LIVE a NO RESERVE LIFE! - #SundaySermon - 054
Peter Saddington reflects on living a "no reserve life," drawing parallels from his experience selling a custom Formula 1-inspired car at auction without a reserve price. The core idea revolves around embracing risk and removing self-imposed limitations. He argues that a "no reserve" approach opens oneself to unpredictable outcomes, both positive and negative, fostering growth and excitement. Peter shares insights from the auction process, noting that adding a reserve removes the "fun" because potential buyers can easily assess the car's market value. He highlights the engagement with the online auction community, emphasizing the importance of genuine interaction and personalized communication to influence the auction's outcome. Ultimately, he frames the "no reserve life" as a mindset of embracing the unknown and challenging conventional boundaries.
Full Transcript (3701 words)
And today I realized and I wrote it down here in my notes that having my first ever No reserve auction on a car that I deeply cared for and I enjoyed immensely No shits. I took this thing out to the max guys. It's awesome I did everything I possibly could to push this thing to the to the max in every way that I could I could dream of Man, I sucked it. I sucked all the fun out of it. I sucked all the fun out of it And then I built many startups most of them a fail so Bitcoin is exactly the place that I like to be we're gonna end it right there Now doesn't this seem like a true Sunday sermon? Is it not here in the dark? My wife always tells me not to Not to read in the dark. She's right.
It's bad for the eyes. I got lots of Fake lighting here guys. There are a lot of fake lighting here You know what I want to talk about I Finally found it here. Here's my notes. I'm talking about in this Sunday sermon. I Want to talk about a no reserve life a no reserve life I experienced something I experienced something absolutely Life-changing it was life-changing and I'm not going to I'm not going to circle around it. I experienced something life-changing I sold a possession of mine I sold a possession of mine that I put two years of work into and I was able to create my best image of a car that I Absolutely was fond of in my In my younger years in my youth Formula one car And I was able I was able to create this thing a recreation of my own
hand my own mind my own brain my own thinking my own thoughts I was able to recreate this thing with the canvas that I had right Not a perfect canvas, but a canvas nonetheless and So I built it over two years over two years Created some great content had some created some great memories met some amazing people Created some amazing long life long relationships. I hope if not it's okay Because people move on but This has been it's been a great project and and and it's and so I sold this this car I sold this car and And I decided to challenge myself I decided to challenge myself and I challenged myself By putting this car up for auction With a no Reserve no reserve auction now if you've ever been in the auction world Having a reserve takes the fun out of the game
Right because people aren't stupid especially when you're selling these high-performance exotic cars People aren't stupid. They do the math. They understand the market some of them know the car market better than your average Sports lunatic knows sports and I'm telling you guys. I know some guys I know some people who could tell you you'd say hey Here's the car. I'm looking at here's the car. I want it's got You know it's this year is this many miles. It's done with all the details and this guy could literally buy memory Be like that's worth X And then I'll ask you some questions is have this trim this trim or that trim or just have this option Does it have this this bespoke you know thing what what what what additions have you made or whatever? I mean who asked you the question today like he spot
it's got You know it's this year is this many miles. It's done with all the details and this guy could literally buy memory Be like that's worth X And then I'll ask you some questions is have this trim this trim or that trim or just have this option Does it have this this bespoke you know thing what what what what additions have you made or whatever? I mean who asked you the question today like he spot on like with the market He knows exactly and there guys like this guys there guys who know exactly the value of these cars And so my point is is that when you put a reserve on an auto auction When you put a reserve on the auto auction you lose all the fun You lose all the fun Because people aren't stupid. They'll let us say okay your auction
off an X car with Y miles with Z looks and features Market says eh within a you know a couple grand differential. It's gonna be about this much and If the individuals price to sell the reserve is gonna be a little bit lower than that if this is not something serious and clearly By their communication they reveal that this is their car their jam and you're just privileged to be able to purchase it With that type of attitude then you know they're gonna the reserve is gonna be relatively within the out within the average marks of A car of that particular stature within the exotic car world And so having a reserve just takes all the fun out of it And so I've never done an auto auction like this before and so I I put up a Two-year build of passion and heart from
an a childhood memory of a formula one car and I transform this car into something just like it Two years of work passion and it also had many firsts in my opinion in the world Now that I have to qualify with my opinion because anybody showing up with any Guinness Book Award records here This is just me being me being me and one of the grand things about being me is that everything I do is first And you should think that way too And so I created this thing and I put my heart and soul into it and I sold it and I sold it at no reserve I Sold it at no reserve Because I wanted to do things differently I wanted to experience an experience that I had never experienced before I wanted to open myself up to massive Risk okay, I mean
a no reserve auction avails you the opportunity of the excitement of the game Some of the psychology and mental strategies of bidding and beating the timer some individuals use bots To place bids at last second intervals To beat someone out. I mean there are strategies and there are technologies used in these reserve auctions Which can make for quite a show and I've been a lurker in these auction in the car auction world for years And so for me like I understood that I understood that game And so you have the opportunity on a no reserve to make an exorbitant amount of money if You have you have created the appeal necessary for that particular exotic car To appeal to what you would hope is a democratic a targeted demographic that you know exists in this willing to pay Above premium for that type of car,
