|Ebanned - Glossary of Terms
When a seller sets a Reserve Bid amount they are stating
that this value, which is not disclosed to the bidders, except to
announce whether the Reserve Bid has been met, is the lowest bid that
they will accept as a successful auction. As a Seller this allows you to
set a minimum amount that you will sell your
item for. You should be aware that setting your Reserve Bid too high
would result in you item not selling.
Effective February 15, 2006 there will be a $0.30 charge for a
reserve auction. If your item meets it's reserve, the small fee will be
refunded to you.
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