On eBay, I'm looking for a new cell phone. The one I'm looking at is a used pink chocolate that says "No Reserve." What does this mean exactly?
From reviews.ebay.com:
What is a NO RESERVE auction? Its an auction in which the item for sale has no minimum bid it has to reach to sell to the highest bidder. Auctions that state they are a NO RESERVE but then start the bidding at say $25.00. HAVE A RESERVE ITS $25.00. You cant bid less. Too many Ebayers want to claim NO RESERVE and its just a way to decieve the bidder. In a live NO RESERVE auction the auctioneer will also start the bidding at some amount greater than $0.01 lets say $5000.00 for an Automobile thats likely going to sell for $25,000.00. But guess what if you want you can open the bidding for a Penny and if no one else bids then you would win the auto for $0.01 Of Course thats not likely to happen. And would raise some eye brows at a live auction if it did. Also if the auctioneer in the example above doesnt get someone to bid at the opening amount then the opening bid is reduced by the auctioneer untill someone finally bids. Here on ebay you cant bid less than what the seller has started the bidding at and what ever that amount is unless its $0.01 is the RESERVE PRICE. The only true NO RESERVE auction here on ebay is the one that has an opening bid of $0.01. Something to think about when looking at a so called NO RESERVE auctions. As a buyer I ask my self is the seller just ignorant of what the words NO RESERVE mean or was the NO RESERVE Claim a deception attempt by the seller. Thats a question youll have to answer for yourself. Good Luck and Happy ebaying.
Take care !!
with auctions, "No reserve" means that they aren't asking a minimum price for it. For example, let's say that that there was a reserve price for that phone of a crazy $1000 dollars. That $1000 dollars is the least amount that they'd be willing to accept for that item. If that $1000 reserve isn't met, the phone won't be sold. The seller isn't willing to sell for less than that $1000. That's the best way I can explain it.
It means that there is no minimum cost ... it goes to the highest bidder.
