Setting a Reserve Price on an Item

This article provides information on how to set a reserve price on an auction item.

A reserve price is a minimum price that you'll accept on an item.  Some auction platforms allow you to set a reserve (that is private) and then start the bidding at or just below the reserve price, with hope that bidding will eventually exceed the reserve. Platforms that set reserve prices will not allow an item to be sold if bidding does not meet the reserve 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 the reserve price or one bid increment below.

 

For information on how to set a max bid click the following link: How to place Max Bids