What is a reserve price?
Each item has a reserve price. In the event that there are no bids for an item equal to or greater than this price when the auction ends, the item may not be sold to the high bidder. The reserve prices range from 50% and greater of the actual retail price of the item. The reserve prices are fixed values that have been set by the Auction Committee and will not be altered after bidding is underway.
A seller can set a reserve price for an item. The reserve price is the minimum amount the seller will accept for the item. If the reserve price is not met, the seller is not required to sell the item. The reserve price is hidden from all bidders. Because the reserve is hidden, many people do not like to bid on reserve auctions. If you feel you need to get at least a certain amount for a given item, you might consider using a higher starting price instead of a reserve. That way, potential bidders can see what’s really going on with the auction. If you make the starting price a mouth-watering *bargain* price (but not a total giveaway) you may find that you get much more interest and bidding on your item.
A seller can set a reserve price for an item. The reserve price is the minimum amount the seller will accept for the item. If the reserve price is not met, the seller is not required to sell the item. The reserve price is hidden from all bidders. However, the seller may also choose to sell the property at the highest bid even if the reserve is not met or enter negotiations with any or all bidders to achieve the highest price, even if it is less than the reserve price. This can only happen AFTER the expiration of the auction for that property.
The reserve price is the lowest price at which a seller is willing to sell an item. If the bidding does not meet or exceed the reserve price, the item will not be sold. The reserve price is never disclosed to bidders. The product detail page will inform you if the reserve price has been met or not. If a listing does not have a reserve price, the seller has agreed to sell to the highest bidder and cannot refuse for any reason. This reserve price should be above the minimum bid price. The auction begins at the minimum bid price.
The Reserve Price allows the seller to set a minimum price at which they are willing to sell the item being auctioned. Many sellers start auctions at a low price to encourage bidding, but set a Reserve Price to keep the auction from selling for too little. In the event that an auction ends without meeting the Reserve Price, the seller and bidder are not obligated to complete the transaction with each other. The seller may negotiate with the winning bidder for an acceptable price, or they may cancel the sale and relist the auction. In the event that the Reserve Price is met, or there is No Reserve on an auction, both the seller and the buyer are legally obligated to continue with the transaction as normal.
