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Post by captbob on Aug 6, 2016 14:46:04 GMT -5
Just a term I made up for what I'm gonna ask about here. Please follow along and opine.
Say there is an eBay auction listing for an item that ought to go for quite a decent amount of money.
There is no Reserve on the listing and the opening bid amount set by the seller is WAY below what the item should sell for.
There are MANY watchers with only a couple days left in a 7 day listing.
There are NO bids.
The seller has to be wondering if this widget will sell for the opening bid (thus losing a LOT of money = thousands) or the watchers will run it up closer to what the widget is worth.
Also must be thinking if ending the no bid listing early and relisting with a "safer" starting price might be a good idea.
Question(s):
Would the seller be less likely to end the listing early if there is a bid on it? With only one bid, seller will have no idea what amount that bid is for.
The first bid may start a bidding war - which I don't want! I'm looking to steal this thing. But, I also want to do what I can to keep the listing active. So...
anyone else here ever place bids (at a much lower amount that what you will end up bidding) just to try to keep the seller from ending the listing? I know a seller can cancel all bids and end any listing they choose. But, do you think a (any) bid helps keep the listing open?
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Post by jakesrocks on Aug 6, 2016 15:09:42 GMT -5
It has been my understanding that once that first bid is placed, the seller can't withdraw the item.
The exception is that if the seller states in his listing that the item is also listed locally, he can end the bidding if a local buyer pays his price.
Often a seller will place a reserve on an item. An opening bid will be marked "Reserve Not Met". If the reserve is not met by the end of bidding, The seller has the option of accepting the highest bid, or withdrawing & relisting the item. Bidders have no idea of what the reserve is until it has been met.
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Post by captbob on Aug 6, 2016 16:44:54 GMT -5
The seller may not be "supposed" to cancel, but I've seen it done often enough in a situation like this.
If it's a Reserve listing it says so ("Reserve Not Met") even if there are no bids doesn't it? - I believe so.
Also, have contacted the seller to ask questions (yesterday ~ 24+ hours ago) and haven't heard back. This would be the score of my 15+ years on eBay if I can get this at the opening bid!
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Mark K
Cave Dweller
Member since April 2012
Posts: 2,600
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Post by Mark K on Aug 6, 2016 16:53:54 GMT -5
A lot of the Chinese will cancel an auction after the auction is over if they don't like the winning bid. I see it all of the time. If they get booted, they just use one of their 500 other IDs.
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Post by captbob on Aug 6, 2016 17:28:16 GMT -5
All the seller has to say is the item was "lost, stolen or broken". Can't make them ship.
Still haven't decided if I should place a low "marker" bid.
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Post by jakesrocks on Aug 6, 2016 17:36:59 GMT -5
Nothing to loose by starting the bidding low. Any other bidders may be waiting for someone to start it out. You might get an idea of how much competition you have.
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Post by captbob on Aug 6, 2016 17:51:12 GMT -5
One more question.
This is a "local pickup only" listing. A few hours away from me.
Do I HAVE to pay with Paypal or can I just take cash with me to go get it? The fact that the seller hasn't answered my questions makes me leery on Paypal.
I know I can get it back through Paypal if it falls through, but the money is tied up for sometime that way. With cash, I can just not pay if it goes south.
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cabjunky
has rocks in the head
Regency Rose Plume
Member since November 2008
Posts: 683
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Post by cabjunky on Aug 6, 2016 17:51:48 GMT -5
Most of the bidding occurs in the final minute ( who am i kidding the last 5 seconds). I've been the only bidder on some items, and have been 1 of 15 placing a bid in the final seconds. I would place a bid at slightly above the asking price, and bid what I'm willing to pay for it in the final seconds. It will also tell you how much interest is in it, by placing the first bid. Some will increase their bid in dollar increments to see where your opening bid is just to see how serious you are. Good LUCK
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Post by captbob on Aug 6, 2016 18:23:23 GMT -5
Opening bid is $500 I placed a 525 bid and will go several times that higher. Will update in a couple days when it's over. Thanks
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Post by catmandewe on Aug 6, 2016 21:10:19 GMT -5
Lots of times I place a low bid just to get it into my bidding on folder and then wont even check it until the last day.
