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First timer - bidding help!

(8 Posts)
PseudoBadger Tue 16-Apr-13 14:20:18

I've put a bid on an item and have put on a maximum bid amount. So at the moment I'm the highest bidder at £10, my max bid is £40. It's telling me that the reserve isn't met - is it talking about the current bid or the maximum bid amount? Hope that makes sense!

fergoose Tue 16-Apr-13 14:28:46

the seller has added a reserve, the lowest will be £50. you will have to bid higher than the reserve to win the item, so £40 will not be enough, hence the reserve not met. Your bid is only at £10 because nobody else has bid against you yet.

spixblue Tue 16-Apr-13 14:33:18

The reserve price isn't disclosed to the bidder. It's an artificial way to drum up bids by luring bidders with a low starting bid. You've done the right thing by thinking about how much you'd be willing to pay for the item. Be wary of paying any more - it's a buyer's market at the moment for most things!

sarahtigh Wed 17-Apr-13 09:22:07

as fergoose says the lowest you can set a reserve is £50 so if max bid is £40 you have no chance ie even if you are winning bidder seller does not have to sell to you as reserve not met

you could put in a max of £50.01

the seller has put on a reserve as she does not want to sell at a silly price like 99p

reserves are often used with higher price items just like normal auctions it is reasonable to set a reserve so if no -one bids or only bids low you have option to keep your item reduce price or attempt to sell elsewhere

spixblue Wed 17-Apr-13 10:00:13

I agree that it's sensible to put a reserve on a high value item, but to start the bids at a silly price, when there is never a chance of selling the item at that price is a deception in my view.

fergoose Wed 17-Apr-13 10:05:42

not really - the reserve is there to protect the seller, hardly deception. It clearly shows if you have met the reserve or not. An item started at a lower price can cost less in fees plus attract more bidders, that is just the way it works, at both on and offline auctions.

PseudoBadger Wed 17-Apr-13 11:50:01

So if mine ends up as the highest bid at £40, she could still sell it at that price? Or would eBay stop her as the reserve wasn't met?

fergoose Wed 17-Apr-13 11:51:19

no - she doesn't have to sell if you don't meet the reserve, but if she wants to she can. I think they would prob just relist though.

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