[78-L] ePoo Reserve Prices (was Q.R.S. discs)

[Erwin Kluwer]

A low starting bid could mean that more people jumping in and start to be
competitive ...and a higher price could be realised....

On Sun, Jun 19, 2011 at 4:31 PM, agp <agp2176 at verizon.net> wrote:

> I have never quite understood the purpose of reserve price. If that
> is the minimum you are willing to sell for, the make it your minimum
> bid starting price. Past that I see it as a time waster.
>
> Here's a case in point: A recent listing of the Canadian pressing
> (and rare as all hell) Decca 45 of the Beatles' My Bonnie (Decca
> 31382) was listed with a starting bid of 99 cents, with a reserve. By
> end of auction time it went to $4,500. It didn't sell, because even
> at this price, the reserve was not met. The record was then relisted
> with a minimum bid of $14,500 (ten grand more). Generally speaking,
> this item has sold for about $5,000 in the past. So what was the
> point of the reserve, in particular if it was as high as 14K.
>
> There was a similar go round with a rock'n'roll 78 that generally
> commands a price of around $50. Highest  bid that came in was about
> $45. It never sold, and the guy still re-listed it and still used a
> reserve, as it didn't sell the second time around either
>
> T
>
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