eBay: Giant Tiki from Trader Vic's, Dallas TX.? - Tiki Marketplace

K Kono Member Orlando Joined: Oct 08, 2003 Posts: 1266	K Kono Posted posted on Wed, Sep 28, 2005 5:34 PM On 2005-09-28 14:52, Formikahini wrote: And can any eBay pros explain to me how he won with only one bid? The opening price was $600.00, and the winner won with no other bidders to drive the price up to the $1200 reserve price. I thought stuff sat unbought if no one bid against you (and you didn't reach the reserve). 'Least, that's what I'd always seen before. $1200 was the reserve and he bid at least that or more. The reserve is like a hidden bidder. If you don't match it then you stay at the low end of the bid, the starting price. If you match the reserve then the reserve value becomes your bid, even if you bid more. So the starting bid was $650, the reserve was set at $1200 and Paul's bid was somewhere between $1200 and a trillion dollars. No one bid against him so he got it for the reserve price.

On 2005-09-28 14:52, Formikahini wrote:
And can any eBay pros explain to me how he won with only one bid? The opening price was $600.00, and the winner won with no other bidders to drive the price up to the $1200 reserve price. I thought stuff sat unbought if no one bid against you (and you didn't reach the reserve). 'Least, that's what I'd always seen before.

$1200 was the reserve and he bid at least that or more. The reserve is like a hidden bidder. If you don't match it then you stay at the low end of the bid, the starting price. If you match the reserve then the reserve value becomes your bid, even if you bid more. So the starting bid was $650, the reserve was set at $1200 and Paul's bid was somewhere between $1200 and a trillion dollars. No one bid against him so he got it for the reserve price.

Post #189463 by Kono on Wed, Sep 28, 2005 5:34 PM