04-04-2007, 08:34 PM
My dad ran the boat back in January realizing that it was a soft market for most of the country at that time. But, he hoped he would get a bite. It was listed below NADA's lowest guesstimate as it is now. At that time bids reached 2/3's the reserve with 2600 hits on the auction.
Obviously, the market is much stronger now. Since Sunday there have been over 1100 hits and several emails.
The reason the reserve is the same as the "Buy it now" is because he doesn't want it to go for less than the "Buy it now."
We all want a bargain and hope to "steal" an item on ebay. And, most people believe it's possible. My experience is that much of the time, this is not always the case. Many people can actually do better by making an outright purchase elsewhere rather than a "win" on ebay because of over bidding. Too many people get caught up in the bidding rather than the value.
As for reserve auctions. Reserves in auctions have been around as long as auctions. It is a legitimate way to insure you don't have to give away an item just because someone has a low bid.
To not bid on an auction simply because there is a reserve is one's personal choice. However, that person may miss out on a potential good buy even though the reserve is there.
Obviously, the market is much stronger now. Since Sunday there have been over 1100 hits and several emails.
The reason the reserve is the same as the "Buy it now" is because he doesn't want it to go for less than the "Buy it now."
We all want a bargain and hope to "steal" an item on ebay. And, most people believe it's possible. My experience is that much of the time, this is not always the case. Many people can actually do better by making an outright purchase elsewhere rather than a "win" on ebay because of over bidding. Too many people get caught up in the bidding rather than the value.
As for reserve auctions. Reserves in auctions have been around as long as auctions. It is a legitimate way to insure you don't have to give away an item just because someone has a low bid.
To not bid on an auction simply because there is a reserve is one's personal choice. However, that person may miss out on a potential good buy even though the reserve is there.