What Happens If Reserve Is Not Met?

Is an auction without reserve an offer?

A sale at auction is nominally an offer by the owner to sell a property to the highest bidder without any qualification, unless the owner reserves to him or her openly at the time of the sale, the right to bid upon the property, or openly announces a price below which the property will not be sold..

What does it mean when reserve is off?

The reserve price is usually unknown to the bidders, although they are aware there is a reserve. When the seller removes the reserve, that means they have removed that minimum price, and the highest bid now gets it, regardless of how low the bid is.

How much does eBay charge for a reserve?

There are two main types of selling fees: an insertion fee when you create a listing, and a final value fee when your item sells….Auction-style listing example 2.Final value fee$750.00Gallery Plus fee$0.70International Site Visibility fee$0.40Reserve price fee (7.5% of $400)$30.003 more rows

Why is the reserve price hidden on eBay?

According to eBay, A reserve price is a hidden minimum price—essentially, the lowest price you’re willing to accept for your item. … She may be worried that such a high starting price on an auction will deter buyers and no bids will be placed.

How do you know if an eBay item has a reserve?

You have to click through to the Listing Page for the particular listing to find out if there is an unmet reserve (will say “Reserve not met” under the “current bid” amount) and from there to the Bid History Page (click on the # of bids on the Listing Page) to find out if there is a reserve that has been met (will say …

Should I tell bidders what my reserve is?

If the reserve price is not met, the only way of communicating what it is to buyers is to simply tell them what it is. … Alternatively, if you are a buyer interested in bidding on an auction with a reserve price, it would behoove you to simply ask the seller what the reserve price is.

When bidding What does no reserve mean?

In basic terms, a car being sold at Reserve means that there has been an undisclosed minimum sale price set by the seller who brought the car to auction. … When a car is being auctioned at No Reserve, it is for sale with no restrictions. The highest bidder will get the car with zero threshold to meet.

Does eBay charge a monthly fee?

When you first subscribe, you’ll choose between automatic monthly or yearly renewals. For either option, eBay charges the subscription fee on a monthly basis.

How much is the fee for a reserve price?

$2.00 of this fee is a reserve price fee and would be refunded if your item sells. If it does not sell, you will not be entitled to a refund of the $2.00. You may have noticed that if the item fails to sell using a reserve price auction scenario, it would cost you $2.00 more than just starting the bidding high.

Should I disclose my reserve price on eBay?

It’s to prevent the item from being sold for any less than the Reserve. There’s no reason at all to keep it a secret. Obviously, savvy sellers just start their auction price at the lowest price they’d be happy to accept (which would be the same as their Reserve price) and don’t get hit with a large listing fee.

Can bidders see reserve price?

A reserve price is the lowest price you’re willing to sell an item for. Bidders can’t see the reserve price, but they’ll see whether or not it has been met.

What happens if you back out of an auction?

In the end, it is up to the Organization running the auction to decide whether to honor the request. If the winning bidder would like to back out after the close of the auction, you can offer the item to the next highest bidder, or close the item as Not Sold.

What happens if you are the highest bidder but the reserve isn’t met?

A reserve price is the minimum amount the seller is willing to sell an item for. If the reserve price isn’t met, the item won’t be sold. … If you bid below the reserve price, you’ll see a “Reserve not met” message. This means that even if you’re the highest bidder at the end of the auction, you won’t win the item.

What happens if the reserve isn’t met?

If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder. Some buyers dislike reserve prices as they reduce the chance of them getting bargain deals. A reserve price is not to be confused with an opening bid, which is the suggested starting bid for an auction.

Do you have to pay reserve fee if item doesn’t sell?

The reserve fee is part of the insertion fee and charged whether the item sells or not. To avoid paying the reserve fee, list your item with a stating price equalling your reserve price. Don’t start a listing at 99 cents with a reserve.