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Owner or not selling on ebay

Mendip-Locks

By Mendip-Locks
in General Boating

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nebulae Proficient

nebulae

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Interesting point. . May be ,if something worth £100 is bidding for £1.it may encourage some people to take a chance. On the other hand,if you want an item,you can afford it and the bidding is around what it is worth,if it says reserve not met I would not bid. Very easy to get carried away and pay over the odds at the last minute trying to find the reserve.

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MtB Veteran II

MtBDonate to Canal World

Posted
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Interesting point. . May be ,if something worth £100 is bidding for £1.it may encourage some people to take a chance. On the other hand,if you want an item,you can afford it and the bidding is around what it is worth,if it says reserve not met I would not bid. Very easy to get carried away and pay over the odds at the last minute trying to find the reserve.

 

 

You have it arse about face. Auctions are often used to sell things where the 'value' is extremely difficult to judge. Market theory holds that an auction is the best (but still flawed) way to determine the value. So you won't know it was worth £100 until someone bids that £100!

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nebulae Proficient

nebulae

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I agree that an auction,even with its drawbacks,is the best way to sell an item where the value is unknown(with a realistic reserve to prevent it being given away) Where I differ is where a reserve is hidden and is not realistic. In a sense,the value is not unknown,because the vendor thinks they know the value.The fact that everbody else disagrees,just means that there is no sale at the end of the auction.

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Jerra Veteran II

Jerra

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I agree that an auction,even with its drawbacks,is the best way to sell an item where the value is unknown(with a realistic reserve to prevent it being given away) Where I differ is where a reserve is hidden and is not realistic. In a sense,the value is not unknown,because the vendor thinks they know the value.The fact that everbody else disagrees,just means that there is no sale at the end of the auction.

Which then gives a slight indication of the items value i.e. less than the reserve price. So the value is beginning to be narrowed down.

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Paul C Veteran II

Paul C

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Normal convention would be to set the start value somewhat below the reserve, to let the bidding start and build up a bit of momentum towards the end of auction. Unfortunately there's that many people who try to "beat the system", I guess including sniping by bidding in the dying seconds, that it very often doesn't play out like that. This squishes all the activity into the last 10 secs or so if there's 2 or more people interested (and sometimes its computers bidding for them, using sniping software). Many sellers too, try to beat the system. I've even seen a seller threaten to withdraw an item from sale with a few hours to go, because they weren't happy with the way the bidding was going so far! Crazy!

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Athy Veteran II

AthyDonate to Canal World

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I've even seen a seller threaten to withdraw an item from sale with a few hours to go, because they weren't happy with the way the bidding was going so far! Crazy!

I have seen this too - but at least in my specialist field, old records, it can be because a customer has "made him an offer he can't refuse", or won't refuse.

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Marshian Engager

Marshian

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Had an email from ebay last night saying reserve reduced,

14K now 1 day 10hrs to go says reserve still not met

Apols for dragging this thread back in the direction of the OP! Now 5+ hours to go, and still at £14k. If I just had capacity for another project, this would be a steal at £14.1k... Of course, there's often a flurry of last minute bids

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MtB Veteran II

MtBDonate to Canal World

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Apols for dragging this thread back in the direction of the OP! Now 5+ hours to go, and still at £14k. If I just had capacity for another project, this would be a steal at £14.1k... Of course, there's often a flurry of last minute bids

 

 

Except that you probably can't buy it for £14.1k, even if no-one else bids.

 

At £14k the reserve has not been met. My gut feeling is the reserve will be at least £25k if not a great deal more. The way the listing is written gives me the impression the seller has a pretty optimistic idea of the value of this boat.

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Marshian Engager

Marshian

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Had an email from ebay last night saying reserve reduced,

14K now 1 day 10hrs to go says reserve still not met.

 

Apols for dragging this thread back in the direction of the OP! Now 5+ hours to go, and still at £14k. If I just had capacity for another project, this would be a steal at £14.1k... Of course, there's often a flurry of last minute bids

 

Except that you probably can't buy it for £14.1k, even if no-one else bids.

 

At £14k the reserve has not been met. My gut feeling is the reserve will be at least £25k if not a great deal more. The way the listing is written gives me the impression the seller has a pretty optimistic idea of the value of this boat.

 

 

Mike - Mendip-Locks posted the reserve before I posted. Cheers Mendip! I still didn't bid, and think it's a bargain at £14.6k. Subject to what the survey reveals, of course! Not so much a flurry of last minute bids, more a trickle

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Jrtm Experienced

Jrtm

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Nope not me. If I get a third boat it needs to be more interesting than that one!

 

I'm rather taken with the wooden Walton NB on ebay at the mo...

 

But I think its already overpriced.

Dont stop at a 3rd being wooden get a fleet of them!!

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