Archived posting to the Leica Users Group, 1999/11/06

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Subject: Re: [Leica] Holy Cow, 751 Leica items on e-bay
From: "Isaac H Crawford" <isaacc@flashcom.net>
Date: Sat, 6 Nov 1999 21:12:37 -0500
 
> >> start the bidding low but set a reserve price to protect yourself <<
> I don't understand why this is done.  Why is it different than just
starting the
> bidding at your minimum desired selling price but not having a reserve?
>

    People don't tend to bid as much if it starts higher...The idea is to
get the bidding going, when people get into it, they'll drive up the
price... You see it all the time, things that have no reserve, but a high
starting bid inevitably get zero bids. Someone with a reserve, but a low
starting bid will usually get many more bids..

Isaac