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What precisely does "No Reserve" mean?

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in this case if you bid $29.99, you win... if the reserve was $50.00, you'd have to bid $51 to win.

no other bidders of course :)
 
It just means the table will sell at the opening bid of $29.99 or higher. He or she could have set a reserve of $75 and if no bidder hit that price or higher, it would not sell.
 
Okay, then there IS a reserve bid: $29.99.
I guess I was just wondering why or how the seller can say "No Reserve"...
No wonder I stay away from items like this.. hurts my head too much.
Thanks:)
Tom
 
The "reserve" is the secret price, known only to the seller, for which he/she is willing to sell the item. Until the bidding reaches that price, it is still no sale. However, in a "no reserve" auction, the opening bid, whatever it may be, is sufficient to purchase the item. There is no other secret amount that the seller hopes to get.

I understand the feeling that if you start at $29, then that is the reserve, but that's not the way the terms are used.
 
OvenMaster said:
Okay, then there IS a reserve bid: $29.99.
I guess I was just wondering why or how the seller can say "No Reserve"...
No wonder I stay away from items like this.. hurts my head too much.
Thanks:)
Tom
Click to expand...


All listings have a starting bid, so in this case the $29.99 is not a Reserve amount.

A reserve amount is the undisclosed minimum the seller thinks is the fair profit.

The purpose of a hidden Reserve amount is to
Not scare away bidders starting with too high a starting bid.
And at the same time Protect the seller from a ridiculous low bid winning it that could have the seller lose money.
If nobody meets the Reserve nobody wins. The seller is not obligated to sell and can then decide to relist or even lower the reserve or keep it if he can't get what he considers a fair bid.

No Reserve just means there is no further minimum amount for buyers to worry about. Item goes to the highest bidder. Period.
 
That is one thing that really bothers me about sellers. They say no reserve and start the auction at $150.

To me their reserve is $150, you just know what it is. They wont sell it for less.

I know this is not the definition of no reserve, but it is a type of reserve.

Rob
 
Robisme said:
That is one thing that really bothers me about sellers. They say no reserve and start the auction at $150.

To me their reserve is $150, you just know what it is. They wont sell it for less.

I know this is not the definition of no reserve, but it is a type of reserve.

Rob
Click to expand...
True to a point but it keps the tire kickers away lol. The ones that bug me are the ones that will list an item at 99.00 and the buy it now at 99.99 or some such equivalent.



REGARDS JIM
 
irregardless of the reserve price the one neg the guy has in the last month was shipping a turntable
 
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