eBay question regarding reserves. Please lend your opinin.

davelowell2 · #1 08-06-2010, 06:07 PM

Edit... Sorry, "opinion".

I have something on eBay and set a reserve. A buyer asked me to tell him my reserve. In the past, I would have just ignored or said no.

Tell me, why would you ask a seller that? Why would I tell my reserve?

I'm looking for genuine points here. I still lean to not giving that out, but maybe you have some good input I haven't thought of.
Thanks Talkbass!

Jim Nazium · #2 08-06-2010, 06:42 PM

Beats me. It seems to me the whole point of having a reserve price is that bidders don't know what it is; otherwise I would just set the minimum bid equal to the reserve price. It's possible that the guy won't bid if you don't tell him what the reserve is, but other than that, there's no benefit to you to disclose it. You don't have to be rude or anything, just say "thanks for your interest but I prefer not to disclose that".

my $.02

Nightlyraider · #3 08-06-2010, 06:59 PM

As a buyer, he most likely is really really interested in this item, but has a magical dollar amount that he is willing to spend.

As a seller, you really want to sell this item, but have a magical dollar amount you are willing to finally let it go for (most often unless you like turning stuff).

Keep in mind the majority of ebay shoppers are actually looking for more instant transaction type sales then auctions; so BIN and final minutes of auctions are the real sales portion of ebay. If you have something truly unique and valuable then hold a long auction so it can get some exposure; otherwise forget about that.

**jmattbassplaya** · #4 08-06-2010, 07:03 PM

Don't even bother with him. If he wants it then tell him to keep putting in a number until he reaches it.

hdracer · #5 08-06-2010, 07:06 PM

As a large seller & buyer on ebay for a long time, I can tell you that setting a reserve is the worst thing to do. It turns off buyers. It is better to just set the opening bid at the minimum you will take. I have had the best luck and got the most money on items that I started at $1. I would tell the guy your reserve price. He may bite (unless it is to high). You don't want to turn him off.

steamthief · #6 08-07-2010, 11:39 PM

As a buyer, I want to know if the reserve price constitutes a deal. If it does, I'll bid. If the seller doesn't want to divulge it, imo, chances are he's asking too much and I move on.

bongomania · #7 08-07-2010, 11:56 PM

IMO the whole "reserve price" concept is a leftover from when Ebay was actually an auction site and not just a low-rent shopping mall (that happens to have a few auctions sometimes). Visitors to Ebay in the "old days" expected that they'd have to compete for an item via secret bids, rather than just buying like they would at a store. When there's a general understanding that it's all a big gamble, bidders don't begrudge the reserve price so much. As it is now, however, Ebay is a shopping mall; the majority of sales are buy-it-now; the majority of items up for sale have a standardized market value; and a reserve price just seems like a seller with unreasonable expectations.

I wouldn't tell this guy your reserve, since you have one; but I wouldn't recommend using a reserve anymore. If you end up relisting the item, just set the opening bid for the lowest amount you could possibly let it go for.

Let It Fall · #8 08-08-2010, 01:18 AM

Quote:

Originally Posted by hdracer

As a large seller & buyer on ebay for a long time, I can tell you that setting a reserve is the worst thing to do. It turns off buyers.

Agreed, Things with reserves RARELY EVER sell or even get bid up to what other items are selling for because people are just turned off.

By the way THIS is what a reserve is for..

You can set the reserve at a set price, so that if it doesn't exceed the reserve you dont HAVE to sell it, but you still have the option to sell at less than reserve.

Another tip, you almost always get more if you start the item at very low ammounts.. I sell 1,000$ items and start them at 99 cents.

If people aren't going to pay what you want for something, you simply want to much for it. If this is your case your best bet is to list it as BIN and put it up for renewing 30 days.

It will take a while to sell but if the extra money is worth it to you, someone may come along and just HAVE to have that particular item.

Now if your item is no different than anyone elses and your trying to get more, your just fooling yourself.

Let It Fall · #9 08-08-2010, 01:21 AM

another thing, If they want to know the reserve price I would just tell it to them. Its not like there going to do any harm with it.

Check it.. say your reserve is 1,000$ You tell the guy its 1,000 he bids 1,000 and NOBODY else bids on it, so what you got your 1,000$ If he bids 2,000$ and NOBODY else bids on it. You STILL only get 1,000.

I dont get why people wont tell their reserve price.. I usually list it in the auction. Thought I never use a reserve anymore