- What is the legal effect of an auction being with reserve?
- Should I tell bidders what my reserve is?
- Is the reserve price the same as buy it now?
- What is the point of a reserve price?
- What is shill bidding mean?
- Can eBay seller cancel winning bid?
- Why is the reserve price 50 on eBay?
- Do bidders see the reserve price?
- Can the seller see my highest bid?
- How is reserve price calculated?
- Do I have to sell my item on eBay if the bid is too low?
- What is a reserve price on Trade Me?
- What happens when a reserve is not met?
- Why do I get outbid on eBay at the last second?
- Can eBay sellers refuse bid?
- What happens if you are the highest bidder but the reserve isn’t met?
- Do eBay sellers have to accept the highest bid?
What is the legal effect of an auction being with reserve?
In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale.
In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time..
Should I tell bidders what my reserve is?
If the reserve price is not met, the only way of communicating what it is to buyers is to simply tell them what it is. … Alternatively, if you are a buyer interested in bidding on an auction with a reserve price, it would behoove you to simply ask the seller what the reserve price is.
Is the reserve price the same as buy it now?
On eBay, a reserve price is the minimum price the seller will take for an item, while a Buy It Now price is a set price you can buy an item for. A listing with a Buy It Now option does not mean that the bidding has a reserve price, though the two features can be used together in one listing.
What is the point of a reserve price?
A reserve price is a hidden minimum price—essentially, the lowest price you’re willing to accept for your item. If the listing ends without any bids that meet the reserve price, you aren’t required to sell the item.
What is shill bidding mean?
shill bidding in British English noun. (on an online auction) the illegal practice of a seller or a seller’s acquaintances placing bids on his or her goods in order to drive up the price.
Can eBay seller cancel winning bid?
Sellers are allowed to cancel bids for ANY reason. eBay will not do anything about it. The seller may have looked at your ‘Feedback left for others’ and decided they’d prefer to sell to another buyer.
Why is the reserve price 50 on eBay?
It was causing a disproportionate amount of seller/buyer problems and at the time, costs to eBay to help resolve. So they set the minimum value to a) dissuade sellers from misusing it and b) so it was then considered to be an amount which would apply to reasonably high priced items.
Do bidders see the reserve price?
A reserve price is the lowest price you’re willing to sell an item for. Bidders can’t see the reserve price, but they’ll see whether it has been met.
Can the seller see my highest bid?
Answers (3) No one but you can see your maximum bid. … If you are outbid, everyone sees your maximum bid. For example: The opening price, set by the seller is $10.
How is reserve price calculated?
How is the reserve price calculated? The staring point for the reserve price is the property’s value and agreed between the auctioneer and the seller. Usually the auctioneer will want to set a reserve price on the low side, to ensure the property successfully sells.
Do I have to sell my item on eBay if the bid is too low?
Yes, you are required to sell to the high bidder. You should not start the bidding at a price you will not accept. The Buy It Now is not a reserve and in most cases will disappear after the first bid is placed.
What is a reserve price on Trade Me?
Sellers can set a start price and specify a reserve. … Members place bids – bids will begin at the start price, and may need to reach a reserve price. If a Buy Now is added, this can be selected at any time, until the bids exceed the Buy Now. If the reserve is met, the highest bidder is the winner.
What happens when a reserve is not met?
If you bid below the reserve price, you’ll see a ‘Reserve not met’ message. This means that even if you’re the highest bidder at the end of the auction, you won’t win the item. Sellers can lower their reserve price during the auction or make a Second Chance Offer once it ends.
Why do I get outbid on eBay at the last second?
Sounds like YOU bid at the “last second” and got outbid by an earlier higher bid. … Any lower subsequent bid is automatically outbid by that higher bid immediately upon being placed.
Can eBay sellers refuse bid?
Sellers can’t decline a bid. If it’s an auction with a reserve, bids below the reserve amount mean nothing.
What happens if you are the highest bidder but the reserve isn’t met?
A reserve price is the minimum amount the seller is willing to sell an item for. If the reserve price isn’t met, the item won’t be sold. … If you bid below the reserve price, you’ll see a “Reserve not met” message. This means that even if you’re the highest bidder at the end of the auction, you won’t win the item.
Do eBay sellers have to accept the highest bid?
you don’t have to accept a bid on an auction. once the buyer sees the listing and bids, they are actively bidding and if they win and pay, you will get their shipping information.