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Question about "TradeMe" bidding

 
 
Craig
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      01-27-2004
Some sellers claim their auction has "no reserve" and is accompanied
by the "yellow flag" promoting this. However, they often also have a
minimum starting bid and if you try to bid less than the minimum it
won't accept your bid.

So, my question is: how can a bidder claim to have no reserve in these
circumstances?

I tried looking for an answer on the TradeMe help site but after
searching about 20 pages in as many minutes had no luck. Why they
don't roll all their help topics into just one page is beyond me as
most of the help topics are only three or four lines of text, it's a
tortuous nightmare to navigate their cumbersome help site, having to
click a new link each time.
 
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T.N.O. - Dave.net.nz
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      01-27-2004
Craig wrote:
> Some sellers claim their auction has "no reserve" and is accompanied
> by the "yellow flag" promoting this. However, they often also have a
> minimum starting bid and if you try to bid less than the minimum it
> won't accept your bid.
> So, my question is: how can a bidder claim to have no reserve in these
> circumstances?


There is no "reserve" just a "minimum bid"... it's all in the terminology.

--
Dave Hall
http://Dave.net.nz
We have Hangman, Pacman, and Space Invaders

 
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Bryan Souster
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      01-27-2004
Craig wrote:
> Some sellers claim their auction has "no reserve" and is accompanied
> by the "yellow flag" promoting this. However, they often also have a
> minimum starting bid and if you try to bid less than the minimum it
> won't accept your bid.
>
> So, my question is: how can a bidder claim to have no reserve in these
> circumstances?

[snip]

The difference is small but significant.

A 'reserve' is usually not published. Bidders bid with no certainly that
any bidder will succeed as no-one knows during the auction if the reserve
has been met. In some auctions notification that the resrve has been
esceeded occurs when this occurs.

With a 'minimum bid' auction every bidder is in with a chance - the item
will sell if a bid is accepted.

HTH,

--
Bryan Souster
For acronyms (IIRC, TIA etc) visit www.acronymfinder.com for the meanings.
For an explanation of emoticoms (, etc) visit www.emoticon.com..


 
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