Seller and “ no reserve” and “ minimum bid” listed??


I see an item I am interested in but am confused by the seller listing the item as” No Reserve” but has a price listed as “ Minimum Bid”. I thought no reserve meant highest bid takes item. 

tooth2th

The ’minimum bid’ is indistinguishable from the minimum selling price.

If you’re the only bidder and you bid the minimum and win the item, how is that any different from a minimum selling price since he has to sell it to you for that minimum bid? A no reserve auction by definition has no minimum selling price.

 

I'm gonna try and sell my Fisher 800C Tube Receiver

I won't sell it unless I get a minimum price, and that has to include extra on top of what I want for eBay/PayPal fees,

I could also set a hidden reserve, and not have to sell it for less than that reserve, hoping a starting bid gets it going and others will bid before it ends.

or, 'no reserve', means once you meet my minimum starting price, highest bid, even if only you, win.

Yes, "no reserve" means that the item should sell for the top bid.  However, there's nothing that keeps the seller's buddy (or alter ego) from bidding to a particular number. And sometimes, the auction house itself will "bid." Looking at you, Mecum. 

Anatomy of a $70 Million Auction Flop

This discussion reminded me of a recent auction house disaster. The accepted variables in high stakes auctions can get complicated, hairy and panicky. As the article describes, once buyers get pissed off or feel like jilted lovers there is risk of sinking a market as often happened after 2008 in the art market. Things recovered eventually, but it took a long time.