Setting a Reserve Price on an Item

A reserve price is a minimum price that you want to accept on an item.  Some auction platforms allow you to set a reserve (that is private) and then start the bidding below this in hopes that the bidding will eventually exceed the reserve. Platforms that set reserve prices will not allow an item to be sold if the highest bid is below this price.  

Handbid does not have a reserve price field for items, but you can approximate the same feature using a max bid.  Simply set a max bid as the auction manager on the item at or one bid increment below the reserve price.  

If you want the winning bidder to EXCEED the reserve price, then set the max bid at the reserve price.

If you want the winning bidder to MATCH OR EXCEED the reserve price, then set the max bid at one bid increment below the reserve price. 

 

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