Greetings From Toad Town... again!

[Alexander of ATL.]

Good morning everyone!

As some may know I temporarily stopped the Live Auctions because of work restrictions and the continual conflictions between them both. I am proud to announce that the Toad Town Live Auction will return August 20th.

There are a few procedural changes to the auction house's operations. I will list and highlight in purple the newly adopted policy changes. Please read through them as this will be the standard order of operations that the Auction House will operate under moving forward.


***

Toad Town Live Auction General Information Guide


Greetings,

Welcome to the information guide for the Toad Town Auction House located on Atlantic. This guide will assist in the expectations of the auction house guests and the patrons who support us with their submissions. If there are any questions or concerns that are not answered here, please feel free to reach out to me. I will do the best that I can to answer any and all questions.

Alexander of Toad Town
Discord: Alexander of ATL.#6008
ICQ: 760215091
Stratics PM: Alexander of ATL.



Expectations for Auction House Guests

Bidding

• No False Bidding! If A Bid Is Placed And That Bid Is The Winning Bid, You Are Expected To Pay For That Winning Bid!!
• After Winning A Bid, Open A Trade Window With The Auctioneer To Pay For And Receive The Item(s)
• Bid Increments Are:
  • 0-20M = 1M increments
  • 20-200M = 5M increments
  • 200M+ = 10M increments

General Operations

• Lottery
  • Fifty (50) Possible Tickets Will Be Available For Purchase. These Tickets Can Be Found On The 'Lottery Vendor' Inside The Auction Floor
  • A Winning Lottery Number Will Be Generated Randomly! The Person With The Correct Winning Number MUST Be Present To Win
  • The Item For That Weeks Lottery Is Displayed On The Table Next To The Lottery Vendor
• Trivia
  • There Will Be Three (3) Opportunities For Trivia At Each Auction.
  • Trivia Questions Will ONLY Include Ultima Online Topics
  • The Winner of Each Trivia Question Will Be Presented An Option Between Multiple Chests. The Content of Each Chest Is Unknown. The Chest Chosen By The Trivia Winner Will Be Entitled To Its Contents.
    
• Item List Distribution
  • Item Lists Are Available To All Participants Via The 'Book' Steward! Simply Say 'book' And One Will Be Placed In Your Backpack
    
• Auction Frequency
  • Auctions Are Every Other Sunday Unless Otherwise Stated And Submission Cutoff Time Is That Friday, Or Two Days Before The Scheduled Auction Date
  • Auction Starts At 3PM Eastern. Gates Will Be Provided In Luna Starting At 2PM Eastern
  • For the complete schedule, click here.

Trolling & Banishments

• No Tolerance For Trolling! Anyone Found To Be Trolling Will Result In Immediate And Permanent Banishment From The Auction House
• Temporary Banishment Will Be Given On First Offense Violations Unless Otherwise Stated. Temporary Banishments Will Last One Month
• Secondary Offense Violations Will Result In Permanent Banishments! Permanent Banishments Are Indefinite
• In Times of Special Events That The Toad Town Auction House Is Affiliated With, Banishments Will Remain And No Pardons Given

Proxy Bidding

• Auction House Guests Who Cannot Make The Scheduled Time of the Auction Can Request A Proxy Bidder Through The Auction House.
• Proxy Requests Must Be Made Within 24 Hours of the Scheduled Auction Time
• Auction Guests Who Utilize The Proxy Bidding Tool Are Expected & Required To Pay For Any Won Items. Not Doing So Will Result In An Immediate Termination From The Auction House
• If There Is Not An Established Financial Relationship Between The Guest and the Auction House, The Guest Must Pay Their Proxy In Advance. If The Proxy Does NOT Win The Item Lot For The Guest, All Funds Will Be Returned

