Now that would be dumb unless it is only worth $99 to him. Figure out what
YOU would really want for it (and I would say considerably more than $99)
and set that as the reserve. Remember, IIRC, if you say no reserve, you
have to sell it for whatever the highest bid is, even if it was $99.00 You
can always set the reserve extremely high just to see what the highest bid
comes out to be and if someone still exceeds that reserve, you still win.
If at first you don't succeed, you're not cut out for skydiving
Or better yet...why not store it for down the road if/when you decide
to sell it? I'd cover it and seal it watertight like with shrink wrap and
have it as an option for a potential buyer down the road.
A naive person would think this.
The psychology behind it is that people will see it and think "I'm not
letting that go to someone else for 99 bucks", and the bidding begins.
Then it will sell for what it's worth. This process has been used many
times by successful marketeers. As long as you let as many forums know
that it's for sale, and as many people as you can, it will sell for it's
value. The opposite is also true.
If you set a higher reserve price, you "tend" to get a lower high bid.
The reason is people get frustrated trying to find the reserve price and
quit bidding. When this happens, you lose the bidding competition, and
you get a lower overall bid.
You could set your first bid at your lowest selling price, but this is
usually higher than will attract any real interest, and again lose your
Know one has to try it if they can't stomach it, but it works, and I do
it all the time.
You haven't sold much on ebay have you?
I would guess that a reserve knocks out at least half the bidders.
Bidders are like feeding sharks, you have to get them into a bidding
frenzy. A reserve takes the flavor out of the bait.
On Fri, 08 Jul 2005 10:32:49 GMT, email@example.com (beekeep) wrote:
I'm constantly amazed at the things that I see sell on ebay for more than
they're worth... I guess it's the bidding frenzy?
I see used tools that sell for more than the new price and with inflated
(like $25 for a Sears router template that sells new at Sears for $19.95)
Please remove splinters before emailing
At times I email the person and ask his reserve, even though it may be
against the rules. If he decides not to divulge it, I move on, especially
with a common item. I'll be damned if I chase an item, and not meet a
reserve price, only to have another item slip by in the mean time. Hey, if
the reserve is too high, I move on. If his reserve is within my range, I bid
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