Ebay terms

It means the bidding is over, but the highest bidder didn't meet the minimum reserve set by the buyer. So the sale doesn't happen (although the seller can offer a "second chance" to the highest bidder).
 
Just curious, since there doesn't appear to be a lot there and $1601 wasn't enough... what does this normally sell for?
 
Just an educated guess, but I think new units would be around $5k or so. Maybe more.

I've bought stuff from Wentworth before and they seem to be a good company.
 
ausrere said:
It means the bidding is over, but the highest bidder didn't meet the minimum reserve set by the buyer. So the sale doesn't happen (although the seller can offer a "second chance" to the highest bidder).
Click to expand...

Huh imagine that. -so the words, "This item sold for $X.XX" must mean something other than what I have been taught. (It actually did not sell for $X.XX)
Thanks, still learning about the vagaries of the english language it seems.
 
Let'sgoflying! said:
Huh imagine that. -so the words, "This item sold for $X.XX" must mean something other than what I have been taught. (It actually did not sell for $X.XX)
Thanks, still learning about the vagaries of the english language it seems.
Click to expand...

Yeah..I know. Just think of it as the item sold back to the consignor (or a buy back item as it's called). Some auctions allow the owner to bid on their own item to protect it, usually for a buy back fee. Ebay just does it for the owner from the get-go by using the reserve function.

Live auctions are just as confusing. The one that always confused me is a "Whole Bid", where you can be the high bidder on an item with no reserve and still not win it. :dunno:

It's where a "set" such as a bedroom or dining room set that has more than one piece is auctioned off twice. They'll auction off each individual piece first, then put the whole thing together and rebid it as one multi-piece item. Which ever way gets the consignor the highest over all price wins. So, you could be winning bidder at $100.00 for a bed, and someone else bids and wins for 50.00 each for each night stand. Then they put the whole thing together and sell it as a set. A different bidder bids 225.00 for the whole set. They win it, and you walk away with nothing.

Makes for some interesting conversations with first time bidders at the check out counter. :yes:
 
What it usually says is "Bidding has ended for this item: Current Bid: $XX.XX Reserve Not Met." (That's what it says now, actually.) If it said "Sold," I think that was a glitch.

Lisa has it right, though: eBay accomplishes the buy-back function via the Reserve Price. The Reserve Price is the lowest price at which the seller is willing to sell the item and is specified when the seller lists the item. If the reserve is not met, the seller is not obligated to sell the item to the highest bidder, as would be the case if no Reserve was specified.

The seller can reduce or eliminate the Reserve Price once bidding starts, but this can cause some problems with regards to proxy bids and other more intricate details of how eBay works. The seller can also make "second chance" offers if the item doesn't sell (or if payment is not received). There are rules for how these offers may be made, as well.

I'll tell you what: The eBay Consultant Certification test was one of the harder exams I've taken in my life, and I've taken quite a few. There are many, many rules, most of which are very fair when you think them through. Many of the rules probably came about when someone abused the system (kind of like how many of the FAR's came into being, if you think about it).

But yeah, the rules can be a little hard to explain. Still, it's a great service. Just think how many more tons of stuff would be in landfills if eBay had never been created.

Rich
 
I never quite understood the reserve price. If there is a minimum amount that I want to sell for, I just put that as the first bid. No charge for it either.
 
Anymouse said:
I never quite understood the reserve price. If there is a minimum amount that I want to sell for, I just put that as the first bid. No charge for it either.
Click to expand...

Ah, you have much to learn about eBay, grasshopper.

Every item I sell on eBay, I start bidding at a dollar. That gets lots of people bidding, which means you'll snare a few with a competitive streak. At the end of the auction, it'll no longer be a good deal, but these folks keep running the bids up so they can WIN. You wouldn't believe what stuff will sell for using this method. Often, it's more than you can buy the item for at a retail store brand new.
 
flyingcheesehead said:
Ah, you have much to learn about eBay, grasshopper.

Every item I sell on eBay, I start bidding at a dollar. That gets lots of people bidding, which means you'll snare a few with a competitive streak.
Click to expand...

Commonly called a "bidder frenzy" or "bidding war". It's even worse sometimes during live auctions. My mother owns an auction house...she loves competitive bidders. :D
 
Anymouse said:
I never quite understood the reserve price. If there is a minimum amount that I want to sell for, I just put that as the first bid. No charge for it either.
Click to expand...
Ditto. But I think that some do it in the hopes that people will start bidding on things that are starting at zero in the hope to hook 'em and then have the buyer keep bidding until the reserve is met.
 
flyingcheesehead said:
Ah, you have much to learn about eBay, grasshopper.

Every item I sell on eBay, I start bidding at a dollar. That gets lots of people bidding, which means you'll snare a few with a competitive streak.
Click to expand...

Kent's absolutely 100% correct on this one... all of the "how to win at ebay" sites will tell you the same thing. Ever since I started doing this, I've cleaned house on the things I've sold... and yes, I was nervous listing some things at 99 cents with no reserve. Never yet been dissatisfied with the end result.

Be sure to check one of the listing calendars and list your items so the end at the end of the weekend (Sunday night), 7 day listing (need time for it to get discovered and develop a following/watch list)... you want people at home, relaxed, on the PC in the early evening to be able to maximize the number of folks that can be sitting at the computer bidding on YOUR item.
 
RJM62 said:
What it usually says is "Bidding has ended for this item: Current Bid: $XX.XX Reserve Not Met." (That's what it says now, actually.) If it said "Sold," I think that was a glitch.
Click to expand...

it lists the buyers ID: (and it also says what you saw, reserve not met.) These are from the page tonight Sep 6 1020pm
 

Attachments

  • untitled.JPG
    untitled.JPG
    98.2 KB · Views: 4
  • untitled2.JPG
    untitled2.JPG
    100.8 KB · Views: 4
flyingcheesehead said:
Ah, you have much to learn about eBay, grasshopper.

Every item I sell on eBay, I start bidding at a dollar. That gets lots of people bidding, which means you'll snare a few with a competitive streak. At the end of the auction, it'll no longer be a good deal, but these folks keep running the bids up so they can WIN. You wouldn't believe what stuff will sell for using this method. Often, it's more than you can buy the item for at a retail store brand new.
Click to expand...

ausrere said:
Commonly called a "bidder frenzy" or "bidding war". It's even worse sometimes during live auctions. My mother owns an auction house...she loves competitive bidders. :D
Click to expand...

smigaldi said:
Ditto. But I think that some do it in the hopes that people will start bidding on things that are starting at zero in the hope to hook 'em and then have the buyer keep bidding until the reserve is met.
Click to expand...

Guess I just don't sell all that much stuff on E-bay. :redface:
 
You must log in or register to reply here.
Back
Top