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Old 14th January 2009, 07:59 PM
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Talking "Reserve Price" needs clarification

"Reserve Price" for auctions needs clarification.
Is it kosher or not?
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Old 14th January 2009, 08:08 PM
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Re: "Reserve Price" needs clarification

There is no problem with reserve price auctions. See below for more clarification

Quote:
* Reserve auction is an auction where the item for sale may not be sold if the final bid is not high enough to satisfy the seller - that is, the seller reserves the right to accept or reject the highest bid. In these cases a set 'reserve' price known to the auctioneer, but not necessarily to the bidders, may have been set in advance below which the item may not be sold. A reserve auction is safer for the seller than a no-reserve auction as they are not required to accept a low bid, but this could potentially result in a lower final price than might otherwise be the case if this means that less interest is generated in the sale.
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Old 14th January 2009, 08:10 PM
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Re: "Reserve Price" needs clarification

Quote:
Originally Posted by Miguel View Post
"Reserve Price" for auctions needs clarification.
Is it kosher or not?
I think the confusion you are referring to is when someone a while back listed a "no-reserve" auction, but it had a "high" minimum starting price (which is the same as "reserve auction" in my mind)

but as Fab says... nothing wrong with reserve auctions.
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Old 14th January 2009, 10:04 PM
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Talking Re: "Reserve Price" needs clarification

Thanks a lot guys
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