The seller can choose to set a reserve price which is the lowest price the seller is willing to accept for the auction item.
The reserve price is higher than the starting price. If the reserve price isn't met by the close of the auction, the item will not be sold. Neither the bidder nor the seller will be obligated to complete the sale, and no contact information will be exchanged. If an auction has a reserve price that has not yet been met, "Reserve Not Met" will be listed next to the item price.
A seller usually specifies a reserve price if he/she is unsure of the real value of an item and wants to reserve the right not to sell if the market value is less than expected.
For example, a seller may set the reserve price on a vintage Coca-Cola bottle at $50.00 but actually start the auction at $1.00. Any bid under $50.00 will not win the auction.
Last Updated: 7/18/2017