Reserve Pricing

[red-circle]

Hi, does anybody know why the lowest reserve price is a ridiculous £50.  And can I set a 'realistic' reserve price.

Bob

[plpmr]

forget a reserve as you pay even if you don't sell.

Just start at the lowest you are willing to accept.

[red_magpie]

It would be pointless to have reserves for £10 ro £20 items. To ensure it doesn't sell for less than a "realistic" price just start the listing at the lowest price you would be willing to accept. There's no listing fee now, so if it doesn't sell you haven't lost anything.

Reserves are expensive, and really only suitble for items like collectibles. Collectors watch what other collectors are bididng so starting at a low price can encourge competition which drives the price up.

To guard against selling too cheaply sellers often set a reserve, but this comes at a price: 5% of the reserve price, whether or not the item sells.

[john1297576]

The minimum reserve fee is £2, so what is the point of selling for free, and then agreeing to pay a fee which is taken the moment you list AND IS NOT REFUNDABLE even if not sold.

Setting start price at a price you are willing to accept, acts as a reserve as bids cannot be below this figure, and costs nothing.