Expectations for Auction House Patrons

Submitting

• There Is An Item Limit Of 75 Items Per Auction. To Minimize Time, No Submissions Are Allowed After Such Limit Has Been Reached
• Submitting Item(s) Should Follow The Guide Placed In The South West Corner of the Auction House. (purple round bag)
• To Submit An Item To The Auction House, Hand Item(s) ONLY To Alexander (Toad) Or Simply Place The Item(s) In The Auction House Mailbox
• If A Submission Does Not Have A Start Bid Or Indication Of A Start Bid, The Item Will Be Returned And Not Be Auctioned
• Individuals Are Allowed A Maximum of 5 Entries Into the Live Auction. This Is To Make Sure Everyone Has An Equal Opportunity To Auction Items
• As Auctioneer, I Reserve The Right To Reach Out To Patrons If I Feel An Item Is At Risk Of A No Sale
• For An Item Lot To Be Submitted, The Value of The Item or Item Lot Must Be At Least 35M. If The Item Lot Does Not Meet This Value Requirement, The Item lot Will Be Returned. Per Discretion of the Auctioneer.
• If An Item Does Not Meet The Required Value of 35M, It Can Be Grouped With Other Items Until Such Value Has Been Achieved
• Auction House Patrons Are NOT Allowed To Bid On Their Own Items. Doing So Will Result In The Item Lots Being Returned & The Owner Refused Service At Future Auctions
• The Auction House Will Take A 5% Commission Charge On All Sold Items

** WHAT IS COMING SOON **

1. Toad Town's First, Fully Functional Website - *coming this fall*
2. Toad Town Discord Server - *coming this fall*
3. Toad Town Establishment Houses Fully Operational - *coming this fall*
4. Toad Town Halloween Event - *coming this fall*
5. Toad Town 2024 Road Map - *coming early 2024*

 

[Manticore]

awesome. My only recommendation would be raise the minimum value to 50-75mil Due to recent inflation and the amount of items out there. There Really aren’t good reasons why people Just can’t vendor lower end items but taking up auction slots and making people watch through it. As you stated, if they have small items, they can bunch them all together as single submission. Again, just a suggestion.

 

[Jason-]

Woot! Glad to see you back. UO is not the same without Toad Town Auctions in operation!

 

[Noxx of Catskills]

Welcome back.

 

[Buns Of Glory [ATL]]

Welcome back - ATL isn’t the same without Toad Town, hope all is well with you!

 

[panoramix2009]

Welcome back

 

[Gurur Yıldız]

3 p.m. ET is perfect update for us who lived in Europe, because previous times I fall a sleep while waiting, good

 

[Aftershock]

Welcome Back! Wasn't the same without your auctions. See you soon!

 

[Merlin]

Really great to see you back in action. Much appreciated on the road map and your schedule.

My one piece of feedback would be to note that some of the auctions began dragging to be rather long. I agree with previous comments here about raising the minimum of the value of items you'll accept. As an example, I would also suggest no longer taking bags of random armor and jewels. Unless someone is offering some truly uber-jewels or older 'no name' legendary armor with double digit number of mods that is otherwise no longer obtainable, I'd suggest trying to cut out random armor completely. Your strength is in EM items and other harder to find collectibles.

Best of luck - looking forward to the reopening!

 

[cosariberry2]

While the length of the auction can be a problem if it goes on too long, there is something to be said for a collection of smaller valued items available at the auctions. But I believe it needs to have a purpose or theme to the lot as a whole: ie, all double exceptional items, sets of seasonal collectibles, etc. But as someone who is not ATL-based but comes for the auctions and even lists at the auctions, its nice to have a place where items can sold when they'd otherwise sit on vendors for a very long time because they aren't frequently searched on VS (not to mention the weird quirks within VS or item names that make it hard to find certain things), especially for lower population shard, when the more serious "full set" collectors are on ATL.

So it's a very fine line that somewhere is likely to upset some in favor of others when it seems the common goal is to shorten auction duration.

And while I agree that the strength is in the EM items and other collectibles, sometimes the higher end practical items also have a lot of value when sold at auctions, especially when packaged together like a bundle of Fishing Pinks totaling 20.0pts of skill. But that's just my two cents.

 

[MrUber]

good to see you back altough the t
ime is about an hour earlier then i get home from work which is a bummer lol 5 ESTwould be better but just my two cents lol

 

[Alexander of ATL.]

I appreciate all of the feedback presented here. It is valued and it is listened to.

I understand the concern of the auction duration. Believe me, as someone who is the one continually typing bids and keeping track of everything for a solid three hours, the auction duration is something of a concern for me, too. That said, I also understand that there is an increased demand for auction submissions as the game is increasingly overpopulating the market with items. This can be from EM Events, IDOCs, or house cleaning, etc. I also understand that me going to bi-weekly doesn't help the demand for auction space when that same demand was prevalent when I had weekly auctions. This is where we are currently and I am open to any and all feedback. I feel soliciting feedback can only improve the outcome, so I am not against changes in operation.

