Is no reserve really the truth?


Isn't an auction with no reserve but with a minimum bid kind of misleading? A current auction here states that a Wadia 850 CD player is being auctioned off starting at $1 with no reserve. When you go to this auction you find that there is a minimum bid of $2960. Is this not for all intents and purposes a reserve or just plain old false advertising?
128x128dtwomey

Showing 2 responses by swampwalker

Dtwomey- There is a difference between reserve and minimum bid. Reserve is hidden, minimum bid puts it out there to see so you don't have to waste your time. However, if the listing your taking about says starting at $1 and then there is a minimum on the detailed page then that is false advertising. I ran into this also on an auction here and was pretty upset. This is deceptive and is one real problem I have encountered on this site. Site sponsors should be informed and look into it. Posting the name would be a last resort; such postings are starting to deteriorate some of the threads into name calling or he said-she said affairs that are a real drag and add no useful information to help out the hobbiests who want to learn.
Sdcambell & Audiogon staff- I had a similar experience. I was high bidder (admittedly at a low price) on a pair of monoblock amps, listed with no reserve. When I checked back a day later, found that a reserve had been added in (above my bid). Since there have been at least three instances reported on this thread, there seems to be problem here.