eBay - LAC/NAC

[Brendan]

On Friday 16 September 2005 04:01 pm, cobram at juno.com wrote:
> "David Glubrecht" <daveglu at hotmail.com> writes:
> > What is the exact point in having a reserve?
> > Why not just a starting price?
> > Seems so much easier.
> > Or at least have E-bay allow a search criteria that excludes
> > "reserve not met"
>
> Most "real world" auctions are the same.  It's a psychological tool, to
> keep people from running if they know the reserve price.  Once they start
> bidding many people have been known to loose they minds...on both sides
> of the deal.  Some seller just turned down a high bid of U$4.1 million
> for a 1971 Hemi 'Cuda convertible at the Rand/Workman Fine Motor
> Auction....go figure.

It may just as often work *against* the seller, since most bidders I know are 
annoyed by reserves and won't bid on something they normally may have.