posted on July 30, 2001 11:29:14 AM
I've been trying to figure out Reserve auctions with little success.
First, what is the fee structure for Reserves? I remember using a Reserve once and being surprised to find there WAS a fee. I can't find a schedule of the fees on the ebay site.
Second, if your auction closes with NO bids, are you refunded the Reserve fee? How about if it closes with a top bid below the Reserve? I know it's refunded if you sell at the Reserve price or higher.
I'm trying to decide whether to start using Reserves more often, but don't want to until I understand how they work.
If your item does not reach the reserve, you are not obligated to sell, and your fees remain. If it does reach reserve, you are obligated to sell, and you are refunded the reserve fees, but I cant remember if it is partial refund or total refund. If it closes with NO bids, you are SOL! I personally dont like reserve auctions, I would rather know up front what the minimum asking price is, that way I know whether or not I even have a chance at winning. I have used them as a seller, but very rarely, and only when I dont know the value of something for certain.
posted on July 30, 2001 11:41:22 AM
For reserve auctions, there is an insertion fee and a reserve fee. The insertion fee is based on the reserve you select, and the reserve fee is either 50 cents or $1.00, depending on the reserve you select (I don't know the exact price where it increases). The reserve fee is refunded only if the item sells.
