What is an Opening Bid Price?
The opening bid price is listed on the item description and it is just as it states, the opening bid for that item. The opening bid may or may not be the minimum amount the seller is willing to receive for this item. If you place an opening bid and the item is then listed as ‘The Reserve Has Been Met’ and no one else bids on this item, you will become the winning bidder for this item. If you place an opening bid and the item still says ‘Reserve has NOT been met’ then you have not legally been bound to the purchase of this item. Only when the reserve price has been met are you legally bound to the purchase of this item.
