close to the reserve or higher than the reserve?

If you are unwilling to sell the item for less than the reserve price, why not just put the reserve price as your buy it now? Since you're firm in the price you want, nothing else makes sense.

I have seen others in ebay and other online auctions just state, "Sorry, but, the reserve price has not yet been met"

My opinion of course.

Chimo

Bujutsu

I haven't yet used the Reserve to list anythng at all.

Years ago there was a big discussion on ebay about usibenefits and problems with such an approach. I concluded, for myself anyway, out of all the back and forth, that it waa good idea to just stay clear of it altogether.

I like the auction-style format, not having a store at this time, and rely more on my skills at sales and ebay cyphering than I do at relying on buyers being aware enough of any current market pricing on my stamps.

Not every buyer wishes to know what the catalogue price is, but can certainly see a comparison online and on ebay of anything almost that they desire. So, I must certainly stay within a current selling price of an item in order to sell it, not any price I wish to sell an item at. Taht wouldn't sell many things at all now.

However, some do use the reserve, but most buyers that I know of seem to regard it with a bit of frustration and even anger. Why can't the seller decide on what price they wish ad just tell me? Or rely on the market and a good title to make buyers ware of my stamps item?

A few years ago there was a beautiful WW collection on ebay that I really wanted. I bid $4000 and was the high bidder but did not meet the reserve. However when I looked at the auction my high bid showed up as only $3100 or 1 bidding increment above the 2nd high bidder. I wrote to the seller and asked what the reserve was. He responded that it was $5000 and he was very discouraged to only get a bid of $3100. I told him I had bid $4000 and he decided to take my bid. The point is you may be getting bids very close to your reserve and not know it.

I would recommend listing your item at a fixed price, especially if you're not in a hurry.

In IRL auctions, I've seen anywhere from 10% of the items not meeting their reserve to, on one memorable occasion, at least 50% of the items "passed".

Listing an item with a reserve is inviting to people to 1) bid and 2) waste their time bidding, with the latter including inspecting the lot, researching the item, adjusting their budget, and possibly not bidding on some other lot so that they could bid on this one. Seems rude.

I think that, as a courtesy, the high bidder (only) should be advised of the reserve price, and offered a chance to meet it or, perhaps, the (binding) option to meet it half-way.

I always liked the idea of the (unfairly-named) Dutch auction, wherein the item is guaranteed to be available, at a lower & lower price each day, until it sells. Maybe I am over-channeling my inner economist, but this seems like a fair way to find the (literally) market-clearing price.

Obviously, a seller can (and many probably do) DIY a Dutch auction, by simply decrementing the price with each re-listing, but that does not seem like half as much fun.

Cheers,

/s/ ikeyPikey

I also don't sell for a living, only for money to buy more stamps.

As others have already said, I don't like or use a reserve price. As a buyer I have to wait and hope there is another bidder to get us to the reserve price. Even when other bidders do come along, I've found the reserve price is almost always higher than what I am willing to pay. As a seller, if I want a certain price I usually list it as a BIN. If I think the price could go higher I might start an auction at the price I want.

I realize that I don't get as many views as I could by starting an auction at a penny or 99 cents, but like you I'm really in no hurry to sell. As an infrequent seller I don't have any followers. I think that's one reason I usually get a better price with BIN or a higher start price than I do with a low start price auction.

-Ray

I do sell for a living, but luckily my wife has a better job.

I don't like the idea of reserve prices either. It's a game that no one needs to play.

I've said it a few times on this forum before - no matter how you sell items or at what price, always remember you are selling more than a stamp or a cover, but you are selling your service from listing to delivery and that will earn you more sales and repeat buyers.

I never bid on an auction that has a reserve. I skip right over it and I'm sure I'm far from alone

Me too. If a seller really wants to sell an item at his/her predetermined price why not use it as the starting price?

Don

Mike33, you're right - many buyers simply skip auctions with reserves, which is why I love to place bids on them :-)

I end up "winning" quite a few of those reserved auctions (but of course my final price doesn't meet reserve.) The important point is that my final price is usually lower, sometimes "significantly" lower, than if the seller had listed an unreserved auction (because people like you don't bid :-) I can't tell you how many times I've bought those items after the auction ended at my final price. I've gotten some of my best bargains that way.

I guess what I'm saying is that you're probably limiting yourself (and maybe missing important items for your collection) by ignoring "reserved" auctions. MANY sellers will reconsider their reserve after the auction ends and no bid reaches it...

On a related note, it's not uncommon for owners to list rare/unique items with "super high" reserves just to get a free appraisal with no obligation to sell (and BTW that works...) Even in those cases, the owner occasionally changes their mind after the bidding ends and accepts the final bid. And even if they don't, you've established a relationship & know where that rare/unique item resides - you may even get first crack at it when the owner IS ready to sell.

Just a little food for thought!