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Guest Simon*

2 no reserve E39 540's on TM

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Well, technically they shouldn't be cheap... Im a strong believer that $1 reserve brings out the true value of a vehicle

I don't believe that's the case.

TradeMe is not a true representation of all people in the market for whatever category you are talking about. It is therefore not the highest price you could get at that point in time [ie: 2 weeks], nor is it the true value.

In saying so, someone may be willing to pay more for the item than another in an auction, so the price is slightly higher than the 2nd person's highest bid. So just because 2 people have a budget of $5,000 and that's all a car gets, doesn't mean thats the true value of the car.

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