about " starting bid and reserve price" in Gunbroker.com

[efeng9622]

I saw there are a lot of items has no reserve price, I have some questions about that,
1) Since the system indicate " reserve price should be greater than starting bid " , can system allow a bidder who put a price which is below than starting bid ? if not allow , starting bid already is a minument price . why does the seller still need to spend money to set a reserve price? but I checked online , it is said reserve price is that seller must accept price, starting bit only is "suggestion" , what that mean?
2) If the system allows the bidder to put a price which is below the starting bid, then reserve price will be necessary, because maybe by end of auction, the bids are still below the reserve price.

Thank,

 

[kwb377]

I read through that a couple of times but still had trouble deciphering the exact questions, but...

If there is no Reserve price on the auction, the bidder can't put in a bid lower than the opening bid price. If there is a Reserve price, that means that's the minimum that the seller will take, and if the auction ends without the Reserve being met then all bids are null and there is no winning bidder. A seller will usually set an opening bid below Reserve in order to entice people to bid on the item in hopes that they'll become "caught up" in the bidding and the price will exceed the Reserve.

 

[efeng9622]

I read through that a couple of times but still had trouble deciphering the exact questions, but...

If there is no Reserve price on the auction, the bidder can't put in a bid lower than the opening bid price. If there is a Reserve price, that means that's the minimum that the seller will take, and if the auction ends without the Reserve being met then all bids are null and there is no winning bidder. A seller will usually set an opening bid below Reserve in order to entice people to bid on the item in hopes that they'll become "caught up" in the bidding and the price will exceed the Reserve.

but if there is no reserve price, the starting bid will become " reserve price" , that is minimum price which seller will accept, seller no need to spend money to set reserve price. right?

 

[DeepSouth]

I have to say it has always seemed to be redundant and unnecessary to me, but I’ve never really put thought into it. I don’t use gun broker much.

 

[mavracer]

Some folks just want to judge interest so they'll start very low often a penny but don't want to get burned if price stays low. Also commercial accounts don't have the same fee structure, so they don't get charged for reserve.

 

[efeng9622]

I still have a question I already wrote at begging , if an auction has no reserve price , but seller set a " starting bid price" , but a buyer insists to put a price which is below the starting price, does the system allow? should be not allow. so starting price actually is same as reserve price , because the seller will not accept a bided price which is below than starting price by end of auction.
why are some people still spent $6.00 money to set a reserve price? thanks.

 

[mavracer]

but a buyer insists to put a price which is below the starting price, does the system allow?

No.
There is a "take a shot" option that the seller can add to the listing that lets the buyer make an offer.

why are some people still spent $6.00 money to set a reserve price?

Again Commercial accounts don't pay for reserves.
And $6 is cheap insurance if you're gauging interest in a $10,000 item and don't want to sell for $500.

 

[efeng9622]

but cheap item maybe no need reserve price, https://www.gunbroker.com/item/993989244, please look at this link, the seller set $425.00 for starting bid price, I think it is very close the the finally bided price which he can get by end of auction, so in this case, he no need to set reserve price .

 

[mavracer]

but cheap item maybe no need reserve price, https://www.gunbroker.com/item/993989244, please look at this link, the seller set $425.00 for starting bid price, I think it is very close the the finally bided price which he can get by end of auction, so in this case, he no need to set reserve price .

Right it's also a relatively common item that it should be easy to set a starting price.
Note if you search for Smith 915 none have a reserve.
Now what if you have something that there aren't any on gunbroker you have three choices start at a penny and take the chance that it sells for $5, set your starting price high and take a chance that you get no traffic and no idea what it might sell for or spend $6 start it at a penny with a reserve and see where it goes.

 

[Rule3]

but cheap item maybe no need reserve price, https://www.gunbroker.com/item/993989244, please look at this link, the seller set $425.00 for starting bid price, I think it is very close the the finally bided price which he can get by end of auction, so in this case, he no need to set reserve price .

Just post a starting bid and forget the reserve. Usually the set start bid is the lowest the seller wants. Why bother having a Penny auction with a hidden reserve prices. Peopl post all kinds of low bids.

In your example that price is pretty much what that gun should sell for, (if that!) No bids yet!

Value line, used from Israel.

 

[earlthegoat2]

I don’t know why they even have a reserve option.

GB let’s sellers cancel the sale for any reason before or after the close of the auction with no consequences to the seller beside maybe some negative feedback.

I have had this happen to me twice now in a few months. I thought I was getting OK deals only to be contacted saying the price was a mistake or the item had sold in store (maybe maybe not)

With behavior like this and lack of enforcement why use a reserve at all?

 

[efeng9622]

the gun I want to sell is not an expensive gun, I can set a starting price which I can accept , even only one give me this offer , so I really no need a reserve price , i also don't need to know those buyer who is going to pay but less than my starting price, if someone want to pay less he can contact me by email.

 

[Robert]

Or you could sell it here...

 

[AlexanderA]

I hate these bidding games. Just put a set "Buy It Now" price on the item and be done with it. It shouldn't be too difficult to determine (from past sales) what an item is really worth. If it doesn't sell, you can always relist it at a lower price.

 

[efeng9622]

I hate these bidding games. Just put a set "Buy It Now" price on the item and be done with it. It shouldn't be too difficult to determine (from past sales) what an item is really worth. If it doesn't sell, you can always relist it at a lower price.

I agree with you, I may do that method.

