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[Discussion] What the heck is going on with the RF auction prices???

Discussion in 'UO Rares Collector' started by Fraggles, Jan 2, 2012.

  1. Fraggles

    Fraggles Guest

    I just visited the Auction House at rares fest and omg! perhaps next fest someone can set some boundrys on the reserve! These people appearently dont want to sell there items. Have they not relized that a lower reserve will bring more bids? i understand people dont want to give there items away but Holy Hell man. And what the hell is up with an item having 3 diffrent prices! Start bid, Reserve and buyout lol. so someone can start the bid at that price but unless the reserve is met it wont be sold? so whats the point of the start bid lmfao....just a vent
     
  2. Omnius

    Omnius Crazed Zealot
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    Just says something about the business atmosphere of UO today.
     
  3. Assia Penryn

    Assia Penryn The Sleeping Dragon
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    I put all three on my items. My guess is that it is for those items that do not reach the reserve the people can know the highest and possibly readjust their expectations in the future.
     
  4. lineman

    lineman Rares Fest Host | Ches Jan 2011
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    If reserve is not met that does not meen item will not be sold, that meens the seller reserves the right to sell it to the highest bidder above there open price. Example, I have a unique item in the AH, I put a low open to draw bids and a higher reserve, if reserve is not met but pretty close I may or may not sell it at that price. Do I agree that some of the items are priced high? Yes. But I cannot tell someone what they can sell there items for. If some of the sellers want to adjust there prices if they are not recieving bids I would be more than happy to.
     
  5. Barok

    Barok Grand Inquisitor
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    The "rares" economy is a completely separate economy from the rest of UO. You have to be slightly insane to even begin to understand it.
     
  6. Fraggles

    Fraggles Guest

    ahh got ya, i thought the items would not be sold unless they reached that number,,,
     
  7. Alexander of ATL.

    Alexander of ATL. Rares Fest Host | Atl June 2013
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    Ya i agree, reserves are way to high on some items, same thing happened at the Rare's Fest on Atlantic that I and the rest of the Toad Town People held with the help of other people of course. But as Lineman said, you cant refuse someone wanting to sell their item for that amount.
     
  8. Slickjack

    Slickjack Rares Fest Host | Cats Nov 2010
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    Misses "live auctions" at raresfests....
     
  9. THP

    THP Stratics Legend
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    People EXPECTING sky high prices for normal event drops was what spolied the last atlantic festival.

    Here we are again...

    Same olde same olde.....
     
  10. blend

    blend Lore Keeper
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    Each configuration has been faithful to the needs of the seller
    What solutions do you have?
    would do if they are seriously considering selling
    price down of the reserve
     
  11. yanaki2

    yanaki2 Sage
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    honestly my suggestion is the following:

    start the bidding at say 25 mil on all the items, no buyout and have the sellers provide a reserve but do not post it.let the bidders decide what they are willing to offer and then when its over if an item doesnt meet the reserve contasct the seller if they want to sell for that price.

    this does the following:

    1. it promotes peoples interest in bidding on items
    2. when people feel they have a opportunity to get a item they will in many cases bid more to secure the item as others also are now bidding on it.(aka a bidding war!)
    3. the sellers can get a realistic idea of what people are willing to pay for that item, many items in the auction hall this time were at the last rares fest to.

    all in all too many people are bringing in items pricing them extreamly high and there just sitting there.ive spent 500 mil on items this fest already and to be honest i have set prices im willing to pay for anything.if some people were more realistic in my humble opinion id probably have spent more.
     
  12. Fraggles

    Fraggles Guest

    I agree with you 100% but i dont think it will happen :(
     
  13. Apetul

    Apetul Rares Fest Host | LS April 2011
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    The silent auction house(s) are a showcase of rares right now. The real auction will start 10 minutes before the ending time.

    If the item doesnt have a buyout, then the only purpose to bid on a item now is to prevent the seller to change start/reserve price or to add a buyout. I dont like that, but thats just an opinion.
    Whats the difference on biding for that item now or just wait for the last 10 minutes? no difference at all, since the item wont sell before the auction ends.

    In my opinion, the seller should have the right to change start/reserve price or to add a buyout any time he wants, but only to lower the price. That way, there will be a real reason to bid on items because there will be a chance to get it before the auction ends.
     
