Using a hidden reserve price in auctions.


I've been both a buyer and a seller in Audiogon auctions and have not only made excellent deals with terriffic people, but had a lot of fun doing it (thanks, Audiogon!).

I've always wondered, however, why some people bother to use a hidden reserve price in auctions. I suppose some potential buyers may enjoy the mystery of a hidden reserve price, but it tends to just put me off. If a seller has a reserve price, why not just have an auction with a minimum price and no reserve? Perhaps some sellers don't realize that you can do this.

How do you feel about this?
stevegolf1

Showing 1 response by ellery911

My 2cents is that I usually avoid bidding on auctions if I dont know what the reserve price is. I once emailed a seller askingwhat the reserve was with the intention of maybe making a direct offer. He would not reveal the reserve so I made no offer. Who knows...maybe hidden reserves are a way of trying to get too much from an item. I cant begin to say how many auctions had a hidden reserve & buy it now option where the bid was within 5% of the buy it now price but the reserve had not yet been met.