We all get out of line sometimes... I think reserves are smart for the seller but annoying for the buyer. They can get people to get into the bidding momentum, but still have a guarantee.
Since this is gaining a little momentum, I've moved the conversation posts to Talk Park. For anyone whose "just tuned in", this conversation started in a topic for an eBay auction with a reserve, and I split the topic to bring the chatter here - it's a better place for this discussion, since it didn't die down in one or two posts.
To me, a reserve is a waste of time. "Bidding momentum?" That's a bunch of crap. You're entertaining the people who love tossing in lowball bids, and that could be all you end up with in the end is lowball bids. Put it up for sale at auction with a REAL bottom-dollar price that you could live with, or just keep the blasted thing. Lowball bidders won't bother, and only serious bidders will participate. If it doesn't sell then, what next? Well, either reconsider that bottom-dollar price or keep it off the market until the situation improves for whatever it is you're selling.
If I'm not mistaken, reserve auctions cost EXTRA, and they tend to have the most number of failed attempts to sell an item. Why pay extra at all? Are the lowball bidders PAYING you extra to keep them entertained while your attempted sale fails over and over?
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