Questions About Reserves In Auctions

[raulus]

1. My understanding is that REA has a "hidden reserve" system, so you don't know what the reserve is, or even if there is a reserve. You find out when the auction is over that there was a reserve, and therefore sadly your big win doesn't count.

2. Some AHs disclose them earlier. Some wait until later. I suppose it's theoretically possible to start without one, and then to have a seller demand one part way into the auction, but I suspect that would be unusual.

3. I sure hope not. I typically stay away from items with a reserve. Simply because it almost always ends up being a big fat waste of my time, because the reserve is rarely met. And it's not because the item isn't worth the reserve. But just having the reserve tends to dissuade bidders from even trying. It's almost like a self-fulfilling prophecy. "Nobody bids there anymore: there's a bloody reserve."