Quote:
Originally Posted by BroncoHauler
I never quite understand why people start an auction at a lower price than their reserve.
Herb
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^^ +1 for this sentiment!! Agree agree....mostly.
While I'm sure many professional auctioneers will say that there's some amount of value in starting bidding artificially low, in order to "make a lot of people feel able to be part of the bidding action," generate interest in "finding the reserve," and create a "hot auction" where people observe a lot of bids/apparent interest.....
And of course you lend the early bidders the impression that the reserve might possibly be low, so there's the lure to many buyers/bidders at the beginning of the auction that they might possibly "take it home for a steal." Again, you're building the emotional connection, "hooking" a lot of bidders, and ramping up the bid count/interest in the auction. Carefully building towards a hopeful potential huge, final bidding bonfire....by starting out really small, with lots of harmless small-bid kindling. Stoke it properly.
....but an auction like **this one** where the specified starting bid is already a pretty significant value ($35k) and still hasn't hit reserve is seemingly guaranteed to turn off the majority of potential bidders. Nobody is going to throw their hat in the ring to start this auction rolling unless they're prepared to chase a reserve price that likely won't be a steal by any means. It's like trying to start a campfire by trying to first light a 12-inch-diameter log with a match. So yeah....I don't see/understand what kind of winning auction sales formula they think they're applying here either.
All that said --- IMHO.....if this rig had a V10 instead of the 5.4, it would be worth at least a *little* price chasing!
That cherry-wood interior build is indeed beautiful. Anyone can easily picture a stunning overall rig build lurking here, once those fiberglass boards were to be removed and a quality 4WD conversion / Aluminess stuff were to be applied.
Thirsty
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