Reserve prices and sales strategies

Why is a reserve a problem? You don't want your coin to sell for next to nothing just because the interested bidders aren't there at that moment. I think protecting a valuable coin with a reserve is a wise thing. The problem is that a lot of people have an inflated idea of what their coin is worth or they think they can make a quick buck.

 

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Why not disclose the reserve? The problem isn't necessarily having a reserve; it is keeping it hidden. Many bidders, myself included, will be turned off and won't waste our time.

 

...And this is why I will ALWAYS purchase from sellers like you, when I do make a buy. Just makes sense.

 

With the way ebays policies are going, I would be afraid to sell anything of value on ebay. If the buyer makes a claim that you sold a "fake" coin, ebay refunds their money and the buyer doesn't have to send your coin back to you. (This is what I was reading on other sites, not sure how true it is).

 

No, this was a rare error in which I had no idea the value. I was already bidding a strong bid, but inched my bid up a little to see if I could get to the reserve.

 

Reserves are the accepted practice in high end auto auctions. The unstated purpose is to generate bidding wars but most bidders are savvy enough to only bid to a pre determined value. On ebay, as a buyer, you should just bid what you're willing to pay. If that is less than the reserve then you won't get it anyway. If you bid is over the reserve then you'll only pay the reserve amount, unless someone else overbids you. As a seller you should set the reserve at the minimum you're willing to accept. It's the same as setting a starting price but you don't attract as many bidders. I will never (again) start an auction at 99¢ and take the chance of having to take a huge loss. The only time a 99¢ start makes any sense at all is if there's also a reserve.

 

I've been selling coins on eBay for several years and have never used the reserve price option until today, for one coin, thanks to this thread. If I list a coin with a 99¢ starting bid it will often attract at least one bidder who may also take advantage of my combined shipping and purchase a number of coins for 99¢ each. That is a great way to sell a number of low value coins. If I list a coin with a starting bid equal to 1/3 - 1/4th the book value it will likely not sell. People are looking for a bargain and don't seem to take the time to check the book values on coins with a higher than 99¢ starting bid. So, they buy a dollar coin for 99¢ plus shipping charge even though they probably don't need it and they will pass up a bargain on a more valuable coin. In a soft market what is a seller supposed to do?

 

Again, I have no issue with reserves. But why keep it a secret if someone asks what it is?

 

I don't bid on reserve auctions - usually they're over priced and a waste of time. I've watched a few of these auctions and found most didn't meet the reserve.

Long ago I sold with reserves, however, lately I find far fewer bidders are attracted or bids are low, so I don't sell with them either.