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Reserve Price

 

Overview

The reserve price is the minimum price you will accept for each listing. 

  • Items with a reserve price sell twice as fast as those without.

  • Sellers using reserve prices sell 25% more than those that don’t.

The reserve price is not displayed to buyers, but when a potential buyer makes an offer, the reserve price determines whether or not the offer will be automatically accepted. Any offers equal to or greater than your reserve price are automatically accepted. Offers below your reserve price require your approval. 

Here's an example:

  • Your listing's "Asking Price" = $1000

  • Your listing's "Reserve Price" = $900

  • If a Buyer's offer = $900 or greater, the offer is automatically accepted and the sale is complete

  • If a Buyer's offer = $899 or less, you can either accept, counter, or decline the offer

The offer will also be automatically accepted if the subtotal amount for an offer on multiple quantities of an item for sale is higher than the combined subtotal of the reserve price.

Any outstanding offer for a quantity higher than what is available will be declined.

 

The Importance of Reserve Pricing:

Reserve Pricing is one of the strongest sales boosters on Chairish. Historically, we saw products with a Reserve Pricing on their listings selling 25% more, and up to 2 times faster than those without.

When creating a new listing, we set a suggested Reserve Price at a 20% discount. You may adjust your reserve price anywhere between 20%-5%.

Please note: Participants in our Wholesale program are excluded from reserve pricing.  

 

Adding and Adjusting Reserve Pricing:

You can add or update reserve pricing in two ways:  

  • Within the listing form, enter the Reserve Discount % in the Price section.:  

  • To update one or more active listings, from “My Listings”, click on “Set Reserve Price” and apply a new discount % to all Active Listings.

 

Please note: when you mark down the Asking Price on a listing, the Reserve Discount %  will not change

. For example:

  • Pre-Markdown:

    • List Price: $100

    • Reserve Price: $70 (30% discount)

  • Post-Markdown:

    • New List Price: $80 (20% markdown)

    • Reserve Price: $70 (30% discount)

 

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