reserve price

A reserve price is the minimum amount a seller is willing to accept for an item in an auction. It’s set privately by the seller before the auction starts. If bidding doesn’t reach this minimum, the item is not sold, even if there are bids. This helps the seller avoid selling below their desired value. For bidders, it’s important to know that if the bidding doesn’t reach the reserve price, the item remains unsold. Reserve prices protect sellers from accepting too low offers and ensure they only sell if the offer meets their expectations.