What is a Reserve Price auction?
In a Reserve Price Auction, the seller has the option of setting a Reserve Price, which is a price below which the listing will not sell. The Reserve Price is higher than the Opening Value. A reserve price allows the seller to start the auction with an opening value below the reserve price to initiate bidder interest and determine the fair market value of an item. If the seller has set a Reserve Price you will see either a “Reserve Price NOT Met” or “Reserve Price Met” message on the listing page depending on whether the current bid is below, or at or above, this price. • Reserve Price NOT Met – The current amount of the highest bid is below the reserve price and the item will not sell at auction close. • Reserve Price Met – The current amount of the highest bid is equal to, or greater than, the reserve price and the item will be sold. If you are browsing the site for items, look to see if there is a Reserve Price Met image beside the item’s title. This image lets you know in advance i
In a Reserve Price Auction, the seller has set a Reserve Price, which is a price below which the listing will not sell. The amount of the Reserve Price is not disclosed (so don’t ask!). The Reserve Price is higher than the Opening Bid. In a Reserve Price Auction you will see either a “Reserve Price NOT Met” or “Reserve Price Met” message on the listing page depending on whether the current bid is below, or at or above, this price. • Reserve Price NOT Met – The current amount of the highest bid is below the reserve price and the item will not sell at auction close. • Reserve Price Met – The current amount of the highest bid is equal to, or greater than, the reserve price and the item will be sold.Once the reserve price has been met or exceeded, this auction is the same as a standard auction.
Sellers have the option of setting a hidden Reserve Price that is above the minimum starting bid. If a reserve price is in effect, then the seller does not have sell the item unless the high bid meets or exceeds his reserve. Auctions with a reserve price will be noted in their listing, describing whether the reserve has been met or not. The actual amount of the reserve price is not revealed to bidders, until it has been met. When you submit a bid on a reserve price auction, one of three things might happen: (1) If the reserve has already been met, then your bid will be submitted at one increment above the next highest competitor, in the same manner as an auction without a reserve price. (2) If the reserve has not been met, and your maximum bid is also less than the reserve, then your bid will be entered at one increment above the next highest competitor. (3) If the reserve has not been met, but your maximum bid is enough to meet the reserve, then your bid will be entered at exactly the
In a Reserve Price Auction, the seller has the option of setting a Reserve Price, which is a price below which the listing will not sell. The Reserve Price is higher than the Opening Value. A reserve price allows the seller to start the auction with an opening value below the reserve price to initiate bidder interest and determine the fair market value of an item. If the seller has set a Reserve Price you will see either a “Reserve Price NOT Met” or “Reserve Price Met” message on the listing page depending on whether the current bid is below, or at or above, this price. • Reserve Price NOT Met – The current amount of the highest bid is below the reserve price and the item will not sell at auction close. • Reserve Price Met – The current amount of the highest bid is equal to, or greater than, the reserve price and the item will be sold. If you are browsing the site for items, look to see if there is a image beside the item’s title. This image lets you know in advance if the reserve pric
In a Reserve Price Auction, the seller has the option of setting a Reserve Price, which is a price below which the listing will not sell. The Reserve Price is higher than the Opening Value. A reserve price allows the seller to start the auction with an opening value below the reserve price to initiate bidder interest and determine the fair market value of an item. If the seller has set a Reserve Price you will see either a “Reserve Price NOT Met” or “Reserve Price Met” message on the listing page depending on whether the current bid is below, or at or above, this price. • Reserve Price NOT Met – The current amount of the highest bid is below the reserve price and the item will not sell at auction close. • Reserve Price Met – The current amount of the highest bid is equal to, or greater than, the reserve price and the item will be sold. If the highest bid at auction close does not meet the seller’s Reserve Price, the seller is not required to sell the item unless the seller chooses to d
