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Chatting and General Stuff
General Discussion
No reserve auctions, am I missing something?
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<blockquote data-quote="340Wby-4-everything" data-source="post: 2235937" data-attributes="member: 47425"><p>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)</p></blockquote><p></p>
[QUOTE="340Wby-4-everything, post: 2235937, member: 47425"] 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) [/QUOTE]
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Chatting and General Stuff
General Discussion
No reserve auctions, am I missing something?
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