Quick question reveal reserve?

NaughtiusMaximus

soolin wrote: »

I never ever risk a 99p start regardless of all of eBay's 'helpful' suggestions.

Depends what you're selling. For common items where there are always multiple listings (eg Blu Rays, games) it's a bad idea, but for rarely listed items which have a niche market (eg rare CDs/Vinyl, certain collectibles) I find it works well. You do need to know the market well though, if it's TOO niche a 99p listing can backfire on you.

RFW

zerog wrote: »

Because buyers are idiots. Case in point: two sellers (unrelated, from what I can tell) with similar feedback listed more or less the exact same thing, one starting at 99p and one starting at £99.99, the £99.99 one got no bids at all, and the 99p starter was bid up to £110+.

It's human nature to chance a bargain. It works in live auctions too. As an auctioneer you get more people interested if you start lower.

One good tip for any live auction is sometimes to open with a higher bid, this makes the auctioneer like you and cuts out all the other bidders who want to start lower.

NaughtiusMaximus

RFW wrote: »

One good tip for any live auction is sometimes to open with a higher bid, this makes the auctioneer like you and cuts out all the other bidders who want to start lower.

How would that help, surely the auctioneer isn't going to ignore a bid higher than yours?

sillygoose

Well my reserve is only a little over half the cash value of the item and I have now revealed that on the listing so still a bargain could be had..

Just had my first 'could I do a buy it now price?' Message. I am not inclined to as looking at past completed sales these things always get pretty near the face value.

Sorry I must sound such a hopeless newbie!

RFW

NaughtiusMaximus wrote: »

How would that help, surely the auctioneer isn't going to ignore a bid higher than yours?

I might not have been clear. If the auctioneer asks for £100 and the tendency is for other bidders is to start at £10, if you're actually willing to pay £200 you can start at £100 rather than wait for the auctioneer to drop to £10. Nothing irritates an auctioneer more than someone opening at £1 and then still bidding at £1000.

It's a good tactic as a buyer, fortunately most people ignore it! (Not that I attend live auctions very often any more).