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The reserve price on E-Bay is basically the LEAST you will
accept. The reason people don't want to let their reserve price be known
is that they may get more as bidding may pass the reserve price, but often they
don't know by how much. I got my 1965 Crown on E-Bay that way. I had
set a limit that was below the reserve and no one outbid me. During the
last minute of the auction, I put in two more bids that I hoped would reach the
reserve price, but, also be an amount I was willing to pay. Luckily, I hit
both.
Also, sometimes, a reserve price is set, but the seller is actually willing
to take a little less. As you said, they don't want to sell it for $37.00,
but, may take less than $5,000.00, although that's what they've set the reserve
at. You may have bid up to $4,800.00 with a set reserve at $5,000.00, but
the seller may be willing to take $4,500.00, and, if you're the highest bidder,
accept it. The reserve mainly says that they are not obligated to sell and
you are not obligated to buy until the reserve is reached.
I have seen some sellers put the reserve right in their ad, but not too
many.
I hope this helps,
Timothy Callaway
1965 Crown 4-door See what's free at AOL.com. |
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