My reservation comes down to an equal balance between the patrons who submit items and those that are guests who attend. For our patrons, having to compete for space because the auction fills up almost immediately proceeding an auction is not only frustrating but is also a deterrent to become involved. My goal in bringing the auction back, and subsequently maintaining Toad Town was to encourage community engagement and at this moment the live auction is the only attribute of Toad Town that offers that. On the other hand, for our auctions guests, I also understand sitting through a three hour auction is not ideal, especially of ones interest is only on one particular item.

I am not opposed to increasing the minimum value limit higher than the current 35M. A recommended price that I saw was 50M. This policy was put into place to curb submissions that had no marketable appeal for a live auction setting. Increasing the value limit to 50M or even 100M would not solve the auction duration. My last auction on August 20th had 73 items in it. Of those that did not meet the threshold of 50M were about 10 items. Items that would not meet the 100M value minimum increases to around 15-20 items. (this is subjective because if you ask 5 different people the value of an item, you will get 5 different answers). However, at the start of this previous auction, I had 30 submissions already processed and submitted for the next auction dated September 3rd. Baring that in mind, the demand would still be the same and the auction would still be three hours long.

That leaves us with the next point...

If raising the minimum value to a reasonable limit does not curb the demand, what are our other options?

I could take fewer items. A suitable auction duration should be an hour and a half to two hours maximum. This would account for 40 items maximum which would create a two hour auction. This would solve the auction duration concern but leverage that over the demand for submitting items. When I brought the auctions back, I started out maxing my limit to 40 items. I quickly bumped that up to 50. Then 60. And now 75. The reason because of this is because I started having a back log of items that filled up my auctions weeks in advance. I'm talking 3 weeks in advance.

And to the next point...

Higher end items can do very well at a live auction or very poorly. This is neither the fault of the auctioneer, the owner of the item, nor the guests who choose to frequent the auction house. It is only natural in this type of setting. This is why many or most high end items will most certainly have a reserve or higher start price, understandably. Consider it a type of insurance that a high end item doesn't sell for half or less its value. Increasing the minimum value limit exponentially could have the adverse effect of scaring away those who submit. Or, have an auction with high start prices which would cause mass no sales or even scare off guests.

It is truly a balancing act between the two.

This leaves us with a few options, of which I have not committed entirely to any of them:

1a. Cut off item submissions at 45 items and bump the minimum value to 50M.
1b. Cut off item submissions at 55 items and bump the minimum value to 100M.
1c. Cut off item submissions at 65 items and bump the minimum value to 150M.

This solution can be a happy medium between the two to curb lower end items and make an auction worth while to attend for those primarily seeking EM Event Rewards etc. This does invalidate the freedom of a returning player auctioning stuff, or as previously mentioned, bulking items together within theme to sell. I can think off collectible sets of items that do not reach the minimum value of 150M but there isn't really an advertised market elsewhere to sell such items. Where do they go? How does this help the overall goal of building community?

2. Solicit another auction house to be opened and operated on Atlantic. Toad Town could work with them and collaborate together. They can run their auctions on the weekends that Toad Town is off through the bi-weekly auction rotations.

I am personally more favorable to this option because there is a demand for a weekly auction. Unfortunately, I can no longer meet that demand with my real world work obligations. Having another auction house available for patrons to submit to both the Toad Town auction house and this new one would curb some of the demand where I can lower my item threshold, which would solve the auction duration concern. It would also be in line with my goal for Toad Town which is to encourage community involvement.

Which leads me to my last and final point...

I am completely in favor of another auction house opening on Atlantic. I am sure this doesn't need to be said but I will say it nonetheless. Multiple auction houses can sometimes be seen as competition. I do not view it that way. I am currently working on a coalition project that creates a network between auction houses across other servers. I feel this broadens the potential for community engagement by having a resource system available for all auction house auctioneers, attendees, and patrons. It's broad and its big but it is a project I am working on.

I'll end this by stating that I an open to all and any feedback, recommendations, concerns, or passing comments. There is always room for improvement. I wanted to take this moment to kind of outline where the auction house is at, acknowledge the concerns, agree with them, and offer a few ideas for a solution. For now, the auction house will remain as is but the door for changes will stay open. I am open to changes. I just do not want to make a miscalculated change.

