what is reserve bid met

 
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Sellers can set an opening bid which is very low on their...

Sellers can set an opening bid which is very low on their auctions, to encourage bidding.

However, they can pay for a Reserve Bid and if the bidding does not meet that Bid, the item goes unsold.

 

For example, I want to sell by Antique Kazoo which I paid $500 for twenty years ago. I am convinced it is worth much more today.

I set up an Reserve Bid of $500 and pay eBay for the privilege.

But the auction shows an opening bid of $9.99.

You bid, and because you know the market for Antique Kazoos, your bid is $100.

Even if no one else bids, you will not win because of the Reserve.

But if Weird Al Yankovic comes along and bids $500, he will win because he did bid the Reserve.

Unless of course you jump back in and bid $600, in which case you will win because you met the Reserve and bid higher than Weird Al.

 

To complicate matters, you will not actually pay $600, but about $520 , which is one 'increment" above the underbid.

 

Bid once, bid your maximum and usually bid late. You will never pay 'too much' with that process.

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