auction in the car auction world for years And so for me like I understood that I understood that game And so you have the opportunity on a no reserve to make an exorbitant amount of money if You have you have created the appeal necessary for that particular exotic car To appeal to what you would hope is a democratic a targeted demographic that you know exists in this willing to pay Above premium for that type of car, but you also run the risk of Making far less than what the average or the market is usually a willing or can take on the burden of Right, and so that's the fun the fun is the risk reward the fun is the opportunity to make lots of money in the Obviously with any type of gamble any type of bet There's the opportunity to lose your ass And
so I wanted to experience this and one of the one of the One of the pieces of guidance one of the pieces of guidance that was given to me by the individuals holding the auction Was they said engage engage with the community in the comments because if you engage with the community in the comments Generally your auction will fare better and here's the thing Well, he didn't realize that the individual on the other end of that email didn't realize is that they were talking to me And you know what? You know what that was built to engage Especially on the internet. I love it. It's my place. It's my playground. I enjoy it I'm all about testing waters. I'm all about testing new communities new groups of people Where you have to earn the respect and so I engaged I Engaged in my opinion probably
better far better than anyone had ever experienced on this particular auction site before individual replies contextually sensitive remarks Explanations that made sense no shortness a little bit of sassiness and just a smidge of humor Sometimes on the internet your humor can be seen off as being an asshole, which is Unfortunate, but it is what it is And so I engaged and I had a lot of fun doing it. It was great because it was part of the ending process Let's call it the the the the the the the grieving process. That's what I'm talking about This is part of the grieving process of giving away a two-year build that I had so much fun in had so many great experiences Went to so many unique places and met so many different people and like like this is this is Now for anyone out there. There's
not a car person and you know this might mean nothing to you But recondextualize it to something that matters to you for me. It's cars the personalization of cars and the experiences of where it takes me and the people I meet especially And so This is part of the grieving process and I wanted to be fully engaged in the death of this experience The end of the show right the end of the chapter in this particular builds life And you know what I have grown into an individual who's willing to share it online to a small select few of individuals within my community and it doesn't need to be a masterpiece It only needs to be for those who care and want to listen and So we did it and I engaged and we had a grand old time and with from the finale We
show right the end of the chapter in this particular builds life And you know what I have grown into an individual who's willing to share it online to a small select few of individuals within my community and it doesn't need to be a masterpiece It only needs to be for those who care and want to listen and So we did it and I engaged and we had a grand old time and with from the finale We even had a what I believed to be is a world first live stream of Of the auction in the final 10 minutes of the auction and you know what I had lots of fun I experienced you know and here's here's what's really I need to say before I forget Is that I experienced a nervousness and butterflies in my heart and gut That I hadn't experienced in years
guys I Am a confident individual with who I am of how I portray myself online and how I portray myself in the world I don't give two fucks with the internet says I just do as I do and I'm glad you guys are here listening And I really do respect you guys if you're willing to grind and make your life worth something Man, I'll tell you guys What an experience what an experience this was a no reserve auction a No reserve auction where I got to experience it fully had a great finale and you know what We ended up selling it and I had those butterflies that I haven't experienced in years, you know what Those butterflies brought me alive They brought me alive they brought me alive I I can I mean I was nervous. I don't guys I don't get nervous For those
of you guys who've known me from my previous life before this online stuff Right I spoke spoken in front of thousands of people and on the international stage For me Doing something online By my hunger by myself by my loansome in my own garage of comfort selling a car Come on But here's what my color commentary here belies But it belies is the fact that My butterflies and my nervousness Was due to the gravity of how important this car Was to me during two fantastic four-mulative years of my life And that I think is powerful. I think that's worth Understanding and I think that's worth diving into which is why I'm talking about it to you today a no reserve life a No reserve life You know to no reserve life avalanes you a no reserve life Avalued you the opportunity to experience butterflies and
nervousness and new experiences that you never would have experienced before Because you got the guards guard rails off you're willing to fail you're willing to eat the cost of that failure And you're willing to also be prepared to read the rewards on the other side of it And for my hopes for you guys. I hope that you win more than you lose But I'll tell you guys I open myself up to losing because even in the loss even in the L taking the big L to the face There are feelings and experiences that are worth leaning into and today I realized and I wrote it down here in my notes that having my first ever No reserve auction on a car that I deeply cared for and I enjoyed immensely No shits. I took this thing out to the max guys. It's awesome I did
I open myself up to losing because even in the loss even in the L taking the big L to the face There are feelings and experiences that are worth leaning into and today I realized and I wrote it down here in my notes that having my first ever No reserve auction on a car that I deeply cared for and I enjoyed immensely No shits. I took this thing out to the max guys. It's awesome I did everything I possibly could to push this thing to the to the max in every way that I could I could dream of Man, I sucked it. I sucked all the fun out of it. I sucked all the fun out of it And then it's time to move on and you know what? With the move on you can move on safely. You know what you can do? You
