What is Reserve Auction (Reserve Price)?

Reserve auction is auction with a reserve price. Reserve price is the lowest price a seller willing to sell an item for. This amount is generally higher than the minimum bid. In order to win the auction, a bidder must bid until meet or exceed the reserve price set by the seller and have the highest bid. If no bidders meet the reserve price, neither the seller nor the highest bidder are under any obligation to complete the transaction.
Indicator in Auction Detail: Reserve Price

  1. Below Reserve
    If all the bid has not meet or exceed the reserve price set by the seller, the indicator will display “Below Reserve“.
  2. Above Reserve
    If any of the bid meet or exceed the reserve price, the indicator will changed to Above Reserve to tell bidder that seller will sell to any of the highest bidder as the reserve has exceed his minimum selling price.
  3. No Reserve
    This item do not have any reserve price, seller will sell the product to the highest bidder at the end of the auction.
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