Scientists say "begin the bidding at a low value"
We're wired up to spend more money if auctions start low
An article in the latest edition of Current Directions in Psychological Science reviews studies on the best starting points to increase the final price in either negotiations or auctions. In general, start high in negotiations, start low in auctions.
One day I should attempt to put this in front of the Goodwill online managers. Their minimums are way too high.
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