[MOPO] Reserves for hollywoodposterauction.com

[Morris Everett Jr]

People have asked why we publish reserves for every auction. The 804 lot 
auction will take only 6 and one half hours to complete so that people can see 
a film, have dinner, go back to the dealers room and of course pay for their 
winnings. This of course allows bidders to determine if they can afford to bid 
on each lot. Many of these lots will go for the low reserve bid.  Winners can 
also pick up and pay for their posters Sunday morning. Remember that you can 
bid online during the auction without paying the additional 5%. We are already 
taking consignments for next year now.

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Re: [MOPO] Reserves

[Claude Litton]

This very obvious.  The very high bid means that the bidder knew the  
reserve prior to placing the bid.  Either the seller told the person the  
reserve 
or had another bidder (another username) place a high bid but just under  
the reserve.  
This is quite psychological and works well at times.  For example, if  
there is only one bidder and the bidder bids against a reserve not me, usually  
he will stop bidding quickly.
On the other hand, if there is a bid and each time the bidder places a bid  
and is outbid, he then may continue to bid and if the bidder beating him is 
one  bid under the reserve, guess what just happened.
 
People tend to bid more when there is at least a second bidder.
 
I personally avoid reserves except to use for tracking and then I only bid  
the starting price and not a dollar higher.
 
 
In a message dated 2/6/2012 6:15:40 P.M. Eastern Standard Time,  
mro...@earthlink.net writes:

Is there any policy regarding EBay reserves?  Often times in real auctions 
when there is a reserve, the opening bid  requirement might be half of that 
reserve or something similar. Recently I  noticed bidding on a poster where 
the reserve was not met, yet the high  and unsuccessful bid was more than 45 
times the opening  required bid. Anyone know the point to structuring 
auctions like  that?
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Re: [MOPO] Reserves

[Richard Halegua Comic Art]

I should add.. I've just stopped bidding on 99% of reserved item I 
look at on ebay. I have to want it badly to know that I'll go against 
the reserve on ebay


some sellers the reserves are pretty obvious as they frequently have 
a 9.99 start & a BIN of what I expect the reserves are


some sellers - like Sabee for instance - I don't even look at their 
stuff anymore. It all has reserves and I don't have time for that



At 03:15 PM 2/6/2012, Phillip W. Ayling wrote:
Is there any policy regarding EBay reserves? Often times in real 
auctions when there is a reserve, the opening bid requirement might 
be half of that reserve or something similar. Recently I noticed 
bidding on a poster where the reserve was not met, yet the high and 
unsuccessful bid was more than 45 times the opening required bid. 
Anyone know the point to structuring auctions like that?

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Re: [MOPO] Reserves

[Richard Halegua Comic Art]

you can start at any price and have a reserve of any price is my understanding

like the White Christmas lobby card set that ended a couple days ago 
at $199.99 (which was apparently the reserve price) and started at $9.99



At 03:15 PM 2/6/2012, Phillip W. Ayling wrote:
Is there any policy regarding EBay reserves? Often times in real 
auctions when there is a reserve, the opening bid requirement might 
be half of that reserve or something similar. Recently I noticed 
bidding on a poster where the reserve was not met, yet the high and 
unsuccessful bid was more than 45 times the opening required bid. 
Anyone know the point to structuring auctions like that?

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[MOPO] Reserves

[Phillip W. Ayling]

Is there any policy regarding EBay reserves? Often times in real auctions when 
there is a reserve, the opening bid requirement might be half of that reserve 
or something similar. Recently I noticed bidding on a poster where the reserve 
was not met, yet the high and unsuccessful bid was more than 45 times the 
opening required bid. Anyone know the point to structuring auctions like that?

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Re: [MOPO] FW: [MOPO] Reserves

[Bruce Hershenson]

I commend Heritage for already having a bid of $375,000 on their Bride of
Frankenstein poster. Even if their are no further bids (highly unlikely)
this poster will come very close to setting the record for the most
expensive movie poster ever sold at auction.

