Question about "TradeMe" bidding

Discussion in 'NZ Computing' started by Craig, Jan 27, 2004.

  1. Craig

    Craig Guest

    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.
     
    Craig, Jan 27, 2004
    #1
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  2. 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
     
    T.N.O. - Dave.net.nz, Jan 27, 2004
    #2
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  3. 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 :)-), :cool: etc) visit www.emoticon.com..
     
    Bryan Souster, Jan 27, 2004
    #3
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