What is your Reputation Worth?
Recently I have come across thread postings on a couple of different web forum websites that I am a member on that had topics and stories of sellers not going through with a transaction for something that the seller had listed up for auction on a website. The sellers had stated to the winning bidders, that they were not going to go through with a sale because they didn’t get a good enough winning bid for them to complete the transaction. These were what is called a “No-Reserve” auction. Now, in a “No-Reserve” auction a seller lists their product/item/etc. for sale and they are supposed to sell it to the winning bidder, no matter what the winning bid amount is. These type of auction listings are usually put up by the seller as a “No-Reserve” auction so that it will draw more attention to their auction listing, thus increasing the potential for more bidders on their auction listing and hopefully a higher price that they would have gotten with a “Reserve Price” auction. A “No-Reserve” auction draws more attention than an auction for a product/item/service that has a set reserve price (a minimum price of which a seller isREAD MORE !