Reserve not met on Alaskan state jet

A second round of bidding has still failed to find a bidder for Alaska's state jet. Officials are now saying that they may turn to a broker to sell the plane instead.

It's interesting that now, the Governor's office are revealing that they need "about two and a half million dollars to break even" on the aircraft. When the plane was first relisted, a spokesperson resolutely refused to reveal the reserve, though did state that the plane had cost US$2.6m. Frankly, I think they're being optimistic to think they can break even on a second-hand jet, and should take their highest bidder's offer.

But the real moral of the story is that hidden reserves don't help anyone. eBay buyers like transparency, so if you want US$2.5m for your old jet, it's probably best to say so.