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I've already gotten one bid on my <snip> My starting bid price has been met. Yes, the buyer who is denied at his FFL will have to eat every penny for it's return to me or keep it there on consignment.
I think penny starting bids might still be risky, especially for something not so special. If I did that on my <snip>, the best I might get for it might be $50 or maybe less.
What if $50 was the best bid at the close of the auction and I were to refuse to sell the gun anyway and keep it? Could I get in legal trouble for backing out of the deal? I don't think I can raise the "starting bid" once somebody posts a bid.
Most auction sellers on gunbroker have guns listed no reserve. GB charges 2% for reserve. When is it ever advantageous to have a reserve?
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You do not back out if your price doesn't get where you want it to be. If you really need to get a certain minimum, then start it at the minimum and you will see if the market agrees with you.
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"I believe that people have a right to decide their own destinies; people own themselves. I also believe that, in a democracy, government exists because (and only so long as) individual citizens give it a 'temporary license to exist'—in exchange for a promise that it will behave itself. In a democracy, you own the government—it doesn't own you."- Frank Zappa
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