Ebay blows my mind!!

[Romak]

I watched this NOT sell for $795.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290511217092&ssPageName=STRK:MEWAX:IT

Only to go for...http://cgi.ebay.com/ws/eBayISAPI.dl...tf9FjB4%3D&viewitem=&sspagename=STRK:MEWAX:IT :sigh:


:screwy:

 

[bowtie427ss]

........... and there you see the difference between a high starting bid and a low one on a "no reserve" auction, not a new or complicated concept to understand.

 

[sancho22]

Looks cool. What is this thing? Never seen one before.

 

[Jeff M]

........... and there you see the difference between a high starting bid and a low one on a "no reserve" auction, not a new or complicated concept to understand.

Yes, but it would really suck if the bids only got up to a few hundred dollars for some reason and not be protected. I still think a BIN with the "Best Offer" option is the safest for the seller on expensive items.:scratch2:

 

[Andyman]

........... and there you see the difference between a high starting bid and a low one on a "no reserve" auction, not a new or complicated concept to understand.

The seller got lucky as the next bid was $657; only 2 people wanted it, the loser who bid around $1100, and the winner who got it for $1100.

That spread though is very strange; I would expect it to be only a bid increment or less, not over $400. somethings awry there.

also, it all depends on whose fishing when you're selling. I've had items close on Sunday w/o an opening bid only to get hit for the full BIN on the relist over night:

Go figure

 

[Fisherdude]

........... and there you see the difference between a high starting bid and a low one on a "no reserve" auction, not a new or complicated concept to understand.

Exactly. It happens all the time. A too high opening bid turns bidders off. A lower opening bid gets the action started.

You see the same thing on BIN auctions. There might be a $500 BIN and no reserve. Somebody will make the opening bid, the BIN disappears, and it eventually sells for much higher than $500. Or, there's a BIN and a reserve. Bidding starts, eventually the reserve gets passed and the BIN disappears, and the auction ends with...you guessed it.

 

[similost]

yep.. that's why when you go to a live auction, and item may start out being asked for $500, but they have to start dropping the price, until it gets to $100, then someone will finally bid.. then by the time it's over, it ends up going for $900...

They could have saved a lot of time by accepting the first bid at $500, but no one wants to be first, because they are hoping no one else is interested, and can get it for a lot lower price than the opening asking price..

Nothing strange here about this item and the way it sold... just mimicking what would happen at a live auction... It also depends who is in the crowd.. the person that won the second auction may not have been in the audience the first time around..

 

[tybrad]

Exactly. It happens all the time. A too high opening bid turns bidders off. A lower opening bid gets the action started.

You see the same thing on BIN auctions. There might be a $500 BIN and no reserve. Somebody will make the opening bid, the BIN disappears, and it eventually sells for much higher than $500. Or, there's a BIN and a reserve. Bidding starts, eventually the reserve gets passed and the BIN disappears, and the auction ends with...you guessed it.

Ah yes... that fickle lady we all call psychology.

 

[ducati_EL34]

Ah yes... that fickle lady we all call psychology.

psychology has got nothing to do with it. It is all about getting if for as little as possible. I have been to auctions where the item started out at some dollar amount and was lowered, and the item ended up selling for less than the opening bid. :thmbsp:

 

[zman]

Better pictures too.

 

[cooljjay]

If I have an item that I've seen sell for high dollar and I don't have much into the item, I always start it at a 1$, then you get people addicted to the bidding, and testosterone running...someone doesn't want someone else to have it...so you get maximum dollar amount...if you have it set at 750$ it gives people time to think about if they should really bid.

 

[tybrad]

psychology has got nothing to do with it. It is all about getting if for as little as possible. I have been to auctions where the item started out at some dollar amount and was lowered, and the item ended up selling for less than the opening bid. :thmbsp:

As it relates to the OP's observation, I am correct (read: experienced at buying and selling).

 

[tybrad]

psychology has got nothing to do with it. It is all about getting if for as little as possible. I have been to auctions where the item started out at some dollar amount and was lowered, and the item ended up selling for less than the opening bid. :thmbsp:

As it relates to the OP's observation, I am correct. My brother is an auction guy- seller and buyer. He knows. I an experienced on both sides too- I know.