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Is this normal???


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Its just about creating a buzz around the auction which will hopefully trigger a bidding war at the end.

I know it will get heaps higher, but i was just thinking if i was selling that tank i would at least put the starting price slightly higher, or atleast not have a $1 reserve. . .

I'd be too scared like noone else bid.

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Most people have a sneaky back-up system with big-ticket items where they have their friends bump up the price for them. That way they will never let the item go for less then its worth to them.

Which doesn't always work... :roll:

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I spent three years selling stuff on trademe for my employer and a $1 reserve is actually a very good strategy if you're confident there will be interest in the item. If you set a reserve then you are essentially saying "thats what I think it is worth, anything more than that is a bonus". A $1 reserve catches more peoples attention, doesn't set any precedents about the value, and often creates a bidding war because once people bid on it they become attached and get a feeling of ownership and are more inclined to keep bidding. The most important thing to do is make sure it ends at a time when most people are going to be free to watch the auction close and put in the last minute bids.

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I spent three years selling stuff on trademe for my employer and a $1 reserve is actually a very good strategy if you're confident there will be interest in the item. If you set a reserve then you are essentially saying "thats what I think it is worth, anything more than that is a bonus". A $1 reserve catches more peoples attention, doesn't set any precedents about the value, and often creates a bidding war because once people bid on it they become attached and get a feeling of ownership and are more inclined to keep bidding. The most important thing to do is make sure it ends at a time when most people are going to be free to watch the auction close and put in the last minute bids.

agreed in total

I have never sold a think on TM but a $1 reserve is the only fair way to sell in an AUCTION

If you want an amount for it why not have a no reserve and buynow?

For the auction itself, they wanted to replace it because it looks so bad with the scratches and was old meaning it may need to be rebuilt soon

BBW

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