What is a Reserve Price?

When it comes to auction-style listings on ifndautoparts, you might come across listings with a reserve price. Here's what you need to know:

 

1. Understanding Reserve Price: A reserve price is the minimum price set by the seller for an auction listing. It is the price at or above which the seller is willing to sell the item. However, the reserve price is not disclosed to buyers. The purpose of a reserve price is to ensure that the item doesn't sell for a price lower than the seller's expectations.

2. Identifying Listings with a Reserve Price: listings with a reserve price are indicated when you place a bid on a listing. This information helps you identify that the item has a minimum price set by the seller. The text “reserve met” or “reserve not met” will display.

3. Reserve Price Not Disclosed: The reserve price remains undisclosed throughout the auction. This means that you won't know the specific reserve price while placing bids.

4. Meeting or Exceeding the Reserve Price: In order for the item to be sold, the highest bid must meet or exceed the reserve price. If the highest bid at the end of the auction-style listing doesn't reach the reserve price, the item will not be sold. In this case, the seller may choose to relist the item or negotiate with interested buyers privately.

5. Indication of Reserve Price Met: If the highest bid meets or exceeds the reserve price, the auction listing will indicate that the reserve price has been met. This information assures you that the item will be sold to the highest bidder.The text “Reserve Met” will display.

6. Bidding with Confidence: When participating in an auction-style event with a reserve price, it's important to bid based on your own valuation and not solely on the possibility of meeting the reserve price.