And to those who think buyers premiums are no big deal, realize that in this
case it turns a "bargain" $375,000 poster into a near-record setting
$448.125 poster! And if this proves to be the first million dollar movie
poster, then the buyers premium alone will be more than all but a handful of
movie posters have ever sold for.

Bruce


On Sun, Oct 31, 2010 at 9:08 PM, Smith, Grey - 1367  wrote:

>  Concerning reserves or opening bids on Heritage’s website and auction,
> there is no mystery. The reason reserves are not posted until 7 days before
> the auction is that we don’t know that all reserves are in from our
> consignors until that time.
>
> Contractually the consignor has until 10 days before the live auction to
> enter a reserve, though they cannot enter one above the low estimate printed
> in the catalog or online. In far more instances we will remove or lower a
> reserve in our Signature auction than raise or even enter a reserve at all
> in the movie poster auctions. This is no new and breaking news to our loyal
> bidders online, as many will just wait until the reserves post before
> bidding, if they were in anyway prone to believe our jealous competitors who
> continually try to imply some unscrupulous activity.
>
> Of the 1400+ lots in this current sale, almost 1200 are unreserved. We
> start all items, if unreserved, at one half of the low estimate, as that is
> a tremendous saving of our bidders time and we feel that at one half of the
> estimate it should be a very reasonable price. To begin a live auction with
> a $1 bid would take a great lot of time were there no bids previously
> entered online and we found that to be the case in far too many instances in
> prior auctions and a waste of time.
>
> Heritage has a big target on our back for jealous competitors and deadbeats
> and we are aware that many unscrupulous competitors will play on bidders
> concerns. We are regulated by the state of Texas, and in the instance of
> this auction, California, as a licensed auctioneer though many of our
> competitors have no such oversight and may do as they like in the handling
> of confidential bids.
>
>
>
>
>
> On Sat, Oct 30, 2010 at 12:08 PM, Franc  wrote:
>
>
>
>  I think posting reserves is ridicuous. Why not just start the bidding at
> the reserve?
>
>
>
> I think houses don't immediately post the reserve because they're hoping
> more than one bidder will bid above the reserve. I'm also deeoply suspicious
> when I'm the only bidder on a piece and the piece opens with the reserve met
> at my opening bid. It makes he wonder what the reserve actually was and
> whether or not I bid above the reserve and the house is
> taking unfair advantage of that. I know legitimate auction houses don't do
> that but I know for sure there is one auction (which I will no longer
> partake in) that does this, as well as opening bids after the auctioneer
> says "SOLD" because an internet bid is received late.
>
>
>
> FRANC
>
>
>
>
> --
>
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>


-- 
Bruce Hershenson and the other 28 members of the eMoviePoster.com team
P.O. Box 874
West Plains, MO 65775
Phone: 417-256-9616 (hours: Mon-Fri 9 to 5 except from 12 to 1 when we take
lunch)
our site 
our auctions 

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[MOPO] FW: [MOPO] Reserves

[Smith, Grey - 1367]

Concerning reserves or opening bids on Heritage's website and auction, there is 
no mystery. The reason reserves are not posted until 7 days before the auction 
is that we don't know that all reserves are in from our consignors until that 
time.
Contractually the consignor has until 10 days before the live auction to enter 
a reserve, though they cannot enter one above the low estimate printed in the 
catalog or online. In far more instances we will remove or lower a reserve in 
our Signature auction than raise or even enter a reserve at all in the movie 
poster auctions. This is no new and breaking news to our loyal bidders online, 
as many will just wait until the reserves post before bidding, if they were in 
anyway prone to believe our jealous competitors who continually try to imply 
some unscrupulous activity.
Of the 1400+ lots in this current sale, almost 1200 are unreserved. We start 
all items, if unreserved, at one half of the low estimate, as that is a 
tremendous saving of our bidders time and we feel that at one half of the 
estimate it should be a very reasonable price. To begin a live auction with a 
$1 bid would take a great lot of time were there no bids previously entered 
online and we found that to be the case in far too many instances in prior 
auctions and a waste of time.
Heritage has a big target on our back for jealous competitors and deadbeats and 
we are aware that many unscrupulous competitors will play on bidders concerns. 
We are regulated by the state of Texas, and in the instance of this auction, 
California, as a licensed auctioneer though many of our competitors have no 
such oversight and may do as they like in the handling of confidential bids.


