No reserve auctions, am I missing something?

[Just a hunter]

I go on GB looking at firearms that I am interested in and get excited because they say, "No Reserve". Then I click on the auction and there is a starting bid of $1,500 or something like that. Isn't that pretty much the reserve if you set a minimum starting bid?

I know it's a random thread and post, just wondering if I don't understand how auctions work

 

[340Wby-4-everything]

Very common in any auction of any kind. No one is going to sell you a Berlinetta Boxer Ferrari for $20. They may start the bidding at $100, but if the reserve ($400,000) is never met - eg. highest bidder is $392,000.00 , there is no sale. GB lets you seller set the start of bidding at the reserve (I know they say no reserve, but the $1500 is the reserve aka the least the seller will take for the item)

 

[Just a hunter]

I get it, I just take things too literal sometimes.

 

[jgal72]

I bought my farm at a no reserve auction. No reserve means no reserve. If they set a minimum then it isn't no reserve. They started the bidding on my property at $500k. I won the bidding at half that price.

 

[Mrvmax]

I don't sell a lot on Gunbroker but when I do I always do a no reserve, Penny start auction. I take a risk of it selling cheap but I've always done well. I agree with you, no reserve with a high starting bid is a reserve.

 

[Dave in WI]

Also, I believe there is an additional listing fee if you set a reserve. So placing setting a starting bid is the same as reserve w/o the fee.