Back on topic.
The world comes in many forms just like this auction and this amazing vehicle. You can own one today in this minimum bid auction. If you bid the minimum opening amount and comply with the auction terms, you get the car. There is no secret or disclosed $75,000 or $80,000 reserve price beyond the minimum opening bid which is set at $73,000. Some people will tell you it's a reserve. Some people will try to force the wrong idea about someone else's car sale for no reason. They will scream and shout at you and tell you to only see the world through their eyes or else. They will call you names and tell you repeatedly how dumb you are even though they are completely and utterly wrong. Just because they feel they are right they will try to make you believe in their narrow and dogmatic incorrect view.
I'm just trying to sell a beautiful car. See the closed / sold listings in ebay. The price is below the most recent sales for 2016 75D vehicles on ebay, and the miles are lower than most too. It is below the fair price on car gurus and below the KBB. I hope the car sells and that the new owner enjoys the result of this auction with an opening bid requirement but no reserve requirement. Some people will try to force you to say this simple and friendly posting about a car for sale is something else, something nefarious, but I never claimed this was an absolute auction. A minimum opening bid is set because I can get almost the same amount selling it to a dealer, having them mark it up, and they resell it to you for more.
Again, the minimum opening bid for this auction with no reserve is $73,000. You can learn more about auctions at any auction site or from an auction house but do not sign up for Mr. Brown's class on Auctions. Reusing toilet paper would be a better way not to waste money and time.
From:
Glossary of Auction Terms – Furlo Auction Service LLC
Auction With Reserve
An auction in which the seller or his agent reserves the right to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the seller reserves the right to accept or decline any bid within a specified time.
Absolute Auction
An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known as an auction without reserve.
Minimum Bid Auction
An auction in which the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure and advertisements and is announced at the auctions.
Minimum Opening Bid
The lowest acceptable amount at which the bidding must commence.
From:
Reserve Price
What is a Reserve Price?
A reserve price, common to auctions, is the minimum amount that a seller will accept as the winning bid. Alternatively, it is less commonly known as the highest price a buyer is willing to pay for a good or service. The reserve price prevents a bidder who offers a price lower than what the owner will accept from winning the auction. The point at which the buyer and seller are no longer
willing to negotiate is the walk away point. The auction's starting price tends to start lower than the reserve price to encourage bidding.
Understanding Reserve Price
Reserve prices are intended to protect the owner of an auctioned item from an unfavorable outcome. On sites like eBay, the reserve price is hidden, and until the reserve is met, the system will show "Reserve Not Met". Auction
bidders dislike reserve prices because they reduce the possibility of winning the auction at a bargain price and because they create uncertainty as to the minimum price that must be paid to win the auction.
Example of a Reserve Price
For example, an Ohio auction house has scheduled an auction to liquidate the equipment from a bankrupt manufacturing firm. One item on auction is a stamping press used to shape sheets of steel into automotive body panels. The auction firm sets a reserve price of $250,000 based on the recommendation of the bankruptcy trustee but opens the bidding at $100,000. After several bidders bring the price to $175,000, a firm that once competed with the bankrupt parts maker bids $200,000 for the press. No one else offers a higher bid, and the auctioneer removes the press from the auction because the reserve price is unmet.
From:
Reserve Prices and Starting Bids
When you post an auction listing, you can set a Starting Bid and/or a Reserve Price.
A Starting Bid is the least amount a bidder is allowed to bid in an auction, and is the price at which the bidding starts. If an auction has a Starting Bid and no Reserve Price, the high bidder on the item will win the item when the listing ends. Every auction has a Starting Bid, even if the Starting Bid is $.01.
A
Reserve Price is the least amount you are willing to sell the item for. Bidders are not able to see your Reserve Price. A bidder can place a bid that is lower than the Reserve Price, but the item will not be sold until the bidding meets or exceeds the Reserve Price.
Reserve Price auctions are often unpopular with bidders because the Reserve Price is hidden, and they must bid until they meet or exceed this price. We recommend you set your Starting Bid to the least amount you will sell the item for, and let the bidding begin at that price. When priced fairly, the item will probably sell for a higher price than your Starting Bid.
From:
What is a Reserve Auction or Minimum bid Auction
Stated Reserve:
Some auctions have a Reserve Price. A Reserve Price is a hidden minimum price that the seller is willing to accept for an item. In a Reserve Price auction, the seller is only obligated to sell the item once the bid amount meets or exceeds the Reserve Price. A seller can lower, but cannot raise, the Reserve Price. A screening for all sellers is completed prior to listing property, therefore there is a high motivation to sell. Most sellers have a high desire to sell, selling with reserve gives some security and the possibility of multiple offers is abundant.
Minimum Bid:
Similar to stated reserve, however the seller has agreed to sell the property at the minimum bid advertised or to the highest bid received in valid format after the auction has started. Minimum bids may be much lower than previously listed prices and show that the seller has a high motivation to sell.
Opening Bid:
This is not to be confused with any of the above. An opening bid is sometimes asked for by the Auctioneer. Many times you may see published “Opening Bid,” this is just a suggestion. A property may be valued at 100,000 dollars, however the opening bid suggested may be 10,000. This may be used as a starting point but in no way does it require the property to be sold at the opening bid amount. You may see language like “opening bid 10,000 subject to seller confirmation”
