This article will help you understand what a reserve price is on Marketplace.
Reserve Price For Bidders
When bidding on an item with a reserve price, there’s a hidden minimum amount that the seller is willing to accept. This means even if you are the highest bidder, the item won’t sell unless your bid meets or exceeds the reserve price.
Important Points to Know:
- You won’t know what the reserve price is until you meet or exceed it.
- If your bid meets the reserve price, you’ll receive a message letting you know your bid is valid and the item will sell if no higher bids are placed.
- If bidding closes and no one meets the reserve price, the item won’t sell, and the seller may choose to relist it.
Reserve Price For Sellers
A reserve price is the minimum amount you, as a seller, are willing to accept for an item. If bidding on the item doesn’t reach the reserve price, the item won’t sell. This can help protect your investment and ensure you get fair value for your items.
How to Set a Reserve Price:
- When creating a listing for your item, look for the “Reserve (Optional)” field.
- Enter the minimum amount you’d like to sell the item for. Bidders won’t see this amount, but they’ll be informed when they haven’t yet met the reserve.
- Complete the rest of the listing details as usual and publish.
If bidding doesn’t reach your set reserve price by the end of the auction, the item will not be sold.