What's the logic behind hiding the reserve?

[Edward Tinker]

Well, it doesn't work that smooth, sorry.

I have found that if I ask $300 for a holster I "might" get a bid on it at the end of the auction. But if I ask $25, the folks start to bid and decide they want it and it ends up selling for $355.

But not always, I have had many items sell for less than I'd like and losing money sucks.

I have been to many antique auctions and many times they have reserves, as do gun auctions I have been too.

Ed

[revolverforums]

Originally Posted by Edward Tinker

Well, it doesn't work that smooth, sorry.

I have found that if I ask $300 for a holster I "might" get a bid on it at the end of the auction. But if I ask $25, the folks start to bid and decide they want it and it ends up selling for $355.

But not always, I have had many items sell for less than I'd like and losing money sucks.

I have been to many antique auctions and many times they have reserves, as do gun auctions I have been too.

Ed

I guess I'm missing the point, so your saying that your doing it in hopes of charging more then fair value? Sorry I don't follow that logic. No one ask you to lose money, that's your option. An auction to me means an item goes on the block, a starting price is broadcast. People either bid or they don't. I have been to over 100 auctions in person, never have I seen them start bidding without it being a price they would accept. To not disclose your minimum price is just an insult to a persons intelligence. If they state that in the auction to me that screams it's way more then it's worth. Just my 2 cents......