Archived posting to the Leica Users Group, 2003/01/10

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Subject: Re: [Leica] FS -- For those in need.
From: Christer Almqvist <chris@almqvist.net>
Date: Fri, 10 Jan 2003 17:04:05 +0100
References: <Pine.GSO.4.40.0301100859180.4287-100000@pollux.cc.umanitoba.ca>

There is no reserve price possibility on German ebay.
I wonder if this is due to legal considerations or to different mentality.
(This is probably a chicken or egg question)

And what is BIN in this context?

Chris


>On Fri, 10 Jan 2003, Christer Almqvist wrote:
>
>>  I wish everybody would publish their reserve prices like on the list
>>  below; makes life much easier for the bidder. I never understood why
>>  one has a starting price lower than the reserve price: Perhaps
>>  somebody can explain the logic, if any, to me.
>
>There's at least two reasons: First, the insertion fee goes up based on
>how high your starting price is.  The lower you make it, the less you pay.
>Second, it's an auction, and so people can get carried away while bidding
>something up.  A high initial price tag is likely to scare away many
>buyers, while a low one encourages them to bid.
>
>Case in point: a few weeks ago, I auctioned off a Leica M3 with a 50mm
>'cron.  I set the starting bid to what I thought was a fair price, and not
>a single person bid.  After it ended, I set a starting price of $.01, made
>my BIN the same price as my original opening bid, and put a reserve about
>a hundred dollars less than that.  Sure enough, I received a ton of
>questions about the camera, the auction ended with 12 bids, and someone
>snagged it for the BIN price shortly before the auction ended (and got a
>great deal, too).  People are funny that way.
>
>chris
>
>--
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- -- 
Christer Almqvist
D 20255 Hamburg and / or
F 50590 Regnéville sur Mer

please look at my b+w pictures at:    http://www.almqvist.net/chris/new
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Replies: Reply from Jerry Lehrer <jerryleh@pacbell.net> (Re: [Leica] FS -- For those in need.)
In reply to: Message from Chris Brogden <umbrogde@cc.UManitoba.CA> (Re: [Leica] FS -- For those in need.)