 

[Outlaw75]

I hate these bidding games. Just put a set "Buy It Now" price on the item and be done with it. It shouldn't be too difficult to determine (from past sales) what an item is really worth. If it doesn't sell, you can always relist it at a lower price.

Auctions work well for rare or unusual items and a limited bidder pool. Online auctions for a lightly used Gen 5 Glock 19 with a $1 starting bid and a reserve of $500 is just trolling for suckers and hoping they get into a bidding war.

 

[MAKster]

The reason to have a reserve price instead of just making that the starting price is they hope to create buyer interest with a lower starting price and get a bidding war going. Most buyers hate high starting prices and just don't bid at all. Even if that starting price is where the final price likely would have ended up. Also if buyers do a search for all guns of that model for less than X price if the starting is high it likely won't be see by as many potential bidders.

 

[AlexanderA]

The reason to have a reserve price instead of just making that the starting price is they hope to create buyer interest with a lower starting price and get a bidding war going.

What you're saying is that the lister, by trying to start a bidding war, is hoping that the bidders will lose their senses and the item will end up selling for more than its actual value. Yes, this happens, but it's the very thing that savvy bidders will strive to avoid. If I find something that I really want, and that's only available by bidding (and not by Buy It Now), I'll set a proxy bid for the highest (fair) price that I'm willing to pay, and then walk away from the auction until it closes. Everybody should do this. If I "lose," I've really "won" because I have avoided overpaying. Some "greater fool" has actually "lost" by "winning."

 

[Outlaw75]

What you're saying is that the lister, by trying to start a bidding war, is hoping that the bidders will lose their senses and the item will end up selling for more than its actual value. Yes, this happens, but it's the very thing that savvy bidders will strive to avoid. If I find something that I really want, and that's only available by bidding (and not by Buy It Now), I'll set a proxy bid for the highest (fair) price that I'm willing to pay, and then walk away from the auction until it closes. Everybody should do this. If I "lose," I've really "won" because I have avoided overpaying. Some "greater fool" has actually "lost" by "winning."

A smart bidder will do that, but sometimes even smart bidders get caught in that bidding war trap. I've had it happen to me in the past, although it was eBay and not GB.

 

[Rubone]

What is way more important than starting price, reserve, minimum bid, etc is a great description and really good photos. That will create interest and may make a penny auction go into the thousands.

 

[nagmashdriver]

As a seller online for twenty years, let me explain and simplify the process of listing an item for auction.

The starting bid is what the item is actually worth at the very minimum, according to the market at the time.

The reserve is what the seller WANTS to get out of it.

The BIN (Buy It Now) is an option for listing the item at a ridiculously high price FOR THE GUY WHO HAS BEEN LOOKING FOR IT FOR YEARS AND WANTS IT REGARDLESS OF THE PRICE.

What I never understood is the high number of idiot sellers who don't understand the above and they put a starting bid of X dollars and a BIN of the same price but higher by a mere dollar. Well, it's their time to waste....

 

[dogtown tom]

As a seller online for twenty years, let me explain and simplify the process of listing an item for auction.

The starting bid is what the item is actually worth at the very minimum, according to the market at the time..

I disagree.
The starting bid is exactly that.... a starting bid. It could be .01.........do you think that's its actual worth? I don't, and no one I know would believe that.

The reserve is what the seller WANTS to get out of it.

No, its the MINIMUM bid that will win the auction. It's the MINIMUM amount , not what the seller HOPES is the winning bid.

The BIN (Buy It Now) is an option for listing the item at a ridiculously high price FOR THE GUY WHO HAS BEEN LOOKING FOR IT FOR YEARS AND WANTS IT REGARDLESS OF THE PRICE.

Again, no. "Buy it Now" isn't necessarily a "ridiculously high price". When I sell on GunBroker I don't do a reserve. I just have a starting price that is the lowest I'll accept, no reserve and a BIN price that includes free shipping. BIN prices are for those that don't want to wait a week for the auction to end.

What I never understood is the high number of idiot sellers who don't understand the above and they put a starting bid of X dollars and a BIN of the same price but higher by a mere dollar. Well, it's their time to waste...

I've never seen that. It would be odd.


I don't bother looking at auctions with reserves. Its a game that some sellers think helps them, but when you see the same item relist for months and months it just shows hidden reserves rarely invite bids over the reserve.

 

[dogtown tom]

I hate these bidding games. Just put a set "Buy It Now" price on the item and be done with it. It shouldn't be too difficult to determine (from past sales) what an item is really worth. If it doesn't sell, you can always relist it at a lower price.

If you hate bidding, don't go to auctions. Believe it or not but thats the point of an auction.

 

[DeepSouth]

If you hate bidding, don't go to auctions. Believe it or not but thats the point of an auction.

That’s true, I can’t remember buying anything from GB that wasn’t BIN. I haven’t bought much through them but the bidding just grates my nerves for some likely irrational reason. I’ll pay the BIN or not, it’s likely I’ve over paid for something as a result, but the trade was apparently worth it. When I look for something on GB I use the filter to search the buy now stuff, if it doesn’t have a buy now option I never even see it.

I did buy a belt buckle from eBay on bid once, there was no buy now option and I had been looking for one for a while.


BTW: I know I’m not normal. Lol

 

[mavracer]

I don't bother looking at auctions with reserves. Its a game that some sellers think helps them, but when you see the same item relist for months and months it just shows hidden reserves rarely invite bids over the reserve.

I don't have any stats or anything other than a guy who's been on gunbroker a lot over a time, but it seems like there's not as many auctions with reserves as there was when I first started on gunbroker in 2006 or so.