Well, most of us anyway.
This terrific article about a study of eBay buyers and sellers proves it. In some categories, more than 40% of the auctions went for more than the Buy it Now price. Hmmmm. Two tips from the end:
- Set low opening prices. When choosing between identical items, buyers
seem to favor whichever auction has the most bids. The best way to grab
early bids: Start with a cheap price. By the time a $1 DVD auction
reaches $10, it will probably attract more newcomers than a DVD that
started at $10.
- Don’t use secret reserves. A study of online auctions with and without
hidden minimum prices showed that many buyers steer clear of items with
a secret opening price. It’s like that old shopping joke, "If you have
to ask how much it costs, you can’t afford it."