Learned expensive but valuable lesson on ebay

[Dark Nemesis]

First off, I am fully aware this is my own damn fault

but I though I would post it for anyone who did not take the time to read all of the operating instructions on ebay.

There was a knife that I really wanted on the auction site with a starting bid of $50.00, which is not that bad. I decided to make a rather large max bid of $200.00 so I would not have to check back as often for a status. The daily reports are not so daily sometimes.

Most of the auctions I have been involved with did not have a "reserve" set. In these cases your bid will only go up if others bid against you.

However, if a "reserve" is set and your maximum bid is higher than the reserve your current bid automatically goes to what that person's reserve was

in this case it was $160.00

I kinda shot myself in the foot, since the auction probably would have never gone that high in the first place. I went back to read more on ebay, and sure enough it was stated on the first page, god I felt stupid.....

Just though I would post this for everyones information.

Dark Nemesis

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All the knives in the world go round and round, round and round, round and round...DAMN, one of them took my wallet !!!

 

[BarkinDog]

Yeah but if you didn't bid at least $160 you would never have a chance of getting the knife. If you were truely willing to spend $200 for the knife $160 is a bargain. Could be wrong but it sounds like you were engauged in what is know as "sport bidding" and it bit you in the ass. Oh well, live and learn.

 

[donovan]

BarkinDog's right. If you hadn't gone to $160 you wouldn't have met the reserve and wouldn't have got the knife.

So, how is it?

Jack

 

[Mercury]

The seller has the option to sell for under the reserve bid; Usually, and this may not be the case due to the nature of the piece in question, starting bib price is what the bidder is willing to accept anyway, the reserve is just what he THINKS it is worth. If the guy selling he knife has very little feedback, which means he is most likely a casual seller, he is more likely to simply re-auction the item if it desn't reach the reserve... But, if the seller has a load of items for bid on, he will usually just take he smaller cut of profit and devote his time on his other auctions. Thats' why I like to bid from he professional sellers. Just my two cents, do with them what you wish.

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Robert Joseph Ansbro

 

[Dark Nemesis]

You are all correct....and I am sure I will be thrilled to death when I get it.

Dark Nemesis

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All the knives in the world go round and round, round and round, round and round...DAMN, one of them took my wallet !!!