I had an ebay auction last year - sold about 9 designer outfits in one lot. High bidder was $1. Best auction she ever won - her comments, not mine. But I'd have to agree.
What about real estate?
When I talk with sellers about reserves and their needing to set a very very low or no reserve. A common comment is "but what if no one bids more than $1?"
What would your response be if this was to be a no reserve auction? (I'll tell you my comments in part 2).
Linda
AuctionFirst.com
Real Estate Auctioneer
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