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Originally Posted by DaddyHalbucks
Yes, the tease is probably part of the reason to have an undisclosed reserve. To protect your assets as a "stop loss" is also important. To get people to bid freely without artificial barriers is yet another.
To answer your second part about fairness: fairness is in part determined by bidders having the same information, at least the material facts. So we try not to show favoritism. Maybe it is just a token gesture, but that's the way it is.
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There is no good reason for having an undisclosed reserve. If you r reserve is 20k then start the bids at 20k. What good are the 50.00 bids if you have a high reserve?
eBay buyers are going to spend within 5-10% of their comfortable limit anyway. If you have a "secret reserve" price I promise you the 305.00 bidder is not suddenly going to enter a 25k bid.
Not starting the bid at your reserve price simply makes no sense to me.