Ebay
Out of context: Reply #11
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Reserves are a way of building momentum and interest - it generates a 'hopeful' mentality (as in, "God I hope I get it for $2"). Auctions are all about momentum and this is why many "No Reserve" auctions get more - they build interest and momentum.
You should pay, that is why the fee is there, to avoid people that artificially escalate the price (which could be argued is unethical). You played, now you gotta pay.
The other thing to be wary of is where things are listed. I just got my car on ebay and svaed about $5k because the text in the listing was a little off - made you a little suspicious (including myself). But after further research I found out the guy was foreign, been here a long time but just no idea about ebay (his second auction).
There were only 3 of us that bid, where comparable cars easily had 20-30 bids. I got it, love it, impeccably maintained, exactly what I want and a super price.
Point being, do your homework.