On Sat, Oct 30, 2010 at 12:08 PM, Franc 
mailto:fdav...@verizon.net>> wrote:

I think posting reserves is ridicuous. Why not just start the bidding at the 
reserve?

I think houses don't immediately post the reserve because they're hoping more 
than one bidder will bid above the reserve. I'm also deeoply suspicious when 
I'm the only bidder on a piece and the piece opens with the reserve met at my 
opening bid. It makes he wonder what the reserve actually was and whether or 
not I bid above the reserve and the house is taking unfair advantage of that. I 
know legitimate auction houses don't do that but I know for sure there is one 
auction (which I will no longer partake in) that does this, as well as opening 
bids after the auctioneer says "SOLD" because an internet bid is received late.

FRANC



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Re: [MOPO] Reserves

[Bruce Hershenson]

I wonder if you correct Franc. Of course, they could immediately start
posting reserves BEFORE the bidding starts, and also NEVER re-open a closed
auction, except when there is an outage of service, and then both those
problems would completely go away. I wonder if they will do so? Maybe if
people start refusing to play in a rigged game.

Bruce

On Sat, Oct 30, 2010 at 12:08 PM, Franc  wrote:

>
>
>  I think posting reserves is ridicuous. Why not just start the bidding at
> the reserve?
>
> I think houses don't immediately post the reserve because they're hoping
> more than one bidder will bid above the reserve. I'm also deeoply suspicious
> when I'm the only bidder on a piece and the piece opens with the reserve met
> at my opening bid. It makes he wonder what the reserve actually was and
> whether or not I bid above the reserve and the house is
> taking unfair advantage of that. I know legitimate auction houses don't do
> that but I know for sure there is one auction (which I will no longer
> partake in) that does this, as well as opening bids after the auctioneer
> says "SOLD" because an internet bid is received late.
>
> FRANC
>
>


-- 
Bruce Hershenson and the other 28 members of the eMoviePoster.com team
P.O. Box 874
West Plains, MO 65775
Phone: 417-256-9616 (hours: Mon-Fri 9 to 5 except from 12 to 1 when we take
lunch)
our site 
our auctions 

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Re: [MOPO] Reserves

[Franc]

 


I think posting reserves is ridicuous. Why not just start the bidding at
the reserve?
 
I think houses don't immediately post the reserve because they're hoping
more than one bidder will bid above the reserve. I'm also deeoply
suspicious when I'm the only bidder on a piece and the piece opens with
the reserve met at my opening bid. It makes he wonder what the reserve
actually was and whether or not I bid above the reserve and the house is
taking unfair advantage of that. I know legitimate auction houses don't
do that but I know for sure there is one auction (which I will no longer
partake in) that does this, as well as opening bids after the auctioneer
says "SOLD" because an internet bid is received late. 
 

FRANC  


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[MOPO] Reserves/////////

[Vaughn K. Mann]

Hey MOPO,
Wanted to thank a couple of you for reminding me, I hate Reserve auctions
too.thus, after that long winded note I have just sent; realized
I could take the reserve off. Did so, thus, you may 
now see the "written language of the almighty $" in black and
white.Good luck if interestedVaughn
http://cgi6.ebay.com/aw-cgi/eBayISAPI.dll?ViewListedItems&userid=vmann



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Re: [MOPO] Reserves on ebay

[Andy Neal]

All

I agree with JR on this... "What hidden reserves do is serve to generate
interest in the auction and entice bidding"

Everyone loves the buz of a bidding battle, starting it low with a reserve
does just that, creates the interest. If people see an item on a returned
page of search results thats had bids on it, you're immediately drawn to
those items.

