Glynn Hobbs Posted February 21, 2017 Report Share Posted February 21, 2017 Looks like a decent project, but just how can you start an auction at £7000 and say it's a ''no reserve" auction?.............Looks like a £7k reserve price to me!!!! http://www.ebay.co.uk/itm/Triumph-TR3a-NO-RESERVE-/152444715254?hash=item237e69c0f6:g:sowAAOSwOgdYrCG9 Not sure it's complete either! Quote Link to post Share on other sites
Ransomes256 Posted February 21, 2017 Report Share Posted February 21, 2017 I agree the reserve would appear to be 7k but I do not blame the seller for advertising it in this way. First they do not get charged for setting a reserve price but it leaves nobody in any doubt what they are willing to accept for the item. This method stops all the bidding by people who are not really serious and expecting to get it for 1k and allows a serious buyer to be in with a shout (if they consider the starting price to be correct) as if the bids leading up to a reserve do not reach it the item will not sell. Advert is nothing to do with me. Quote Link to post Share on other sites
Lebro Posted February 21, 2017 Report Share Posted February 21, 2017 It's just another way to stop it going for a silly low figure. Advantage of a reserve (say £7000) is you can start an auction off at say £99 which will attract more interest. Looks worth it to me, but no words to say what condition the chassis in. Bob. Quote Link to post Share on other sites
Devs Posted February 21, 2017 Report Share Posted February 21, 2017 I start my auctions at the absolute minimum I'll accept. If it goes for more then it's a bonus. Much easier then faffing around with a reserve and sets a realistic expectation for the buyer. eBay encourages you to start the auction lower to attract bids, which in turn puts money in their pocket. Quote Link to post Share on other sites
Alec Pringle Posted February 21, 2017 Report Share Posted February 21, 2017 £7000 is the starting price - there is no reserve above that figure. Therefore perfectly realistic and reasonable of the seller to advertise as "NO RESERVE". For anyone like Glyn in doubt of the meaning of reserve price, see ebay explanation http://pages.ebay.co.uk/help/sell/reserve.html The listing makes it quite clear that the car is not entirely complete, but that "ALL MAJOR PARTS ARE HERE AND SO ARE MOST OF TRIM ETC " For heaven's sake, what do you expect for a £7K start price, miracles ? Cheers Alec Quote Link to post Share on other sites
TR 2100 Posted February 21, 2017 Report Share Posted February 21, 2017 Based on the photos to indicate condition and the details given to indicate completeness (latter obviously needs to be checked) Good value if you could get it for the £7000 starting bid. AlanR Quote Link to post Share on other sites
Glynn Hobbs Posted February 21, 2017 Author Report Share Posted February 21, 2017 (edited) Alec, I accept all the comments about the technicalities of a 'no reserve' statement, but if you attend any of the 'proper' car auctions (Bonhams, Brooklands etc), 'No reserve' means 'No Reserve', bidding starts at zero and the car will find its true value. Not worth losing sleep over, but I always find it interesting that sellers use the phrase No reserve................ and then put a 'starting price of 25k!!!!!! My own personal experience of selling at auctions (both professional and ebay) has been to start at no reserve and usually find I get a better price than those advertised with 'optimistic' reserves. On this particular ebay advert, I would be disappointed to pay much more than 7k, even if it is worth more.............as the advertiser has already indicated that he would accept that kind of figure! Just saying........... Edited February 21, 2017 by Glynn Hobbs Quote Link to post Share on other sites
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.