No, you are the one who is incorrect. The terms he is using for E-Bay
auctions (and auctions anywhere for that matter) are correct. His MINIMUM
STARTING BID is $8800. Just because an auction starts at a particular
amount does not mean that a winning bid for that amount will be
automatically accepted by the seller. Sellers can use a RESERVE amount -
this is the minimum dollar amount that the seller will actually accept for
their product, and is typically a blind (not publicly revealed) figure.
Reserve figures are used quite often in auctions where the product to be
bought is not in very high demand - the seller uses an underinflated dollar
amount as a minimum starting bid to attract people's attention to the
product and get the bidding started, then uses the reserve figure to make
sure that they do not get screwed if the winning bid is low. Contrary to
the way some people have been brainwashed by E-Bay sellers, minimum starting
bids do NOT need to be $1.00 in order to use a reserve... This is just a
big example of how minimum bids/reserves can reach silly levels to entice
you to buy their crap - you probably wouldn't give it a second glance until
you see that $1.00 amount, and it makes you stop and look, and probably bid
something - once you've started bidding, you can get hooked into the item
and will follow the bids as they climb.
The practice of minimum bids/reserves have been in place at auctions
throughout the world for over a century.
>
>Date: Thu, 8 May 2003 09:56:00 -0400
>From: "Rick Barnes" <barnesrv@attbi.com>
>Subject: RE: DML: RE: 1999 Dakota R/T - HEAVILY MODDED - $8800!!!
>
>I would give him two, but to say its no reserve is not true. His reserve
is
>$8,800.
>
>Rascal
>
>- -----Original Message-----
>From: owner-dakota-truck@bent.twistedbits.net
>[mailto:owner-dakota-truck@bent.twistedbits.net] On Behalf Of BARRY OLIVER
>Sent: Thursday, May 08, 2003 9:44 AM
>To: dakota-truck@dakota-truck.net
>Subject: RE: DML: RE: 1999 Dakota R/T - HEAVILY MODDED - $8800!!!
>
>
>I'll give him a dollar.... and I will even come out and picjk it up...
>
>>>> barnesrv@attbi.com 05/08/03 08:01AM >>>
>
>Uh, yeah, but that makes $8,800 his reserve as he will not take less than
>this. Typically, no reserve is ANY bid, even a minimum. Thus, his reserve
>is actually $8,800.
>
>Rascal
>
>- -----Original Message-----
>From: owner-dakota-truck@bent.twistedbits.net
>[mailto:owner-dakota-truck@bent.twistedbits.net] On Behalf Of Terrible Tom
>Sent: Thursday, May 08, 2003 7:09 AM
>To: dakota-truck-moderator@bent.twistedbits.net
>Subject: Re: DML: RE: 1999 Dakota R/T - HEAVILY MODDED - $8800!!!
>
>
>Rick Barnes wrote:
>> Excuse me, I am not trying to be rude, (though I probably am rude), but
if
>> the starting bid is $8,800, how do you consider that no reserve?
>> Nice truck.
>>
>
>No reserve indicates there is no amount that must be reached inorder for
>the sale to be final. $8800 is his opening bid. A reserve works so
>that if your auction doesn't reach a price you would be willing ot sell
>for - you dont have to sell. So if he had a reserve set at $10,000 and
>it wasnt met - he doesn't have to sell. This way - as long as at least
>one bid comes in - he has to sell. (I think there are some ammendments
>for not selling to someone with bad feedback or for whatever reasons I
>think - not totally up to date on ebay policy)
>- --
>-
----------------------------------------------------------------------------
>- ----
>Terrible Tom
>
This archive was generated by hypermail 2b29 : Fri Feb 06 2004 - 11:46:19 EST