Revealing a reserve price in an auction?

[Dar20]

I have a question about auction etiquette. I have an auction out with a reserve price, and have been requested via e-mail by a potential bidder to reveal that reserve price. Is that a normal thing? I've never been asked to do that. Have you ever had this situation?

Thanks in advance.

Dar

 

[ismetoo]

Hi Dar,

That'd be a first for me. I've actually done a few auctions where I've listed the reserve in the description, but that was because the situation warranted that the auction would go better if the bidders didn't get the impression that I had a high reserve on it. I've seen it done occasionally. Now as for a bidder asking for the reserve, you're certainly not obligated to reveal it, but I'm not savvy enough to know if it's bad auction etiquette on either side to ask or "don't tell". Depending upon how the bidder phrased the question, I don't think I'd be insulted necessarily, but I [personally] wouldn't reveal my reserve without good reason. I'm sure there are folks out there better versed than I that can profer an educated opinion.

 

[Angelrose]

I am FAR from an expert on ebay, but I think it's done by someone who really wants the item and doesn't want to take a chance on losing it through bidding. So, I don't think it's out of line.

 

[janette]

Ebay won't allow someone to up their own bid. If you have the high bid and haven't reached the reserve you could still lose the auction.

My aunt sells on ebay all the time and she sometimes lists the reserve in the description so people will know what they need to bid to win.

 

[Doctor P]

Unless I am missing something here, you are certainly allowed to up your bid on Ebay even if you have the high bid. I do it all the time.

 

[~Kathie]

You can tell them what it is or not. Up to you. I really don't think there is any etiquette concerned.

I've been selling on different auctions sites since 1997. I have been asked by email what my reserve is and I always tell the bidder. I have also emailed sellers to ask what a reserve is. Sometimes they tell me and sometimes they don't. Again, it's a personal decision.

As a bidder, I want to know if I am wasting my time bidding on an item that is way out of my price range. If the reserve is way out there (as some of them are) I don't bother to bid.

So it's totally up to the seller whether they reveal the reserve or not. If you don't want to tell .......a short email stating that you do not reveal reserves until the auction is over will do. Sometimes if bidding is slow on an item......I'll go in and reveal the reserve in the auction description.

Bottom line is you have to do whatever works for you. What works for one seller doesn't necessarily work for every seller. If you feel that strongly about it....then don't do it. Me......I think the more bidders interested the better. If they want to email me to ask what the reserve is......fine with me.

You can up your bid on ebay. You have to do that by bidding again. What you can't do is CHANGE your bid. Once you bid the only way to delete it is to retract it....and retractions go on your feedback record. People have been booted beacuse they have made a habit of retracting bids.

Hope this helps Dar.

 

[TheLionKing]

If you list the reserve, why don't you just put that as your opening bid?


Is that a way to "gauge" the market?

 

[flyinglizard]

As a bidder, I back off when I see "hidden reserves". If I'm really interested in the item, I email the seller and ask what the reserve is, and usually they tell me. But that has only been on two occasions and the seller knew me in both cases.

As a seller, I never use reserves and I put that in the description. If I want a lot of money for the item, I put that right there in the minimum bid. Plus that seperates the players from the Bargain Basement crowd.

 

[Luv2Roam]

But isn't the reason why people list items at a low cost and then set a much high reserve due to being able to skirt a higher listing fee?
That's what I always figured. I usually don't bid on hidden reserves either. I'm generally a bargain basement hunter.

 

[~Kathie]

On ebay, if the auction has a reserve, the listing fee is calculalted on the amount of the reserve price......not the amount of the opening bid.

 

[Dar20]

Thanks everyone for their help.

To answer a couple questions.. I am using a reserve because I want to sell this item, but am only willing to let it go for a minimum price. So, I guess using a reserve is a way to see what people are willing to pay right now, and maybe I'll just hold off and sell it at a later date if the reserve is not met (instead of relisting constantly and paying fees over and over).
Also, using a reserve does not mean I pay a smaller listing fee. I pay a listing fee based on my reserve, not on the starting price.

Dar

 

[nigel-bigel]

You may want to head over to ebay as well. They also have discussion boards over there, and maybe can offer you some additional insight.

Nicole