mhiscox
Expedition Leader
Devil's advocate here, but if you knew the reserve price--in essence, the asking price--would you ever want to pay more? If I say I'll sell my Tacoma for $30K, would another person, perhaps one willing, pre-price revelation, to have paid my $40K, still want to do that? I think not.
I'm not arguing that there aren't plenty of items on eBay with unstated reserves for the reasons you state, but once you reveal the reserve price, it becomes more of a "Buy It Now" transaction to my mind. Admittedly, there may be some people who would perhaps pony up the money over the reserve price to try to grab the item. But in the eBay world, they'll be last second, computer-controlled snipe bids that may well take the truck. If I know the reserve price, my snipe bid goes in for, at best, a very modest amount above that reserve. If I don't know the reserve price, that bid, in my ignorance, might be several thousand higher.
And I really don't disagree with anything you said, James. I'm just pointing out that there is, at a minimum, at least one person--me--who wouldn't be willing to bid much over the reserve price once I knew what it was.
I'm not arguing that there aren't plenty of items on eBay with unstated reserves for the reasons you state, but once you reveal the reserve price, it becomes more of a "Buy It Now" transaction to my mind. Admittedly, there may be some people who would perhaps pony up the money over the reserve price to try to grab the item. But in the eBay world, they'll be last second, computer-controlled snipe bids that may well take the truck. If I know the reserve price, my snipe bid goes in for, at best, a very modest amount above that reserve. If I don't know the reserve price, that bid, in my ignorance, might be several thousand higher.
And I really don't disagree with anything you said, James. I'm just pointing out that there is, at a minimum, at least one person--me--who wouldn't be willing to bid much over the reserve price once I knew what it was.