Originally posted by jml1952
Seven people have bid on this, starting at $5,000 and reaching $8,100 and still haven't reached the reserve price!
So why bother starting an auction at a low price that you won't accept?
Because eBay bidders follow certain traits. If you wanted $10 and asked for $10, you will get fewer bids than starting at $1 and letting people bid it up. The reserve allows the seller to make sure that there is a minimum that he has to sell it for. Silly, but it works.
I know that Ebay claims that bids are binding, but they aren't if you haven't hit the reserve. I think that people are just playing around, i.e., it's amusing to bid $8000 for an item when you don't have to buy it.
If you want to play around, you would not know if your bid was the one that pushed it over the reserve though. To really play around, bid $100,000 then it will hit the reserve, and you will know what it is. Then retract the bid as a typo error or something. Ebay frowns on that, but it's done to figure out the reserve.
I have no experience with Ebay, but I doubt that they can force you to pay for an item even if you participate in and win an auction. Even in the real world, I've seen people win auctions then fail to purchase the item (no doubt, the WTF did we just do reaction).
Right. Ebay can only remove your user name from active membership. After 3 no-pays I think. The seller can come after you, but it's very doubtful that they would.
I spent way too much time selling on ebay at one time.
#somethingwickedthiswaycomes... the new Origin Noble M and the Origin 7
Zenos E10S for Sale! www.zenosforsale.com
There are some very shady dealers in the Lotus business.
2005 Lotus Elise, 1993 MR2, 1995 MR2, 125cc Shifter Kart, Toniq (in build), 2018 Origin 7 (waiting), 2018 Origin Noble M (waiting)