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Most of minimum bids listed here are low. When you see really high minimum bids you usually are seeing a seller that is a dreamer or out of touch with reality. You can list a studio in Branson MO week 4 for $100,000. You will never get a bid but you have the right to set any minimum bid you want for any week you own. Minimum bid prices don't really matter, what matters is what the weeks actually sell for, if they even sell at all. The resale market is as low as I have ever seen it right now, and it might get even lower with our current economy.
A bunch of those really low min bids are real dog properties or seasons no one wants. If you saw the same thing on ebay, they would be $1 AND INCLUDE FREE closing costs---just to get rid of them. (Or go for $1 and not $100.) Here, closing fee seems to be Holiday at $395 or so. Reasonable closing costs, just that elsewhere you might not have to pay closing costs. Makes that min. bid kinda high...
There is a difference between a reserve and a minimum bid when is comes to selling strategy:
- Minimum Bid: Exactly what it says. The opening bid cannot be less that the minimum bid.
- Reserve: The reserve is often known only by the seller. The minimum bid is often much lower. Neither the seller or the buyer is obligated to sell/buy until the reserve is reached. This method is often used by sellers to test the waters when they are unwilling to let the unit go for a low ball price and/or don't know the real value. However, auctions with reserves often generate less interest, at least until the reserve is meet, so the final max bid will often be less than for a similar no reserve auction. Note: Bidshares.com works slightly different. After the auction closes, a seller can choose to accept the maximum bid even if the reserve has not been meet.