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Using Reserve Pricing

You learned about reserve price auctions back in Chapter 1, “Reviewing eBay Basics.” In a nutshell, in a reserve price auction the initial bid price you set isn't the lowest price you agree to accept. Your lowest acceptable price—which is hidden from all bidders—is called your reserve price. You use reserve pricing to get bidding started at an attractive initial price, while reserving the right not to sell unless the final price reaches the (higher) level you really want to get.

That might mean starting bidding at a penny, but setting a reserve price of $10 or so. Bidders will get excited about the one-cent starting price, and (hopefully) bid the price up to where you want it. Once the bidding reaches $10, you're home free. If the bidding doesn't get there, the auction closes without a winner and you're not out anything. (Except your listing fees, of course.)


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