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Chatsworth ATV Rentals LLC
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What's a Reserve Price?
What's the lowest price the seller will accept? That's the reserve price--a secret amount that exceeds the original minimum bid. Until bids meet or exceed the reserve price, nobody wins the auction, and bidders are not revealed.
Many auctions don't have a reserve price. For those that do, once bidding is under way a notice will appear on the auction detail page saying "Reserve Not Met." If a bid meets the reserve, we'll let the bidder know and make note that the reserve price is met on the auction detail page. At this point the auction becomes a regular auction, and every new bid can win.
Keep in mind that when you place a bid in a reserve auction, your proxy automatically checks to see whether your bid meets the reserve--if it does, your proxy automatically advances your bid all the way to the reserve price.
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