I was reading an article in a magazine recently which suggested that Reserve
prices add to the "russian roulette" factor of bidding - people love to take
that risk in bidding when the item is potentially near the reserve price.

If I was selling a poster that was worth a fair bit I would consider useing
the reserve system as it can increase interest in your item.

I'm not sure without checking, but isn't it cheaper to list an item this way
too? Selling costs are often a factor on how items are listed.

Thanks
Andy
The Movie Poster Forum
http://www.movieposterforum.com




Original Message Follows
From: JR <[EMAIL PROTECTED]>
Reply-To: JR <[EMAIL PROTECTED]>
To: MoPo-L@LISTSERV.AMERICAN.EDU
Subject: Re: [MOPO] Reserves on ebay
Date: Wed, 12 Oct 2005 02:40:48 -0500

Claude,

In theory, I agree with everything said about the annoyance and uselessness
of having hidden reserves on internet auctions. I even feel the same way
about reserves on live auctions. I think the starting bid should be set at
the "reserve price" if the seller wants to have an assurance of getting at
least X amount of money. Just come out and say it. If no one bids because
the starting bid is too high, that should tell the seller something. But...
in the real world...

What hidden reserves do is serve to generate interest in the auction and
entice bidding. The thought crosses our minds that "...hmmm... maybe the
reserve isn't all that high. Maybe I can still snag it at a super-bargain
price..." That's the motivating psychology behind the reserve, and it still
works -- particularly on newer collectors who haven't gotten tired of the
game. Beyond that, sellers use reserves to gauge the marketplace, to see
what kind of interest is out there for an item. In the case of internet
auctions, it is quite common for a seller to email the highest bidder after
the auction is over (and the reserve was not met) and open private
negotiations that eventually result in a mutually-agreeable price being
reached and a sale being made. This happens all the time.

So, I can see why some people still use reserves. But me, personally, I
don't like 'em and haven't even bothered to place a bid on a reserve items
in many years.

-- JR

  - Original Message -
  From: Claude Litton
  To: MoPo-L@LISTSERV.AMERICAN.EDU
  Sent: Tuesday, October 11, 2005 14:05
  Subject: [MOPO] Reserves on ebay


  Here is a question for the group.  Do you bid against reserves?  I
personally will not chase reserve prices.  I will place a low bid that I
know will not meet the reserve and then snipe at the end.  However, I cannot
understand the reason for them.  Why not put a starting price on the poster
and let it fly.  I am a collector and not a seller.  May I hear from sellers
on this subject?

  CJL
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Re: [MOPO] Reserves on ebay

[JR]

Claude,
 

In theory, I agree with everything said about the annoyance 
and uselessness of having hidden reserves on internet auctions. I even feel the 
same way about reserves on live auctions. I think the starting bid should be set 
at the "reserve price" if the seller wants to have an assurance of getting at 
least X amount of money. Just come out and say it. If no one bids because the 
starting bid is too high, that should tell the seller something. But... in the 
real world...
 
What hidden reserves do is serve to generate interest in the 
auction and entice bidding. The thought crosses our minds that "...hmmm... maybe 
the reserve isn't all that high. Maybe I can still snag it at a super-bargain 
price..." That's the motivating psychology behind the reserve, and it still 
works -- particularly on newer collectors who haven't gotten tired of the game. 
Beyond that, sellers use reserves to gauge the marketplace, to see what kind of 
interest is out there for an item. In the case of internet auctions, it is quite 
common for a seller to email the highest bidder after the auction is over (and 
the reserve was not met) and open private negotiations that eventually result in 
a mutually-agreeable price being reached and a sale being made. This happens all 
the time.
 
So, I can see why some people still use reserves. But me, 
personally, I don't like 'em and haven't even bothered to place a bid on a 
reserve items in many years.
 
