If I bid on something and it doesn't meet the reserve price by the time the auction ends. Will the seller still sell it to me even if "reserve has not met"?
i never really understood this - why not just start the bidding at the reserve price so that bidders can see what they are working with and not have to blindly guess as to what the reserve is?
i never really understood this - why not just start the bidding at the reserve price so that bidders can see what they are working with and not have to blindly guess as to what the reserve is?
I think people do that to get the bidding going; I have seen B-bag with an opening bid of $900 or more that goes unsold but then there are others where the bidding is started much lower, and ends up selling for more than the same purse at the higher opening bid.
As a seller, I never set a reserve. It is kind pricey to do so. I am always better off starting low and keeping my fingers crossed or just starting the bidding at my min. asking price.