The reserve price is the minimum you are willing to accept for each listing. 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 will be automatically accepted. Offers below your reserve price will require your approval. If you accept an offer below the reserve and the potential buyer does not purchase at that time, your willingness to accept this offer below your initial reserve will re-set your reserve to the lower amount for future offers.
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
- If you accept Buyer's offer of $899 or less, and the buyer determines not to purchase, the reserve price will be re-set to the amount previously accepted.