Modifying Reserve Prices after bids have been placed

[GameGavel]

Hey All,

Scenario. I had a member who was selling a few items where the reserve prices were't quite met, but he wanted to go ahead and sell to the highest bidder anyway. He asked me if he could lower his Reserve Price to the current high bid amount or remove the reserve entirely since he was happy where the current high bids were (reserve price fee of $.50 would still have been charged though since they used the reserve in the first place).

I thought about this and figured it would be ok. As before he couldn't do it and the items could have went unsold. So I have changed the system so sellers can lower or remove the Reserve Amount if they want - in a live auction even after bids have been placed. That way they can still run the sale through the system (as opposed to ending the auction early and then emailing the high bidder directly to do the deal outside the system) and invoice it/leave feedback etc.

Thoughts ?

[pats1717]

So long as they cant raise the reserve I think it is fine!

Scott

[oldgames]

Not sure. What if I place a bid on Auction A and don't meet the reserve. I find the item in Auction B from another seller and place a bid. Then the first seller lowers the reserve on Auction A and I'm now buying 2 when I only want 1.

[brucebidder]

Not sure. What if I place a bid on Auction A and don't meet the reserve. I find the item in Auction B from another seller and place a bid. Then the first seller lowers the reserve on Auction A and I'm now buying 2 when I only want 1.


I agree here....

[GameGavel]

Let's vote on it here. I can't do a poll since I already started the thread. So just a simple yes or no will suffice. I will run it through Sunday and then make a final decision based on majority.

[videogamedomain]

yes. We should be able to adjust them. If Daves scenario ever happens the seller will need to understand that the buyer moved on and not expect them to pay.

[rick63]

i vote Yes. (IF you can't raise the reserve higher!)

it should not be too much of a problem now, but in the future you may have to do away with it, once this site grows too large.

Rick

[JestersChef83]

lowering or removing is fine by me.

it'd be nice if there was some way to notify the bidders if a seller does modify the reserve tho, and possibly provide those bidders with an opt out if need be in scenarios like dave's...prolly not possible w/o new development work, but just thought i'd throw it out there.

[oldgames]

I'm probably in the minority, but I vote No.

I think it's just borrowing trouble. If the item doesn't sell, just relist with a lower reserve. I can't see putting buyers in the position of winning something they didn't think they were going to win.

Sure, if the seller communicates and gives them the option to pass it might be o.k., but what happens when the seller just invoices. It only takes one bad experience to lose a member and when they go, they'll tell all their friends how someone tried to hook them into buying something they had written off. Justified or not, it could give CTCW a black eye. I don't see the value to risking it. Just relist it and if you want, email the bidders and let them know you lowered the reserve on the new listing.

[gdement]

Lowering and removing the reserve is fine,
however, if this is done,
then I think the system should be very clear that the old leading bidder is not classified as a "winner", or obligated to buy anything, unless they resubmit their bid or take some other appropriate action to confirm they still want it.

If the bidder wasn't winning anything at the time they bid, they shouldn't have any unexpected obligations stemming from it later.

This rule should be built in to the system, it shouldn't be dependent on the seller's sense of fairness.

It's really the same situation as when you get outbid by a deadbeat. Seller then offers it to the 2nd place bidder, but naturally that person isn't obligated to accept the offer.

[GameGavel]

Good points you brought up. I think I will be keeping it this way for the time being and will do what you have mentioned. It may take me a couple weeks as my developer is busy working on another big site.