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What is a Reserve Price?
What is a Reserve Price?
The Reserve Price is the lowest price an item can be sold for. This amount is pre-determined and is usually higher than the minimum starting bid price. This price is always kept a secret from bidders. To win a Reserve Price auction, you must place a bid that meets or exceeds the Reserve Price and qualify as a winner as defined in our Help pages. Click here to review Winning Bids.
How will I know if an auction has a Reserve Price?
On each product page, there will be a notation under the Bidding Information whether or not an auction is being conducted with a Reserve Price.
How will I know if a Reserve Price has been met?
When all item(s) available in an auction have bids that meet or exceed the Reserve Price, the product page will indicate "Reserve Price Met". If the Reserve Price has not been met for all available items within a lot, there will be an indication that Reserve Price has been Met/Not Met next to each of the highest bidder's initials.
Will bids be accepted if they are lower than the Reserve Price?
Will bids be accepted if they are lower than the Reserve Price? All bids below the Reserve Price will be accepted; however, if an auction closes and there are bids that do not meet the Reserve Price, those bids will not be considered winners and will therefore move to Closed Non-Winning Bids in MyPage.
Please note that a bidder within one bid increment of meeting the reserve price will be prompted to place another bid on the item to meet or exceed the reserve price and win the auction with similar text on the bid confirmation page:
Your bid was received successfully. But the Reserve Price was not met! Good News! Your current bid of $199 is within one bid increment of meeting or exceeding the reserve price of this auction. So, if you simply increase your bid to $209 in the "Your Bid Price" box below, you will meet or exceed the reserve price...which gives you a chance to win this auction!
How will I know if my bid is lower than the Reserve Price?
If you place a bid that is lower than the Reserve Price, we will alert you in your bid confirmation page and email so you may place additional bids. This will also be noted on your MyBids Detail page.
How does uBuyItNow work with Reserve Price auctions?
·You will have the option to buy the product at a fixed price using uBuyItNow and become an instant winner without waiting for the auction to close.
·If you choose to bid, you may continue to place bids on the auction. If your bid price is below the Reserve Price, we will alert you so you may raise your bid to meet or exceed the Reserve Price.