[Closed] Wow..are those reserve ( auction ) prices high in this new group..

A seller can place whatever reserve price he desires. Reserve prices are usually employed by newbies who dread the loss of $5 or who wish to make a killing on a previous purchase. Then there are those who stand to lose a great part of their investment and don't really car if the car sells or not. They test the market before putting the car up for no reserve based upon the previous (no sale) auction bids.

Many people (me included ) will not even bid on a reserve auction unless it is a highly desirable car. Sellers who use a reserve severely limit their market.

Hi, Frank..are the prices on the high side, though..or is it me..as usual!!

Clarke, I've been out of the market for the past month or so. Will not go back in until I'm flush again. That may be a while . . . Can't tell you about current prices.

Reserve Pricing is an important feature for sellers.

Many are focusing on buyer's side. NO buyer wants to see a reserve! Why? Because most want a steal. Let's be honest. The buyer wants a deep bargain and the seller wants top dollar. We need to remember that the original purpose of the Reserve Price was (and still is) to protect the seller's item from selling at a price lower than might be reasonable to the seller. Sure, the seller could just list the starting price to be the lowest price acceptable, but that would turn more bidders off than using a Reserve. I normally do not use Reserve Pricing unless I am concerned the item will sell well below what I would consider reasonable. By the way, this is why most auto auctions have reserves. Only the big dogs like Barrett Jackson can afford to insist no-reserves. Then again, their items are typically the cream of the crop. LOL! But this is just my own opinion.

A different perspective . . .

You say "Sure, the seller could just list the starting price to be the lowest price acceptable, but that would turn more bidders off than using a Reserve." Speaking as someone who has bought dozens of cars on the D4C auction, reserves turn me off (totally), but minimum prices never do. What's the point of keeping your minimum price secret? It just wastes my time if I place a bid and the bidding never reaches the reserve.

How do you know what the reserve prices are?

Dan, you don't until someone exceeds the reserve.....

I have had a few buys that I was the highest bidder but did not meet the reserve price. The sellers then gave me a second chance to buy the item at or near my bid because they decided that it was to their advantage to sell it for less than reserve rather than relist and wait for the next sale to conclude. Reserves really don't bother me that much as I have used it a couple times to sell an item. Yes, a high opening bid does save me time and effort if I do not want to pay what they are asking...and a reserve item does take an entry bid and time to watch the sale. In my opinion, the reserve may be more of a 'wheel-and-deal' sale as you offer your highest bid and the seller may then counter-offer via a second chance offer...... 2 different points of discussion.

Dan..I'm with you on this one...

..thought i was the only one on this page.
I like to see the price up front, and decide a fair price offer. I respect that the seller would not like to give the model away. I approach it, 4 fun, like purchasing a 1-1, as they say. I expect to get a fair trade price, and, in turn , expect a reasonable purchase price ( I've gotten into the habit of purchasing low- mile, yr. old or demos, and it's worked out well, I think-sometimes I sell my own privately, thus, no trade, better bartering power!!
I'll seek/pay a fair price, after checking the market- after all..those guys need to pay the bills, and they are providing a service, Eh!!
Before a bid, I check the " archives ", which I believe, is very helpful 4 both buyers and sellers; very glad this is available- thanx Legacy- great idea!!
PS-are you guys lucky- I've been having computer crashj probs... gotta' temp. use library to post..likely won't see you quite as " frequent ". Ain't ya' lucky, Jerry-LOL=;