what is reserve bid met

 
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what is reserve bid met

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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