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Old 01-22-2014, 04:19 AM   #1
Pasodama
Reserve, No Reserve, Starting Bid

Not sure if this is where I should place this thread but could not find a forum/section where it would be more appropriate.

Some people are having difficulty with what entails Reserve, No Reserve, and Starting Bid.

A Starting Bid is just that. The Starting Bid. It is the amount that the initial bidder must bid. Regardless of whether that amount is $10 or $1000 (examples).

When an auction states that there is a Reserve, it means that the item will not sell for the amount that the seller starts the auction with.
A Reserve is an undisclosed, and least, amount that a seller is willing to sell an item for. It is an amount that is higher than the Starting Bid that is set by the seller.
The seller will set the Starting Bid at a lesser amount than the Reserve amount. Be it that the Starting Bid is $0 or $1000 (examples). However, the item will not sell until his/her undisclosed amount has been reached by bidders. If the Reserve is not met, by the highest bidder, then the seller will state that the Reserve has not been met and the item will not be sold. If the Reserve is reached, the seller will state that the Reserve has been met and the item will be sold to the highest bidder.

When an auction states No Reserve, it means that the item will sell to the highest bidder no matter what that highest bid amount is (though the highest bid must at least match the Starting Bid set by the seller).
Some sellers may set a very low Starting Bid and others may set the Starting Bid at a high(er) amount. Whether the set Starting Bid is high, or low, it is the amount that the seller is least willing to take for the item they have at auction.