Property Auctions >> Property Auction Blogs >> Property Auctions: What is a reserve price?
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Tuesday, November 04, 2008
A reserve price is the lowest price at which you are willing to sell your property. If you don't want to sell your property below a certain price, you can set up a reserve price. Bidders are not told disclosed the reserve price, but bidders will see to it that your auction has a reserve price and see whether or not the reserve has been met. If a bidder does not meet that price, you're not obligated to sell your property. The Reserve price option is only visible for online auction format; it is not visible for fixed price or classified ad listings. Many sellers have found that too high a starting price discourages interest in their property, while an attractively low starting price makes them vulnerable to selling at an unsatisfactorily low price. A reserve price helps with this.
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