For Sale 1977 Newport Coupe in Alberta

[azblackhemi]

I'm not sure I made my last point clear so let me try again. A car on e-bay say is worth in my mind $5000. I really want this car so I bid to win and submit a $6000 maximum bid. At the end of the auction the reserve is met and the next highest bidder has bid $4000. I win the auction and buy the car for $4050. The same scenario on BAT if I want to make sure I get the car and I bid $6000 at the beginning and even if nobody bids close to my bid I still have to pay $6000 for the car. This is why to me it seems like a win win for the seller not the buyer.

 

[300rag]

I know what you are getting at, but why would you want to put your max bid in at the beginning instead of waiting until the end and bidding $4025? Once you have made your bid (no matter the amount) on BaT, you are the high bid just like a live auction. Now bidder #2 will have to look at your bid and decide if he wants to continue or not. Then it's not the bonus for the seller.

 

[azblackhemi]

I know what you are getting at, but why would you want to put your max bid in at the beginning instead of waiting until the end and bidding $4025? Once you have made your bid (no matter the amount) on BaT, you are the high bid just like a live auction. Now bidder #2 will have to look at your bid and decide if he wants to continue or not. Then it's not the bonus for the seller.

Quite often I'll put a max bid in ahead of time because I don't have the time to be watching an auction and having to remember when it is ending. I will put in my max bid and if I win it great and if I get outbid fine it went for more than I'd pay for it anyway. Also with BAT even if I did wait for the end of the auction he doesn't have to sell it to me so I've wasted my time.

 

[cantflip]

Quite often I'll put a max bid in ahead of time because I don't have the time to be watching an auction and having to remember when it is ending. I will put in my max bid and if I win it great and if I get outbid fine it went for more than I'd pay for it anyway. Also with BAT even if I did wait for the end of the auction he doesn't have to sell it to me so I've wasted my time.

Agreed, but I have had a couple times on EB that the seller back out too... I did understand that the price was too low, but I'm cheap... thats why I won. I cant take any of EB "assurances" very seriously.

 

[commando1]

I have to go in min. increments.
Too many Next Day saying WTF was I thinking bids.
You pray somebody bids higher and someone usually does.
You're free. No harm, no foul.

 

[patrick66]

I'm not sure I made my last point clear so let me try again. A car on e-bay say is worth in my mind $5000. I really want this car so I bid to win and submit a $6000 maximum bid. At the end of the auction the reserve is met and the next highest bidder has bid $4000. I win the auction and buy the car for $4050. The same scenario on BAT if I want to make sure I get the car and I bid $6000 at the beginning and even if nobody bids close to my bid I still have to pay $6000 for the car. This is why to me it seems like a win win for the seller not the buyer.

Auctions work for the seller, always. The seller hires the auction company and aspires to get the highest bid possible. This way, you simply bid what you feel a good start point is, or if you really need it, bid the highest you feel comfortable at. Most auctions don't start at "zero" anyway. All of the BaT ones do. Any live auction you go to will try to get the bidders starting at a high point, to which it nearly always goes down to a certain level to start, then heads right on up. The buyer benefits from a way which eliminates the sniper bids, costs far less than most auctions if you DO win, and keeps things honest, bidding-wise. No shills like on egay.

I think the BaT way is the way to go. If you look at the past auctions, very few have a "no-sale" result. Figure they have eight cars per period (x2/week), for 16 cars a week. BaT makes $4K a week, to run auctions! A great business model! Multiply that x52, and there is $220K they make, by just running a website. Let's assume 100% sales, and the average sale is $20,000. Sixteen vehicles times $20K is $320K/week. Multiply that by five percent and they get another $16K/week in buyer premiums. Times that by 52, and you have another $832K they make with this method. Brilliant! And the vast majority of participants are happy with the result. A million-dollar business. I wish my brain had come up with this first!

 

[commando1]

BaT makes $4K a week, to run auctions!

Ummmm.... hey Joey.