TooOld Posted February 13, 2014 Share Posted February 13, 2014 Occasionally I will come across an auction for a kit I would really like and get that message after bidding . Maybe it's just me but when I see that I quit bidding so I won't waste my time . Why don't they just start the auction at the minimum price they will accept ? Maybe they like seeing 24 people bid on their kit , but they still didn't sell it . Or maybe they're just curious as to it's value and don't intend on selling it at all ! Am I the only one who feels like this , or do I just not understand the reasoning for it ? What do you think ? Quote Link to comment Share on other sites More sharing options...
jeffs396 Posted February 13, 2014 Share Posted February 13, 2014 I agree Bob... I don't even bother selling kits with an auction format anymore, I list with a 'Buy it Now' as I don't care about the drama of bidding wars, just buy it already! I will bid on an auction that has a reserve, if my MAX bid doesn't meet the seller's reserve, then I really don't need the kit that bad, another will come along... Quote Link to comment Share on other sites More sharing options...
slusher Posted February 13, 2014 Share Posted February 13, 2014 I have asked the seller thru message what the reserve is and sometimes they tell me and sometimes no. if they tell me and I still want it I bid but most of the time I pass on these auctions.. Quote Link to comment Share on other sites More sharing options...
tubbs Posted February 13, 2014 Share Posted February 13, 2014 it's the greed. they want a certain price for the kit, but if it goes higher than that, well that's great. really nothing wrong with that and I understand it. best thing to happen to a seller is a bidding war. as far as you quitting on the bid, well that's up to you, I have not (way in the minority on this one) ever bought anything off of EBAY, but if I did, I would have a price in mind and not go higher that that (typical fro everyone, I would assume). but if the price does go higher than my price, then I don't need it and stop bidding.. but seeing "RESERVE NOT MET" would not be the sole means of me stopping my bid process. any of that make sense? Quote Link to comment Share on other sites More sharing options...
tubbs Posted February 13, 2014 Share Posted February 13, 2014 I agree Bob... I don't even bother selling kits with an auction format anymore, I list with a 'Buy it Now' as I don't care about the drama of bidding wars, just buy it already! I will bid on an auction that has a reserve, if my MAX bid doesn't meet the seller's reserve, then I really don't need the kit that bad, another will come along... I thought that was the excitement on EBAY, the bidding process. with all the electronic stuff out there to send in a bid seconds before, I can see why this bidding process may turn people off. Quote Link to comment Share on other sites More sharing options...
cobraman Posted February 13, 2014 Share Posted February 13, 2014 I think they just hope that there will be a bidding frenzy which would drive the price up. Just one guy trying to outbid another guy. I always wondered how many bids are shill bids. I just offer up what I will pay and if I win fine, if not I wait for another one. Quote Link to comment Share on other sites More sharing options...
jrherald420 Posted February 13, 2014 Share Posted February 13, 2014 I will not bid on a kit with a reserve. I will find another and bid on that one. Quote Link to comment Share on other sites More sharing options...
Harry P. Posted February 13, 2014 Share Posted February 13, 2014 The idea is, if the bidders have no idea what the reserve is, that will drive the bidding higher, because people know their bid has to be higher than the reserve. So not knowing what the reserve is, if you really want the item you'll tend to bid high because you don't want to lose out by not meeting the reserve. Quote Link to comment Share on other sites More sharing options...
Jantrix Posted February 13, 2014 Share Posted February 13, 2014 (edited) I always wondered how many bids are shill bids. Yeah, I'm with you on that. I bid on a kit that had seen no action for 5 days. an hour after I bid someone bid after me. I raised my bid and he raised it again 10 minutes later. I let him have it. Coincidence? Maybe. But I think not. Edited February 13, 2014 by Jantrix Quote Link to comment Share on other sites More sharing options...
farmer1 Posted February 13, 2014 Share Posted February 13, 2014 I have noticed lately on ebay when I search completed auctions that often the "buy it now" sales are selling for more money than regular auctions, many times a LOT more ! I really don't get it ? People must just need instant gratification ? It's really making me rethink the way I list stuff for sale....... and you can knock ebay all you want, I usually get a fair price or better when selling and with a little patience and research I buy what I like at a decent price and sometimes like today I SCORE one! Quote Link to comment Share on other sites More sharing options...
