Ebay: buy it now vs reserve ?, quick answer needed!

[yoopermom]

I've got a very expensive item (rv) listed on Ebay right now thanks to their $1 listing fee sale, with a reserve on it. I have someone asking about a buy it now price, but wouldn't that be "giving away" my reserve price, in essence? Doesn't seem a smart thing to do, but hate to turn away an interested person, either. Also, I have 24 watchers in less than that many hours, but only two bidders (it's a seven day auction). Is that normal? This is sure nerve wracking!
TIA!
Terri

 

[Goofy_Girl]

I've sold and purchased a fair amount on ebay and it's really up to you about revealing your reserve price. I have seen alot of auctions post their reserve price so ppl know just how much they need to bid to actually get the item versus the guessing at it.
I'm thinking this person wants to buy it now and have you close down your auction which can only be done if there are zero bidders,but since you said you have two bidders this person is going to have to bid for it.
Even if they bid the reserve price it doesn't mean they are going to win it because if someone else really wants it the price could go well over your reserve.
Hope this helps!

 

[jessica52877]

I have no issues revealing my reserve price, that way people can know and either bid that much or not.

 

[MrsPete]

With 24 "watchers", you're going to have some last-minute bids. Those people are waiting because they fear that bidding too early will drive up the price.

From your point of view, I'd go ahead and tell the questioner the reserve price. If he or she goes ahead and bids, it's likely to drive the price up earlier than might otherwise happen, which is neither good nor bad. I would not give a "buy it now" price; that'd be making a bargain with this person only, and it'd leave out other people who are watching. First, that seems unfair; second, those other buyers may drive the price higher than your expected price.

The real action happens in the last hour anyway.

 

[Imzadi]

From your point of view, I'd go ahead and tell the questioner the reserve price. If he or she goes ahead and bids, it's likely to drive the price up earlier than might otherwise happen, which is neither good nor bad. I would not give a "buy it now" price; that'd be making a bargain with this person only, and it'd leave out other people who are watching. First, that seems unfair; second, those other buyers may drive the price higher than your expected price.

The real action happens in the last hour anyway.

I agree with Mrs.Pete. I personally, do not bid on something unless I know the reserve price. It may not be worth my while. There's always another auction for the same thing, sooner or later.

 

[alexedan]

My DH (who sold a used Mercedes for $40,000 on e-bay and is an e-bay guru) says Never give up your reserve price. He says to tell them that you appreciate their interest but it would be unfair to the other bidders to divulge the reserved price. Tell them to bid what they are comfortable spending on it and that if it is not sold you will most likely relist it with a lower reserve. Do not accept outside offers to auctions...it is against e-bay regulations and they are usually frauds and it offers you no protection. That's his 2 cents.

 

[mommytoone]

My DH (who sold a used Mercedes for $40,000 on e-bay and is an e-bay guru) says Never give up your reserve price. He says to tell them that you appreciate their interest but it would be unfair to the other bidders to divulge the reserved price. Tell them to bid what they are comfortable spending on it and that if it is not sold you will most likely relist it with a lower reserve. Do not accept outside offers to auctions...it is against e-bay regulations and they are usually frauds and it offers you no protection. That's his 2 cents.

I totaly agree with this.

 

[yoopermom]

I really appreciate hearing both sides of this issue. The questioner had several other serious questions, so I think those will help her decide whether or not to bid, as well. My reserve is fairly low, but I was just too nervous to go without one and have it sell for less than a cheap WDW trip!

It's alot easier when I sell a twenty dollar item!

Thanks again!

Terri

 

[ajh88]

I may be too late to help, but if I have a reserve on an auction, I tell people in my listing what it is. It just helps answer some of the questions along the way.
Then again, I've never really sold anything for more than a couple hundred dollars, so I might be more careful if it were much more!

Good luck with your auction!

 

[Imzadi]

My DH (who sold a used Mercedes for $40,000 on e-bay and is an e-bay guru) says Never give up your reserve price. He says to tell them that you appreciate their interest but it would be unfair to the other bidders to divulge the reserved price. Tell them to bid what they are comfortable spending on it and that if it is not sold you will most likely relist it with a lower reserve. Do not accept outside offers to auctions...it is against e-bay regulations and they are usually frauds and it offers you no protection. That's his 2 cents.

I don't understand this? Wht's the big deal in not revealing your reserve price? If the reserve is too high for everyone, you're going to have to lower the reserve anyway and relist. It's not like people are going to say, "Oh, now that I know the reserve, I'll wait to see if it drops. You're always going to be bidding against people. Someone else may fine the reserve price fine.

In the end, as a Bidder, it's about what price you want to pay for a certain item, period. Whether there's a reserve or not. As the Seller, the reserve is so it won't be sold for less than they want. Although, as it turns out, that's not always the case, if no one's bid is high enough.

OP, did you do a "Completed Auctions" search for the same item to see how much the other auctions came in at? Generally, even though they are auctions, there is an average figure that each items sell for. I never bid on eBay without researching this, to see if buying on eBay for that item is worth my time. Also, it generally lets me know approximately how much I will have to bid to win the item. I win approximately 89% of the auctions I bid on. And I do not emotionally overbid.

 

[SandraVB79]

I have bought a lot on eBay, and I absolutely hate it when sellers treat their reserve price as the biggest national secret.
Why wouldn't you give it away? At least i'll know if it's in my league or not, and I won't have to loose time over it if it isn't.

IMO, reserve prices are used so you can list your item low, so it will show up when people sort with lowest price first, but you won't ahve to let it go for a low price.

 

[yoopermom]

Just an update: I decided that people who call me, I'll tell the reserve to. I've had three calls, and all seemed to appreciate knowing the reserve, and none fell over in shock . I don't feel comfortable emailing it but that's just me.

And yes, I did research, but it's a little harder with motorhomes, since it's a horrible market for them right now, and people aren't buying, or want you to give them away.

I'm just happy to have 200+ hits and 45 watchers in two days! Come on price!

Thanks again to all for advice, even conflicting.

Terri