| Ebanned - Glossary of Terms |
Reserve Price
The lowest price at which a seller is willing to sell an item. Bidders
never see the reserve price. A seller might indicate a reserve price if
they are unsure of the real value of the item and would like to reserve
the right to refuse to sell the item if the market value is below a
certain price. If an item has a reserve price, that will show on auction
page. Conventional wisdom says that buyers prefer auctions that have
"No Reserve," and that you will attract more bidders if you
don't list a reserve price.
Effective February 15, 2006 there will be a $0.30 fee for listing a
reserve item. This fee will be refunded to sellers if their item sells
at or above the reserve price. |
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