-- JR
 

  - Original Message - 
  From: 
  Claude Litton 
  
  To: MoPo-L@LISTSERV.AMERICAN.EDU 
  
  Sent: Tuesday, October 11, 2005 
  14:05
  Subject: [MOPO] Reserves on ebay
  
  Here is a question for the group.  Do you bid against 
  reserves?  I personally will not chase reserve prices.  I will place 
  a low bid that I know will not meet the reserve and then snipe at the 
  end.  However, I cannot understand the reason for them.  Why 
  not put a starting price on the poster and let it fly.  I am a 
  collector and not a seller.  May I hear from sellers on this 
  subject?
   
  CJL
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  content.
  
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Re: [MOPO] Reserves on ebay

[Planetbiz]

Although
I can’t say that I avoid auctions with Reserves, I usually will not bid until
the Reserve is met.  I’m primarily a collector but as with most collectors,
I sell items from time to time.  I can understand placing a reserve on an item
even though I don’t like to see them when I’m bidding.  A reserve
can allow you to test the market without having to part with the item for an amount
far less than you can really live with.  If the seller decides to sell at
the high price, he can make a second chance offer to the high bidder (I think)
and/or offer the item later at a price similar to the high bid.  Otherwise,
he can just decide to sit on the item for the time being.

 

Bill

 

 

 









From: MoPo List
[mailto:[EMAIL PROTECTED] On
Behalf Of Claude Litton
Sent: Tuesday, October 11, 2005
3:05 PM
To: MoPo-L@LISTSERV.AMERICAN.EDU
Subject: [MOPO] Reserves on ebay



 



Here is a question for the group. 
Do you bid against reserves?  I personally will not chase reserve
prices.  I will place a low bid that I know will not meet the reserve and
then snipe at the end.  However, I cannot understand the reason for
them.  Why not put a starting price on the poster and let it
fly.  I am a collector and not a seller.  May I hear from
sellers on this subject?





 





CJL








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Re: [MOPO] Reserves on ebay

[Phil Edwards Cinema Arts]

I agree with Walter and Kirby.
While "reserves" have always been part of the
auction experience, in a market like eBay
they are pretty much a waste of time.

As sellers, we just list the minimum price we would
be happy to accept for any item.
If it goes higher from multiple bids, that's even better for us.

As buyers, if there's an item with a reserve I'll sometimes stick in a
bid and maybe go re-visit later to see if reserve has been reached. If it's
something we're really keen to acquire then we ask the seller what the
reserve is. Many will reveal that, others not.

If they choose not to, we don't often get involved.

Say, for example, you want $500 for something... just put $500 as
the minimum bid. Putting a reserve is pretty much a waste of time for
potential buyers these days, with the potential exception of new eBay
buyers who get
caught up in the excitement of online auction bidding.
Phil

Kirby McDaniel wrote:


I tend to agree with Walter on this one from a theoretical point of
view.

In a live auction, the auctioneers will start an item often below the
reserve and
the buyer will usually not know the reserve, although most of the time the
reserve is about 20% below the low estimate.  An internet "auction"
such as ebay  a reserve is sort of useless.

I have bid on many items with a reserve, however.  All I am interested
in is
knowing the figure that I am willing to pay and how much I want the
poster.

There are a lot of items on ebay, I suspect, that don't have a
reserve, but they
DO.  They are not going to truly sell until the seller has a price
that they want.
Not all, but many I would say.

Kirby McDaniel
www.movieart.net



On Oct 11, 2005, at 2:05 PM, Claude Litton wrote:


Here is a question for the group.  Do you bid against reserves?  I
personally will not chase reserve prices.  I will place a low bid
that I know will not meet the reserve and then snipe at the end.
However, I cannot understand the reason for them.  Why not put a
starting price on the poster and let it fly.  I am a collector and
not a seller.  May I hear from sellers on this subject?

