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#4
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Rolling the dice. He is taking a gamble and should be commended for taking the risk. Clearly if he values the part at more than $9.99 he is confident it will sell for more than that. It is like investing money. What is your aversion for risk? If you have a low aversion for risk, a no reserve auction is not for you. If risk is your cup of tea, a high aversion/no reserve it is.
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