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Anyone used to 'reserves'?
06-27-2012, 02:39 PM
Post: #1
Anyone used to 'reserves'?
I currently have an item up on the bay and it has a reserve. I just received a message from a user asking me what the reserve was. "That way if I can not afford your reserve i will not waste your time of mine." I'm guessing they meant "or mine", but whatever. Anyways, is it normal for people to ask this kind of question? If it is, is it normal to give out this type of information? I'm guessing if it were, the reserve price would be listed. I've never used a reserve before so I'm kind of clueless as to these "proceedings". Any kind of help is appreciated. Thanks.

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06-27-2012, 02:51 PM
Post: #2
RE: Anyone used to 'reserves'?
(06-27-2012 02:39 PM)xstreaminsanity Wrote:  I currently have an item up on the bay and it has a reserve. I just received a message from a user asking me what the reserve was. "That way if I can not afford your reserve i will not waste your time of mine." I'm guessing they meant "or mine", but whatever. Anyways, is it normal for people to ask this kind of question? If it is, is it normal to give out this type of information? I'm guessing if it were, the reserve price would be listed. I've never used a reserve before so I'm kind of clueless as to these "proceedings". Any kind of help is appreciated. Thanks.

Reserve just basically protects you from your card selling for less than you want it to, because you're not obligated to sell it at the winning bid if it doesn't match or exceed the reserve.

(You probably knew that part.)

Perfect example, I needed funds a couple of weeks ago to take the tots to Disneyland, so I sold (among other things, like my MJ auto, ugh) a Blake Griffin jersey auto ... I had a reserve of $200 on it and the winning bid was $146 and change.

I went ahead and offered the card to the buyer, he paid immediately and all was good — the reserve just gave me options, because without the Disneyland factor I wouldn't have let it go for that.

As for your question about the bidder asking about your reserve, I wouldn't have a problem telling him ... he would know at that point what it would take to get it for sure, and if he decided to bid and was the high bidder (but under the reserve) he'd know how close he was and whether you guys wanted to go ahead with the deal from there.

If your reserve was too high IHO, like he said he wouldn't bid and waste anyone's time.

I don't think there's anything to lose.

Plus, not that I would ever do this myself or advocate anyone else doing it, it could set up a side deal scenario where he offers you more than you would have got after you paid the bay and PayPal fees, even if your reserve price was met.

But that's for your cardboard moral compass to decide. LOL
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06-27-2012, 03:01 PM
Post: #3
RE: Anyone used to 'reserves'?
lol. Thanks for the info. I knew what I was doing with the reserve, so that way I could consider the options. However, I was just curious about whether this was normal or not because if he put what he's comfortable paying and either he wins and I accept his offer (if under the reserve) or someone outbids him, I'm not seeing where anyone really loses any time. I'm not fully tied to the reserve, in fact, I highly doubt it'll hit the reserve (though I'm surprised where it's at already with 4 days and about 3 hours left). I just knew that I didn't want it to sell for like $35 or less. Everything from this sale is pure gravy, going towards supplies and probably a box or two to bust (hopefully get another complete set) if it were to sell for what the reserve is. You, and someone I texted, make it two people who don't see a problem informing them.

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06-27-2012, 03:10 PM
Post: #4
RE: Anyone used to 'reserves'?
(06-27-2012 03:01 PM)xstreaminsanity Wrote:  lol. Thanks for the info. I knew what I was doing with the reserve, so that way I could consider the options. However, I was just curious about whether this was normal or not because if he put what he's comfortable paying and either he wins and I accept his offer (if under the reserve) or someone outbids him, I'm not seeing where anyone really loses any time. I'm not fully tied to the reserve, in fact, I highly doubt it'll hit the reserve (though I'm surprised where it's at already with 4 days and about 3 hours left). I just knew that I didn't want it to sell for like $35 or less. Everything from this sale is pure gravy, going towards supplies and probably a box or two to bust (hopefully get another complete set) if it were to sell for what the reserve is. You, and someone I texted, make it two people who don't see a problem informing them.

Now that I think about it, never had anyone ask me (I've used it probably 3 or 4 times) ... but good luck on the sale ... maybe he's got one and trying to figure out what to put his up for ... ???
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06-27-2012, 03:16 PM
Post: #5
RE: Anyone used to 'reserves'?
Well I have mine listed for a bit more than others do for two reasons. One, if it sells that high, cool. But secondly, if it doesn't sell that high, at least I'll know around what it will, if I decided that I should just relist it (doubtful) or pull another one. But I've already messaged them and informed them what it was. Thanks for the well wishes.

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06-27-2012, 06:03 PM
Post: #6
RE: Anyone used to 'reserves'?
I dont give out any information to people who question me on items. Its not fair to anyone else bidding or making offers...then again I'm a really nice guy Wink

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06-28-2012, 12:27 PM
Post: #7
RE: Anyone used to 'reserves'?
I've had a few people as me what my reserve was when I was selling my Lebron Exquisite auto box set... I went ahead & gave it out..

People spend more time emailing sellers, than bidding against auctions that have a reserve listed...

I think buyers ask what the reserve is, so they can try to snipe the auction & win at the last seconds.. that's the only reasoning I can think of...

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06-28-2012, 09:28 PM
Post: #8
RE: Anyone used to 'reserves'?
It is not normal, but I have had it happen before. Sounds like the bidder has some kind of alternative motive to begin with. If your selling an item under $100, I find it strange for someone to say they cant afford it! The best thing to do IMO is just ignore the request. The whole point of a reserve auction is keep as many bidders as possible hanging on as long possible. Another tactic to use is give them an amount higher than the reserve, maybe they'll bid that amount and help you run up the price LOL.
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06-29-2012, 11:45 AM
Post: #9
RE: Anyone used to 'reserves'?
Having reserves sometimes scare people away from bidding. One easy way for people to find out what the reserved price is is to bid a crazy high amount, then once you see the reserved price, you then just retract your bid. Then you know what the reserve price is. That's why I think you should just set your item at the price you want to sell it at. Again you may scare bidders out, but at least you won't have to pay extra to put a reserved price and then not be able to get your item to sell over the reserved price
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06-29-2012, 01:04 PM
Post: #10
RE: Anyone used to 'reserves'?
(06-29-2012 11:45 AM)TangoVictorMike Wrote:  Having reserves sometimes scare people away from bidding. One easy way for people to find out what the reserved price is is to bid a crazy high amount, then once you see the reserved price, you then just retract your bid. Then you know what the reserve price is. That's why I think you should just set your item at the price you want to sell it at. Again you may scare bidders out, but at least you won't have to pay extra to put a reserved price and then not be able to get your item to sell over the reserved price

Well, it's already been listed with the reserve price so there's really no way to go back on that. It's selling alright and regardless of what it sells at, I'll probably accept it. It's already higher than I thought it would get, now I'm just HOPING for more. Smile Thanks for the advice though.

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