What Is Ebay Reserve?
A Note on Setting a Reserve Price
When you set a reserve price, you will have to show that you have a reserve price in place and that it has been met, but not the reserve price itself. If the highest bid is below the reserve price, you don't have to sell the item.
Add a Reserve Price to an eBay Auction
When selling an item in an eBay auction, sellers can choose to add a reserve price. Unless they state their reserve price in the listing, you won't know what it is until you either meet it or bid above it.
How to Buy a Reserve Auction
Reserve auctions began on eBay. There are more and more sellers using a reserve price. A reserve price can be confusing for buyers.
The reserve price is hidden from buyers. They can't see the reserve price in the auction. If buyers ask for a private message on eBay, some sellers will tell them that the reserve price is in the description area.
If you want to sell the item, it's helpful to share the reserve price. It's a bad idea to withdraw your bid if you found that your bid didn't meet the reserve, because you'll be in trouble with the auction house and the bidding will be higher than it should be. If you do not withdraw your bid when it doesn't meet the reserve price, you could be banned from eBay, which is against eBay rules.
The Auctions at the LHC
The minimum fee is $2.00 and the amount is 1% of the reserve amount. The purpose of a reserve is to protect the seller's investment while still giving the buyer a "carrot" to eat. The reserve is always a possibility, but it depends on the bidder's perception of the item's value.
The fun of sniping
You can place a higher bid to beat the software. Someone sitting on a computer is placing a bid with 2 seconds left. A bid is something that is being made.
People think that snipers are underhanded jerks. A simple code change at eBay that allows 2 extra minutes after a bid to allow people time to respond will ruin all the fun for snipers and restore some fairness and decency to eBay. The fun was taken out by sniping.
Ebay was a terrible place to be. Just shop Amazon now. Ebay lost its identity as it tried to be a store called Amazon.
The starting bid and reserve price
The starting bid is the amount of money a bidder is allowed to spend in an auction. The high bidder on the item will win it when the listing ends. Even if the starting bid is $0.
A reserve price is the amount you are willing to pay for the item. The Reserve Price is not visible to the bidders. The item will not be sold until the bidding reaches or exceeds the Reserve Price, which is the lowest bidder can place a bid.
A Rule-Based Approach to Online Auctions
There are two terms you should know before you head for the auction or computer auction. Knowing the difference between auctions could have a huge impact on your bank account. The seller of an auction item will only accept a sale if it is above the reserve price.
The seller will not accept anything less than the reserve price for the sculpture if it is up for bidding. The final price is not likely to be accepted as the starting price. Others will place higher bids until the highest bid is over $1,000.
The bidding can go much higher when several people want an item. When one by one bids increase, the bidders decide they don't want to pay more and they drop out. The auctioneer yells "sold!" when one bidder remains and the bid is equal to or more than the reserve.
The highest bidder gets it. The seller can either accept the highest bid or not sell at that price if all bids fall short. The seller of the sculpture with a $1,000 reserve can either sell it for that price or say no and remove it from sale.