IML: Ebay

[ViaJoaquin@xxxxxxx]

People seem to be missing the point of an auction because they seem to equate it with things like Christy's art auctions or the like. Let's not forget the real purpose of an auction is LIQUIDATION! What happens when a farm or factory goes belly up? There is an auction to turn whatever assets are left into cash by selling them quickly for what the market will bear. As Ebay has grown and more and more items show up at auction, prices go down due to competition. Welcome to economics 101! Ebay is an online garage sale and as a buyer I love it. As a matter of fact I'm really tired of people trying to sell their crap for chickenshit reserve prices and high starting bids that waste everybody's time. The simple fact is that things rarely go for what the owner thinks it's "worth", either because their expectations are way too high or because they spent more money on it than they can ever realistically expect to get back. It's all about psychology both on the part of the bidders as well as the seller. Dick B. knows how to do it right, first decide you really want to sell something. Second have faith in what you are selling. Third, don't force a potential buyer's hand by having a high starting bid or a reserve price! Finally, with regard to low prices ask yourself if you would be willing to bid top dollar on something as complex and fraught with potential problems as an automobile without so much as kicking the tires, let alone driving it, from a complete stranger? And if you have, was everything what you expected it to be? My $0.02, putting on my asbestos suite now!

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