Also, thanks everyone for the discussion. I look forward to hearing more recommendations on here or through private messaging.

 

[lance098]

I quit going because it took too long and started to get a bunch of junk in the auction. My two cents

 

[Fortis]

bumping reserve to 100-150 mils will not be good i think...i went to the sunday auction and majority of the unsold items was over 100 mils reserve

 

[Merlin]

I appreciate all of the feedback presented here. It is valued and it is listened to.

I understand the concern of the auction duration. Believe me, as someone who is the one continually typing bids and keeping track of everything for a solid three hours, the auction duration is something of a concern for me, too. That said, I also understand that there is an increased demand for auction submissions as the game is increasingly overpopulating the market with items. This can be from EM Events, IDOCs, or house cleaning, etc. I also understand that me going to bi-weekly doesn't help the demand for auction space when that same demand was prevalent when I had weekly auctions. This is where we are currently and I am open to any and all feedback. I feel soliciting feedback can only improve the outcome, so I am not against changes in operation.

My reservation comes down to an equal balance between the patrons who submit items and those that are guests who attend. For our patrons, having to compete for space because the auction fills up almost immediately proceeding an auction is not only frustrating but is also a deterrent to become involved. My goal in bringing the auction back, and subsequently maintaining Toad Town was to encourage community engagement and at this moment the live auction is the only attribute of Toad Town that offers that. On the other hand, for our auctions guests, I also understand sitting through a three hour auction is not ideal, especially of ones interest is only on one particular item.

I am not opposed to increasing the minimum value limit higher than the current 35M. A recommended price that I saw was 50M. This policy was put into place to curb submissions that had no marketable appeal for a live auction setting. Increasing the value limit to 50M or even 100M would not solve the auction duration. My last auction on August 20th had 73 items in it. Of those that did not meet the threshold of 50M were about 10 items. Items that would not meet the 100M value minimum increases to around 15-20 items. (this is subjective because if you ask 5 different people the value of an item, you will get 5 different answers). However, at the start of this previous auction, I had 30 submissions already processed and submitted for the next auction dated September 3rd. Baring that in mind, the demand would still be the same and the auction would still be three hours long.

That leaves us with the next point...

If raising the minimum value to a reasonable limit does not curb the demand, what are our other options?

I could take fewer items. A suitable auction duration should be an hour and a half to two hours maximum. This would account for 40 items maximum which would create a two hour auction. This would solve the auction duration concern but leverage that over the demand for submitting items. When I brought the auctions back, I started out maxing my limit to 40 items. I quickly bumped that up to 50. Then 60. And now 75. The reason because of this is because I started having a back log of items that filled up my auctions weeks in advance. I'm talking 3 weeks in advance.

And to the next point...

Higher end items can do very well at a live auction or very poorly. This is neither the fault of the auctioneer, the owner of the item, nor the guests who choose to frequent the auction house. It is only natural in this type of setting. This is why many or most high end items will most certainly have a reserve or higher start price, understandably. Consider it a type of insurance that a high end item doesn't sell for half or less its value. Increasing the minimum value limit exponentially could have the adverse effect of scaring away those who submit. Or, have an auction with high start prices which would cause mass no sales or even scare off guests.

It is truly a balancing act between the two.

This leaves us with a few options, of which I have not committed entirely to any of them:

1a. Cut off item submissions at 45 items and bump the minimum value to 50M.
1b. Cut off item submissions at 55 items and bump the minimum value to 100M.
1c. Cut off item submissions at 65 items and bump the minimum value to 150M.

This solution can be a happy medium between the two to curb lower end items and make an auction worth while to attend for those primarily seeking EM Event Rewards etc. This does invalidate the freedom of a returning player auctioning stuff, or as previously mentioned, bulking items together within theme to sell. I can think off collectible sets of items that do not reach the minimum value of 150M but there isn't really an advertised market elsewhere to sell such items. Where do they go? How does this help the overall goal of building community?

2. Solicit another auction house to be opened and operated on Atlantic. Toad Town could work with them and collaborate together. They can run their auctions on the weekends that Toad Town is off through the bi-weekly auction rotations.