TooOld Posted February 13, 2014 Author Share Posted February 13, 2014 it's the greed. they want a certain price for the kit, but if it goes higher than that, well that's great. really nothing wrong with that and I understand it. best thing to happen to a seller is a bidding war. as far as you quitting on the bid, well that's up to you, I have not (way in the minority on this one) ever bought anything off of EBAY, but if I did, I would have a price in mind and not go higher that that (typical fro everyone, I would assume). but if the price does go higher than my price, then I don't need it and stop bidding.. but seeing "RESERVE NOT MET" would not be the sole means of me stopping my bid process. any of that make sense? That does make sense . . . I usually have a good idea how much I'm willing to spend before I place my first bid and usually will place a max bid . Something about seeing " Reserve Not Met " just makes me look elsewhere . The idea is, if the bidders have no idea what the reserve is, that will drive the bidding higher, because people know their bid has to be higher than the reserve. So not knowing what the reserve is, if you really want the item you'll tend to bid high because you don't want to lose out by not meeting the reserve. I understand what you are saying but if I place a max bid and it's not high enough I'm not going to keep bidding just to see what the reserve is ! What you are really saying is that putting a " Reserve " on an item makes some people think it's really a rare kit and they better bid higher than they planned if they want it ! Quote Link to comment Share on other sites More sharing options...
Greg Myers Posted February 13, 2014 Share Posted February 13, 2014 But are they selling ? Really selling, just because it says buy it now don't mean it sold. Quote Link to comment Share on other sites More sharing options...
Ramfins59 Posted February 13, 2014 Share Posted February 13, 2014 I'm like a lot of people here. I'll place a bid, with a Max Bid, and won't go any higher. For instance, if the car I'm bidding on is offered by Modelhaus, then my Max Bid is a little less than Modelhaus' price + shipping. If I lose its no big deal, I'll either bid on another one or just buy it from Modelhaus. I usually see quite a few models or promos on EBAY that I'd love to have, but common sense and a limited budget keep me from bidding on them all. I've won my share of stuff and have enough right now, along with kits I already had to keep me busy for quite awhile.. Quote Link to comment Share on other sites More sharing options...
Fabrux Posted February 14, 2014 Share Posted February 14, 2014 A tip when looking at completed auctions: red prices didn't sell, green ones did. I've been tracking lots of kits that interest me for a while now and I've noticed that most auctions start and end on a Sunday; most bidding activity takes place within the last 20-30 minutes of the auction. Something that I've noticed that is tied in to the reserve system is an auction that has bids but still has a Buy It Now option available at the reserve price. I'm wondering if the bids don't get to the BIN price if the seller has to honour the sale? I don't think those auctions say "reserve not met" or not... Quote Link to comment Share on other sites More sharing options...
niteowl7710 Posted February 14, 2014 Share Posted February 14, 2014 When you list an auction with a BIN, the BIN has to be at least 15% higher than your opening bid is set to be. It is designed to give people who REALLY want an item, and are willing to pay that higher price to instantaneously purchase it rather than running the auction out and risk being sniped at the last second. Once someone bids on the auction the BIN option usually disappears, so it's not at all like using an auction with a Reserve. You set your opening bid for the minimum you want to get and then hope the item you have trips someone's trigger and they pull the trigger on the higher BIN price to avoid the bidding process. Frankly it's an easier process than that convoluted "Best Offer" system, which always seems to have a RIDICULOUSLY high BIN price or the "Submit Your Best Offer" button. If you want that kind of BIN price, my Best Offer is likely to be no where near what you're willing to part with the item for in the end. Seems more often than not people who run strictly BIN "auctions" either are (or are attempting to be) a more traditional retailer, it also allows you to create a month long listing for multiple copies of the same item. You often see a "xy available/xy sold" below the price, and then the tantalizing "LAST ONE!" graphic pops up when there's only 1 of the item left to taunt your senses into buying something to make sure you...don't...miss...out! Quote Link to comment Share on other sites More sharing options...
Agent G Posted February 15, 2014 Share Posted February 15, 2014 There was one seller who apparently had a friend set up automatic counter bids. He posted an item, you'd make a bid and instantaneousy it would display a higher counter offer. No thanks, I'll buy it from someone else who doesn't need me to make their house note. G Quote Link to comment Share on other sites More sharing options...
bbowser Posted February 15, 2014 Share Posted February 15, 2014 I just recently started shopping on eBay and I've scored several of the classic 30's kits I've been looking for for less than $20 shipped. I just bid what I'll pay, if I get it fine, if not there'll be another. Quote Link to comment Share on other sites More sharing options...
