What is a Reserve?
The Reserve price is an optional feature when creating your items, found in the Optional Settings section.
To add a Reserve price, go to the Items > Create Items > scroll down to the Optional Settings section > enter amount in the What is the Reserve Price for your item? field.
A Reserve is the minimum amount for which you are willing to sell the item. You should only set a Reserve if your Opening Bid is too low to cover this minimum amount.
- The Reserve is typically used when you want to have an absolute minimum that the item has to sell for but you want to encourage the bidding to start from a lower place. In some cases, the item has a cost associated with it, but the opening bid is lower than that amount.
- As bidders bid, if they haven't met the Reserve, the system will notify them.
- Also, once the auction closes, if the Reserve isn't met, you aren't obligated to sell the item to the leading bidder. If you do wish to sell an item below its reserve, here are instructions: How to close out an item when the reserve isn't met.
It isn't required to include a Reserve. In most cases, you may want to set the opening bid to be the minimum that you're willing to sell the item.
Please note! If an item with a reserve is bid on, the reserve can no longer be removed or changed