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At this point, Id like to mention the concept of the eBay reserve price. In an auction-style listing, the seller can set aminimum price for an item, such that if bidding never reaches thatprice, the eBay auction will end with the item unsold. That minimumamount is the reserve price.Why set a reserve price?Sometimes sellers decide that, for whatever reason, they simply cannotsell an item for less than a given price. But theyre concerned thattheir minimum starting price will be just high enough to scare offpotential bidders. Using the eBay reserve price option allows them toset a lower starting pricein hopes of inspiring that auction feverbutstill assures them that, if they dont get their minimum, they donthave to sell the item and thus will be able to relist it later andperhaps get their reserve price, or more, at that later time.The eBay listing for such an item will note only that a reserve priceexists, and whether or not the latest bid has met the reserve; thereserve is never displayed to bidders, but they are permitted by eBayspolicies to ask the seller about the reserve price. The seller, inturn, is free to release that information to the bidder, or not.As with deciding on your starting price, you should be realistic aboutsetting a reserve price if you choose to use that option. Keep in mindthat setting a very low starting price in relation to your eBayreservefor example, starting bidding at $1.00 when your reserve priceis $500.00could backfire; bidders may get tired of bidding if they see30 or 40 bids that have yet to reach the reserve. Your starting priceshould be far enough below your reserve to inspire people to bid, butclose enough to it to give them a realistic hope of reaching orsurpassing the reserve with their next bid or two.If your reserve price is significantly higher than the average eBayselling price you find in your research of completed listings, you maywant to consider holding on to the item a while, to see if the closedauction prices increase over time or to see if your desire to setsuch a high reserve changes. There is, after all, no law that says youhave to sell it right now, or at all. An inclination to set a highreserve price may be your psyches way of telling you that you arentquite ready to let that item go. Listen to yourself and act accordingly.To sum up, you must do the necessary research to determine a realisticprice range for your item while also keeping in mind human nature andour tendencies both to look for bargains and be untrusting of too gooda bargain. You must assume that you will not get the price you mostwant, particularly if you are selling something with sentimental value but understand that there are ways to let human nature work in yourfavor to nonetheless maximize your potential profit.Greg Kusch is the most widely quoted eBay expert and one of only 23 certified eBay trainers. Have questions? Ask The eBay Expert
eBay,Reserve,Pricing,this,poin