GB: I forgot a starting price! ...Cancel auction?

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In all actuality it sold at a reasonable price considering the condition. Maybe a bit high considering condition is everything on used guns. I’d chalk this one up to a learning experience, sell the gun for the high bid and move on.
 
High bid was fair IMO. That gun was highly modified and in rough condition. People used to pass around shotguns like that to friends at my range for $500. That was a few years ago....but still, those don't appreciate much in that condition.
 
The OP seems to be gone, but a couple points here:
1. Gunbroker is a listing service like a classified ad in a newspaper. Gunbroker cannot force you to sell your item at the end of the listing. You may however bring upon yourself penalties from the site or negative feedback. Just like any listing, you as the seller can set the terms and conditions of the sale.

2. If your item has bids and no reserve, if you end the auction early, the bid at that time becomes the winning bid. You are supposed to honor that bid. So don't end early unless you want to do some serious negotiating and explaining.
 
I learned my less on after my first auction. I started it at .01 and sold it at .01 The guy paid more in postage then the item cost. I wouldn't do an auction now that didn't start at the least amount I would accept for the item. If it doesn't sell at that you need to reevaluate and decide if your willing to take less.

WB
 
Wildbillz said:
I learned my less on after my first auction. I started it at .01 and sold it at .01 The guy paid more in postage then the item cost. I wouldn't do an auction now that didn't start at the least amount I would accept for the item. If it doesn't sell at that you need to reevaluate and decide if your willing to take less.

WB
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I have won a couple of those stupid low auctions, and now I am considering moving a couple items. My thoughts at this point is to start the bidding at that point where if I saw the item for sale for that, I would consider it. Remington 700 .308 at $400 I’m probably not going to even notice, but at $200 I’m noticing it. If I want to sell it then I know I’m going to get bids at 200 and it will go up from there.
 
Wildbillz said:
I learned my less on after my first auction. I started it at .01 and sold it at .01 The guy paid more in postage then the item cost. I wouldn't do an auction now that didn't start at the least amount I would accept for the item. If it doesn't sell at that you need to reevaluate and decide if your willing to take less.

WB
Click to expand...
I'm curious, what were you selling? That's a factor in deciding whether or not to start the item at a very low price such as $.01.

I've bought and sold quite a few items on GB, and have studied the patterns pretty carefully. I think it depends upon the item, and if it's a gun, it depends upon what gun it is, but for many items, starting at $.01 is pretty safe, and is also the way to get the most $ from the auction.

If it's not started at a very low price ($.01, for example), then the next best approach may be, as WestKentucky indicated, start it at a painfully low price, but one that you could manage to live with (not commit suicide) in the unlikely event that it only brought that much.

What you want to do is to get as many people watching it as possible, have at least two of them get more and more comfortable during the course of the auction with the idea paying up for the item, and then run the bids up. A good example (albeit an item that a LOT of people are chasing right now) is here:
https://www.gunbroker.com/Item/878267346
 
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I'm in the camp that sets the starting bid at the lowest price I will accept. First bid and I know it's sold at a price I can live with.

I hate reserve auctions, especially those that then state in the description, "The reserve price is $X." Just set that as your starting bid and have done with it.
 
Legionnaire said:
I hate reserve auctions, especially those that then state in the description, "The reserve price is $X." Just set that as your starting bid and have done with it.
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I VERY rarely will even put an item with a reserve on my watch list. I think most savvy sellers have learned not to put a reserve on their items because the number of auctions with reserve prices have gone from perhaps 20-25% or so 3-4 years ago to very few today. If you have a reserve, just start the bidding there. You're MUCH more likely to get some action on the item that way. I've noticed that items with an unknown reserve often don't reach more than about 60 - 70% of what would be a reasonable price for the item. It's a great way to avoid sales. :)
 
I6turbo said:
I've bought and sold quite a few items on GB, and have studied the patterns pretty carefully. I think it depends upon the item, and if it's a gun, it depends upon what gun it is, but for many items, starting at $.01 is pretty safe, and is also the way to get the most $ from the auction.
Click to expand...

