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Charlie, Why do you hear about people getting upset because they had to pay the sellers and the buyers premium just to get thier title back?? Weve all heard about the Crossram car from OK, that the seller had to cough up 20K plus just to have them release his car back to him, is that a false story??????
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I think the point of contention is the term no-reserve; and it is a valid term. At a reserve auction you pay nothing but a stiffer enrty fee; if the car does not sell take it home. In a no reserve if you ended up buying your car back directly or not, you are paying buyer AND sellers fee. What does this mean. You did not have a reserve and the car sells to the highest bidder. If that bidder is you, it cost you money that it does not cost in a reserve auction. The goal of no reserve is to let people know the car really is for sale and it is. In short , I see no problem with the term "no-reserve" as it is very diferent from a reserve auction.
My $.02
JOHN