How do I set reserve prices for my auction items?

How do I set reserve prices for my auction items?

Setting a reserve price means you establish a minimum price that your item must reach to be sold. It's a way to protect your investment.

What factors should I consider when determining the reserve price?

Consider the item's market value, condition, and how much you're willing to accept. Research similar items to gauge a fair price.

Is it better to set a high or low reserve price?

A high reserve price may deter bidders, while a low one could lead to a quick sale. Balance is key to attract interest.

Can I change the reserve price after the auction starts?

Typically, once the auction starts, you cannot change the reserve price. It's best to finalize it beforehand.

What happens if the bidding doesn't reach the reserve price?

If the bidding doesn't reach the reserve price, the item won't be sold, and you can choose to relist it or adjust the price.