Ebay Auction - Should I reveal the Reserve price?

george4064

As title says, I'm selling a second hand sofa on Ebay with a reserve on it.

The sofa has multiple watchers and one bid so far. Someone has messaged me asking what the reserve is on the item, I've politely responded by suggesting they bid on the item to find out the reserve price.

They've replied asking me for at least a 'rough idea' what the reserve price is.

Should I tell them or keep it to myself?

https://www.ebay.co.uk/itm/185630316812?mkcid=16&mkevt=1&mkrid=711-127632-2357-0&ssspo=i0dkjernRPO&sssrc=2349624&ssuid=i0dkjernRPO&var=&widget_ver=artemis&media=COPY

soolin

I don’t understand why it would be a secret? I assume you want the item sold, so tell them the reserve and they can either bid or decide to walk away.

GabbaGabbaHey

I'm not really sure what you gain by not telling them what the reserve price is.

george4064

Fair enough. I was thinking if I told this potential buyer the reserve price it might limit how much they will bid up to, but maybe I'm just overthinking it!

Ms_Chocaholic

What is the reserve? 

se2020

It costs extra to list with a reserve price so why not just set the starting bid at the 'reserve' price and avoid the extra fees?

soolin

george4064 said:

Fair enough. I was thinking if I told this potential buyer the reserve price it might limit how much they will bid up to, but maybe I'm just overthinking it!

They will only want to bid what they can afford and will probably just keep nibbling away, adding £1 a bid until they reach the reserve anyway or back out. Also re the point made by se2020, this listing is costing you a fortune and that will all be lost if it doesn't sell.

se2020 said:

It costs extra to list with a reserve price so why not just set the starting bid at the 'reserve' price and avoid the extra fees?

Good point, a reserve is a very expensive way to list especially as the upgrades are payable regardless of whether item sells or not.

george4064

Thanks all.

I wanted to have a low starting bid to garner interest in the item, but in hindsight it might been better to set the starting bid at my reserve price to save on the cost.

The reserve price is £200. Happy bidding! 

soolin

george4064 said:

Thanks all.

I wanted to have a low starting bid to garner interest in the item, but in hindsight it might been better to set the starting bid at my reserve price to save on the cost.

The reserve price is £200. Happy bidding! 

So an £8 non refundable  fee on top of any other selling or listing fees , at least you will know in future !

prowla

se2020 said:

It costs extra to list with a reserve price so why not just set the starting bid at the 'reserve' price and avoid the extra fees?

That.

I don't get the idea of putting a reserve on things; all it does is puts me off bothering to bid.

pinkshoes

It would have been better to just start it at £200.

Also, you are very much limiting your buyers by saying collection only. A friend of mine failed to sell a sofa on ebay but did really well selling it on a local Facebook site after a they persuaded a friend with a van to deliver it so they could offer delivery (at a cost).