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Re: [OM] [OT] Sniping

Subject: Re: [OM] [OT] Sniping
From: "Tom Scales" <tscales@xxxxxxxxxxxxx>
Date: Fri, 15 Dec 2000 13:20:59 -0600
I've found the same experience on selling.  Something about the bidding
process gets people quite excited.  If it is a low price item (cords, shoes,
etc), I just set a pretty low starting price and no minimum.  They find
their way to a fair price anyway.

With a big ticket item, I set a lower starting price, but a fair reserve and
let'em go.  My reserve is always quite a bit lower than what I want, though.
I find that the term 'reserve met' seems to start a bit of a frenzy. If you
get to the end of your auction and you're not already at reserve met, many
people seem to pass on it.  If you're there, they bid.

Course, that can backfire on you, like it did on my CLA'd 21/2 last week.
Thought it would be around $500 and it sold for $405.

Oh well.

Tom
From: "Scott Nelson" <SNelson@xxxxxxxx>
>
> On the selling side, I've found that a low initial minimum with a
reasonable
> reserve catches more bids and results in more completed auctions at higher
> selling prices then a unreservered auction with a high minimum bid. I
believe
> auction psychology (or is that psychosis) is at work here too.



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