[geeks] Bah, humbug

[Charles Shannon Hendrix]

Mon, 02 Apr 2007 @ 12:58 -0700, Geoff Reed said:

> Quoting Charles Shannon Hendrix <shannon at widomaker.com>:
> 
> > Mon, 02 Apr 2007 @ 11:07 -0700, Geoff Reed said:
> > 
> > > what people are referring to as a "secret reserve" is the reserve
> > > option.  it is secret in the fact that until the reserve is met it is
> > > not shown to anyone but the auction creator.
> > 
> > Oh good grief... I thought they were talking about something truly
> > serious, like the bidder not knowing the reserve existed at all.
> > 
> > That *IS* happening on some antique auctions, and has people pretty
> > angry.
> -------
> 
> the ebay "secret reserve" controversy to me seems overblown and "Much ado about
> nothing" there have been reserve auctions for many years before eBay existed and

Yeah, I thought they were saying that ebay let a seller enter a reserve
without telling bidders at all.  *THAT* would suck much worse.

> will be for many years after I presume.  many of the local surplus property
> auctions at government facilities and at local colleges have some lots with a

Well, the problem with reserve pricing though, is very real.
Auctioneers like Sotheby's, Christies, and Barret Jackson use reserve
pricing to manipulate pricing of entire industries and product lines.

They have almost no legal control over them, and pretty much make their
own rules.  They rip off both sellers and buyers, and there is almost
nowhere else to go.

I'd call that a serious problem.

But, that's not ebay, and reserve pricing is not at all the only issue,
it is rather a combination of issues with the mega-auctioneers.

-- 
shannon           | Castles are sacked in war, Chieftains are scattered far, 
                  | Truth is a fixed star, Eileen aroon! 
                  |         -- Gerald Griffin