For Seniors: How to Bid on an eBay Auction
For Seniors: How to Sign In to eBay
For Seniors: How to Leave eBay Feedback and the Detailed Seller Ratings (DSRs)

For Seniors: How Reserve Price eBay Auctions Work

Reserve-price auctions on eBay have an extra feature. In addition to a minimum bid, which is required in any eBay auction, a reserve price protects sellers from having to sell an item for less than the minimum amount they want for it. An eBay auction with a reserve is shown here.

image0.jpg

Suppose that you see a 1968 Jaguar XKE sports car up for auction on eBay with a minimum bid of only a dollar. It’s a fair bet that the seller has put a reserve price on this car to protect himself from losing money. The reserve price allows sellers to set lower minimum bids, and lower minimum bids attract bidders. Unfortunately, if a seller makes the reserve price too high and it isn’t met by the end of the auction, no one wins.

Nobody knows (except the seller and the eBay computer system) what the reserve price is until the auction is over, but you can tell from the auction page whether you’re dealing with a reserve-price auction. You have to open the specific auction page to find out whether it has a reserve. If bids have been made on an item, the auction page also shows a message telling you if the reserve price hasn’t been met.

blog comments powered by Disqus
For Seniors: How to Register on eBay
For Seniors: How to Make Your eBay Payment Immediately
For Seniors: How to Set Up a PayPal Account
For Seniors: How to Narrow Your eBay Search in a Category
For Seniors: How to Find the Details on an eBay Listing
Advertisement

Inside Dummies.com