Thread: Grim Reaper reserve price

Dubl Duck Lifetime "Grim Reaper" 5/8"Current price:$305.00
End time:Jan-12-10 18:47:20 PSTAdd to watch list | See similar items

In my opinion, this is a good one to illustrate how NOT to sell a razor. Now I'm sure these "Grim Reapers" are rare, and there's people out there willing to spend mad cash on buying one, but here's an auction where the price has already gone up to $305, and yet it indicates that the seller's reserve price STILL HAS NOT BEEN MET! So what about the 5 people who bid this thing up from $100? They just wasted their time and bidding, and still the seller wants others to come in and bid even more.

And I don't even have a problem with setting a minimum bid for a valuable razor. If you know you aren't going to sell the razor for less than $400, then start the bidding at $400. If someone wants it, great. If not, then you get to own it or you can move the price down to something more realistic. But this kind of silliness just annoys buyers, or at least in my view it does.

No offense to Grim Reaper owners or eBay sellers or anyone else who might disagree, and for the record, I did not bid on this razor. If there's some reason for making razor buyers go through this process just to discover a seller's hidden reserve price, then let me know and maybe I would change my mind. But from where I sit, it still seems like gamesmanship and a waste of your buyers' time.

There is a debate about how to approach that from a seller's point of view. I tend to list according to your philosophy bur a friend of mine, who is an avid ebay seller, lists with a low starting bid and a high reserve.

His contention is that the low starting bid will get more action and the item will be on the potential buyer's 'my ebay' for him to be tempted by for as long as it lasts. Many of those bidders would probably be ignoring it if the reaper had been listed with the reserve as the starting bid.

As it is the bidders may become obsessed with it and have to have it no matter the cost. Even better for the seller if more than one bidder takes that approach. If it was ignored from the git- go it would be out of sight, out of mind.

It is a nice reaper. Slightly nicer than the one I paid $100 for but not much. I'm thinking the reserve must be $500.00. I wonder if it will go that high ?

First of all, since this is my razor, let me tell you that there are a grand total of 5 bidders on this auction, not 20 or so. Also, reserves can be lowered at the sellers whim. And to tell you the truth, i don't think I even thought about the starting price when I listed it. Finally, it's MY razor; don't buy it if you don't want it. I'll put it back in a box for a year and relist it, maybe. I do this for fun and to rotate my hobby hardware, and yes, I AM looking for a frenzied buyer who needs a reaper. I've been on that end too; it's part of the fun of eBay.

From eBay.com

Why have a reserve price? Many sellers have found that too high a starting price discourages interest in their item, while an attractively low starting price makes them vulnerable to selling at an unsatisfactorily low price. A reserve price helps with this.

Oh, and Jimmy, you want to double your investment? I'll give you 200.00 for yours.

All fun, this razor stuff.

No offense intended, Korndog, and of course you have a very nice razor for sale.

One other way to look at it, however, is that by listing the minimum price up front, you might actually attract MORE attention, as some bidders might say, "dang, I'd pay that for that nice Grim Reaper; Imma gonna bid on that thing." And it is a nice Grim Reaper, so I hope you get your minimum price, whatever it is.

For what it is worth, the standard eBay advice about keeping the reserve price hidden only really applies when you have a bunch of less experienced bidders who raise and reraise the price in response to each other over the course of the bidding time. However, in my experience, many bidders (and most who are purchasing more expensive items on eBay) try to use some sort of bidding or sniping service that will place bids in the last 5 or 10 seconds of an auction for strategic advantage. If you are expecting that sort of bidder, then it actually makes sense as a seller to reveal your minimum price up front, because it then gives the last second bidders reason to increase the amount of their last second bids, which by definition cannot be increased.

Originally Posted by JeffE

No offense intended, Korndog, and of course you have a very nice razor for sale.


However, in my experience, many bidders (and most who are purchasing more expensive items on eBay) try to use some sort of bidding or sniping service that will place bids in the last 5 or 10 seconds of an auction for strategic advantage. If you are expecting that sort of bidder, then it actually makes sense as a seller to reveal your minimum price up front, because it then gives the last second bidders reason to increase the amount of their last second bids, which by definition cannot be increased.

This also promotes buyer collusion. There is almost no situation in life that I can think of that doesn't give advantage to a person who has more information. That's my story and I am sticking to it.

No offense taken.

I think having razor in the title may have added a few more potential buyers

Originally Posted by Korndog

Oh, and Jimmy, you want to double your investment? I'll give you 200.00 for yours.

All fun, this razor stuff.

Actually I am one of the bidders Not one who is going to follow through but one nonetheless. I agree that if you want to get a certain value out of an item and you list at a low starting bid you'd better put a reserve on it. Otherwise it is shooting dice. I got lucky on my $100 Reaper. Taking another look at yours I figured a $500.00 reserve because if I had yours that is what I would want for it.

Originally Posted by avatar1999

I think having razor in the title may have added a few more potential buyers

You think? i tried to correct that, but there was a bid so fast I couldn't. I added it to the body, but not sure if that hits on search.

Taking another look at yours I figured a $500.00 reserve because if I had yours that is what I would want for it.

Yes, I have a high reserve on it, for sure. Like I said earlier, someone out there might just gotta have one now. It's such a desirable piece in my opinion, that I just don't want to let it go unless it's to someone who is putting the value on fine razors that I believe should be in place. I love DD razors and my Wonderedge is second only to my Pierre Thiers old forged as best shavers, two razors I will not likely sell.

I have sold many razors with a reserve (in few cases for times above the reserve), and some without. If an item doesn't sell I still would like to know what is the spot apprisal of ebay. Plus I can always put in a second chance offer if I change my mind.

My feeling about the argument of bidders who don't meet the reserve wasting their time is pretty much summed by this:

Korn, I see that many here agree with your approach, so I'm going to think more about this issue myself, and I hope that mentioning your auction here brings some more attention to your fine razor. Good luck with the sale!!