Ebay strategies?

Started 2 months ago | Discussions thread
Jonsi
Jonsi Veteran Member • Posts: 4,319
Re: Ebay strategies?

CMCM wrote:

What is a reserve?

It's sort of a minimum bid amount on an item, that also allows the seller to choose to sell for less.

It's for items whose value you aren't sure of.

In other words.. You have an older Gretsch White Falcon but you don't know for sure what it's worth. You think it's worth $10,000 but you hope for more. You set a starting bid at $8,000 with a reserve of $9,000. That means you'll accept $9,000.

All bids above $8,000 are accepted but people are told "reserve not met" until bids reach $9,000. So, when the auction ends, if the highest bid is $9,000, they win. If the highest bid is $8,500, you can decide you're willing to sell it for that... or not.

It's better than just setting the minimum bid at $9,000.

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Bob
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