Setting A Reserve Price On An Item

When participating in an auction, you might come across the term “Reserve” or “Reserve Price.” But what does it mean, and how does it affect both sellers and bidders?

What is an Auction Reserve?

An auction reserve is a safety net for sellers. It’s a predefined minimum price that a bid must meet or exceed for an item to be sold. This ensures that high-value items aren’t accidentally sold below their worth.

How Does It Work?

Setting the Bar: When a seller lists an item, they can set a reserve price. This is the hidden minimum amount they’re willing to accept for the item.
Bidding Process: As bidders place their bids, they’re unaware of the reserve price. The excitement of the auction continues as usual.
End of Auction Outcomes:

Reserve Met: If the highest bid equals or exceeds the reserve price as the auction ends, the highest bidder is declared the winner.
Reserve Not Met: If bidding fails to reach the reserve price, the auction concludes without a winner. The item remains unsold.

“Reserve Not Met” Meaning

If a bidder does not meet the reserve price, they will see the message “Reserve not met” in red near the bid box on your item page. Their bid will register (see the “You are the highest bidder” message in the example below), and other bidders can outbid them, but if no bidder reaches the reserve price no one will win it.

Below are the steps on how to add a reserve price to an item:

Step 1) From the “Add/Edit Item” page > click the item you want to add a reserve amount.

Step 2) Check the “Set a Reserve Price” under “Advanced Features,” then enter the item’s set reserve price.

Step 3) Click the “Save” button to save your changes.

Instructions for CLASSIC users:

Using the reserve feature to an item can be done by entering a price value in the reserve field. This means that the item will not sell unless that reserve price is exceeded.

Step 1) Click “Auctions” > Click on “Manage Auctions“