Quote:
Originally Posted by Bill Murphy
Sorry, I won't share the seller's name, but the auctions that work the way I describe are available in the "smart search" function under "penny auctions". That weeds out a lot of bad sellers. I'm not sure if all of the penny auctions are no reserve, but every one I have looked at were such. Good luck.
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Bill is spot on with this one. Same thing on Gunbroker. I'd say 95% of what is listed with reserve doesn't even get a bid. I can show you reserve auctions that have been on there for over a year. Dealer set them up with a automatic relist and they never look at them unless someone hits the reserve. Same dealers don't respond to questions for the most part. The dead give away, is the first time an auction runs with a reserve. Interested folks will bid up to where they think the value is. If it doesn't sell then, more then likely its going to sit there a long time, because the second time around no one will bid. Don't know how dealers can hold onto inventory that doesn't move in this environment. Seems like even if they lose a bit, they will be better by moving something then sitting on it for ever. Guess I'm not a good businessman.
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