Another thing I consider is who the seller is. My LGS is a GB seller and almost everything he sells starts at $0.01. And he gets top dollar for almost everything he sells. But I and I assume several others follow him and know what to expect. The exceptions are those niche items that by nature have a limited market. He will start those out at a minimum price. If you don’t have a following your just another guy selling his personal firearm.
 
I6turbo said:
I'm curious, what were you selling? That's a factor in deciding whether or not to start the item at a very low price such as $.01.

I've bought and sold quite a few items on GB, and have studied the patterns pretty carefully. I think it depends upon the item, and if it's a gun, it depends upon what gun it is, but for many items, starting at $.01 is pretty safe, and is also the way to get the most $ from the auction.

If it's not started at a very low price ($.01, for example), then the next best approach may be, as WestKentucky indicated, start it at a painfully low price, but one that you could manage to live with (not commit suicide) in the unlikely event that it only brought that much.

What you want to do is to get as many people watching it as possible, have at least two of them get more and more comfortable during the course of the auction with the idea paying up for the item, and then run the bids up. A good example (albeit an item that a LOT of people are chasing right now) is here:
https://www.gunbroker.com/Item/878267346
Click to expand...

Luckily on that first auction it was just a bunch of stripper clips. Like I said if I do one now I would start it at the lowest price I would be willing to accept. Maybe a few bucks less.

That 870 is crazy. Also I think also a lot of places that move a lot of stuff tend to get better prices then the one off seller selling their own stuff.

WB
 
Johnm1 said:
Another thing I consider is who the seller is. My LGS is a GB seller and almost everything he sells starts at $0.01. And he gets top dollar for almost everything he sells. But I and I assume several others follow him and know what to expect. The exceptions are those niche items that by nature have a limited market. He will start those out at a minimum price. If you don’t have a following your just another guy selling his personal firearm.
Click to expand...
I went on GB today just cruising to see what was available from a S&W revolver standpoint for either 14, 17, or 617 standpoint. ALL of the auctions with high minimum bids had ZERO bidders; all of those that started at .01 or a low number had bids. IMO, some of those sellers are either wishful thinkers or know nothing about the gun business. I can understand a rare or very high-end gun that normally goes in the tens of thousands, but basic guns like this OP was trying to sell (and a Frankengun at that), should be started at .01.
 
It turned out that the final bid was high enough to get me to relent on my plan to cancel the auction.

I've conducted thousands of auctions on GB and eBay over the years and rarely make a mistake. Probably under 5 times in 15 years. This was one! I did NOT mean to post it as an auction and intended it to be a fixed price listing. I didn't realize it until there was a bid. Then what? GB gives no way out. It was a problem! Well, it worked out. So far anyway. Still haven't received payment (it is to be M.O. in the mail) but I suspect all will go fine.
 
I6turbo said:
I'm curious, what were you selling? That's a factor in deciding whether or not to start the item at a very low price such as $.01.

I've bought and sold quite a few items on GB, and have studied the patterns pretty carefully. I think it depends upon the item, and if it's a gun, it depends upon what gun it is, but for many items, starting at $.01 is pretty safe, and is also the way to get the most $ from the auction.

If it's not started at a very low price ($.01, for example), then the next best approach may be, as WestKentucky indicated, start it at a painfully low price, but one that you could manage to live with (not commit suicide) in the unlikely event that it only brought that much.

What you want to do is to get as many people watching it as possible, have at least two of them get more and more comfortable during the course of the auction with the idea paying up for the item, and then run the bids up. A good example (albeit an item that a LOT of people are chasing right now) is here:
https://www.gunbroker.com/Item/878267346
Click to expand...
The home defense shotguns are big right now, seeing Mossbergs go for over 1000
 
That Rem 870 is insane....

I can’t imagine a real, shooting firearm going for .01 on Gunbroker unless it was grossly mislisted. Some eBay auctions of junk do. Maybe an obscure holster or mag on gunbroker. I have gotten good deals on new brass that someone started with a low price (not 1 cent.) If the item is obscure enough there just wont be enough interested parties for spirited bidding. But a functional firearm... lowest one I ever personally sold was a Stevens 940 12ga single shot shotgun that went for $47 I think. $0.01 starting bid of course. Plus $35 shipping, plus buyer had to pay a transfer fee, so he was still out around $100 which is probably what a shotgun like that would bring at a show.
 
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