GREED!

>>>>>At the end of the auctions as a seller, I would be dissappointed to find out some one was willing to pay a high bid of $60 and it went for $40.>>>>>

So you aren't happy at receiving your lowest acceptable price? Or would you rather that the bidders HIGHEST bid be accepted as the GOING bid. (Doesn't sound much like an auction to me, NOR does this "RESERVE" price stuff, as the Seller's should have some idea of what they have)

In the case of the auction I was involved with, the seller didn't describe the token or picture it. I placed my bid accordingly that it is most likely the token with the mispelling of the word "LIMITIED" and not the corrected one which is worth far more. Was I going to contact the Seller to find out, NO. It's a waste of my time when I am not THAT interested. Had there been a picture or accurate discription, then the token, if it were the 2nd issue would have gone much higher than my high bid and most likely would have met the "RESERVE". I was willing to pay just a little more for the 1st issue token which included the seller's higher mailing fee.

Let the sellers set their lowest minimum selling price as the Minimum Bid, and let the auction go from there.

I could care less if my high bid were shown especially if the RESERVE WAS NOT MET. At that point in time, it becomes a waste of my time as I posted my HIGH bid and am not going to bid again and again and again in order to pay more for something just to find out what the "reserve" is. That would be stupid and foolish on my part.

If my HIGH BID was shown as the HIGHEST bid and the Reserve is not met then other bidders would not have to go to the trouble of bidding $1.00 at a time to reach my HIGH BID, they only need to out bid me, even if their bids don't meet the Reserve.

As far as auctions go I've only sold using Rene's site

http://vegastoday.com/cgi-bin/vegasauction.cgi?casinoab

I just recently sold a NEW Nokia BLS-4 Lithium Ion battery for $10.00 which is sold in nearly any store for $79-$89, and I am quite happy with the sale as was the bidder who I sent to that auction from the NOKIA newsgroup. Rene's site doesn't get many bidders due to E-bay, but I like the fact that there are no fees. AND YES THERE ARE RESERVE AUCTIONS THERE.

Seems like everyone wants TOP $ for their items, so why use auctions? Buy a table at the convention, and chip/token shows.

OOP's not to mention those two bidders who over pay for chip or token(currently worth $10.00) from that casino they went to several years back because they didn't know that they could have gotten it much cheaper by finding a dealer who has lots of them for sell at the $10.00 instead of the $100.00 they may have paid a seller at auction, because of the bidding frenzy.

Would you be willing to stop these people from paying $100.00 on an item you started at $8 but buyable at $10.00 from almost any dealer? Or would you end your auction and offer both the bidders the item at $15.00? I doubt it.