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Auctions Help

Reserve Price Auction

It is important to note that some auctions come with a reserve price (a hidden minimum price). This is the lowest price the seller is willing to accept for the auction item.

When submitting an auction, the seller supplies a starting price. This amount is usually low in order to attract bidders who then drive up the price naturally, via placing bids.

The seller can also choose to set a reserve price as a protection against unreasonable low bids. This reserve price is higher than the starting price. If the reserve price isn't met by the end of the auction, the seller does not have an obligation to sell the item even if there is a high bidder. Neither bidder nor the seller will be under obligation to complete the sale transaction.

If an auction has a reserve price that hasn't yet been met, this will be indicated accordingly in the listing page.

The seller usually specifies a reserve price when they are not sure of the real market value of an item and wish to avoid letting go at an unacceptable price.

When you're bidding for a Reserve Price Auction, simply bid as usual by entering the max amount you're willing to pay for the item. Pay attention to the listing page to see whether the reserve price has been met. Until you see that the reserve price has been met, your bid is considered unsuccessful even if you are the highest bidder by the end of auction.

If you are placing a max bid that is higher than the reserve price, the system will automatically raise your bid up to the reserve price in order for you to be the highest bidder.

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