Members Bassified Posted November 26, 2006 Members Share Posted November 26, 2006 Say you put an amp on auction and you start at $100. You expect to get at least $700, but the bid ends at around $500. Can you not sell it? Link to comment Share on other sites More sharing options...
Members tlbonehead Posted November 26, 2006 Members Share Posted November 26, 2006 Originally posted by Bassified Say you put an amp on auction and you start at $100. You expect to get at least $700, but the bid ends at around $500. Can you not sell it? Did you read all the selling links? It is perfectly explained. If you don't set a reserve, you are legally obligated to sell if for the final bid. Why do you think they have the reserve feature or the seller's option of where to set the minimum opening bid? Link to comment Share on other sites More sharing options...
Members Tribute2Johnny Posted November 26, 2006 Members Share Posted November 26, 2006 nope. done deal to the winner. Link to comment Share on other sites More sharing options...
Members bluesboy Posted November 26, 2006 Members Share Posted November 26, 2006 it depends on your auction style. there is an option called a reserve price. Its the lowest amount you will take to sell the item. In your case you would set the rerve at 700.... if the highest bid is 500, you dont have to sell. however, if you dont do this option, and it goes for 500, and you dont give the winner the item, you are a bad seller, will get negative feedback, etc. Link to comment Share on other sites More sharing options...
Members tlbonehead Posted November 26, 2006 Members Share Posted November 26, 2006 Originally posted by bluesboy it depends on your auction style. there is an option called a reserve price. Its the lowest amount you will take to sell the item. In your case you would set the rerve at 700.... if the highest bid is 500, you dont have to sell. however, if you dont do this option, and it goes for 500, and you dont give the winner the item, you are a bad seller, will get negative feedback, etc. And deservedly so. Link to comment Share on other sites More sharing options...
Members Bassified Posted November 26, 2006 Author Members Share Posted November 26, 2006 Originally posted by bluesboy it depends on your auction style. there is an option called a reserve price. Its the lowest amount you will take to sell the item. In your case you would set the rerve at 700.... if the highest bid is 500, you dont have to sell. however, if you dont do this option, and it goes for 500, and you dont give the winner the item, you are a bad seller, will get negative feedback, etc. Oh, so it all depends on the auction style. Basically, if I have the reserve price, I can net it at $700 (for example). Alright, that sounds good. Link to comment Share on other sites More sharing options...
Members tlbonehead Posted November 26, 2006 Members Share Posted November 26, 2006 Originally posted by Bassified Oh, so it all depends on the auction style.Basically, if you have the reserve price, so that means I can net it at $700 (for example). Alright, that sounds good. Lots of bidders get turned off by reserve prices though. I know I do. I don't know whjy there has to be a big secret. I never use them. I just set my opening bid at the absolute least I will sell the item for and usually have a BIN price too with a little incentive for buying the item early in the auction's run. Like free shipping if you use BIN and pay for the item by a certain time. Like maybe within 2-3 days of the start of the auction. Link to comment Share on other sites More sharing options...
Members guitarNed Posted November 26, 2006 Members Share Posted November 26, 2006 Yeah -- I prefer a simple, honest starting price. Think about it -- a reserve price is simply a starting price that's SECRET. Link to comment Share on other sites More sharing options...
Members tlbonehead Posted November 26, 2006 Members Share Posted November 26, 2006 Originally posted by guitarNed Yeah -- I prefer a simple, honest starting price. Think about it -- a reserve price is simply a starting price that's SECRET. What I especially find amusing are the auctions that state what their reserve price is! Link to comment Share on other sites More sharing options...
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