can put it back together you can make it look clean and you can sell it at the market rate no problem or You can give yourself the opportunity to tell the story to tell the story of why it looks like what it looks like and why your life Why that means something to you in your life and for me as you guys could probably imagine I appreciate the story of Life I appreciate what you do in life. I appreciate how you apply yourself in life And I appreciate that you if you're willing to take the guard rails off the safety rails off The floaties off then you will experience life fully You will I will tell you before the auction began I had butterflies and a nervousness that made me pace I don't pace. Okay. I'm a solid. I'm like I'm a solid thinker like
I sit and think I sit here and write very Focused I don't pace guys. I paced in and out of my garage You know like 10 minutes straight I mean come on is that experience worth it? Hell yeah, it was hell yeah, it was because once the auction ended and the experience was lived I Could tell you this story I could tell you this a story of why it reminded me of having of why it's so important to have a no reserve life It's so that I can experience just a little bit more of the spectrum of life All right, I was just talking with a friend that was just sitting down with me Here you just got off work and hit me up I must have been given off the right vibration guys because this is one of my only friends And he he
hit me up. He's like, hey man. Can I stop by after work and I was like bro I'm so fucking lovely and so we talked for two or three hours. It's great. It was awesome We reminded each other of why having a no reserve life is so important of why being Of open to the experience of life good about you good or bad you will fucking survive You will survive what you'll survive it and you'll be able to tell a story and You'll be able to grow into areas of life and meet oh man the best part I was this is it man because I'm all about communities and relationships you get When you have a no reserve life you get to meet people You get to meet people Out in the world that have different perspectives on life a different leaning in life a
You will survive what you'll survive it and you'll be able to tell a story and You'll be able to grow into areas of life and meet oh man the best part I was this is it man because I'm all about communities and relationships you get When you have a no reserve life you get to meet people You get to meet people Out in the world that have different perspectives on life a different leaning in life a different world you in life a different Way of doing things in life and they will challenge you for good or bad Take it. I hope that if as you get more mature with age as I am I hope that I learn how to take everything with the good and the good only And only allow the bad that I can't control to be meditated on and then moved
on from Have a no reserve life So how you it's the only way that you can have a life worth living is having a no reserve life a life that is full Especially with people especially with experiences man people experiences places you could go Things you could do Things you could eat let me just be honest guys like come on one of the best parts about like experiencing the world is you get to eat awesome food like Can I just interject for a second guys in this? Go eat go eat other go eat other fucking cultural food, please You have you don't know what delicious is you don't know what delicious is If you're if your palate is limited limited to Something that you just is good enough I Get good enough because I'm all I'm all about good enough. Just execute learn. Don't overthink
it Yeah, I get it good enough as it has its place contextually guys fucking go try Different cultural food the farther you move away from your your native native food choices the better Because you haven't experienced what delicious is yet I promised you and I've traveled the world my friends and I still don't believe that I've truly experienced food heaven you know And what happens when you experience different foods you invariably clash With other traditions cultures people languages behaviors nuances aesthetics and idiosyncrasies Good Good Have a no reserve life start with food. That's a great example of where to go I Experience life experience life When I did this No reserve auction it was awesome guys and I'm glad that I'm able to tell you about it I'm glad that I'm be able to I'm I'm cogent enough to be able to communicate it to
you guys It's awesome, and you know what I got paid regardless of whether it was with market rate or whether it was significantly lower than expected But you know what Yeah, it wasn't no I got I got I got market rate for how I Modified this car. Let's just put it that way. It's got my finger nail on it finger now. It's got my finger print on it guys So you know what you purchasing The PD style you purchase in the PD style kind of car Guys have a no reserve life Sometimes you win sometimes you lose but you'll experience something you'll learn something and it'll be fun man Go for those experiences meet those people do those things What other life you got to have to do it This is Peter the Bitcoin Lamb Bell if you appreciated this Sunday sale in their souls
it guys So you know what you purchasing The PD style you purchase in the PD style kind of car Guys have a no reserve life Sometimes you win sometimes you lose but you'll experience something you'll learn something and it'll be fun man Go for those experiences meet those people do those things What other life you got to have to do it This is Peter the Bitcoin Lamb Bell if you appreciated this Sunday sale in their souls This message like button share it subscribe Have a great day be positive stay the course you can do it You
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About the Creator
This video is part of a library of 780+ episodes published by Peter Saddington on staas.fund. Peter is a serial entrepreneur, venture capitalist (StaaS Fund, RegD 506B), and AI practitioner who has trained 17,000+ professionals in agile and AI methodologies. He bought Bitcoin at $2.52 in 2011, built 4 autonomous AI agents (the Council of Dogelord), and operates 10+ websites with zero employees. His AI Workshop has been attended by Fortune 500 teams, and his newsletter "The Agile VC" reaches thousands of subscribers weekly. Peter holds 3 Master's degrees (Divinity, Computer Science, Computational Operations Research) from institutions including Georgia Tech.