reserve price question

[maryzimmerman2020]

Hi,  

I have a question: Is there a way to set a reserve price when posting a new item on ebay? Thanks for your help. 

[kensgiftshop]

@maryzimmerman2020 

Yes, you put a reserve price on an auction, but there's a pretty good fee for using it.

You have to pay the fee even if the item doesn't sell.

You would be better off just starting the auction at the price you want.

[simba6]

There is a place to enter it where you enter the starting price when you create a listing. However, it's an extra fee.  Just make the starting price the lowest your happy to sell at.  That will save the reserve fee.  Also some buyers won't even bid if there is a reserve. Don't like the guess the price game.

[mtgraves7984]

You can for a fee.

[maxine*j]

You can set a reserve on an auction.  However, buyers hate them.  Buyers feel you're playing games with them,   Most will hit the back arrow when the see a reserve.  The rest will nibble- and sport-bid, figuring if you can play a game, so can they.

Additionally, the fee is steep and you pay if even if the item does not sell.

In fact, in most cases you probably should not run an auction at all, much less one with a reserve.  Unless you have something special, scarce, and sought by collectors, you're better off with a Fixed-Price Listing with Immediate Payment Required -- and this is especially so if you are new to selling on eBay.

=

[7606dennis]

A reserve is used in an auction as a form of insurance against the owner of the property from having to sell below a certain price.  It is basically designed to protect the seller in cases of unforeseen circumstances such as bad weather or something hindering the turn out of interested bidders.  However, there is little, if any, reason for a seller on eBay to pay to use one.  Simply setting the starting price at the amount one would use for the reserve and it serves the same function.

However, if I'm reading your post correctly you're asking if you can set a reserve on new item being sold at auction.  The answer is yes, but why would you wish to offer a new item at auction rather than offer it at a fixed price.  Unless the item is rare or otherwise somehow unique, to sell it at auction is usually not a good idea.  Selling it at a fixed price, competitive with others offering the same item makes more sense.  One can also include a BO option if one is so inclined or enjoys haggling.

Of course, if you are asking about setting a reserve on a fixed price item, the answer is no.  There is no need.

[fashunu4eeuh]

Totally agree about not setting a reserve. I used one on an auction awhile back (for a very desirable antique soft drink sign that normally goes for hundreds of dollars). But the bidding was worse than abysmal, didn't even get close to the reserve. My mistake. I relisted the same item without the reserve a few months later. The bidding was fast and furious. Sold it for way over where i had formerly set the reserve price in the first auction. That first auction was killed dead because these days buyers just hate reserves. It wasn’t always this way, but it certainly is now on eBay.

[7606dennis]

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@fashunu4eeuh wrote:

Totally agree about not setting a reserve. I used one on an auction awhile back (for a very desirable antique soft drink sign that normally goes for hundreds of dollars). But the bidding was worse than abysmal, didn't even get close to the reserve. My mistake. I relisted the same item without the reserve a few months later. The bidding was fast and furious. Sold it for way over where i had formerly set the reserve price in the first auction. That first auction was killed dead because these days buyers just hate reserves. It wasn’t always this way, but it certainly is now on eBay.

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Most of the bidders that hate reserve auctions do so because they don't understand their purpose or how they work.  As I've already mentioned the purpose of a reserve there is no need to bore everyone with it again.  However, the advantage to bidding on an item with a reserve on it is that if the max you're willing to pay for something doesn't exceed the reserve, you're free to move on without worrying about somehow ending up the winner.

Most people don't realize that all eBay auctions, because they require a minimum starting bid set by the seller, are, for all intents and purposes, reserve auctions since the starting bid acts similar to a reserve.

For those that simply refuse to bid on a reserve auction, you might want to consider that because there are many with the same idea and you might be able to pick up a bargain because the others aren't bidding.

Oh!  When it comes to asking sellers to reveal the amount of the reserve, don't do it.  Since a reserve is merely the lowest amount the seller will sell for, it is not the asking price desired by the seller.  Asking them to reveal the reserve is akin to asking someone you're haggling with what the lowest price they will take is.  It's not very effective.

[fashunu4eeuh]

@7606dennis wrote:
“Asking them to reveal the reserve is akin to asking someone you're haggling with what the lowest price they will take is.  It's not very effective.”

I rather disagree. While it seems odd to me to do so, i believe there is no harm in asking. Ebay advises such as well in their policy. 

https://www.ebay.com/help/selling/listings/selling-auctions/reserve-prices?id=4143

”Tip
Your reserve price is secret unless you want to share it with bidders. Some sellers include it in their product descriptions or tell buyers they can contact them if they want to know what it is.”

[maryzimmerman2020]

Thank you so much for getting back to me on my question. Several years ago I did ebay and then stopped, I now are starting things up again, but the format has changed. I appreciate the help. 

[maryzimmerman2020]

Thank you everyone for this information. I appreciate it. 

[7606dennis]

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@fashunu4eeuh wrote:

@7606dennis wrote:
“Asking them to reveal the reserve is akin to asking someone you're haggling with what the lowest price they will take is.  It's not very effective.”

I rather disagree. While it seems odd to me to do so, i believe there is no harm in asking. Ebay advises such as well in their policy. 

https://www.ebay.com/help/selling/listings/selling-auctions/reserve-prices?id=4143

”Tip
Your reserve price is secret unless you want to share it with bidders. Some sellers include it in their product descriptions or tell buyers they can contact them if they want to know what it is.”

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The primary reason it is advised against in auctioneer training schools is that it sets a price in the bidder's mind that is often mistaken for the value or price the seller wants for the item.  This is not the case.  It is the bare minimum that the seller can be forced to take for the item or the lowest price an auctioneer is authorized to sell it for by their client.

Of course, auction training schools also advise against setting too firm an estimate of what an item might fetch at auction when booking a job with a client.  It sets one up for a client coming back with a "you said it would fetch this" if the bidding doesn't go as high expected.

Of course, sellers are free to disclose the amount of their reserve if they wish.  Although I advise against it there is no hard rule against doing it.  I would, however, advise one that plans to reveal it, to do so to all potential bidders rather than just the one that asks.  That way each bidder is armed with the same knowledge.  However, I do believe the revealing the reserve amount unnecessarily depresses the bidding level in the long run.