Is there a problem with disclosing reserve price?

Treadway1

Hi all,

Not a big question really, but just interested in what peoples thoughts on this are.

Im currently selling my motorbike on ebay, and have set a reserve price accordingly. I received an email this morning asking if I would mind telling them the reserve price, and that they promise not to immeidately offer me less (I dont why I should worry about that, its not like I would accept it...). Anyway, Ive never seen a problem with revealing the reserve as my theory is that if someone puts in a bid, for instance, a tenner less than your reserve, then Id rather let them know and maybe they would stretch their bid and buy it for that price than lose the sale.... Maybe Im looking at this the wrong way, which I guess is why Im asking.

Does anyone else have no problem with revealing their reserve, or should I now be worrying???

Cheers

mE-mE-mE_2

I like to see the reserve price that way I know if I've got a chance of winning or at least bidding enough

Enterprise_1701C

I have seen listings with the reserve price in the main text - would definitely make me bid more if the difference is not that much - better than losing something you really want and trying to guess how much the lister wants for it!

grannybiker

To look at the issue from another view....
We were recently the highest bidder on a "Reserve not met item."
We'd viewed previously and the seller refused to reveal his reserve.
We were than offered a 2nd chance offer based on our's being the highest bid which we snapped up as it was actually quite a bit less then our highest bid. Our highest bid wasn't revealed to the seller, so it worked out in our favour!

frivolous_fay

grannybiker wrote: »

To look at the issue from another view....
We were recently the highest bidder on a "Reserve not met item."
We'd viewed previously and the seller refused to reveal his reserve.
We were than offered a 2nd chance offer based on our's being the highest bid which we snapped up as it was actually quite a bit less then our highest bid. Our highest bid wasn't revealed to the seller, so it worked out in our favour!

When you say it was quite a bit less than your highest bid, do you mean it was less than you had been planning to bid (on a second bid)? Because IIRC, when you place a bid on an item with a reserve, it will automatically go to the max amount, if it's less than the reserve.

blue_haddock

When i'm selling things with a reserve and people ask me what the reserve is i just tell them to bid their maximum and find out that way.

grannybiker

frivolous_fay wrote: »

When you say it was quite a bit less than your highest bid, do you mean it was less than you had been planning to bid (on a second bid)? Because IIRC, when you place a bid on an item with a reserve, it will automatically go to the max amount, if it's less than the reserve.

It must have changed then, because our bid- according to what won, was displayed & available to the seller was £100 more than the previous highest bid. (It was a vehicle, so bids were going up in £100.)
Our highest bid we'd actually entered was £200 more than this, so we were dead chuffed to get it for the amount shown in the 2nd chance offer. :j

elfen

It might work if it's near the end of the auction, as they may put in an offer close to or at the same level of your reserve.

justevi

Against revealing your reserve is if you have say only two bidders. Your item reserve is £100, bidder a is prepared to go to £90 and bidder b as high as reserve at least. You reveal your res to bidder a, he could think well no point me bidding so bidder b puts bid of say £10 and that is where it sticks!