DPNM Posted February 16, 2014 Share Posted February 16, 2014 I am surprised that sellers still use a Reserve with the classic "Reserve Not Met". As a seller you can start your auction at any price you want. (It used to be the start prices were tiered with different costs. Now they take a percentage of the final price including shipping). As mentioned, you can ask the seller his reserve, some tell you, some don't. I generally pass on Reserve auctions. Quote Link to comment Share on other sites More sharing options...
Ace-Garageguy Posted February 16, 2014 Share Posted February 16, 2014 (edited) I just decide what I'll pay max and put my bid in at the last 7 seconds. That makes it impossible for a live bidder to hit it, and if there's a sniper program bidding on the particular auction, he can have it. My method also avoids running the price up with pointless bidding days or hours before the auction closes. I've had my high bid beaten at the last second by an automated sniper on several occasions, only to see the item re-listed later. Shill sniper? Ya think? Needless to say, I don't bid on those again. Edited February 16, 2014 by Ace-Garageguy Quote Link to comment Share on other sites More sharing options...
Pete J. Posted February 16, 2014 Share Posted February 16, 2014 I personally don't have a problem with the reserve system. Both buyer and seller are playing a poker game and they know it. It is fun to watch. Neither side is showing there cards in the hope of getting the best deal with negotiations. The reserve is there as protection for the buyer to refuse a bid that is too low. Yes, they could offer the initial bid for the reserve, but in many cases that would scare off potential buyers. Comparing it to an in person auction, it is like looking around the room to see how may people are interested in the item. I don't know if e-bay still has it but they use to have a second chance offer. If the item didn't meet reserve the seller had the option to offer it to the highest bidder at a price above the last bid. I have bought items that way and I have walked away from some. Like others have said, when I bid, I always set the max I am willing to pay for an item. If I know I am going to be on line at the time the auction ends, I don't bid until the last few seconds and throw in my max bid. That is referred to as snipping and I have no problems with that. If I get the item, good, if not, I am not tempted to raise my bid a little more to see if I can get it. Saves me a bunch of money that way. As to shill bids, well that has been a part of auctions for as long as there have been auctions. It's not ethical in my opinion and a seller can be ban on eBay for doing it, but there are ways around that too. For that reason, I don't bid on items from people who don't have a track record. A little research will serve you well in this regard. eBay is an open auction. If you keep your wits about you, you can find some good deals, but if you don't like the uncertainties then it is not for you. eBay offers buyers protection against really bad sellers, like people who take your money and run, so that is good, but it is definitely a buyer beware market. There is no protection against paying too much. I don't know how many times I have seen people pay more for an item on eBay than they can go down to the store and buy it new off the shelf. Quote Link to comment Share on other sites More sharing options...
Ace-Garageguy Posted February 16, 2014 Share Posted February 16, 2014 I don't know how many times I have seen people pay more for an item on eBay than they can go down to the store and buy it new off the shelf. Always good for a chuckle when 2 folks get in a bidding war over an item that's perceived as "rare", and drive the price up stupidly...when a little research would have turned up an identical item on a BIN for significantly less coin. I say this now in retrospect, having idiotically overpaid on a couple of things early on myself, before I fully understood the system. Once the "OMG I gotta have this one NOW!!!" emotion kicks in, you're doomed. Quote Link to comment Share on other sites More sharing options...
niteowl7710 Posted February 16, 2014 Share Posted February 16, 2014 Always good for a chuckle when 2 folks get in a bidding war over an item that's perceived as "rare", and drive the price up stupidly... Happens with real cars too, when I lived in Cleveland I used to attend a public auto auction every Friday morning, and watched two small BHPH lots get into a bidding war over a 2-3 year old F-150 Extended Cab 4x4 that by the time it was done with was priced at about $2,700 over KBB value. That doesn't factor in cleaning it up and doing any necessary repairs. I hope the guy who won it had a buyer already lined up for it since he was in it for more than he could ever dream of selling it for on a lot, usually cars there went for about 45-65% "retail". Quote Link to comment Share on other sites More sharing options...
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