I am personally more favorable to this option because there is a demand for a weekly auction. Unfortunately, I can no longer meet that demand with my real world work obligations. Having another auction house available for patrons to submit to both the Toad Town auction house and this new one would curb some of the demand where I can lower my item threshold, which would solve the auction duration concern. It would also be in line with my goal for Toad Town which is to encourage community involvement.

Which leads me to my last and final point...

I am completely in favor of another auction house opening on Atlantic. I am sure this doesn't need to be said but I will say it nonetheless. Multiple auction houses can sometimes be seen as competition. I do not view it that way. I am currently working on a coalition project that creates a network between auction houses across other servers. I feel this broadens the potential for community engagement by having a resource system available for all auction house auctioneers, attendees, and patrons. It's broad and its big but it is a project I am working on.

I'll end this by stating that I an open to all and any feedback, recommendations, concerns, or passing comments. There is always room for improvement. I wanted to take this moment to kind of outline where the auction house is at, acknowledge the concerns, agree with them, and offer a few ideas for a solution. For now, the auction house will remain as is but the door for changes will stay open. I am open to changes. I just do not want to make a miscalculated change.

Also, thanks everyone for the discussion. I look forward to hearing more recommendations on here or through private messaging.

Very thoughtful and constructive response to the feedback you've received.

Most importantly, I do think you really need to give consideration to raising the reserve a bit higher. 35m is a good start, but if that doesn't change the problem of having too many items and the time it takes to get through these auctions - I would suggest you progressively raise a bit higher until you reach a sweet spot. It might be a useful exercise to raise the floor to 100m+ one week just to see how much of a change that would have.

If those changes reduce the overall time, brings back more patrons and makes your life easier... I would guess that it would also result in higher attendance, more bids and ultimately more revenue to yourself and those you're auctioning on behalf of. A rising tide lifts all boats! It might not happen after just one week, but it will help solve solve the perception of many auctions running too long.

Another idea would be maybe having a "themed" auction of sorts on various occasions. Some could be seasonal... an easy example being to have an auction in December featuring mainly Christmas and other holiday related items... or an auction in February for all Valentine's themed items. And maybe other times you try themes more specific to items - in example, an auction focused on popular hues such as golden man, wildfire and the demonic forces colors. Or maybe a "high rollers" auction where you only feature EM items with a reserve of 200m+ and are atleast two years old. I am sure the community can offer other ideas...

By all means, I know implementing these suggestions are easier said than done. You deserve the praise of the Rares community for your hard work, time and effort put into this. I know it isn't easy. Implementing an idea like the themes I suggested would probably take more time, planning and thought - which might defeat the purpose of trying to simplify the process - but might be more engaging and garner more interest from buyers who might be interest in a specific topic. The respect you have from the community and and the trust others place in you is something important and prestigious - it's a big reason why you have one of the most desired auction houses in the game.

On the topic of competition - aside just from your live auctions, have you considered promoting an on-going silent auction house in Toad Town? A house full of auction safes with items that you broker on behalf of others who have a longer time frame to make a sale than a live auction? The adjacent house east of the auction house - looks like there is alot of open space there. Perhaps you could add that to your offerings and see if maybe some of your customers would instead prefer to lend an item to you longer term to broker rather than throwing it in the auction and hoping for the best. Some of the houses that I have which have a large number of items get a significant amount of foot traffic - you should give consideration to maximizing the potential of that location. This also might reduce number of items in the live auctions, but still end up with same amount of sales.

Keep up the good work - best of luck!

 

[Manticore]

Here are the problems:

1. Main reason why items aren't hitting the reserves because seller think their item is worth something when it's not. It could be because they don't understand the market or got ripped off by other sellers and now they want their money back. It's a quite bit of work on Alex if he can police that, i.e. when someone submits an item that's worth 50 mil and starting bid is 100 mil, he can just return it to the submitter or readjust the reserve.

2. In looking at last week's auctioned prices, it clearly shows that people who are bidding are looking for bargains and if that's the choice between the seller and buyer, there is nothing wrong with that.

3. Right now, there are literally 500-1,000 items on auction safes across Atlantic and many items are repeated and yet people are not buying. Well, that's because thanks to Mesanna's auto drop program, the market is overflowed with items. Is it a good thing or bad thing who knows. I know sometimes I like it and sometimes I don't LOL

so back to the live auction, tell you the truth, i missed the days of rare festival whereby Nails and others ran the silent auction with super high end items and I was hoping Alex's auction had some of that flavor.

