Having an auction with no reserve is really a good way to weed out tyre-kickers and non-serious bidders. It appears the seller set $69K as the minimum bid; and if there is 1 bidder at that price, that bidder gets the car. Would have been a good deal IMHO, but...Sometimes, the seller will panic when there are no bids 24 hours before the auction end and so pulls the listing; especially if he was expecting higher bids.
I just sold 2 cars on eBay with no reserve auctions, and I set the starting bid at the minimum I would sell the cars for. I didn't see any action until the last day. 1 car (Lotus Elan Sprint) had 16 bids and went for $10K more than I started it at, and the other (Porsche 550 Spyder) had 1 bid at my starting price...strange market out there. Timing is everything; buying or selling
