How does bidding and final price work?

Question

I read the article, but still feel confused. If the reserve or min bid price on a car is $500 and the "Buy now" price is $15k, and I pay that $500, am the I am the only one to bid, and win that, is the $500 all I have to pay plus maybe taxes/fees? If not, can someone please explain how this all works?

comics-scifi-collectibles · Accepted Answer

@gbroc_33 If the seller has a hidden reserve price then you do not "win" the auction. If you bid $500 and it says reserve not met then the seller has a hidden reserve price that must be met.

eBay Motors sales are different than other sales on eBay and either party can walk away from the sale.