carmudgeons.com - View Single Post - The BaT thread for the cars we won't buy, but kinda wish we would

JST · 08-08-2019, 05:21 PM

I'm interested in the psychology of the "no reserve" auction.

The seller of that 981 GTS bemoaned getting a better offer wholesale the week before--it seems odd to me that on a car like that you wouldn't make your reserve a couple of grand higher than the wholesale.

I assume "no reserve" auctions are intended to drive more participation, but that seems like a pretty big bet to make.

EDIT: In David's case, that plus a great car plus great presentation seem to be bringing strong money out early. $18K already!

08-08-2019, 05:21 PM	#2319
JST 195 Join Date: Oct 2003 Posts: 24,614	I'm interested in the psychology of the "no reserve" auction. The seller of that 981 GTS bemoaned getting a better offer wholesale the week before--it seems odd to me that on a car like that you wouldn't make your reserve a couple of grand higher than the wholesale. I assume "no reserve" auctions are intended to drive more participation, but that seems like a pretty big bet to make. EDIT: In David's case, that plus a great car plus great presentation seem to be bringing strong money out early. $18K already! Last edited by JST; 08-08-2019 at 05:39 PM.