Quote:
Originally Posted by Willey
OH YEAH - what Camaroscotty said-
4) The auction listing should have NO RESERVE
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I do not agree with the no reserve thing. I know some do not like bidding on those auctions, but if there is a rock bottom price you will not accept less than, you should have a reserve. It is a sellers tool, otherwise you are contractually obligated to sell it at the final price and if a buyer pulls out last minute, you can get hosed.
I have seen a group of guys (usually friends) shill up the auction. 5 or 6 of them bid like crazy and then last minute they all pull out except the lowest bidder and they take the car for far less. With the reserve you are not obligated.