Why allow bidding below reserve price?

Discussion in 'Support & Feedback' started by readytoblog, Nov 11, 2009.

  1. #1
    I see that it's possible to start an auction at any price but you can add a reserve price below which you wont sell.

    Now when my reserve price is 150$, what is the idea behind letting the auction start at $7 dollar?
     
    readytoblog, Nov 11, 2009 IP
  2. Helvetii

    Helvetii Notable Member

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    #2
    You select the starting Bid.
     
    Helvetii, Nov 11, 2009 IP
  3. digitalpoint

    digitalpoint Overlord of no one Staff

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    #3
    It's just the nature of auctions. If the seller wants, they can set the starting bid to be their reserve price.
     
    digitalpoint, Nov 11, 2009 IP
  4. readytoblog

    readytoblog Peon

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    #4
    That is how I know offline actions: starting bid = reserve price. But here I have the option to let people start bidding at a price I am not going to sell it for.

    My question is then: why would people bother to bid prices I am not going to accept?

    What is the benefit for a seller to let people start at any price when he has set a reserve price?
     
    readytoblog, Nov 11, 2009 IP
  5. jhmattern

    jhmattern Illustrious Member

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    #5
    Because when they start the bidding lower it garners more interest and attracts those early bids. When people see others bidding, they'll see there's actual interest in the product / site / etc. and bid as well. It's just a marketing strategy to attract more eyes.
     
    jhmattern, Nov 12, 2009 IP