Bidding on a Reserve Price Auction |
Reserve Price Auction
Some auction-style listings have a reserve price, a hidden minimum price, on their item.
How it works:
-
A reserve price is the minimum price a seller is willing to accept for the item.
-
As a buyer, you are not shown the reserve price, only whether or not the reserve has been met.
-
The seller is not obligated to sell the item if the reserve price is not met.
-
The winning bidder must meet or exceed the reserve price and have the highest bid.
-
When there is a reserved price, bid as usual, entering the maximum amount you're willing to pay for the item (proxy bidding)
-
Watch the label next to the current price to see whether the reserve price has been met. Until you see that the reserve price has been met, there have been no successful bids in the auction.
-
Once the reserve has been met, the item will sell to the highest bidder when the auction closes.
-
If your maximum bid is the first to meet or exceed the reserve price, the effective bid displayed will automatically be raised to the reserve price. (Proxy Bidding)
-
Reserve Price listing violations will be met with harsh penalties which may include account suspension for an indeterminent period.
Report listing violations or problems with another Biker Bids member.
If you have an additional question about this subject, please use the Contact Us page.
|
| Authored by: admin
|
|
Click Here to View all the questions in How to Buy
category. |
File Attachements |
| There are no attachment file(s) related to this question. |
| |
|
|
| There are no user comments for this question. Be the first to post a comment. Click Here |
Related Questions
|
- Trust and Safety
- FAQ - Buying
|