Thank youYour analysis is spot-on. Thats why I thought you were a (micro) economist. I particularly liked the last sentence (price-fixing vs buyer-finding).
PD: I have taught microeconomics for 25+ years.
Nice looking boat. Was that first photo taken during a knock-down?Ad is up! http://sailinganarchy.com/classifieds/show-ad/?id=3863
I decided to go biweekly on the price drops. Let the experiment begin....
I agree. It adds some finality: This boat is going to be sold, don't miss out.OTOH, the Dutch auction aspect does add a tiny touch of drama to the ad which might move a prospective buyer into action.
It can add finality. But if there's a reserve, then there is no guarantee of a sale.I agree. It adds some finality: This boat is going to be sold, don't miss out.
It's not in the ad, @Bull City .... but in this thread, @Illegal Smile wrote:
it seems like the worst that could happen is that no one buys the boat before I hit my reserve, or absolute lowest number I want to sell for?
I dunno what the general practice is in Dutch Auctions. But in this case the seller has not disclosed it.T.L., are you saying that the reserve is not made public in a reverse/Dutch auction? How about on eBay?
How do you handle the price change in the situation where someone's interested, looks at it, gets a survey, all of which may take a few weeks?
It is a "as is where is deal" as reflected in the selling approach and ultimate price.Good question. Haven’t thought of it. I imagine we could freeze the price at the point someone indicates they want to buy, pending survey, and then continue the auction if the sale doesn’t go through?