  14. lineman

    lineman Rares Fest Host | Ches Jan 2011
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    I agree and have stated that I would be happy to lower prices at the sellers request and have done so to allot of items. The only thing I object to is to add a buyout if it has a bid on it. Reason being is this was done at a previous auction and a few people were mad who had bids on a item and lost out when a buyout was made with them unaware. But if item does not have a bid I would be happy to add a buyout.

    I think the problem is some people have forgotten that this is a auction and there thinking of it more as I high priced vendor. I submitted 5 items myself and all have bids, because I started items out at a fair price. Again I state I cannot tell someone what to do with there rares but I will gladly go back and change item prices at sellers requests.
     
  15. Apetul

    Apetul Rares Fest Host | LS April 2011
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    So, the owner can lower the starting and reserve price if the item has bids on it? thats cool, i tought it was not possible to change anything if the item has bids.

    I still dont see a reason to bid right now on a item that has no buyout. There is really no difference to bid now or to bid 10 mins before the auction ends. And, knowing the owner cant add a buyout if the item has 1 bid or more then I dont even need to read the bulletin board on that item until the last 10 minutes of the auction because I know for sure the item will stay locked down there until auction ends.

    I still remember the first silent auction on Chessy, there was alot of bids every day because it was possible to talk with the seller and ask for a discount, or try a item trade, or just offer a private big amount of gold for items that have no buyout price. There was alot of movement on that house, new items every day, and alot of items sold daily. Yes, Im sure afew people were mad because they bid on a item that was sold next day but there was alot of happy people too that got new rares or more gold to spend on other items. I'm not saying that silent auction was perfect, I just think I liked it more than the last ones, because of the possibilities to make business.

    But dont get me wrong, this is just a tought and Im not criticizing how the current auction house works and I thank you for all the work.
     
  16. lineman

    lineman Rares Fest Host | Ches Jan 2011
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    Thank you Ape. I am sure allot of items will be bid on like you said within last minutes of auction. It is hard to try and make everyone 100% happy with how AH is run but I am trying to balance it out between buyer and seller. Right now names of seller are posted on the title of the bulletin boards. I could add there icq,s if seller wants.
     
  17. Apetul

    Apetul Rares Fest Host | LS April 2011
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    I was just checking the 2nd auction house, owned by Shushu and I see that house has different rules.
    There is a "amphibious piglet". Start is 100, reserve is 200m, no buyout. There is a bid for 200m that was posted 4 days ago, and there is a runebook locked down next to the item saying the owner will decide on a buyout price today or tomorrow.
    Same on other items with previous bids, like Mesanna Minion, glacial dice and cup.

    Seems to be a good idea, that way the seller has a chance to change prices, including adding a buyout, just to sell the item quicker and make some gold to spend on other items and the runebook idea is very good because its hard to miss a runebook next to the rare you are looking for.
     
  18. lineman

    lineman Rares Fest Host | Ches Jan 2011
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    Well like I said before I did that at first auction and had a bunch of people pissed off at me. I am not gonna please everybody. If I am asked to do this again and I decide to, which is getting more debatable as the days go on, I will see what everyone wants. Which seems to change as the days go on 90% of the items at my AH dont have bids anyway so if someone wants to add a buyout just let me know

    (this isn't directed at you Ape, it is just allot of work from start to finish) Also what I can do is ask bidder if they mind if I add a buyout on a item, in that case I would do it.
     
  19. Apetul

    Apetul Rares Fest Host | LS April 2011
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    Oh I'm sure thats alot of work, even more if you will ask the bidder if its ok to add a buyout that the seller wanted to add. Thats alot of icq conversations for each item. I cant imagine how busy you will be this friday and/or saturday hehe
     
  20. Manticore

    Manticore Babbling Loonie
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    Linemen, just run it the way you see fit. You're doing a fine job. Can't imagine all the work you and those who actually ran previous festival auction houses have put in.
     
  21. Bon Iver

    Bon Iver Rares Fest Host | Atl Sept 2011 & June 2013

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    The "I Gave Blood For Maya's Cure" robe was reduced drastically to the more logical price. Maybe someone should bid on it... *wink wink*
     
  22. Assia Penryn

    Assia Penryn The Sleeping Dragon
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    Well said. *raises a glass*