stupid ebay question: reserves

[AngryScientist]

OK, let's assume i want to bid on an item.

the current bid is sitting at $204 (reserve not met)

i put in a max bid of $500

the current bid now sits at $210 (reserve not met)

does this mean that my $500 max bid is still below the reserve price?

how does this work?

[jtakeda]

Not necessarily.

The reserve price doesn't act as another "bidder"

Someone else will have to bid the item up closer to your max bid or actual reserve price in order for you to find out what the reserve price is.

Reserve could be $325 for example but you wont know until other bidders get the bid up to 325 to find out.

[11.4]

OK, let's assume i want to bid on an item.

the current bid is sitting at $204 (reserve not met)

i put in a max bid of $500

the current bid now sits at $210 (reserve not met)

does this mean that my $500 max bid is still below the reserve price?

how does this work?

That's correct. Reserve prices typically aren't disclosed and you won't know what it is until you continue to bid up until your bid registers. Your bid only raises the standing bid by one step, whatever that is defined to be.

[Hindmost]

In your example the reserve is not met. The purchase price has to be bid (competing bids) up to the reserve for the item to "meet the reserve."

Previous answer is more to the OP question.

[Cicli]

I was under the understanding that if you bid more than the reserve the reserve is off and your current bit is set to that "reserve price". If the reserve is hit by anyone, even one bidder the item will sell to the highest bid.

Edited to add evilBay screenshot.

[Dead Man]

IIRC, doesn't the seller have the option of offering the item to the highest bidder if the reserve price never gets met?

And he always has the option of editing and lowering the reserve price

Point being.. I don't give up completly on an item just because reserve hasn't been reached, if I am the highest bidder

[jtakeda]

IIRC, doesn't the seller have the option of offering the item to the highest bidder if the reserve price never gets met?

And he always has the option of editing and lowering the reserve price

Point being.. I don't give up completly on an item just because reserve hasn't been reached, if I am the highest bidder

This is correct.

[ripvanrando]

Not necessarily.

The reserve price doesn't act as another "bidder"

Someone else will have to bid the item up closer to your max bid or actual reserve price in order for you to find out what the reserve price is.

Reserve could be $325 for example but you wont know until other bidders get the bid up to 325 to find out.
This is how I understand it too

I usually list my stuff with a nut it now or best offer for that reason.

My teen son with more time and patience does the auction listing. He thinks this how the reserve lifting works too but was not 100% sure

[tuscanyswe]

Not necessarily.

The reserve price doesn't act as another "bidder"

Someone else will have to bid the item up closer to your max bid or actual reserve price in order for you to find out what the reserve price is.

Reserve could be $325 for example but you wont know until other bidders get the bid up to 325 to find out.

This.

[zmudshark]

@Tihsepa is correct.

If the reserve was $500 or less and @AngryScientist bid $500, he would be the high bidder at the reserve price. If the reserve was lower than his $500 bid, say $350. His bid would show as $350 until someone outbid him. It would then increase by the minimum increments until someone bids higher than his $500 bid.

[Cicli]

@Tihsepa is correct.

If the reserve was $500 or less and @AngryScientist bid $500, he would be the high bidder at the reserve price. If the reserve was lower than his $500 bid, say $350. His bid would show as $350 until someone outbid him. It would then increase by the minimum increments until someone bids higher than his $500 bid.

Exactly. It only takes one bid to hit the reserve.

[oldpotatoe]

OK, let's assume i want to bid on an item.

the current bid is sitting at $204 (reserve not met)

i put in a max bid of $500

the current bid now sits at $210 (reserve not met)

does this mean that my $500 max bid is still below the reserve price?

how does this work?

Not necessarily . Actually bid $500 to see if that is above the reserve.

[11.4]

in the case of this auction, the reserve price is higher than $500. Let's say it's $550. If you bid $540, it registers as one more bid and you are in an undisclosed queue of bidders with the highest bid, but you still aren't guaranteed the win. If someone bids $550, the reserve disappears and the item shows as having however many bids were involved so far and a $550 current bid. From then on it acts like a regular no-reserve bid. If no one bids $550 that queue determines who offered the most and the seller has the option of offering it to that highest bidder and then down the queue until he finds a buyer. It used to be the case that the queue was disclosed and the seller could see the bidders, so a smart seller could play the system with an excessively high reserve and find an acceptable bidder for a private deal so eBay didn't get paid. Obviously eBay fixed that one. But the queue still works as described. It's a bid weird and different from how bids in live auctions or even telephone auctions work.

[AngryScientist]

thanks guys, i think i get it now. the numbers i used were illustrative.

all i have to say is the market for used toyota 4wd vehicles is out of control. crazy really. and here i am, adding to the craziness.

i should just buy another jeep.

sigh.

[Cicli]

thanks guys, i think i get it now. the numbers i used were illustrative.

all i have to say is the market for used toyota 4wd vehicles is out of control. crazy really. and here i am, adding to the craziness.

i should just buy another jeep.

sigh.

Get another bike. :beer::fight:

[ripvanrando]

thanks guys, i think i get it now. the numbers i used were illustrative.

all i have to say is the market for used toyota 4wd vehicles is out of control. crazy really. and here i am, adding to the craziness.

i should just buy another jeep.

sigh.

I agree

I sold my built Hundy to my 17 YO for a fraction of its value but then again, he is precious. 6500 pounds lifted with Slee bumpers makes for a rather impenetrable barrier. His friend has a Jeep. The approach angles are better on the Jeep. One is not necessarily better but the Jeeps are made in larger numbers compared to hundreds of Land Cruisers imported to the USA every year. The other thing is my son's friend seems to be fixing his Jeep often whereas we have taken the Land Cruiser 100 onto some hellacious terrain and have not had a single breakage. I love Mercedes but respect Toyota's reliability the most.

[11.4]

[QUOTE=AngryScientist;2009076all i have to say is the market for used toyota 4wd vehicles is out of control. crazy really. and here i am, adding to the craziness.

i should just buy another jeep.

sigh.[/QUOTE]

Their vehicles don't have that exceptional a resale value, except for their two most old-school SUVs, the Land Cruiser and the 4Runner. Ludicrous prices and people want the older versions even more than the current ones. It's nuts. Get an old Land Rover (the very old riveted ones with the sideways seating) from one of the shops that restores them -- you can keep them running forever and replace just about every part on them. But I do feel sorry for you. I'm selling a recent model Ford Superduty with low mileage and the prices on those are crazy high as well.