Or take a good guess at what the seller was thinking? Just what was the psychology behind this?
Why would a seller start a 6 day auction at $99 with a price reserve and then 4 days later, one day after the 4th bid is placed at $256, add a note to the auction that states the reserve value is $499?
No bids were placed after that note was added and the phone did not sell.
http://tinyurl.com/7l4adcu
Quote from: TelePlay on July 14, 2012, 07:46:54 PM
Or take a good guess at what the seller was thinking?
It's easy, seller thought
"It's old, therefore it's worth loads of money", and reserved it accordingly, and it didn't sell and he gets stung with ebay fees... ;D
But why disclose the reserve price?
That killed the bidding off as soon as the buyers realized the seller wanted too much for the phone.
Without knowing the reserve price, it might have been bid up to a reasonable market price which the seller could use as a lower reserve price on a re-listing.
Why kill the bidding early and not know how high it might have gone?
Quote from: TelePlay on July 14, 2012, 08:57:51 PM
But why disclose the reserve price?
Complete stupidity on their part? It's like a chain store that used to exist here in the UK until the owner was quoted as saying that the stock he bought was cheap rubbish sold at high prices, and his store chain collapsed, some people are destined to make stupid mistakes that cost them... :-\
Not to mention, greed often plays a major part in saying stupid things... :D
Gerald Ratner 2CV
That's the fella, what a wally he was... :D
Had to look up the wally reference----love the British slang!!!!