Italian4u
Well-known member
On figbid it does tell you. If you bid and your bid does not meet the reserve next to the price it says reserve not met.
Reserve pricing on figbid-why
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TorontoJoe
Administrator
Many people feel more comfortable and are willing to pay more for something coming from someone they trust or are familiar with. I'm not saying it's wise or unwise.... but it's a real thing and happens all over the place, not just in the fig world. To some degree I get it. If you wanted to buy cuttings of, whatever variety..... And assuming I sold cuttings.... Would you be more inclined to buy them from TorontoJoe for $20.... or "CanadaJoe" for $10? TorontoJoe has a lot more to lose and the likelihood of spending several years, only to find out that CanadaJoe is a stronzo selling cuttings not true to type.... Maybe worth the extra money
Just my $0.02
TorontoJoe
Administrator
But what's the point of bidding under the reserve? Why is a bid below the reserve even made if you can't get it for that price?
Italian4u
Well-known member
I just did a test auction for you to show you what I am talking about. The system will not let you have a starting bid that is at your reserve it has to be lower or the system will not list the item for you. As for getting around that you can start off the big at your reserve price and just leave the reserve spot empty. However, like I have stated in my experience I’ve listed things at the reserve price starting bud and I have had auctions end with no action on them. Then I relist and have the starting bid lower than my reserve and all of a sudden you get a bunch of bids on the same thing and price always goes over the reserve and the item sells. It’s galled like every time for me so maybe there’s some psychology aspect that goes into it that I’m not understanding lol. I will attach the photos of the test listing I just did to show how the system does not let you list with a starting bid at your reserve price.
Attachments
TorontoJoe
Administrator
Thanks for explaining.... That's seems like an odd way to do it but I understand now.
Kompakfigs
Well-known member
If it's the same variety, CanadaJoe.
Kompakfigs
Well-known member
Figbid prices on cuttings are all over the place.If it's the same variety, CanadaJoe.
TorontoJoe
Administrator
If it's the same variety, CanadaJoe.
But, but.... TorontoJoe is a straight shooter..... while CanadaJoe is a Stronzo!
*Please, don't use Google Translate.... It's entirely inaccurate
Italian4u
Well-known member
I didn’t make the rules. I just live in the world that already had them set up before I got here lol
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SubmarinePete
Well-known member
I just re-read thus because i was trying to figure out why there are so many of these on figbid. From what I’ve read the bottom line is that sellers sell more trees at higher prices using reserves so thats why they do it. As a buyer its super annoying and just makes the site less useable in general. You cant tell if a tree has a reserve unless you click on it, and the site refuses to incorporate a function that allows you to hide sellers. But where else can you go? Seems like there are few alternatives.
figologist
Well-known member
I ignore my hatred of reserve prices when I'm buying from you. I've gotten 3 very vigorous varieties from you.I've used reserve prices to preserve the buy it now feature until it is met. Rarer varieties typically have higher reserves but I also like to start the auction at a reasonable set price without reserves so it sells in round 1. I also will openly share the reserve price if asked
TorontoJoe
Administrator
If you have suggestions, Danny is pretty responsive. I think being able to filter listings with a reserve would be useful.
I haven’t looked lately but I think you can search by seller if you have some who you prefer. But yes, I don’t think you can block them.
GoodFriendMike
Moderator
You can search by seller and block buyers if you are a seller. But can not block a seller.
DCallahan
Well-known member
A site with more features is more expensive to operate and administer.
If site fees and commissions go up, don't you think the cost of goods sold would follow?
As a buyer, would you rather have a $0 dollar starting bid with a reserve, or a higher starting bid ( close to market value) with no reserve?
Also a factor with posting a "buy it now" listing is it is at the back end of the search results behind any auction listings.
If site fees and commissions go up, don't you think the cost of goods sold would follow?
As a buyer, would you rather have a $0 dollar starting bid with a reserve, or a higher starting bid ( close to market value) with no reserve?
Also a factor with posting a "buy it now" listing is it is at the back end of the search results behind any auction listings.
As a buyer I’d rather have $0 initial price and no reserve, and let the free market determine the price.
If the seller wants a fixed price then sell it as a fixed price item.
GoodFriendMike
Moderator
What is perfect for one is not for another. Please understand this.
When it comes to FigBid. Reach out to Danny if you have questions or concerns.
Issues can not be resolved here. Thanks for understanding.
When it comes to FigBid. Reach out to Danny if you have questions or concerns.
Issues can not be resolved here. Thanks for understanding.
NYCfigs
Active member
Good evening Fig Fanatics!
Reserve auctions are simply another tool sellers can use depending on the rarity, demand, and uncertainty of an item. A reserve allows bidding to start low and generate interest while also protecting the seller from being forced to sell far below what they’re comfortable accepting.
For example, a seller may have a rare or hard-to-source variety and honestly not know what the market is willing to pay at that moment. Starting the auction at $300 might scare people away immediately, while starting at $25 with a reserve encourages bidding activity and lets the market speak. If the reserve is met, the item sells. If it isn’t met, the seller can decide whether to relist, lower expectations, or accept that demand wasn’t there.