CJL
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Re: [MOPO] Reserves on ebay

[Kirby McDaniel]

I tend to agree with Walter on this one from a theoretical point of view.  In a live auction, the auctioneers will start an item often below the reserve andthe buyer will usually not know the reserve, although most of the time thereserve is about 20% below the low estimate.  An internet "auction"such as ebay  a reserve is sort of useless. I have bid on many items with a reserve, however.  All I am interested in isknowing the figure that I am willing to pay and how much I want the poster.There are a lot of items on ebay, I suspect, that don't have a reserve, but theyDO.  They are not going to truly sell until the seller has a price that they want.Not all, but many I would say.Kirby McDanielwww.movieart.netOn Oct 11, 2005, at 2:05 PM, Claude Litton wrote:  Here is a question for the group.  Do you bid against reserves?  I personally will not chase reserve prices.  I will place a low bid that I know will not meet the reserve and then snipe at the end.  However, I cannot understand the reason for them.  Why not put a starting price on the poster and let it fly.  I am a collector and not a seller.  May I hear from sellers on this subject?   CJL Visit the MoPo Mailing List Web Site at www.filmfan.com ___ How to UNSUBSCRIBE from the MoPo Mailing List  Send a message addressed to: [EMAIL PROTECTED] In the BODY of your message type: SIGNOFF MOPO-L  The author of this message is solely responsible for its content.Visit the MoPo Mailing List Web Site at www.filmfan.com
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Re: [MOPO] Reserves on ebay

[Vaughn K. Mann]

Hello all,
If I see something interesting that has a reserve on itI email
the seller and ask what the reserve is. If he/she gets back to me with an
answer to my question (like what $ the reserve is), I might bid,
otherwise...I forget it!Vaughn

At 03:05 PM 10/11/2005 -0400, Claude Litton wrote:
Here is a
question for the group.  Do you bid against reserves?  I
personally will not chase reserve prices.  I will place a low bid
that I know will not meet the reserve and then snipe at the end. 
However, I cannot understand the reason for them.  Why not put a
starting price on the poster and let it fly.  I am a collector and
not a seller.  May I hear from sellers on this subject?
 
CJL
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www.filmfan.com
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Re: [MOPO] Reserves on ebay

[Michael B]

i never snipe on a reserve.  what's the point?   i might 
truly overpay.  let me outbid another person, but not the seller.
 
when i see a reserve, i usually bid lower.
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Re: [MOPO] Reserves on ebay

[Walter Reuben]

Claude: I am both a buyer and a seller, and I find reserves annoying.  
In honesty, if there is a reserve on an ebay item, I am often much more 
reluctant to even bother with it.
I may possibly be listing some posters and lobbies on ebay in the next few 
weeks, and do not plan to use reserves.  If I want, say, $4,500 for 
something, I really prefer to come right out and say so.
 

Walter Reuben
Walter Reuben, Inc.
500 North Harper 
Avenue
Los Angeles 
CA 90048  
USA
Email: [EMAIL PROTECTED]
(323) 651 3313
www.walterfilm.com

  - Original Message - 
  From: 
  Claude Litton 
  
  To: MoPo-L@LISTSERV.AMERICAN.EDU 
  
  Sent: Tuesday, October 11, 2005 12:05 
  PM
  Subject: [MOPO] Reserves on ebay
  
  Here is a question for the group.  Do you bid against 
  reserves?  I personally will not chase reserve prices.  I will place 
  a low bid that I know will not meet the reserve and then snipe at the 
  end.  However, I cannot understand the reason for them.  Why 
  not put a starting price on the poster and let it fly.  I am a 
  collector and not a seller.  May I hear from sellers on this 
  subject?
   
  CJL
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  content.
  
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[MOPO] Reserves on ebay

[Claude Litton]

Here is a question for the group.  Do you bid against reserves?  
I personally will not chase reserve prices.  I will place a low bid that I 
know will not meet the reserve and then snipe at the end.  However, I 
cannot understand the reason for them.  Why not put a starting price on the 
poster and let it fly.  I am a collector and not a seller.  May I 
hear from sellers on this subject?
 
CJL
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