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Bids and reserve
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20-02-2021 1:35 PM - edited 20-02-2021 2:20 PM
What does it mean when the asking price is what the bidder has bud, but it also says the reserve price is not met?
Sorry got it it will be the sellers starting price to hopefully start a bidding war
Sorry not done bidding wars for a long time
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20-02-2021
2:06 PM
You need to explain what you mean as you obviously do not understand about bidding or reserves.
The start price is NOT the asking price, and until it says reserve met NO ONE will have won. In fact some bidders will waste the sellers time as they know the minimum reserve is £50 so they can place a bid of £49.99 knowing they have no chance of winning.
We always advise NOT using reserves as they are expensive for the seller at 4% of the reserve price, payable whether the item sells or not. Seller shold start at a price they ae happy to sell at, then if it doesn't sell no fee to pay (unless any extras were used which incurred fixed fees)
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