I believe you have to state what your reserve is in the auction. It can't be a "silent reserve". Unless you mean the $30 opening bid is the reserve, but that's not how I read it.
Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
Sorry. Original post edited for reserve price. Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
It's a way to keep people from being dishonest.
If you have a $30 reserve set in your mind and your item is in the middle of a bidding war and shoots up to $70, the auctioneer may say that the reserve wasn't met yet to try and inflate the price of the item even higher. Having the reserve public solves that problem.
Sorry for bumping this auction twice, mods. Just trying to help.
Sorry. Original post edited for reserve price. Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
It's a way to keep people from being dishonest.
If you have a $30 reserve set in your mind and your item is in the middle of a bidding war and shoots up to $70, the auctioneer may say that the reserve wasn't met yet to try and inflate the price of the item even higher. Having the reserve public solves that problem.
Sorry for bumping this auction twice, mods. Just trying to help.
I suppose that makes sense. Whatever happened to that thing called honesty? I guess people just aren't that honest nowadays. Anyways, thanks for the heads up.
Comments
Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
Originally posted by: Firehouse1983
Sorry. Original post edited for reserve price. Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
It's a way to keep people from being dishonest.
If you have a $30 reserve set in your mind and your item is in the middle of a bidding war and shoots up to $70, the auctioneer may say that the reserve wasn't met yet to try and inflate the price of the item even higher. Having the reserve public solves that problem.
Sorry for bumping this auction twice, mods. Just trying to help.
Originally posted by: Firehouse1983
Sorry. Original post edited for reserve price. Edit: what's the point of making a reserve if you have to tell folks what the reserve is beforehand? Doesn't sound like much of a "reserve" system to me.
It's a way to keep people from being dishonest.
If you have a $30 reserve set in your mind and your item is in the middle of a bidding war and shoots up to $70, the auctioneer may say that the reserve wasn't met yet to try and inflate the price of the item even higher. Having the reserve public solves that problem.
Sorry for bumping this auction twice, mods. Just trying to help.
I suppose that makes sense. Whatever happened to that thing called honesty? I guess people just aren't that honest nowadays. Anyways, thanks for the heads up.