Quote:
Originally Posted by Kotton King
Rather then set a hidden reserve, why not just start the auction at that price? I realize that it might discourage bidders from bidding if the initial price is sky high, but they'll probably loose bidders because of this use of a hidden reserve (unknown until now), because they didn't disclose it.
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This is actually appears to be a "double hidden reserve": Not only was the amount of the reserve hidden (which is the traditional meaning of "hidden reserve") but the fact that there was a reserve at all also seems to have been hidden.