mcv 16/180 up for auction in the US

azapa

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1,300
Jeepers. I've brewed a nice coffee and am sitting around for the finals. 1 hour to go. It looks impeccable. I have absolutely no relation to the auction, just a little voyerism.
 

Ewan

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6,757
The reserve price is usually secret, announced only at the end of an auction if it’s not met.
 

Wattie

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8,640
The reserve price is usually secret, announced only at the end of an auction if it’s not met.
Wouldn’t it stop a whole lot of wasted time then if it were clear? Serious bidders would know the deal and either stump up or move on.
 

Vampyrebat

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3,117
Wouldn’t it stop a whole lot of wasted time then if it were clear? Serious bidders would know the deal and either stump up or move on.
Yep...........I've always thought this. I think the 'reserve' should be the starting price, that way it either doesn't sell or the seller gets at least what he/she would accept for it!.........Simple!
 

Ewan

Member
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6,757
Auctions are often about momentum, and the thought of snagging a bargain. So start the price low, entice people in, and see where it goes.

The reserve is there as a safety net for the seller. Without that, the auctioneer wouldn’t have the stock to sell.