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LARRYTOWN
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 Posted: Mon Aug 14, 2023 11:44 am Post subject: BEST OFFER AGREED BY SELER: BUT A HIGHER BID WON |
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| I contacted the ebay seller and asked what will be an accepted reserve offer for this item. The seller told me a price under what the buy it now price is. they start the bid at a very low price but say that the reserve is not met. I placed a bid here on GIXEN that matches what the seller told me, what happens if I place a bid here on GIXEN lower than what the seller told me was the reserve price, (they could be lying)? For example, the item is listed at a BUY IT NOW price of over $800, the seller sent me a message that I could start at $600, what happens if I place a snipe with GIXEN at $400? Will I loose if no one else even bids on the item, will the seller then offer me the lower reserve price? Can GIXEN see into the hidden reserve price to see what lies underneath?225723853130 |
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Cupid
Joined: 09 Aug 2007
Posts: 7783
Location: Bristol, UK
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| Posted: Mon Aug 14, 2023 1:27 pm Post subject: Re: BEST OFFER AGREED BY SELER: BUT A HIGHER BID WON |
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| LARRYTOWN wrote: | | I contacted the ebay seller and asked what will be an accepted reserve offer for this item. The seller told me a price under what the buy it now price is. they start the bid at a very low price but say that the reserve is not met. I placed a bid here on GIXEN that matches what the seller told me, what happens if I place a bid here on GIXEN lower than what the seller told me was the reserve price, (they could be lying)? |
If the seller is not lying you won't win, the best that you can hope for is that yours is the highest bid, but even if it is, the seller does not have to sell at that price and it will be marked as 'Reserve Not Met', that is what the seller is paying extra for, when setting a reserve, the surety that they don't have to sell below that reserve price, no matter what the bidding is
If the seller is not lying and you place a bid at the reserve price, you will win, if you are the highest bidder. However, you will have to pay that reserve amount, even if no one else bids.
| LARRYTOWN wrote: | | For example, the item is listed at a BUY IT NOW price of over $800, the seller sent me a message that I could start at $600, what happens if I place a snipe with GIXEN at $400? |
Yes, that's the scenario I dealt with in my first paragraph. You lose if the reserve actually is $600, even if you are the highest bidder.
If the seller is lying and the reserve is less than $400, you might win at that reserve amount. However that's also the case if you bid more than $600 and no one else bids but the reserve is under $400. So if you are prepared to pay $600 that is what you should enter as your Gixen snipe value. Obviously the higher the bid, the higher the amount that you may have to pay... However, with reserves the most that you will ever have to pay is the higher of the reserve amount and one bid increment more than the next highest bidder.
| LARRYTOWN wrote: | | Will I loose if no one else even bids on the item, will the seller then offer me the lower reserve price? |
Yes, no matter how many ways you ask the question the answer will remain the same. You can not win an auction with a bid that is below the reserve price set by the seller.
No, the seller does not have to sell if their reserve is not met, and they do not even have to offer to sell at the reserve price to the highest bidder. They can relist with a Buy It Now price at the level of the reserve they want, but they are not obliged to do so and you are not obliged to buy even if they do. So basically, if no one wins the auction all bets are off and negotiation starts from scratch.
| LARRYTOWN wrote: | | Can GIXEN see into the hidden reserve price to see what lies underneath?225723853130 |
No one and no automated service can determine the reserve price of an auction without actually placing any bids. Only the seller can tell you what it is, and they can lie about it, but I really don't see why they would or what advantage they would really gain by doing so.
As always, my advice is to set your snipe at the amount that you are happy to pay. That way if it goes for more than that you should not be disappointed as you should then be thinking that the winner paid too much for it.
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LARRYTOWN
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| Posted: Thu Aug 17, 2023 11:13 am Post subject: Reserve price |
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| We,, I won this auction,single bidder,and yes I was right,the seller had a lower reserve price than the price he quoted me to start the bid at. YOU can't trust anyone these days. |
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Cupid
Joined: 09 Aug 2007
Posts: 7783
Location: Bristol, UK
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| Posted: Thu Aug 17, 2023 1:50 pm Post subject: |
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Well, yes, that is the problem with lying about things like that... you get found out... and now that seller has a buyer that does not trust them.
That is not a great start for a transaction where that buyer is then expected to pay a seller they don't trust and the seller has to send an item to a buyer they know already knows they lie... Not a position I would recommend any seller to get themselves into.. because transactions are much more likely to end up in dispute if that's how they start.
I remain of the opinion that they gain no advantage by doing so... and, in this case, a distinct disadvantage...
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| Posted: Thu Aug 17, 2023 1:50 pm Post subject: |
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LARRYTOWN
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| Posted: Thu Aug 17, 2023 3:24 pm Post subject: Reserve price |
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| With all due respect, I think you missed the point,I might be wrong,but since the seller quoted me $600 as either a starting point or a price he would be willing to accept.If I had placed a $600 starting bid on this item on the ebay site,I would have had to pay that $600 as a only bid.Regardless of what the reserve was .As it turned out,the seller contacted me with the message that somehow he had set that auction up wrong.HMMMMM? I guess be was suggesting that he had not correctly created the reserve bid to start at $600,but he is honoring it and plans to ship soon.It actually saved me $100. |
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Cupid
Joined: 09 Aug 2007
Posts: 7783
Location: Bristol, UK
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| Posted: Thu Aug 17, 2023 4:22 pm Post subject: Re: Reserve price |
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| LARRYTOWN wrote: | | With all due respect...,I would have had to pay that $600 |
No, as I said:
| Cupid wrote: | | the most that you will ever have to pay is the higher of the reserve amount and one bid increment more than the next highest bidder. |
So you would have paid exactly the same.
However, if, as you say, you | LARRYTOWN wrote: | | had placed a $600 starting bid on this item on the ebay site |
, and not through Gixen as a snipe, the price would have immediately risen to the reserve of US $500.00, which would then have encouraged others to bid more than that. So using a sniping service was still an advantage in this case, even when no other bidder was prepared to place a bid.
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LARRYTOWN
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| Posted: Fri Aug 18, 2023 5:12 am Post subject: Reserve price |
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I received this message from the seller. Apparently they must have thought they set the reserve price at $600 instead of the $500 .
New message from: conniekw16 (5)
"So I clearly didn’t set that up right ðŸ¤GBP but congrats and thank you for purchasing! I’ll pack them all up well & ship out on Monday! If you have any questions, let me know." |
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Cupid
Joined: 09 Aug 2007
Posts: 7783
Location: Bristol, UK
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| Posted: Fri Aug 18, 2023 5:30 am Post subject: |
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Yes, clearly making an excuse as to why they told you the wrong figure for the reserve.
A seller is not required to tell you what the reserve is if you ask them... and are quite at liberty to refuse to tell you... but I guess that seems a bit rude, so many sellers will if they think it will get them a bid.
I would recommend just assuming they made the mistake they said they made, and hope that they haven't made any more with the listing, the packing or the sending. You'll find that out soon enough I hope, good luck with it.
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