Good luck on it.
Tony
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Post by captbob on Aug 8, 2016 0:49:21 GMT -5
23 watchers
ends this afternoon
I'm the only bid
gonna be a long day!
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Deleted
Deleted Member
Member since January 1970
Posts: 0
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Post by Deleted on Aug 8, 2016 8:38:28 GMT -5
Waiting with bated breath.
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Post by captbob on Aug 8, 2016 8:51:24 GMT -5
okay... 5 hours to go update Still only bid. Time to share the auction and my dilemma / concerns. www.ebay.com/itm/302030016761?_trksid=p2055359.m1431.l2649&ssPageName=STRK%3AMEBIDX%3AITThis is a Diamond Pacific TR Series Slab Saw looks to be pretty much the top of the line in lapidary saws. some info; www.diamondpacific.net/Model_TR_Series_Slab_Saws.htmlLocal pick up only is working in my favor. My concern is that the seller did not respond to a few really simple questions that I asked a few days back. I even snuck my phone number in the Ask Seller a Question to contact me. 1. what diameter is the blade (actually an irrelevant question, but I was trying to establish communications) 2. does it run 3. would there be help on his end to load it into a pick up truck Seller doesn't seem to have any feedback for selling, just for buying. I Googled the seller's user ID and it is a business in the town given for the location. So, I called that business and the lady answering the phones said there was no rock saw there and couldn't seem to find anyone in the office selling one. My dilemma is how high do I want to go on this thing knowing very little about the saw and nothing at all about the seller? From the info page link above, if this is an 18" saw, it is over 7 grand new, not counting freight & crating. If it is a 24" saw it's over 9 grand plus the added freight etc This could be one heck of a deal IF it's legit. I don't need this saw, but if I can get it for a song, I can fix it up and resell. That's what I'm telling my wife anyway! IF I win, pay with Paypal or just take cash to pick up? So, while I have a top final second bid in mind, I'm fishing here for y'all's thoughts. keeping fingers crossed
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Post by captbob on Aug 8, 2016 9:27:12 GMT -5
Any solid guess on blade size here? Looks like my 24", but can't be sure as I don't have an 18" to compare it to.
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Post by jakesrocks on Aug 8, 2016 10:13:47 GMT -5
Good luck Bob. I'm following along with you on ebay, just to see what it sells for.
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Post by captbob on Aug 8, 2016 10:20:35 GMT -5
Thanks Don. You think it will be a snipe fest at the end or the Local Pick Up Only gonna limit that?
I'm finding a silver lining in his not answering my questions in that if he didn't answer my simple questions that he is probably also not answering those from folks asking about shipping the saw somewhere.
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Post by captbob on Aug 8, 2016 11:18:08 GMT -5
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Mark K
Cave Dweller
Member since April 2012
Posts: 2,600
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Post by Mark K on Aug 8, 2016 11:44:28 GMT -5
Funny. I just unwatched that last night. If it was closer I would have been bidding against you.
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Post by captbob on Aug 8, 2016 11:59:08 GMT -5
Glad you are not closer! What would you bid on it if you were?
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Tommy
Administrator
Member since January 2013
Posts: 12,684
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Post by Tommy on Aug 8, 2016 12:00:42 GMT -5
Any solid guess on blade size here? Looks like my 24", but can't be sure as I don't have an 18" to compare it to. Bob - based on the length of the vice opening on the TR-18 vs the TR-24 (7" vs. 17") and the segmented blade I would say with almost certainty that it's a 24" saw. If it were me I would quietly increase my $525 max bid by several hundred dollars - up to my maximum pain level. You will literally bury your foot in your own ass if someone gets it for $526. The sideways flat prongs of the power plug - is that indicative of 240V or is it a European plug? Maybe one of our motor guys can chime in.
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