Buy/Sell Thread - RP and Min Bid Controversy

[crazypaladin]

Has anyone wonder in the buy/sell thread, it's common for the seller to encourage min bid at $XXX but stated his RP is $YYY (and YYY > XXX) and he would not sell if his RP is not met?

Then why this bullshit of even allowing people to bid below RP in the first place? And among all things, why do some buyers still fall for this and bid within the min bid requirement, knowing fully well that it is still below the RP and he/she won't secure the deal?

 

[Drudkh]

so what would you suggest? i see most ppl just follow these trend and i see this almost everywhere.

 

[crazypaladin]

You mean we have to follow herds' mentality? :sticktong

 

[Drudkh]

You mean we have to follow herds' mentality? :sticktong

well, its up to you. everyone has their own way to handling thing unless they find that not following the trend might not get their stuff to sell? just browse through the buy & sell forum, how many items are sold within a day upon put up for sale?

 

[Fizzy]

For me, RP is like to "Buy Now" Price. If someone bids at RP, I will sell it to him immediately. The "Please Bid from ..." Price allows for some room for negotiation.

 

[Parchiao]

I think that the concept of reserve price is clear i.e. the seller is only willing to negotiate if the price offerred is equal to or more than the reserve price. Unfortunately, there are a lot of people here who cannot understand english, rather choosing to interpret the meaning according to some unknown concept. :sticktong

 

[theITguy]

The RP and min bid is there for some reason. If you are a buyer/seller you will know how this world works. RP is an indication of the price the sellor is interested in selling. It provides all parties the rouhg estimate the price he/she have to pay in order to win the bid. The actual price the buyer may pay end of the day may be more or less than the RP, depending on the demand overall.

 

[espn]

RP - Reserve Price, sellers are NOT oblidged to sell if prices are BELOW RP. However, this is solely UP to the discretion of the seller. For me, if let's say I'm selling a D2X and RP is $4500. nightwolf75 bids $3500 and wants to join Nikon, I can sell at $3500 to him or I can REFUSE to sell it to him at $3500.

Min Bid - Minimum Bid, the basic bid to start bidding which the seller feels comfortable letting it go at the minimum but still subject to his RP. Min bid will be lower than RP to encourage bidding, it's also a phsychological effect. If you start a min bid at $1, it would rise faster than having a min bid of RP-100 or RP.

BNP - Buy Now Price, the price which once hits, the seller is oblidged to let go at, personally I've never taken up a better offer once my BNP is hit, I always let it go to the first person that hits the BNP for it.

Thus RP != won't sell, it's willing OR not willing to sell.

 

[user111]

the answer is very simple. u simply sell to who u feel like selling to. end of story.

 

[varf]

the answer is very simple. u simply sell to who u feel like selling to. end of story.

quite true :thumbsup:

 

[Stoned]

Basically, the reason why people are allowed to bid below the RP even though the seller has no intention to sell at a price lower than the RP is mainly to generate interest in the item, which does help to sell it to some extent

 

[reachme2003]

In the world of auction, the term 'Reserve Price' means the minimum price at which the seller will sell. So, if the highest bidded price is below the Reseve Price, the seller will not sell.

In CS Buy/Sell, the term 'Reserve Price' can mean 'anything goes'.