A reserve is your lowest acceptable price. It is a little more
straight forward to just make your opening bid your lowest price and
go from there. Generally a reserve is kept secret. It costs a little
more to run a reserve auction. If you are testing the value of
something you can set a high reserve and see how the bidding goes.
I don't run reserve auctions. I prefer bidding on "no reserve"
auctions. I don't see the point. If you want at least $X, then make
the opening bid $X.
Also, if you would be thrilled to death to get $Z for something you
can make it a "Buy It Now" auction for $Z.
Keys to ebay selling are PICS! and thorough descriptions.
Someone gave a friend of mine a TR3 hulk, after seeing his Sprite.
"You like British cars? I'll bring you one for free." We looked at
it and decided it would be a tough restoration. I offered to list it
on ebay for him figuring he would get a few hundred bucks. The car
was restorable, rusty but complete, the interior was trashed, the top
was gone, and we had no title. We took several pictures and I listed
it with a good description, stating that we had no title, etc. The
car sold for $3500.
If you are new to selling on ebay then use the search feature to see
what similar items are doing and how they are listed. Find a listing
you like and use it as an outline. Be honest, upfront, and cover all
your bases.
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