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  1. Sapientia Cordis Ev3rclear's Fake Second Account Mar 12, 2015

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    option on ebay auctions

    i think ebay is great to buy but bad to sell.

    especially when selling you face the problem that the winner (highest bidder) wins the item but pays only slightly above the second highest bidder which can influence extremely the result.

    so if you sell a constellation deluxe valued 3000 euro and the bids are as folows:

    bidder 1: 500 euro
    bidder 2: 2000 euro
    bidder 3: 3000 euro

    bidder 3 wins the auction but has to pay only bidder 2 + a slight premium (2001 euro) but he was actually willing to pay 3000 euro for the watch.

    what do you think?
     
  2. cristos71 Mar 12, 2015

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    I think that is why as a seller you have the choice of selling no reserve, reserve or BIN. To give you the choice of method of sale.

    You cannot list no reserve and then complain if you are not happy about the end result.

    Crying and spilt milk comes to mind :D
     
  3. Darlinboy Pratts! Will I B******S!!! Mar 12, 2015

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    That is how ebay auctions work, without a reserve. If you are a seller and want a minimum amount, you must set the auction up that way in advance.
     
  4. dsio Ash @ ΩF Staff Member Mar 12, 2015

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    If the watch is good, you'll have a dozen people fighting for it and it'll go for market value or above
     
  5. LouS Mrs Nataf's Other Son Staff Member Mar 12, 2015

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    I think that's the way auctions work - not just ebay. The winner pays one bid increment above the next highest.
     
  6. Sapientia Cordis Ev3rclear's Fake Second Account Mar 12, 2015

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    bidder 1: 500 euro
    bidder 2: 2000 euro
    bidder 3: 3000 euro

    ebay auction:
    bidder 3 wins the auction but has to pay only bidder 2 + a slight premium (2001 euro) but he was actually willing to pay 3000 euro for the watch.

    normal auction:
    bidder 3 wins and pays 3000 euro, because he did bid that
     
  7. shaun hk Fairy nuffer Mar 12, 2015

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    Not sure if there is a cultural difference at play here. In a normal auction the auctioneer calls out the price and buyers bid. He would say something like 200 then 220. If other people stop bidding at 220 then 200 is the price it sells at, even if the winner was prepared to pay 500.
     
  8. MSNWatch Vintage Omega Aficionado Staff Member Mar 12, 2015

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    All auctions have bid increments - eBay is not different. Your statement about "normal auction" is correct only if the bid increment rule is 1000Euro.
     
  9. speedyfan Mar 12, 2015

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    Same thing may happen in a face to face negotiation too. Buyer is willing to pay asking price but negotiates a better price, in that case, power to the buyer. For whatever reason the seller could have stood firm and said no but sold anyway.

    If you run a no reserve auction, as the seller you don't get the choice to say no. You just get what the NEXT highest bidder is willing to pay. The flip side is you might get lucky and sell it for more than you would have ever offered it for.
     
    Edited Mar 12, 2015
  10. LouS Mrs Nataf's Other Son Staff Member Mar 12, 2015

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    False, unless bidder 3 is drunk or trying to show off to his girlfriend. Bidder 3 would bid 1 increment higher according to rules of the house - for example 2100. The same happens if he leaves an absentee bid (and the house is honest) for 3000. He pays 2100, not 3000.
     
  11. Sapientia Cordis Ev3rclear's Fake Second Account Mar 12, 2015

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    so often i have heared on an acution "auction for item number 23 starts at 1000. we have an absentee bid for 1500. any bidders for 1600? 1-2-3. sold for 1500 to absentee bidder!"

    or another auction where two bidders where fighting for a watch like this:
    auctionator: "auction starts at 100. 10 euro steps".
    b1: "110"
    b2: "120"
    b1: "200!"
    b2: "shakes head"
    auctionator: "sold for 200 to b1"
     
  12. rogart ray it again, Ram. Mar 12, 2015

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    I understand how you think . But that wouldn't work in a internet based auction . You would have to be online at the same time the auction is . As Ebay and other auction works .You put a bid you are willing to pay and then Ebay will bid for you up to when the auction is over .
     
  13. speedyfan Mar 12, 2015

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    With an auction if you hit a wide enough audience you get what the market will pay. If you want to squeeze the highest bidder for every penny he/she would have been willing to pay, advertise it for a high price and negotiate it yourself.
     
  14. Gavin It's the quiet ones you have to 'watch' out for. Mar 12, 2015

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    This is only true if the absentee bid is the only bid. If there is a bid at 1100, the absentee bid will win it at one step higher and not 1500.
     
  15. speedyfan Mar 12, 2015

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    Sorry I went on a tangent but I guess the OP is talking about or wanting ebay to be a "blind bid" style auction?