 

[cosariberry2]

Very thoughtful and constructive response to the feedback you've received.

Most importantly, I do think you really need to give consideration to raising the reserve a bit higher. 35m is a good start, but if that doesn't change the problem of having too many items and the time it takes to get through these auctions - I would suggest you progressively raise a bit higher until you reach a sweet spot. It might be a useful exercise to raise the floor to 100m+ one week just to see how much of a change that would have.

If those changes reduce the overall time, brings back more patrons and makes your life easier... I would guess that it would also result in higher attendance, more bids and ultimately more revenue to yourself and those you're auctioning on behalf of. A rising tide lifts all boats! It might not happen after just one week, but it will help solve solve the perception of many auctions running too long.

Another idea would be maybe having a "themed" auction of sorts on various occasions. Some could be seasonal... an easy example being to have an auction in December featuring mainly Christmas and other holiday related items... or an auction in February for all Valentine's themed items. And maybe other times you try themes more specific to items - in example, an auction focused on popular hues such as golden man, wildfire and the demonic forces colors. Or maybe a "high rollers" auction where you only feature EM items with a reserve of 200m+ and are atleast two years old. I am sure the community can offer other ideas...

By all means, I know implementing these suggestions are easier said than done. You deserve the praise of the Rares community for your hard work, time and effort put into this. I know it isn't easy. Implementing an idea like the themes I suggested would probably take more time, planning and thought - which might defeat the purpose of trying to simplify the process - but might be more engaging and garner more interest from buyers who might be interest in a specific topic. The respect you have from the community and and the trust others place in you is something important and prestigious - it's a big reason why you have one of the most desired auction houses in the game.

On the topic of competition - aside just from your live auctions, have you considered promoting an on-going silent auction house in Toad Town? A house full of auction safes with items that you broker on behalf of others who have a longer time frame to make a sale than a live auction? The adjacent house east of the auction house - looks like there is alot of open space there. Perhaps you could add that to your offerings and see if maybe some of your customers would instead prefer to lend an item to you longer term to broker rather than throwing it in the auction and hoping for the best. Some of the houses that I have which have a large number of items get a significant amount of foot traffic - you should give consideration to maximizing the potential of that location. This also might reduce number of items in the live auctions, but still end up with same amount of sales.

Keep up the good work - best of luck!

All of these suggestions are great ideas for helping to facilitate a smoother auction flow with a shorter duration and you could probably incorporate all of these ideas together. I don't think making the reserve higher than 50m is a good idea unless you are doing a specific "high rollers" auction. From my recollection, a lot of items typically sold for somewhere between the 100-250m with there, of course, being outliers in both directions. As someone who is not ATL based and has most of my gold on other shards, it can sometimes feel discouraging if I'm in a situation where I have less gold than I usually keep on ATL for spending at an auction, especially if an item comes up that I really like that might've gone for 100-150m but due to the higher minimum, is now fetching 250m+.

Regarding the silent auction idea: This is definitely an option but even more so, using the silent auction as a way to still broker some of the smaller end items (themed bundles, higher end scrolls or artifacts, etc.) If it's a bundle though, an auction safe wouldn't work. Perhaps a display with a book listing starting price and a box for people to drop a book with their bid & contact info that is occurring simultaneously as the regular auction (perhaps in an adjacent house). Once the live auction is over, all silent bids cease and you determine the winners and notify them? This could be in addition to the auction safe idea too.

 

[Smoot]

i like low value items at auctions. usually not to personally buy, but to allow all to participate not just the uo "rich". also a great way for players to make gold because lower value items tend to over perform at auctions, higher end (500m-plats value) under perform. many EM items arent even worth 50m now, but 50m is still alot for many attendees, especially if they plan on buying more than 1 item. i would hate to see no "beginner rares" at auction.

length of auction should really be up to you. attendees arent required to stay for the entire auction. i often show up late if theres something i want later in the list, or leave early if what im interested in comes up early on.

 

[Fortis]

it s an auction so i dont understand at all why items should start with high reserve. people go there for good deal...if reserve go higher than 175 mils i dont understand the difference between the auction and auction safe. from my understanding people putting items for sale at auction want them to be sold so it should ahve no reserve on any items.