Reserve auctions are common across many auction platforms and industries. Some buyers love them, some don’t, and that’s okay — everyone has different preferences. The good thing about figBid is buyers have options. You can bid on reserve auctions, non-reserve auctions, fixed price listings, or simply skip listings that don’t fit your style.
At the end of the day, reserve pricing is usually less about “greed” and more about risk management for the seller, especially with rare varieties, limited inventory, or uncertain market conditions.
That said, last night I tested a new Advanced Search feature that will omit Reserve auctions from a member's search. Works pretty good on our staging site. Developer wants to know if I want to leave Fixed-Price listings in the search results, or, omit those as well. I told dev to leave the Fixed-Price listings in the search results. The feature should be live next week.
Reserve auctions are simply another tool sellers can use depending on the rarity, demand, and uncertainty of an item. A reserve allows bidding to start low and generate interest while also protecting the seller from being forced to sell far below what they’re comfortable accepting.
For example, a seller may have a rare or hard-to-source variety and honestly not know what the market is willing to pay at that moment. Starting the auction at $300 might scare people away immediately, while starting at $25 with a reserve encourages bidding activity and lets the market speak. If the reserve is met, the item sells. If it isn’t met, the seller can decide whether to relist, lower expectations, or accept that demand wasn’t there.
Reserve auctions are common across many auction platforms and industries. Some buyers love them, some don’t, and that’s okay — everyone has different preferences. The good thing about figBid is buyers have options. You can bid on reserve auctions, non-reserve auctions, fixed price listings, or simply skip listings that don’t fit your style.
At the end of the day, reserve pricing is usually less about “greed” and more about risk management for the seller, especially with rare varieties, limited inventory, or uncertain market conditions.
That said, last night I tested a new Advanced Search feature that will omit Reserve auctions from a member's search. Works pretty good on our staging site. Developer wants to know if I want to leave Fixed-Price listings in the search results, or, omit those as well. I told dev to leave the Fixed-Price listings in the search results. The feature should be live next week.
Italian4u
Well-known member
This may be best for the buyer but at the same time not always good for the seller. Usually the reserve is there for the seller to make sure an item does not sell for less that what the seller deems its worth. As a seller is if I stated at $0 and had no reserve who knows a tree might sell for $100 or it might sell for $20 or less than what it cost me to put that product to market. I would be operating in the red and as a business that is not good. There are generally two types of sellers I’ve identified on figbid and there may be more but the two I see most of is either the seller that does it on the side and it is a hobby for them and they just need to make enough to pay for soil and fertilizer and then those sellers that operate it as an actual business. I operate as an actual business so for me a $0 staring bid with no reserve financially does not make sense for me. However, to each their own. In the end items sold on FigBid they charge a listing fee, then they take a percentage of the sale so they as a business can pay for things and generate revenue along with PayPal or stripe taking their cut. We have to factor in the cost of shipping materials, labels, packaging materials, ink for the printer, postage, then uncle sam takes a cut. Then there is the cost of tree pots, stakes, rooting media, rooting hormone, fertilizer, water, electric if you grow indoors with a grow light & heating mat, bags, then the labor that goes into it. Everything chips away at that price that is paid. Different growers / sellers have different cost of operations some more and some less. Some auction items I have a buy it now button and some do not so the market can dictate its price. If the reserve does kit get met item simply does not sell and if it goes over the reserve well that is the market dictating it’s cost for that item. Simply for me and I can only speak for myself…a $0 starting bid with no reserve for not make sense on my end. For the buyer that would be great tho.
SubmarinePete
Well-known member
@NYCfigs Thanks for weighing in Danny. Yeah it would be nice for buyers if it us tweaked a little i think. I understand the use case you gave, and I remember REDACTED using it for that purpose years ago; although it was uncommon at the time, I thought it made sense. But now it seems like a lot of sellers are using it even though they know exactly what price they should be getting. It seems the reason they’re using it in my opinion is because when a person is browsing you see a good variety that’s listed at a lower price than it should be and you can’t tell that there’s a reserve price until you actually click on the listing. I think this drives engagement on those listings that have a reserve, and ultimately results in more activity on those listings. But I also think there’s a more subversive second order effect of this, which is that buyers find the site less usable and just disengage altogether.
Since we’re on the topic of Figbid site feedback, I don’t like that the site no longer displays who the last bidder was and what the price was. I like to see who I’m bidding against often times the people I’m bidding against are people I’m familiar with. Sometimes even when I’m not buying I just like to watch the bids to see who’s paying what. When that feature was removed, I think it made the site less entertaining and a place Im less likely to visit.
Just my thoughts.
Since we’re on the topic of Figbid site feedback, I don’t like that the site no longer displays who the last bidder was and what the price was. I like to see who I’m bidding against often times the people I’m bidding against are people I’m familiar with. Sometimes even when I’m not buying I just like to watch the bids to see who’s paying what. When that feature was removed, I think it made the site less entertaining and a place Im less likely to visit.
Just my thoughts.