Primarily Petroliana Shop Talk Forums Shop Talk Petroliana Forums Online Auctions, eBay Craigslist Petroliana What is a reserve?

Will someone please clarify what a reserve is for me.
I believe that it means an item will sell regardless of price. I see on EBAY all the time people saying "selling at no reserve" yet the item may have a starting bid of say $2000.00. Sure sounds like a reserve of $2000.00 to me.

It's the minimum amount the seller will accept.
And yes,some people start their auctions with their reserve price.

A high opening bid protects the seller so that he gets at least his expected minimum price, if it get a bid. A reserve is a minimum bid that is hidden so a low opening bid can be shown on the list of auctions. Theoretically not much difference, but there are psychological factors in play.

See eBay Help on Reserves:
http://pages.ebay.com/help/buy/questions/reserve-price.html

if someone lists something with a starting bid of $2000, that is their reserve, but also there starting bid.

A true reserve, is a limitation set on an item that it will not sell until it meets a certain amount. which on ebay, you have to pay extra for. Using a reserve lets the seller determine what the minimum they want to accept for an item, at the same time giving them some indication of what the market thinks its worth

Also listing an ebay reserve price auction seems to promote many bidders to hunt the reserve price,then immediately cancel their bid once they've seen it and offer the seller just under the reserve price.

Thanks for the answers. I already know what a reserve is. Was just venting that when it states "No Reserve" in the above example I believe that is not right as it is in effect a reserve.
I know I may be making a mountain out of a molehill but it just kind of rubs me the wrong way.

That's just people avoiding the fee to put a reserve on their item. Give it some time and eBay will figure out how to charge for that too! lol...

they are not doing themselves any favors listing it with a high starting bid. all they are doing is preventing any shoppers from getting invested in their auction... they would have better results using an auction-style reserve, but that will cost them $20.

IMO, the principal behind "Reserve" is reasonable.

If I have an item that I believe is worth $3K, then I start the BID @ 9.99 with $3K "Reserve".

In my case, FEEs are not an issue.

Hen

Reserve is a safety net for the seller, the lowest possible price they will take for the item. I've been seeing a lot of auctions starting at a very high price. IMO that's a waste of an auction. They offer a "Buy it now" style for that.

With a BIN they lose the chance of making a lot more if there happens to be another person interested.

As a knowledgeable buyer, I know what I'm willing to pay for the item in the auction. I love it when they start the auction high but within my limits, I have a much better chance of getting it.

If ya'll are speaking from a buyers perspective, it's in your best interest so take advantage of it. If the starting price is more than you're willing to pay, then the reserve would be more than you are willing to pay as well had to put one on.

Slamming e-Bay again for no reason?

Say what you want about e-Bay; it is still the best online auction site to buy collectibles. E-Bay pays for their advertising and are helping to keep this site free for everyone here.

In spite of their small referral fee to this site, the owners of e-Bay do not find it necessary to list each and everyone of their auctions for free on this site.

Well said Dave!

I, myself have done well with eBay! I have found "Rare" beat-up steel trucks for "Restoration" purposes that I would have never found at antique shows!

I am certain, I will do well selling my stuff someday. I would not let their FEEs get in my way, as I want the "audience" eBay attracts. Nothing is FREE, IMO.

Hen