Ebay strategies?

Started 2 months ago | Discussions thread
New Day Rising
New Day Rising Senior Member • Posts: 2,831
Re: Ebay strategies?

Jonsi wrote:

CMCM wrote:

What is a reserve?

It's sort of a minimum bid amount on an item, that also allows the seller to choose to sell for less.

It's for items whose value you aren't sure of.

In other words.. You have an older Gretsch White Falcon but you don't know for sure what it's worth. You think it's worth $10,000 but you hope for more. You set a starting bid at $8,000 with a reserve of $9,000. That means you'll accept $9,000.

All bids above $8,000 are accepted but people are told "reserve not met" until bids reach $9,000. So, when the auction ends, if the highest bid is $9,000, they win. If the highest bid is $8,500, you can decide you're willing to sell it for that... or not.

It's better than just setting the minimum bid at $9,000.

eBay Australia got rid of the reserve system a few years back - I'm 95% sure it's gone entirely. You can set a minimum bid amount - in the case you describe you have to decide if you want to set the minimum at $8,000 and take the risk it won't go much higher, or set it at $9,000. You could also do offers from $8,000 and decide whether to accept any given offer or not.

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