April Fools or potential bargain - $1 reserve Ducati 999

**Naki Rat** · 1st April 2009, 09:50

This attracted bids up to $6,000 overnight which were cancelled so that his "mistake" of a 24 hour auction could be corrected.

http://www.trademe.co.nz/Browse/List...x?id=210952269

**MarkH** · 1st April 2009, 13:06

Originally Posted by Naki Rat

This attracted bids up to $6,000 overnight which were cancelled so that his "mistake" of a 24 hour auction could be corrected.

http://www.trademe.co.nz/Browse/List...x?id=210952269

So, why is a $1 reserver auction a potential bargain - you will only get it if you are willing to pay more than any other bidder. The highest bid at the end of the auction IS the market price of the bike.

**Dooly** · 1st April 2009, 13:22

On my watch list...

**dipshit** · 1st April 2009, 13:27

Originally Posted by MarkH

So, why is a $1 reserver auction a potential bargain - you will only get it if you are willing to pay more than any other bidder

If only it was buy now for a $1..!

**MarkH** · 1st April 2009, 14:50

Originally Posted by dipshit

If only it was buy now for a $1..!

I'd buy that for a dollar!

**Elysium** · 1st April 2009, 15:17

Originally Posted by MarkH

I'd buy that for a dollar!

Proberly needs $5,999 worth of work in the shop, you know how expensive Ducati's are to run

**robo555** · 1st April 2009, 15:26

Originally Posted by MarkH

So, why is a $1 reserver auction a potential bargain - you will only get it if you are willing to pay more than any other bidder. The highest bid at the end of the auction IS the market price of the bike.

Someone maybe willing to pay $10,000 for it, while others are willing to pay $7,000.

If the seller had asked for $10,000, bike would have got sold for $10,000.

In $1 reserve situation, it gets sold for $7,001 - buyer would consider this a bargain.

**Naki Rat** · 1st April 2009, 15:33

Originally Posted by MarkH

So, why is a $1 reserver auction a potential bargain - you will only get it if you are willing to pay more than any other bidder. The highest bid at the end of the auction IS the market price of the bike.

What part of potential don't you understand?

**MarkH** · 1st April 2009, 16:02

Originally Posted by robo555

Someone maybe willing to pay $10,000 for it, while others are willing to pay $7,000.

If the seller had asked for $10,000, bike would have got sold for $10,000.

In $1 reserve situation, it gets sold for $7,001 - buyer would consider this a bargain.

If the guy willing to pay $10K has his head on straight he realises that no one else would pay over $7K so he would be overpaying by a lot at $10K. If the seller lists it at $10K and the buyer says "I'll give you $7.5K for it" then the seller has to either not sell it or accept the offer.

All I'm saying is that with the amount of buyers looking through trademe there is no way that the bike is going to sell at several thousand below its real value, a dealer would jump in and snap it up before anyone got a bike that cheap.

Market forces?
Supply & demand?

Geez, am I the only one here that did economics at university?

**HenryDorsetCase** · 1st April 2009, 16:04

Originally Posted by MarkH

If the guy willing to pay $10K has his head on straight he realises that no one else would pay over $7K so he would be overpaying by a lot at $10K. If the seller lists it at $10K and the buyer says "I'll give you $7.5K for it" then the seller has to either not sell it or accept the offer.

All I'm saying is that with the amount of buyers looking through trademe there is no way that the bike is going to sell at several thousand below its real value, a dealer would jump in and snap it up before anyone got a bike that cheap.

Market forces?
Supply & demand?

Geez, am I the only one here that did economics at university?

I'm sorry, but someone who rides a Burgman is simply not qualified to discuss Ducatis. Its a rule of nature.....

if I thought it was too cheap, I'd buy it myself.

**MarkH** · 1st April 2009, 16:26

Originally Posted by HenryDorsetCase

I'm sorry, but someone who rides a Burgman is simply not qualified to discuss Ducatis. Its a rule of nature.....

Best commuter I've ever owned. I will save up for a weekend bike as soon as I can - promise!

Originally Posted by HenryDorsetCase

if I thought it was too cheap, I'd buy it myself.

That's what I was saying - no way it will go for a crazy cheap price, too many people that would jump in and say "I'd pay more than that".

I've seen plenty that have a 'buy now' price that I thought "that's a bargain", but obviously the demand for the particular bike is not that high. I am currently thinking of an SV650 or GSXF750 for my next purchase because these seem like pretty decent bikes for the money they are selling for. I certainly wont be looking to pay $3K more than what any other bidder on trademe would pay!