Reserves

[jean_1030]

When a buyer asks what the reserve is, should I reply?

[soh.maryl · Accepted solution]

Why not? Maybe they want your item so badly that they don't want to nibble bid their way up to the Reserve.  

[downunder-61]

I can only see 2 items on Auction and neither appear to have a reserve set on them

[nobody*s_perfect]

The tramp art frame has 8 bids and an unmet reserve.

I agree: Tell the potential buyer your reserve amount if you want to sell the item.

But why put yourself through the expense and hassle of using a Reserve in the first place? Some potential bidders just hit the back button when they see that an auction has an unmet reserve. Most experienced sellers just start the bidding at the lowest price they'd be  willing to sell for.  The nonrefundable fee for using a Reserve is 7.5% of the reserve amount, so you have over $7 invested in this auction unnecessarily.

[jean_1030]

The Tramp Art has a reserve

[downunder-61]

Thanks, missed that, I always thought the ''Reserve not Met'' notice was in bold and green - why I thought that I have absolutely no idea..........

Maybe time for bed LOL

[aeparts1]

I've had people ask that question in the past. I can't help myself, this is how I reply:

Common to auctions, a reserve price or a reservation price is the minimum amount that a seller will accept as the winning bid. Alternatively, it is less commonly known as the highest price a buyer is willing to pay for a good or service. The reserve price prevents a bidder who offers a price lower than what the owner will accept from winning the auction.

[soh.maryl]

Respectfully, how does that answer help the buyer? He probably knows the definition of a "Reserve" -- and that is the reason he is asking the seller to disclose it.  What harm is there in disclosing the amount of the "Reserve"? 

[katzrul15]

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@soh.maryl wrote:

Respectfully, how does that answer help the buyer? He probably knows the definition of a "Reserve" -- and that is the reason he is asking the seller to disclose it.  What harm is there in disclosing the amount of the "Reserve"? 

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None.  OP has a Buyer who wants to know whether to get "in" this auction or not.  Absolutely would disclose the reserve.

[wrong66]

If a seller won't divulge the amount of the Reserve, I just move on. Won't play that "game".