• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

4. Selling > 45. Reserve Judgment

Reserve Judgment

Use a reserve-price auction for items with unknown value or limited appeal.

One of eBay’s greatest strengths is the lengths to which its policies go to protect its millions of users, both buyers and sellers. One of the best-known policies is the reserve price, which consequently gets overused.

A reserve price is a dollar amount the seller specifies, below which he or she is under no obligation to sell. For example, you might want to sella car for at least $15,000. But if you set the starting price [Hack #42] at $15,000, you might not get as many bids as with a starting price of $100. A reserve effectively allows you to start the bidding at $100 while protecting yourself from the auction closing with too low of a bid. If you list an item with a $15,000 reserve and no bids exceeding that amount have been placed by the end of the auction, then neither the seller nor the high bidder is under any obligation to complete the transaction.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint